Hope of beef market floor dashed by fresh factory cuts

Meanwhile, analysis of Department of Agriculture weekly price data confirms an ongoing reduction in returns, although not as severe as quoted prices would suggest

Optimism among suppliers that the market was beginning to bottom out was dashed as factory prices were cut by a further 10c/kg across all major categories of stock.

Hopes that the week-after-week slide in beef prices was beginning to ease failed to materialise, with factory quotes showing a further reduction this week.

Optimism among suppliers that the market was beginning to bottom out was dashed as factory prices were cut by a further 10c/kg across all major categories of stock. Many finishers are now counting the extent of the growing losses.