Factories cut beef quotes by 10c/kg despite tight supplies
Processors are attributing the cut in prices this week to a weakening of consumer demand on the markets as the cause of the downward price pressure.
Beef processors have moved to exert further pressure on prices and confirm to producers the perception of tighter supplies as a formula for higher returns is not a reliable expectation.
Several of the factories have reduced their base quotes for both steers and heifers being booked in this week by up to 10c/kg, despite the tightening in supply over recent weeks and reports of demand on export markets remaining firm.
