Sharp downward correction in cattle prices offered by processors

After reaching their highest levels of the year, the prices offered by the processing industry for cattle fell sharply last week (-20 cents). According to an operator consulted by WBR, the new reference prices are around US$ 4.50 per kg carcass for steers and US$ 4.10 for cows, with “very few deals” concluded at the beginning of this week at the new levels proposed by processors.

“The bulk of this week’s slaughter is still at significantly higher prices,” said the source, citing feedlot steers selling for US$ 4.75 per kg carcass as an example. Bookings are short, averaging about one week.