Industry pushes for further price cuts

With most plants already booked through the end of June, new cattle price lists released by the industry showed steep cuts. Packers are now offering US$ 3.50 per kg carcass for standard steers and US$ 3.20 for fat cows, for slaughter in the first week of July—a 30-cent drop from last week.

Compared to late May prices (US$ 4.10), steer prices have fallen by 60 cents or 15%.

According to World Beef Report (WBR), most producers are resisting these lower prices and unwilling to schedule new slaughter deliveries at current rates.