
Australian beef processor trading conditions were revised lower, with August's BPTC cut from 21% to 13% after co-product values, including hides, offals, meat and bone meal and tallow, were corrected. September's BPTC was confirmed at 6%, and the year-to-date average fell to 63%.
Heavy steer prices rose 21% and processor cow values 35% between the second and third quarters.
Higher cattle procurement costs combined with weaker co-product values are squeezing processor margins into spring, which can reduce slaughter margins and affect beef and by-product supply for feed markets.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.