After reaching record highs in 2014, beef prices in the US have slipped by 5c/kg this week.

Prices reported this week show live prices trading at $3.70/kg, or the equivalent of €2.96/kg. Dead weight prices have eased back slightly to $5.83/kg or €4.66/kg.

Prices have slowed this week after market speculators displayed little appetite for cattle, causing processors to steady prices. Lower market prices for pork and poultry meat are the main reason for less cattle trading from speculators.

With the US suckler herd at an all-time low, a shortage of cattle has seen prices escalate in 2014.

For the same week in 2013, typical prices paid for live cattle were $3.06/kg or €2.45/kg. Finished cattle were making $4.60/kg or €3.68/kg.

The shortage of cattle highlights how proper competition for supply and growing demand clearly influence market prices.