UK: Cattle prices buck seasonal trend in 2023 and reach new record highs

Published 2023년 3월 12일

Tridge summary

The article highlights a significant increase in R4L steer prices in Scotland, defying the usual trend of falling prices at this time of year, with a 18.5% rise from the previous year and a 30% increase compared to the five-year average. This surge is attributed to various factors, including a decrease in prime cattle availability in Scotland due to an reduced breeding herd and an increase in store cattle being exported to England since autumn 2021, contrasting with a rise in prime cattle numbers in England and Wales at the beginning of 2023. The article also notes a slight decrease in calf registrations in Scotland in 2022, which could lead to a tightening of prime cattle availability in the first quarter of 2025. Additionally, it mentions record high cow prices and a reduction in the volume of beef added to the UK market in 2022.

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Original content

Latest figures from the industry body reveal R4L steers reached 489.2p/kg dwt in the week ending February 25th, an increase of 18.5% over the same week last year and of 30% compared to the five-year average. Iain Macdonald, QMS Market Intelligence Manager, explained: “It is unusual for market prices to be rising at this time of year. Indeed, between 2010 and 2022, R4L steer prices were lower in the eighth week of the year than in the first week of the year on 10 of 13 occasions. In addition, only in 2012 was the price at its highest of the year so far in week eight. Over the 13 previous years, there was an average reduction of 1.5% for the period but this year prices jumped 6% higher. “In Scotland, prime cattle prices have been rising despite weekly prime cattle slaughter being seasonally firm, running above its 2022 weekly average level, with spring-born cattle from 2021 reaching peak slaughter age.” The latest cattle population data from BCMS revealed a significant year-on-year ...

Source: EuroMeat