UK: Weekly cattle and sheep market wrap on 18 July 2024

Published 2024년 7월 18일

Tridge summary

GB deadweight prime cattle prices have seen support, with all-prime average increasing by 1p to 479p/kg, despite a slight increase in estimated slaughterings. The price increase was driven by steers, while heifer values remained largely static. HMRC trade data shows a 3% reduction in fresh/frozen beef volumes month-on-month, but robust performance for beef exports, up 11% in the year-to-date. The sheep trade is finding stability, but the international market offers difficulties with wholesale quotes falling and sheep meat export volumes back 3% on the month. Demand levels remain subdued and the current trading imbalance indicators suggest a tight domestic supply picture.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Prices for week ending 13 July GB deadweight prime cattle prices have seen support over the most recent reporting period, with the overall all-prime average increasing by 1p to 479p/kg, despite a slight (400 head) increase to estimated slaughterings. The price increase was driven by steers, meanwhile heifer values remained largely static at 479p/kg overall. Cow prices remained relatively stable for the week at 362p/kg, with AHDB’s estimated slaughterings highlighting some moderate increases in kill from the previous week (+2%). Looking to the wider market, the most recent HMRC trade data has been released (up to May), with the latest import data showing a 3% reduction in fresh/frozen beef volumes month-on-month. Price differentials between UK and Ireland remain relatively stable, hovering currently at 47p/kg difference, despite widening slightly in the most recent weeks data, this remains one of the narrowest price differentials seen since May 2023. This factor, alongside a stable ...

Source: Ahdb