Cattle prices reclaim January’s levels

Wednesday, 10 March 2021

The GB all prime deadweight average price rose again in the week ending 6 March, to end 1.3p higher at 377p/kg. This puts prices back where they were at the end of January, having been slightly lower in between. Overall prices for steers, heifers and young bulls all rose by just over a penny. Prices for steers and heifers meeting the R3 specification rose by 1.8p/kg and 3.3p/kg respectively.

Reports of supply side tightness in the market remain, and these are supported by population data, both here and in Ireland. Despite high demand, price competition at retail is said to be very strong at the moment, and margins on beef are thought to be extremely thin. It is possible that this could lessen the appetite of retailers for beef volumes at these prices.

Estimated slaughter of prime cattle was 33,900 head in the week, around 1% lower than both the week before and the same week last year.

 

 

Cow prices also rose again in the week ending 6 March, by 2p to 259.6p/kg. Carcases meeting the –O4L specification increased by 3.1p to 275.4p/kg. Estimated cow slaughter was 9,900 head, 100 head lower than last week and 1,200 head lower than a year ago.

 

 

Duncan Wyatt

Lead Analyst - Red Meat

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