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Cattle prices rise on good processor demand
Wednesday, 2 March 2022
Cattle prices rose across the board in the week ending 26 February, with all the main categories of animal posting gains. The GB deadweight all prime average increased by 2p to 406.9p/kg, and is now 31p above year earlier levels. Overall average heifer and steer prices both rose by around 2p to 406.9p/kg and 408.1p/kg respectively.
Although estimated slaughter of prime cattle rose on the week by nearly 1,100 head to 32,300 head, competition for those cattle appears to have been stiff. Coronavirus related issues have certainly not left the abattoir sector altogether, but it appears they may be lessening, allowing more animals to be processed. The market is expected by many to remain this way for some weeks to come. Retail demand is relatively respectable, down only slightly on levels from two years ago, and warmer spring weather and Easter around the corner could provide a further boost.
For a further breakdown of deadweight cattle prices click here.
Overall cow prices staged another remarkable performance, putting on a further 8.7p in the week ending 26 February to average 298.5p/kg. This follows gains of over 5p in the previous two weeks. Already at 108p, it’s not clear how much room there is for the prime cattle/cow price spread to narrow further, although something in the 90s is not that unusual. Estimated cow slaughter fell on the week, by 400 head to 9,600 head.
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