Wednesday, 27 May 2020
In the week ending 23 May, GB deadweight cattle prices recorded strong growth across the board. This has put prices back in-line with where they were in early April, when UK quarantine restrictions had been in place for two weeks.
The all-prime GB average price rose 7.7p on the week, to average 337.6p/kg. This is the largest week-on-week gain recorded since the series began in 2014.
Estimated throughputs for the week totalled 32,900 head, 3% (950 more) than in the previous week.
Average prime price movements for the week ending 23 May:
- Overall steers: ↑ 8.0p to 337.9 p/kg
- R4L steers: ↑ 7.7p to 348.1 p/kg
- Overall heifers: ↑ 6.7p to 338.2p/kg
- R4L heifers: ↑ 7.3p to 347.3p/kg
- Overall young bulls: ↑ 10.6p to 332.9p/kg
Cull cow prices also recorded strong positive growth in the week. Overall prices recorded an increase of 11.0p on the week to average 241.2 p/kg. Prices rose even more for those meeting the O4L specification, which rose by 12.3p on the week to average 255.4p/kg.
Estimated throughputs were up 9% (800 head) on the week, to total 9,600 head. With serious concerns over the dryness in some areas of the country, and the knock on impacts on grass growth, some dairy producers may be adopting a harder culling policy.
Additionally, more fast food outlets are opening chains for delivery and takeaway, which will support demand for manufacturing beef. Furthermore, the warmer has supported retail sales of burgers, which recorded a 51% increase in sale volumes in the week ending 17 May, compared to last year.
Sign up for regular updates
You can subscribe to receive Beef and Lamb market news straight to your inbox. Simply fill in your contact details on our online form.