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GB cattle prices slip
Wednesday, 12 May 2021
In the week ending 8 May, the GB all-prime average deadweight cattle price stood at 406.0p/kg, down 1.3p from the week before. This marks the first week-on-week decline in 10 weeks, with the measure having risen by 29p since the first week of February.
Reports suggest that the wetter weather has put a dampener on demand for eating out(side), with some beef remaining in freezers. However, with indoor dining allowed from next week, this could perhaps offer some demand support, especially for more expensive cuts. Reports suggest that import demand is starting to pick up, potentially due to the upcoming easing in dining restrictions and current high domestic cattle prices. Trade data for this period won’t be available for several weeks yet.
Despite the slip, the price is 82p ahead of the same week a year ago. At this point last year, prime prices were around the lowest they would turn out to be during 2020, due largely to disruption caused by the first lockdown (carcases devalued from consumers panic-buying mince, and foodservice closures at short notice).
Weekly movements in average GB prime cattle prices, w/e 8 May:
- Steers (overall): 407.1p/kg, -1.1p
- Heifers (overall): 405.9p/kg, -1.4p
- Young bulls (overall): 399.8p/kg, +0.2p
Tightness in cattle supplies remains. Prime cattle kill at GB abattoirs was estimated at 30,500 head for the week, down 10% from the week before, and down 7% from the same week a year ago. The shorter kill week (due to the early May bank holiday) will explain some of the weekly fall in throughput.
Cow prices also eased in the latest week, with the GB average price at 279.4p/kg, down 0.9p on the week. The price is still 57.9p above where it was at the same point last year. Cows of –O4L spec lost the same ground, down 0.9p to 296.1p/kg.
Estimated GB cow kill for the week stood at 8,600 head, down 15% on the week and up 1% on the same week a year ago.
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