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Prime cattle prices succumb to market pressure
Wednesday, 15 April 2020
Weeks of relative stability in prime cattle prices came undone in the week ending 11 April. The GB overall deadweight average fell by 8p to £3.28/kg. Cattle prices fell across the board, although those meeting higher specifications held on to a little bit more of their value. Retail demand for mince, the closure of foodservice channels (normally home to some higher value cuts), and lower hide prices have all contributed to the weakness in prime cattle prices.
- R4L steers fell 5p to £3.43/kg
- Steers overall fell 7p to £3.30/kg
- R4L heifers fell 4p to £3.41/kg
- Heifers overall fell 8p to £3.29/kg
- Young bulls overall fell 15p to £3.09/kg
Deadweight cow prices had already reacted to market forces, but they continued to suffer in the latest week too, falling by 2.5p to average £2.09/kg overall.
Estimated slaughter* in the week ending 11 April was 28,800 prime cattle and 7,300 cows, lower week on week by 4,400 and 1,200 head respectively. Reports of falling processor revenues are leading some plants to look for ways to cut costs, and potentially kill days.
*estimated slaughter figures should be treated with caution, as more animals than usual may have been sold deadweight, given the temporary disruption to some live markets.
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