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Store cattle and sheep prices trending high
Friday, 5 August 2022
Cattle
As in the finished market, average prices for store cattle have remained firm against long-term averages. However, while the finished price has generally strengthened during the first half of 2022, store prices have generally moved sideways, tracking closer to year-ago levels. In recent weeks, prices have come under pressure, especially for younger, longer-keep animals. Despite this, store steer prices are still around 10-20% ahead of their respective five-year averages.
The recent easing of prices may well be a reflection of how the finished price has moved over the past month, especially for older cattle. In addition, high feed costs and recent dry weather may have affected demand for store cattle from buyers, as feed availability is pressured and replacement costs are scrutinised.
Sheep
Store sheep prices have also generally continued strongly against long-term averages, despite coming under some pressure in recent weeks. The new season store price averaged £81/head in the four weeks to 30 July, 2% above where it was at this point a year ago. Pressure in the finished market will be feeding through, with poor grass growth and limits on costly concentrate feeding reportedly leading to smaller lambs coming forwards. As with cattle, demand has reportedly been stronger for shorter-keep animals.
While recent rain may have benefitted grass in parts of the country, the picture is still incredibly variable. How the weather unfolds will be crucial to fodder availability and livestock trading over the next few months.
Read our top tips for managing grazing during dry weather
For a forward look at markets, read our latest outlooks for the cattle and sheep sectors.
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