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Store prices ease for both sheep and cattle
Friday, 14 October 2022
Sheep
While finished lamb prices have remained similar to year-ago levels over the last month, the store market has seen more price pressure.
In the four weeks ending 1 October, new season store lambs averaged £70/head through GB marts, back 5% (-£4/head) from the price recorded during the same period a year ago. This is still 8% (£5/head) above the same week in 2020, and up further on the five-year average of £58/head.
Store lamb auction prices typically soften around now before picking up towards the end of the year, reflecting trends in the finished market and numbers of store lambs coming forwards. Looking at numbers, fewer store lambs were sold through marts in July-August compared to a year ago. However, this was balanced by higher throughput in September (specifically the 4 weeks ending 1 October), which saw 10% more store lambs sold than last year. From the week ending 5 June through to 1 October, the number of store lambs sold in GB remained largely unchanged versus the same period in 2021 (-0.3%).
Cattle
GB store cattle prices have also generally eased over recent weeks compared to year-ago levels, not maintaining the rate of year-on-year growth seen in the finished market. Despite this, prices remain above five-year averages. Pressure has been felt particularly in prices for younger animals, potentially reflecting concerns about longer-term keep costs. Thinking further ahead still, prices for rearing calves have shown particular pressure over recent months.
Looking at throughputs, numbers began picking up week-on-week at the end of July, particularly for 18-month-old animals. Despite this, numbers remained generally below 2021 levels across all age groups in August. This trend continued in September for yearlings and 18-month old stores, while numbers of 2-year old stores have moved back above 2021 levels in recent weeks.
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