Weekly cattle & sheep market wrap – 09 January 2025

Key points

• Cattle and sheep prices begun the new year in strong positions, following the peak demand period of Christmas.
• The GB deadweight R4L steer price averaged 566p/kg in the week ending 4 January, while the GB old season SQQ averaged 708p/kg for the same week.
• We will be releasing our 2025 outlooks for the UK lamb and beef markets in early February. These will cover our forecasts for production, consumption and trade in detail.

Cattle

GB deadweight cattle prices showed slight downward movement in the final week of 2024. The R4L steer measure averaged 558p/kg in the week ending 27 December, a reduction of 1.5p from the week previous. The overall deadweight cow measure also lost some ground, down 2.3p to average 369p/kg. Estimated cattle slaughter recorded its typical Christmas reductions.

However, prices moved upward into the new year, with the R4L steer measure gaining just over 8p to average 566p/kg in the week ending 4 January. This was up 67p when we compare to the same week a year ago. Meanwhile, the overall cow measure averaged 388p/kg in the first week of 2025, up nearly 20p from Christmas week and up 71p on the year.

Estimated GB prime cattle slaughter stood at 22,900 head for the week ending 4 January, down 9% (2,300 head) compared to the same week of the previous year.

Spend on beef in retail was up 3.4% in the 12 weeks to 1 December, according to Kantar data, with categories including sous vide and mince showing strongest performance. Our Christmas demand predictions showed optimism for red meat (and indeed other proteins), as consumer sentiment was expected to be more positive. We will publish analysis on how our sectors actually performed this Christmas in the coming weeks.

Sheep

Meanwhile, deadweight sheep prices remained largely stable in the final weeks of 2024, with the NSL SQQ averaging 691p/kg in the week ending 27 December. Slaughter levels recorded their typical reduction during Christmas week, to an estimated 115,000 head for the week.

Moving into the new year, the OSL SQQ averaged 708p/kg for the week ending 4 January, 93p ahead of the same reporting week a year ago. Estimated slaughter remained low, factoring in the shorter week, standing at 192,100 head.

Lamb enjoyed strong consumer demand in 2024, supported by retailer price promotions and development of ranges, as well as some changes in consumer sentiment. Indeed, volume sales in the 12 weeks to 1 December were up 3% year-on-year, outperforming beef, pig meat, chicken, fish and meat-free.

For lamb to continue its positive momentum into 2025 and beyond, it must continue to evolve to meet consumer needs, particularly around areas gaining momentum such as health and convenience. We will be releasing our 2025 outlook for the lamb and market in early February.

Key dates in 2025 lamb marketing calendar:

• Ramadan: 28 February – 30 March
• Eid al-Fitr: 31 March
• Easter Sunday: 20 April
• Eid al-Adha, Qurbani festival: 6 – 10 June