Weekly cattle & sheep market wrap - 14 November 2024

Key points

Prices for week ending 9 November

• Prime cattle prices moved up again during the week as numbers were broadly stable. R4L steers averaged 530p/kg.
• Deadweight lamb prices gained ground in the week ending 9 November as numbers reduced.
• Festive demand offering support to the trade. We’ll be releasing predictions for Christmas food trends over the coming weeks.

Cattle

Following a largely stable week, deadweight prime cattle prices moved up again during the week ending 9 November. Steers of R4L specification averaged 530p/kg across GB, up 3.4p from the previous week. R4L heifers gained 2.9p to average 528p/kg. Meanwhile, the young bull category gained over 5p to average 502p/kg overall.

Estimated GB prime cattle slaughter was marginally lower (-100 head) than the week before at 33,900 head.

Cow prices meanwhile saw more stability as numbers reduced slightly. The overall price averaging 348p/kg in the week ending 9 November, up a fraction from the week previous. Estimated GB cow slaughter totalled 12,100 head for the week, down 300 head from the week before.

Beef demand ahead of the festive period is reportedly contributing to price momentum at present. The price direction would be further triangulated by relative stability in slaughter numbers, suggesting increased competition for available cattle.

Sheep

Deadweight lamb prices gained ground in the week ending 9 November as numbers reduced. The GB new season SQQ averaged 625p/kg, up 11p from the week previous. The measure was up 47p versus the same week a year ago.

The number of lambs forward slipped during the week, with GB clean sheep slaughter estimated at 211,700 head, down 3.5% (7,600 head) from the week before. This brought the year-to-date estimated GB kill to 9.1 million, down nearly 9% year-on-year.

Reports suggest strong buying demand at present for available lambs, with meat key. Elsewhere, Rungis market prices point to a stable to slightly improved export trade.

We'll be releasing predictions over the coming weeks for food trends and shopping behaviour for Christmas 2024. Last year, beef and lamb performed well during the period, outpacing total grocery growth.