Weekly cattle & sheep market wrap – 19 September 2024

Prices for week ending 14 September

Key points

• Finished cattle prices grew again, with the average R4L steer measure gaining over 3p to average 514p/kg.
• Estimated cattle numbers reduced, while domestic demand remained strong. Market reports suggest increased buying interest ahead of the festive period.
• Deadweight sheep prices dipped in the latest week by nearly 12p, as estimated numbers also reduced. Market reports suggest lamb quality may be weighing on averages, but demand for lamb domestically remains firm.

Cattle

Deadweight prime cattle prices continued to climb in the week ending 14 September. The overall steer measure gained nearly 2p to average 504p/kg, with those achieving R4L specification gaining over 3p to average 514p/kg. Heifers averaged 501p/kg overall (up 0.7p), while heifers of R4L specification rose over 4p to average 513p/kg. Young bulls gained just over 2p to average 494p/kg overall, while R3 animals gained a similar amount to average 502p/kg.

GB prime cattle slaughter dipped by nearly 2,000 head from the week before to an estimated 30,800 head.

Meanwhile, the overall cow measure gained nearly 2p to average 361p/kg, up 32p versus the same week a year ago. This was despite estimated numbers rising by 200 head (+2%).

Market reports suggest tight availability of prime steak cuts have kept prices buoyant of late, as well as strength in round cuts (suitable for slow cooking) due to increased interest ahead of Christmas. This is expected to gain momentum as we approach the festive period.

Sheep

Conversely, deadweight sheep prices saw pressure in the week ending 14 September. The GB SQQ lost nearly 12p to average 643p/kg. However, this was still up nearly £1/kg against the same week a year ago.

Estimated GB clean sheep slaughter dipped by 2% to 204,500 head, following the growth of the previous week. Weekly kill has been on its seasonal upward trend since late July. However, rates are still substantially back compared to the same point last year.

Elsewhere, GB retail data shows that domestic lamb purchases have been robust of late, with volume sales up just over 4% year-on-year in the 12 weeks to 1 September. More recently, stable wholesale lamb prices from Rungis market in Paris suggest the export trade has been steady of late. However, market reports suggest quality and leanness of some lambs forward could be having a bearing on average prices currently, with meat attracting stronger returns.

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