Strong Demand Supports Firm Cattle and Sheep Prices: AHDB
The latest market update from the AHDB has revealed that cattle and sheep prices are holding steady as strong demand continues to support the market.
In its report for the week ending 10 October 2024, AHDB highlighted key trends in the livestock sector, with both cattle and sheep prices seeing minimal fluctuations.
Cattle Market Update
Deadweight cattle prices showed slight declines, with the overall average steer price down by 1.2p, now standing at 456.6p per kg. Despite this minor dip, cattle prices remain relatively strong due to solid demand from domestic processors. The report noted that tight cattle supply has kept the market firm, preventing any significant price drops.
Heifer prices remained stable, with the average deadweight price reaching 453.7p per kg, showing resilience in the market. Cull cow prices have also been holding steady, supported by ongoing demand for manufacturing beef.
Sheep Market Performance
Sheep prices have also remained firm, with the GB deadweight old season lamb (OSL) SQQ (standard quality quotation) recording a marginal rise of 0.1p per kg to reach 573.6p per kg. The liveweight OSL price saw a slight increase to 264.7p per kg, up by 1.7p. These price movements reflect the continuing demand for lamb, driven by steady domestic consumption and robust export demand.
AHDB analysts pointed out that lamb prices are expected to remain stable in the coming weeks, with supply conditions remaining tight due to seasonal factors. However, the outlook for the market could shift as the Christmas period approaches, when demand traditionally rises.
Looking Ahead
The AHDB report highlighted that while prices have remained stable, both cattle and sheep markets are subject to pressures from wider economic conditions, including rising input costs and fluctuating consumer demand. Nevertheless, strong domestic and export demand is expected to keep prices firm in the near term.
As the market moves towards the festive season, demand for lamb is likely to increase, potentially supporting further price rises. However, the cattle market will remain sensitive to shifts in supply and demand dynamics as the year progresses.
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