Beef market held up by tightening supply
Tightening beef markets may continue to give price support for the rest of the year, with lamb prices also seeing support.
Deadweight beef prices lagged behind the year before during the three months between April and June, but since then they have pulled ahead. The most recent overall average deadweight GB steer prices are just under 490p/kg, according to the AHDB.
That is almost 35p/kg more than a year ago and less than 10p/kg off the all-time highs seen at the end of February and beginning of March this year.
Shrinking Supply Threatens to “Destabilise” Welsh Beef Industry
Despite some weekly fluctuation, the overall rise in price is despite an increase in production so far this year. Defra figures show a 3.3% increase in the number of UK steers, heifers, young bulls and adult cattle slaughtered in the first seven months of the year at 1.589 million head.
“Deadweight cattle prices saw pressure through the spring as greater supplies from domestic kill and imports weighed on the market. However, prime cattle prices have generally been on an upward trajectory since early June, as estimated weekly numbers have come back and consumer demand has been robust,” said Hannah Clarke, senior red meat analyst at the AHDB.
Cedric Porter | Farmers Guardian
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