Cattle market

The cattle market was mixed this week, with increases in the Heavy Steer and Processor Cow indicators. Yardings eased for most indicators except for the Feeder Steer and Restocker Yearling Steer, which lifted by 3,046 to 53,855 head.

The Feeder Steer Indicator eased by 9¢ to 681¢/kg liveweight (lwt), with yardings lifting by 37%. At Gunnedah, heavy feeder steers experienced a firm market, but due to quality-related changes, prices were mixed. At Wagga, heavy feeder steers were scarce, causing fewer buyers to bid strongly.

The Restocker Yearling Steer Indicator eased by 10¢ to 365¢/kg lwt. Positive pricing in NSW was supported by wet weather. At Tamworth, prices lifted by 32¢, motivated by strong restocker demand as we head into spring. In Queensland, due to mixed quality and conditions, prices eased by 14¢.

Sheep market

The sheep market has been generally positive this week for all indicators. The ease in yardings was largely driven by a reduction in lamb yardings by 9,145 head.

The Light Lamb Indicator lifted by 19¢ to 662¢/kg carcase weight (cwt), with yardings remaining relatively stable. Prices in most states eased, however NSW prices lifted by 33¢. Supply is tight in key saleyards as some lambs struggled to meet a fat score 2, making them cheaper compared to heavier weights.

The Restocker Lamb Indicator eased by 5¢ to 585¢/kg cwt, with mixed prices across states. A lift of 40¢ to 753¢/kg cwt occurred in NSW, while Victoria eased 54¢ to 444¢/kg cwt. In Victoria, the quality of supply has declined, with more secondary plainer lambs entering the market, resulting in throughput halving.

Slaughter

Week ending 23 August

Cattle slaughter lifted by 7,087 to 141,110 head. Throughout most states except Queensland, there was an ease in slaughter. Queensland slaughter lifted by 14% to 74,974 head, marking the largest weekly Queensland slaughter in the last four years. Weekly slaughter in 2024 continues to track 16% above 2023 slaughter indicating strong processing capacity.

Sheep and lamb slaughter eased by 33,771 to 534,070 head, notably from reductions in lamb slaughter from 21,741 to 391,411 head. This ease in lamb slaughter has been due to multiple processor shutdowns in SA. NSW lamb slaughter eased by 3,308 head a 16% decline compared to a year ago, while sheep slaughter eased by 12,030 to 142,659 head. Victorian slaughter eased by 16,305 head, a 31% drop from last week. There were moderate lifts in slaughter seen in NSW, Tasmania and WA.

MLA

 

The UK has secured the sixth and final ratification required to trigger our accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) before the end of this year.

CPTPP is a free trade area spanning five continents and almost 600 million people once the UK joins. Following Peru’s ratification of our deal to join the bloc, the agreement will now officially enter into force by 15 December 2024.

More than 99% of current UK goods exports to CPTPP members will be tariff-free once the deal enters into effect, helping businesses export more to CPTPP markets and contributing to the government’s priority of driving economic growth. By 2040, the agreement could boost the UK economy by around £2 billion annually.

Before Peru, five other CPTPP members ratified the terms of the UK’s accession: Japan, Singapore, Chile, New Zealand and Vietnam. This means the agreement will come into force with those members by 15 December, and subsequently with other members as they ratify. We continue to work closely with the remaining member countries who are in the process of ratifying the deal.

As the first country to accede to this agreement the UK will be well positioned to shape its future development, from influencing the development of the CPTPP rulebook to championing the group’s expansion to new economies.

Gov.uk

Throughput

There were 32,065 cattle processed in DAFM approved plants during the w/e 17 August, 2024, taking throughput for the year to date to 1,101,190 head. This is a -3,416 head or 0.5% decrease on the corresponding period in 2023 when a total of 1,097,774 cattle were processed.

There have been 787,216 prime cattle processed in the first 33 weeks of 2024, a 2.3% decrease from the same period last year (-12,023 head). Cow throughput has remained strong with 273,476 cows processed so far this year, a notable increase of 25,133 head (+10%).

 

Quotes

There was a steadying in the base quotes at Irish meat plants this week in response to tighter supplies of suitable cattle. In general, producers were offered a base price of €5.00/kg for steers with reports of up to €5.15/kg available. Starting quotes for heifers are in the region of €5.05/kg this week with similar room for negotiation being reported.

The trade for young bulls was also described as steady, with prices of between €5.10/kg and €5.15/kg on-offer for R grading animals under 24 months of age.

The cow trade remains relatively steady, with well-fleshed O grading cows being offered prices of €4.45-4.50/kg, with a range of €4.60-4.70c/kg available for good quality R grading cows.

A significant proportion of the cow kill have achieved a conformation score of P in recent months and the prices available for these animals vary significantly based on grade, weight and quality.

Prices

For the week ending 17 August 2024, the average price paid by Irish beef processors for R3 increased marginally to €5.02/kg. This remained 28c/kg ahead the corresponding week in 2023 when the R3 steer price was €4.72/kg. Note that reported prices exclude VAT but include all bonus payments such as in-spec bonus, breed-based producer groups etc. 

Across the EU, the average reported price for R3 grading young bulls was €5.07/kg (excluding VAT) for the week ending 10 August, 2024. This is 29c higher than Week 33 of last year when prices averaged €4.78/kg for this category. In Britain, tighter cattle supplies and firm demand have meant deadweight beef prices have started to firm again.

This week the average UK R3 steer price increased by 3c/kg to €5.70/kg (equivalent to £4.90/kg)

Bord Bia

Irish Sheep Trade & Prices w/e August 10th 2024

Quality Meat Scotland (QMS) is delighted to announce a series of “Meat the Market” workshops designed to provide farmers with essential knowledge on carcass grading, market specifications, and customer requirements.

These workshops will take place at leading processing facilities across Scotland and will include processing plant tours, expert speakers, and hands-on sessions aimed at helping farmers improve the quality and profitability of their livestock.

The workshops will be held on the following dates:

• Tuesday, 17 September 2024 – Beef Workshop at Dunbia Highland Meats, Saltcoats, starting at 9:30am
• Tuesday, 15 October 2024 – Beef & Lamb Workshop at John M Munro Ltd, Dingwall, followed by a visit to Dingwall & Highland Marts Ltd starting at 10:00am
• Wednesday, 16 October 2024 – Lamb Workshop at Morrisons Woodhead Brothers, Turriff, starting at 8:30am
• Wednesday, 16 October 2024 – Beef Workshop at Morrisons Woodhead Brothers, Turriff, starting at 12:30pm

Farmers attending the workshops will have the opportunity to visually grade cattle and lambs before slaughter, then view the resulting carcasses for comparison. This hands-on experience will help participants better understand how their livestock is graded, allowing them to maximise their returns by meeting market demands. Attendees will receive expert guidance on market specifications, carcass presentation, and how to minimise the risk of carcass downgrades.

Speakers at the events include George Allan, Divisional Manager at Meat and Livestock Commercial Services Ltd (MLCSL), and Adrian Crowe, an industry specialist. Both experts will provide insights into market requirements and help farmers understand how to present animals that meet the needs of buyers.

Further workshops are planned for later in the year and will be announced soon, providing even more farmers across Scotland with the opportunity to gain invaluable knowledge and guidance on maximising livestock profitability.

For more information, please contact QMS at [email protected] or visit the QMS website.

QMS

QMS provides butchery apprentices with value-added educational events

QMS drives innovation within the butchery sector

Makro, a leading wholesale supermarket chain where anyone can shop at more convenient prices, has announced its decision to leave crisis-ridden Argentina after some 30 years in the South American country where sales keep plunging despite President Javier Milei’s administration successful narrative.

According to the consulting firm Scientia, the wholesale sector faced an 18.8% drop in sales in August alone.

The company reportedly put up all its 24 branches in 10 territories for sale. Makro had already reduced its development in other countries in the region such as Brazil, Peru, and Venezuela. Owned by the Dutch group HSV, Makro entrusted Banco Santander with the liquidation procedures, it was also reported.

Although Makro denied the move, negotiations were said to be underway with potential buyers, some of them already involved in the wholesale and supermarket business. Makro’s assets are believed to be worth around US$ 200 million. Makro had landed in Argentina in 1988 through Colombian-born businessman and former Congressman Francisco de Narváez, then owner of the now-defunct Tía chain.

MercoPress

 

Cattle market

The cattle market was generally positive this week despite a 14¢ decline in heavy steer prices. Yardings eased once again, totalling 48,488 head.

The National Young Cattle Indicator lifted 14¢ to 357¢/kg liveweight (lwt). This is the second-highest price this year, behind the peak in February. A large portion of supply was coming through NSW online sales, which made up 23% of the indicator throughput. NSW online sales took over Roma and Queensland online sales, reflecting a slowdown in Queensland supply (though recent rain across the state lifted restocker enthusiasm).

The Heavy Steer Indicator fell back 14¢ to 345¢/kg lwt, opening the gap between processor-ready steers, trade feeders and restockers. The restocker market was driven by Queensland regarding throughput. Rain across NSW led to stronger restocker steer prices, particularly in Wagga Wagga. The Restocker Steer Indicator lifted 8¢ to 375¢, while the Heifer Indicator was the week’s highest performer, lifting 12¢ to 298¢/kg lwt.

Sheep market

The sheep market was poorer this week, as yardings eased 15% to 246,111 head, with an 11% dip in sheep (78,071) and a 16% dip in lamb yardings (168,040).

The Mutton Indicator eased 11¢ to 362¢/kg carcase weight (cwt), however was the least impacted by the decline in yardings. The declines were largely due to mixed quality of mutton offered to larger buyer markers, especially across NSW, softening $7–$21 in a usually strong Wagga market, and $10–$20 in Bendigo.

The Heavy Lamb Indicator was the best performer – while also being less affected by hits to yardings. The indicator lifted 7¢ to 819¢/kg cwt. Exporters were present across major markets and quality was the driver across NSW – lambs above 30kg drove the excitement, with good lines of grain-assisted stock hitting markets, some tipping $300/head.

Slaughter

Week ending 16 August 2024

Cattle slaughter eased slightly on the previous week, easing by 4,000 head (3%) to 134,023 processed over the week, remaining above the weekly average for 2024.

The most significant change across states was in WA, with slaughter lifting 33% to 3,539 head, their highest since March of this year. Slaughter also lifted 6% in Tasmania to 4,448 and 3% in NSW to 34,993 head. Eases were seen in all other states, starting at Victoria by 1% to 21,959 after the historic highs of previous weeks. SA slaughter dropped by 2% to 3,280, and Queensland (which drove the national dip) falling by 8% to 65,864, their lowest throughput since May.

Lamb slaughter eased 4% to 413,152 processed over the week. Despite lifts in NSW (1% to total 117,392) and Queensland (4% lift totalling 1,477), all other states experienced declines. Sheep slaughter lifted 6% to 154,689 head processed over the week. This was buoyed by a 16% lift in NSW to 63,578. Despite the lift, it is still below the weekly average for 2024.

Combined slaughter remained flat, falling by only 1% to 567,841. Tasmania and SA each fell 10% and 20% respectively to 8,283 and 22,044 mainly due to maintenance closures, while Victoria eased 4% to 269,824. Lifts between 1%–6% were seen across other states; WA (85,228), Queensland (1,492), and NSW (180,970).

MLA

See also:

Australian Red Meat Exports Boom in UK since Free Trade Agreement

Quotes

Base quotes for spring lambs from the major processors have improved slightly this week with €7.00-7.05/kg (+QA bonus) on offer. Relatively tight lamb supplies combined with some stability in demand from the domestic and export markets have contributed to this firming of the trade.

Tighter lamb supplies are also a feature in other key lamb producing regions of Europe and the UK with the latest Eurostat figures indicating a contraction in breeding flock numbers in many regions. The Irish ewe flock contracted by 3.7 per cent in the December 2023 census versus December 2022 levels. This decline in the ewe flock of 107,000 head is one factor contributing to the tightness in supplies currently.

Prices

Last weeks reported deadweight price firmed to €7.18/kg, an increase of 8c/kg from the week previous and reflective of the improvement recorded in quoted prices from the major lamb processors. In the corresponding week in 2023 the reported deadweight price was €6.14/kg.

The deadweight trade has also improved across the UK regions. Reported spring lamb prices in mainland GB were the equivalent of €7.77/kg  last week (+10c/kg) while in Northern Ireland there was a notable improvement in the trade to €7.28/kg (+20c/kg).

Relatively tight supplies of lamb for slaughter in Northern Ireland combined with competition from the live export trade to both mainland GB and ROI contributed to this firming in the trade.

Southern Hemisphere prices remain well below European prices however they have improved significantly over the last few weeks, narrowing the price differential with the EU. With a lead time on product shipments this recent improvement in deadweight prices should impact their competitiveness on EU markets in the medium to  longer term.

Demand for Southern Hemisphere lamb in China has remained somewhat subdued in recent months however reports of stable demand in the Middle East and the US has helped redivert product away from key European markets.

Throughput

There was a marginal decrease in the total sheep kill in DAFM approved plants last week to 47,568 head. Tighter supplies has been a feature of the 2024 lamb season to date with a smaller lamb crop, a difficult lambing and changeable grass growing conditions all impacting lamb availability for processing.

The spring lamb kill for 2024 YTD totals 472,000 head, a decline of almost 90,000 head or 16 per cent from the same period last year. The supplies of spring lambs are expected to increase in the weeks ahead as more mid-season lambing flocks start to present lambs for processing.

Bord Bia

Irish Cattle Trade & Prices w/e August 17th 2024

Throughput

There were 30,699 cattle processed in DAFM approved plants during the week ending 10 August 2024, taking throughput for the year to date to 1,069,125 head. This is a +6,100 head or 0.5% increase on the corresponding period in 2023 when a total of 1,063,024 cattle were processed. There have been 762,805 prime cattle processed in the first 32 weeks of 2024, a 1% decrease from the same period last year (-8,978 head). Cow throughput has remained strong with 266,885 cows processed so far this year, a notable increase of 25,200 head (+10%)

Prices

There was a steadying in the base quotes at Irish meat plants this week in response to tighter supplies of suitable cattle . In general, producers were offered a base price of €5.00/kg for steers with reports of up to €5.15/kg available.

Starting quotes for heifers are in the region of €5.05/kg this week with similar room for negotiation being reported. The trade for young bulls was also described as steady, with prices of between €5.10/kg and €5.15/kg on-offer for R grading animals under 24 months of age.

The cow trade remains relatively steady, with well-fleshed O grading cows being offered prices of €4.45-4.50/kg, with a range of €4.60-4.70c/kg available for good quality R grading cows. A significant proportion of the cow kill have achieved a conformation score of P in recent months and the prices available for these animals vary significantly based on grade, weight and quality.

For the week ending 10 August 2024, the average price paid by Irish beef processors for R3 increased marginally to €5.01/kg. This remained 29c/kg ahead the corresponding week in 2023 when the R3 steer price was €4.72/kg. Note that reported prices exclude VAT but include all bonus payments such as in-spec bonus, breed-based producer groups etc.

EU and UK prices

Across the EU, the average reported price for R3 grading young bulls was €5.07/kg (excluding VAT) for the week ending 10 August, 2024. This is 29c higher than week 32 of last year when prices averaged €4.78/kg for this category.

In Britain, tighter cattle supplies and firm demand have meant deadweight beef prices have started to firm again. This week the average UK R3 steer price increased by 3c/kg to €5.70/kg (equivalent to £4.90/kg)

Bord Bia

Cattle market

The cattle market has been generally positive with a 12% lift in the heavy steer price, while yardings eased by 24,406 to 50,244 head (a 30% reduction).

The Processor Cow Indicator rose by 20¢ to 290¢/kg liveweight (lwt) while the Dairy Cow Indicator eased by 4¢. According to the Processor Cow Indicator, prices in NSW lifted by 10¢, while prices eased by 8¢ in Victoria. At Shepparton, beef cows did not have as much weight compared to previous weeks with fewer finished cattle.

The Heavy Steer Indicator lifted by 38¢ to 359¢/kg lwt, with prices 40% above those from a year ago. Queensland prices rose by 31¢ due to substantial lifts in price from Roma and Charters Towers. Victorian prices eased by 10¢, where the quality of yarding was very mixed and a variety of weights limited the price.

Sheep market

The sheep market moved sideways with the exception of the Restocker Lamb Indicator. Yardings held firm, only slightly easing by 3,232 to 272,614 head, with decreases in both lamb and sheep yardings.

The Heavy Lamb Indicator eased by 13¢ to 811¢/kg carcase weight (cwt). There was a price decline of 7¢ at Wagga, where heavy lambs were in short supply and there was a larger number of grain-assisted trade lambs. Victorian prices eased by 77¢, with the largest decline of 104¢ occurring at Bendigo. The best heavy lambs at Bendigo sold for $212–$250 tracking from 900¢ to 950¢/kg.

The Restocker Lamb Indicator lifted by 119¢ to 635¢/kg cwt. Prices lifted by 125¢ in NSW. Wagga prices increased by 191¢ due to newer season lambs entering the market, while prices at Tamworth eased by 181¢ (driven by a mixed quality of lambs with a couple of well-finished lambs). Victorian prices eased by 45¢, with the largest decline at Hamilton.

Slaughter

Week ending 9 August

Cattle slaughter eased by 2,490 to 138,174 head; slaughter has been flat for the past five weeks with slight movements in slaughter across all states. Queensland slaughter eased by 2% to 71,761 head. Year-to-date, WA had the largest drop in slaughter by 33% to 2,663 head. Victorian slaughter eased by 185 head to 1,194 head (a 6% reduction compared to a year ago).

Sheep and lamb slaughter eased by 41, 459 to 575,331 head. SA processor shutdowns have reduced weekly lamb slaughter by 6% to 430,004 head. For the second time in 2024, slaughter is 3% below the same time last year, indicating supply might be tightening during the third quarter. NSW lamb slaughter declined by 5% to 116,358 head.  Sheep slaughter eased by 14,525 to 145,327 head. NSW decreased by 21% to 54,698 head and SA slaughter eased by 70% to 54,698 head.

MLA