MLA Releases 2026 Global Meat Market Snapshots

Meat & Livestock Australia (MLA) has published its 2026 Global Market Snapshots to provide insights into the global meat market outlook. The publication outlines key trends shaping beef, sheepmeat and goatmeat markets across major international destinations. These changes are happening as global supply tightens and trade flows adjust.

The snapshots highlight ongoing cattle herd contraction in the United States and continued strong demand across Asian markets. There is also a rebalancing of global beef supply led by exporters such as Australia, Brazil and New Zealand. MLA notes that declining US beef production is expected to support global prices. This trend is also creating new export opportunities for southern hemisphere suppliers. As a result, the global meat market outlook has become particularly relevant for exporters navigating these changes.

In sheepmeat, global supply remains constrained, with Australia and New Zealand continuing to dominate export availability. Meanwhile, demand from the Middle East, China and emerging Asian markets is expected to remain resilient. However, price sensitivity is increasing in some regions amid economic pressure. These factors are central to discussions on the global meat market outlook for 2026.

MLA said the snapshots are designed to provide exporters, processors and producers with a clear, comparable overview of international market conditions. Anyone involved in strategic planning or risk management should consider the global meat market outlook as outlined by MLA when making decisions in an increasingly volatile global environment.

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Source: Meat & Livestock Australia | 6 February 2026

Australian Weekly Cattle and Sheep Market Wrap

Australian cattle and sheep markets experienced a sharp rebound in supply this week following widespread saleyard closures caused by extreme heat and the Australia Day public holiday, with cattle prices holding steady while sheep markets came under pressure.

According to Meat & Livestock Australia (MLA), yardings increased significantly across all NLRS saleyards as deferred numbers came forward. Despite the surge in supply, cattle prices proved resilient, supported by ongoing demand and tightening seasonal conditions across large parts of New South Wales, where rainfall has been below average for four consecutive months.

At Dubbo, large numbers of cow-and-calf units were offered, while Wagga saw a notable lift in calves sold directly off cows. The National Young Cattle Indicator remained steady week on week at 450¢/kg liveweight, while the Eastern Young Cattle Indicator held at 842¢/kg carcase weight. The Processor Cow Indicator eased slightly, falling 5¢ to 361¢/kg liveweight.

Sheep markets were more volatile. Domestic demand was erratic, particularly across southern NSW and Victorian centres, although feedlot buying helped underpin trade lamb prices. Mutton buyers focused on very heavy lines. The Mutton Indicator held firm at 766¢/kg carcase weight, while the National Trade Lamb Indicator fell 27¢ to 1,108¢/kg cwt.

Slaughter numbers declined across all species during the week ending 30 January, reflecting the public holiday. Cattle slaughter fell to 124,662 head week on week, although throughput remains above both 2024 and 2025 levels. Lamb slaughter totalled 367,629 head, running around 13% below last year, while mutton slaughter dropped to 138,360 head, remaining 21% lower year on year.

MLA analysts noted that while short term supply surges can pressure prices, underlying fundamentals remain influenced by seasonal conditions, herd dynamics and ongoing producer decision making.

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Source: Meat & Livestock Australia | 6 February 2026

Prime Cattle Prices Ease as Lamb Trade Weakens in GB

GB prime cattle prices came under pressure in late January as higher numbers forward weighed on the market. lamb prices continued to soften amid weaker domestic and export demand.

In the week ending 31 January, the GB deadweight steer price fell by 4.5p to average 638p/kg, while heifer prices eased 1.5p to the same level. Young bull prices also weakened, down 3.9p to 618p/kg. Estimated GB prime cattle slaughter increased by 900 head week on week to 34,800 head. In addition, year-to-date throughput is now 1% higher than the same period in 2025.

Market feedback suggests that greater supplies are meeting a softer demand profile. Reports indicate slower retail and foodservice demand as consumers rein in spending following the Christmas period.

In contrast, GB cow prices continued to strengthen, rising 3.8p to 512p/kg in the latest reporting week. Cow prices have increased in every week so far in 2026. The differential with prime cattle is narrowing as seasonal demand for manufacturing beef improves. Estimated cow slaughter declined by 900 head to 10,300 head week on week.

Sheep markets remained under pressure. The deadweight old-season lamb (OSL) SQQ dropped a further 10p/kg to 679p/kg, leaving it 31p/kg below year-ago levels. Supplies were reported above last year, while demand has weakened both domestically and for export.

By contrast, the liveweight OSL SQQ (England and Wales) increased 16p to 337p/kg in the week ending 1 February, marginally above the same week last year. Average cull ewe prices eased to £126.90/head. However, this remains £1.30/head higher year on year due to tighter availability.

Estimated clean sheep slaughter for the week ending 31 January totalled 193,600 head, down 2,400 head week on week. However, this was more than 19,000 head higher than the same week last year, which was historically low.

Weaker demand signals are also emerging in continental markets. Prices at Rungis Market in France have been falling steadily since the start of the year, pointing to softer demand conditions.

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Source: AHDB | Weekly Cattle and Sheep Market Wrap | 5 February 2026

Pig Prices Fall 15% Year on Year Despite Strong Supply

Irish pig prices continued to ease in late January as strong slaughter throughput coincided with growing downward pressure across European markets.

For the week ending 24 January, the average reported deadweight price for Grade E pigs in Ireland fell to €1.69/kg (excluding VAT). Producer prices across processors generally ranged between €1.74/kg and €1.76/kg, reflecting a softer market tone.

Current prices are running 15% below the same week last year, when Grade E pigs averaged €1.99/kg. Across Europe, pig prices remain under strain. The EU average Grade E price held at €1.48/kg, but this remains €0.31/kg lower than the corresponding week in 2025. Denmark and Spain both reported further price declines of €0.04/kg and €0.02/kg respectively.

Despite weaker pricing, slaughter activity remains strong. Combined pig throughput for the first four weeks of 2026 reached just under 266,000 head, more than 18,000 head higher than the same period last year. In the week ending 24 January alone, total slaughterings amounted to 69,674 head, including 1,691 sows and 7 boars.

Overall, fattener pig throughput is up 7.7% year on year, signalling continued supply strength at a time when market prices are trending lower. Industry observers note that sustained throughput levels may continue to weigh on prices unless demand improves or European production eases.

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Source: Bord Bia | Pig Trade & Prices | 6 February 2026

Extreme Heat Disrupts Australian Cattle and Sheep Markets

Unseasonal extreme heat across eastern Australia caused widespread saleyard closures this week, significantly disrupting livestock market reporting and weighing on price indicators.

According to Meat & Livestock Australia (MLA), multiple major saleyards were cancelled as animal welfare was prioritised, including sites in South Australia, New South Wales, Victoria and Queensland. The closures, combined with the Australia Day public holiday, resulted in reduced yardings and less reliable indicator data.

Cattle market

All cattle indicators declined during the week, largely due to reduced saleyard activity rather than a deterioration in underlying demand. The Processor Cow, Feeder Steer and Feeder Heifer Indicators were most affected, with declines of up to 5,000 head limiting buyer competition and amplifying price volatility.

MLA said indicators are expected to stabilise once a full seven-day reporting period resumes in early February.

Despite market disruption, national cattle slaughter reached 143,640 head in the week ending 23 January, running 2% higher year-on-year, suggesting herd numbers remain resilient and that flooding in northern regions has had limited impact on processing throughput so far.

Sheep and lamb market

Lamb prices lifted overall, while mutton values softened. Reduced throughput saw lamb categories selling direct to slaughter – including heavy, trade and light lambs – largely insulated from saleyard disruption.

Lamb slaughter reached 440,000 head, up 10% on the same period in 2024, though below last year’s seasonal peak. Mutton slaughter remained subdued at 158,000 head, reinforcing signals that producers are retaining breeding ewes amid strong prices.

Currency pressure

MLA also highlighted currency headwinds, with the Australian dollar strengthening by 5% against the US dollar since early January. The appreciation may weigh on export competitiveness and limit processors’ ability to lift livestock prices further down the supply chain.

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Source: Meat & Livestock Australia | 30 January 2026
Attributed to Stephen Bignell, MLA Manager – Market Information

UK Cattle and Sheep Markets Show Mixed Momentum

The latest weekly cattle and sheep market wrap highlights a mixed picture across UK livestock markets. Cattle prices are broadly steady, lamb values remain under pressure due to higher throughput and variable demand.

According to Agriculture and Horticulture Development Board (AHDB), prime cattle trade continues to be supported by tight supplies and firm processor demand. However, price movements remain cautious as abattoirs manage throughput and margin pressure.

In the sheep sector, lamb prices softened in several regions, reflecting increased numbers coming forward and more selective buyer behaviour. Despite this, AHDB notes that underlying fundamentals remain supportive, particularly given ongoing below-average lamb slaughter levels year-on-year.

Cull cow prices held relatively firm, underpinned by limited availability and sustained interest from processors. Meanwhile, store and breeding sheep demand varied depending on quality and regional conditions.

On the processing side, slaughter data continues to point to reduced sheep throughput compared with last year. However, cattle slaughter remains elevated in some regions as processors catch up following earlier disruptions.

AHDB said weather conditions, seasonal supply patterns, and processor capacity adjustments will continue to influence short-term price direction. Market volatility is expected to persist into the coming weeks.

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Source: AHDB Weekly Cattle and Sheep Market Wrap | 30 January 2026

UK Cattle and Sheep Markets Show Mixed Trends This Week

UK cattle and sheep markets delivered a mixed performance this week, with cattle prices generally steady to slightly firmer, while lamb values showed variation depending on quality and region.

According to the latest update from Agriculture and Horticulture Development Board (AHDB), prime cattle prices remained well supported, underpinned by tight availability and continued processor demand. Slaughter numbers remain historically low, reinforcing underlying market firmness despite ongoing cost pressures further along the supply chain.

Cull cow prices were largely stable, with demand holding up across most regions as processors seek to maintain throughput levels amid constrained supply.

Sheep market

In the sheep sector, lamb prices showed mixed movements, with stronger returns for well-finished and heavier-weight lambs, while plainer types came under pressure. AHDB noted that buyer demand remains selective, reflecting cautious retail and wholesale conditions.

Mutton prices eased slightly in some areas, although overall throughput remains limited following significant destocking earlier in the season.

Slaughter and supply

AHDB data continues to highlight structural tightness in UK red meat supply, particularly in beef. While slaughter levels have stabilised compared with late 2025, they remain well below historical norms, supporting price levels into early 2026.

Market analysts say near-term price direction will remain closely tied to availability rather than demand growth, with limited signs of any material increase in livestock numbers.

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Source: AHDB | 23 January 2026

Cattle Prices Ease While Lamb Strengthens in Australian Market

Australian cattle markets softened in the week to 23 January, with all major indicators easing except restocker steers, while lamb prices strengthened as reduced supply met firm buyer demand.

According to the latest weekly wrap from Meat & Livestock Australia (MLA), the Restocker Yearling Steer Indicator continued to firm as demand for grass-ready cattle remained strong early in 2026. Yardings lifted week-on-week, but competition for suitable steers persisted.

In contrast, the National Processor Cow Indicator fell 10¢ to 372¢/kg liveweight, reflecting a decline in quality and increased female turn-off. Southern New South Wales producers were reported to be offloading cows with calves amid tightening feed conditions.

Sheep market

Lamb prices rose, supported by lower yardings ahead of the Australia Day public holiday. The Trade Lamb Indicator increased 30¢ to 1,085¢/kg carcase weight, driven by strong competition for well-finished lambs. Trade lamb throughput fell by more than 6,400 head week-on-week.

Mutton prices softened slightly, with the Mutton Indicator down 1¢ to 749¢/kg cwt, as buyer numbers eased despite higher supply.

Slaughter trends

National cattle slaughter rose to 138,344 head, as processors returned to full capacity following the New Year shutdown. All states recorded week-on-week increases except Queensland, where flooding disrupted operations and throughput fell 4% year-on-year.

Sheep and lamb slaughter continued to trend lower year-on-year, with national sheepmeat throughput down 14%. The decline reflects both producer retention and reduced availability following heavy destocking earlier in 2025.

MLA said the data points to ongoing supply tightness, particularly in sheepmeat, while cattle markets remain sensitive to seasonal conditions and feed availability.

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Source: Meat & Livestock Australia | 23 January 2026
Attribution: Emiliano Diaz, MLA Senior Market Information Analyst

EU Pork Prices Plunge as Rising Production Weighs on Market

EU pork prices have fallen to their lowest level since March 2022, as rising production and market disruption combine to place heavy downward pressure on values across the bloc.

According to the latest market update from Agriculture and Horticulture Development Board (AHDB), the EU grade S reference price dropped to 132.68p/kg in the week ending 11 January 2026. The decline has been particularly sharp in Spain, where an African swine fever (ASF) outbreak has accelerated market weakness, with prices falling 37.73p/kg in just six weeks.

EU pig meat production continues to expand, totalling 18.2 million tonnes between January and October, up 4% year on year. The increase in supply has outpaced demand growth, intensifying competition within the single market and dragging prices lower.

The downturn has also widened the UK–EU pork price gap to 65.46p/kg, the largest differential in more than a decade, highlighting the contrasting supply dynamics between the UK and continental Europe.

AHDB said the situation underlines the ongoing vulnerability of the EU pork sector to disease events, production cycles and export pressure, with price volatility likely to persist into 2026.

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Source: AHDB | 22 January 2026

China Lifts Ban on Canadian Beef, Reopening Key Export Market

China has officially lifted its ban on Canadian beef. This reopens a major export market that had been closed since an atypical BSE case was identified in Canada in December 2021.

The decision restores access to what was previously Canada’s fourth-largest beef export destination. The move is expected to support Canadian processors seeking to rebalance exports toward Asia.

However, exporters face important constraints. Canadian beef entering China will be subject to significant tariffs. It must also compete within a general import quota. This places it alongside other global suppliers rather than under preferential access. Industry representatives note that while the reopening is strategically positive, commercial volumes may ramp up gradually.

The decision underscores China’s continued use of BSE risk management and market controls in shaping beef imports. Additionally, it comes as Asian demand remains a key outlet for higher-value cuts and carcase balance for exporting nations.

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Source: CBC News | 20 January 2026