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Cattle prices fall through June
Wednesday, 12 July 2023
GB prime cattle prices have fallen during the month of June but remain elevated on prices seen at the same period last year, as we see higher slaughter levels throughout the month.
The all-prime deadweight average measure was 481.4p/kg for the four weeks in June. This represents a fall of just over 10p from the four weeks in May, where the measure reached an all-time high of 491.5p/kg. The week ending 1 July saw the average fall to 476.1p, down 10p from the beginning of the four-week period. Prices continued to exceed levels seen in the same month in previous years, at 39p higher than 2022, and just over 101p higher than the 5-year average.
Steer prices averaged 482.6p/kg for the four weeks in June, down 10.6p from May, as prices ended the month at 477.6p. This was a fall of 10.6p throughout the month, but still up 39.6p on the year, and 102p on the 5-year average.
Heifer prices showed a similar pattern, averaging 480.4p/kg in June, down 9.5p from May, to a low of 475.3p for the week ending 1 July. Prices fell 10.7p throughout the month, but again remain elevated by 38.3p and 99p from 2022 and the 5-year average respectively.
Prices for young bulls followed the same trajectory, averaging 477.4p/kg for June, down 8.5p from the four weeks in May. The lowest price of 472.3p was recorded in the week ending 1 July. Again, June’s average prices remain elevated from the previous year, and 5-year average by 39p and 105p respectively.
Elevated cow prices have been driven by a number of factors, but have also seen declines over the month of June. The monthly average sat at 380.9p/kg, down 7p from May, with the final week ending 1 July averaging 372.5p/kg. Price gains on the year are more subdued at 15.9p, but still 99.5p above the 5-year average.
Estimated prime cattle slaughter levels sat at 134,100 head for the four weeks of June, averaging 33,500 head a week, as throughputs sat 5,500 head (4%) higher than the same period in 2022. This was also up 6,600 head from the 5-year average for the same four weeks. Higher throughputs for June may have contributed to easing cattle prices. Cow slaughter also stood higher on the year for the same four weeks at 35,800 head (+4%) but was lower than the five-year average.
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