Weekly cattle and sheep market wrap

Deadweight prices for week ending 29 November cover GB. Liveweight prices for the week ending 30 November cover England and Wales (E&W).

Key points

• Growth in cattle prices slowed and supply increased ahead of Christmas. Cow prices face pressure against increased slaughter rates and movements in dairy markets
• Beef price inflation has slowed and evidence suggests consumers are adjusting to higher beef prices ahead of the important festive period
• Sheep prices strengthened as numbers remained low, with values across finished, store and cull markets appreciating on the week. Store price inflation remains a watchpoint for margins in the spring.

Cattle

Growth in GB cattle prices slowed in the latest reporting week as throughputs rose and Christmas kills near completion. The GB deadweight all-prime average measure gained 0.2p from the week prior to average 661p/kg in the week ending 29 November, up 126p year-on-year.

This came as estimated GB prime cattle kill jumped up by 1,300 head to 33,200 head for the week, putting throughputs marginally (100 head) below the same week a year ago. This was the highest weekly estimated kill since early June.

Looking at prices by category, steers and young bulls lost ground on the week to stand at 662p/kg (-0.2p) and 643p/kg (-8p), respectively. Heifers meanwhile gained 1.7p to average 660p/kg overall.

Average cow values meanwhile continued to ease as higher slaughter persisted, potentially reflecting current dairy market moves. The GB overall cow price lost 9p to 514p/kg in the week ending 29 November as slaughter stood on at 12,500 head.

While year-to-date beef retail purchases have been dampened by inflation, more stability in recent volume sales data suggests that consumers may be adjusting to higher prices as the rate of inflation slows. Stability in prices may be welcomed by budget-conscious shoppers and help support volume sales over Christmas.

Sheep

Meanwhile, the GB deadweight NSL SQQ ticked up by a further 15p to average 710p/kg in the week ending 29 November. Estimated slaughter stayed relatively consistent from the previous week at 217,400 head, down 6% year-on-year.

In live markets, the E&W liveweight NSL SQQ gained 3p to average 328p/kg for the week ending 30 November as numbers jumped over 20% on the week to 52,900 head.

Elsewhere in the live market, cull ewe values also appreciated, with the E&W average up £7.70 to £134.50/head.

Average weekly cull ewe prices, E&W, 2024 - 2025

Source: LAA

Store sheep prices regained some ground lost the week prior, with lambs averaging £112.00/head across E&W in the week ending 30 November (+£2.50 week-on-week). Analysis of liveweight pricing suggests that through October-November, year-on-year price inflation in the store lamb market was above that of the finished trade, suggesting stronger demand for these animals. However, this might lead to more scrutiny over the finished price in the spring and indicates a further watchpoint on producer margins.

Comparison of year-on-year % change across store and finished lamb prices

Source: LAA, AHDB.
NSL = new season lamb. Liveweight prices cover England & Wales, deadweight prices cover GB.

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