Weekly cattle and sheep market wrap – 26 September 2024

Prices for week ending 21 September

Key points:

• The average GB deadweight prime cattle price continued to lift, as overall heifer and steer categories recorded weekly growth of over 2p/kg
• Meanwhile, the GB deadweight lamb SQQ dipped slightly by nearly 2p/kg compared to the previous week as we saw a few more animals come forward
• Retail demand for beef and lamb was helped by the better weather in the 12 weeks ending 1 September

Cattle

The average GB deadweight prime cattle price once again saw another jump for the week ending 21 September of just over 2p/kg to sit at 504.1p/kg. This now sits 27p higher than the same week in 2023, and over £1 higher than the five-year average.

Breaking this down into categories, the overall steer price saw growth of 2.4p from the previous week to continue its ascent up to 506.4p/kg. The overall heifer price saw a similar change of +2.1p/kg to 503p, as the overall young bull price marked a 0.6p dip to 493.5p/kg. The overall cow price dropped by 1.7p/kg from the previous week to 358.9p/kg, continuing the period of relative stability since the end of August.

AHDB estimated prime kill was 1,900 head higher compared to the week prior, sitting at 32,700 head. This was 200 head lower than volumes for the same week in 2023. Steer and heifer kill recorded growth of 1,500 and 1,200 head from the previous week, suggesting that the uplift in price was demand driven. Market reports suggest that demand in both wholesale and retail markets is growing in the run up to Christmas. Equally, data suggests that cattle supply will tighten into Q4 and into 2025.

Looking into retail volumes of beef sold, this increased by 1.6% year-on-year in the 12 weeks to 1 September. This was primarily driven by an 8% uplift in burger and grill sales, compared to primary volumes which were stable, spurred on by better weather during this period.

Sheep

Meanwhile, the GB deadweight lamb SQQ dipped slightly to 641.1p/kg for the week ending 21 September. This marked a 1.8p drop from the previous week, a shallower decline than the previous two weeks. The price sat 88p higher than the same week in 2023.

Looking into numbers forward, AHDB estimated GB kill sat just over 2,000 head higher than in the previous week. This brought throughputs up to an estimated 206,500 head for the week ending 21 September. This week continues the seasonal trend of higher kill since late July, but remained 16,800 head back from the same week last year.

More generally, the store and breeding markets are reportedly at strong levels, with higher prices per head compared to last year for some breeding stock.

Consumer demand for lamb remains strong despite a near 6% increase in the average price paid for lamb in retail (in the 12 weeks to 1 September). Volumes during the same period grew by just over 4% year-on-year, likely as better weather drove higher frequency of shops for burgers and grills.

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