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Weekly cattle and sheep market wrap – 31 October 2024
Thursday, 31 October 2024
Key points
Prices for week ending 26 October
- Prime cattle prices continue to rise, with R4L steers and heifers sitting at 525p/kg or higher on average.
- Cow prices have seen further price reductions as high kills continue into the seasonal peak.
- GB SQQ lamb price rose slightly, while AHDB estimated slaughterings increased by 8% compared to the previous week.
Cattle
Average GB prime cattle prices continued to rise for the week ending 26 October, as weekly prime slaughter eased slightly, back 1.3%. The R4L average steer price witnessed further price gains in the week, up 2p to 527p/kg. Meanwhile the R4L heifer price gained 0.5p to average 525p/kg.
Estimated GB prime cattle kill stood at 35,300 head for the week ending 26 October, back 500 head. This was still up 500 head (2%) versus the same week a year ago.
The overall average cull cow price dropped 5p to stand at 349p/kg in the latest week, the largest weekly movement we’ve seen in the market since the turn of the year. However, the price remains 47p up when compared to the same point in 2023. Cow slaughterings continue the seasonal march, up marginally on the week to 12,700 head, placing kills up very slightly both on the week and year.
Sheep
Meanwhile, the GB deadweight sheep SQQ averaged 619p/kg for the week ending 26 October, up slightly on the week despite an increased kill, while the SQQ sits 46p higher year-on-year.
Estimated GB clean sheep slaughter rose by 8% from the previous week to 220,000 head but was still down notably on the same week a year ago (-11%; 28,000 head). This remains a volatile period for throughputs, with the estimated kill patterns seeing some large week by week movements through October, as reports of mixed levels of finish and bouts of weather continue to disrupt a more typical slaughter pattern.
Export values through key wholesale markets are seemingly tracking relatively flat, however a strengthening pound continues to alter the picture. The latest forecasts from the European Commission suggests a tightening production picture across the EU through 2024.
Closer to home, market reports continue to highlight the disparity in levels of finish within the crop, with well fleshed lambs continuing to remain resilient in the face of a more mixed trade.
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