Weekly cattle & sheep market wrap – 4 July 2024

Key points 

Prices for week ending 29 June

• Average prime deadweight cattle prices responded to some pressure from lower supplies this week as prices lifted across all categories in the week ending 29 June.
• The GB deadweight new season SQQ moved downwards for the second week in a row as seasonal demand waivered and throughputs increased slightly on the week.

Cattle

GB deadweight prime cattle prices firmed across all categories in the latest week’s data, as throughputs lowered on the previous week. The average overall steer price gained 0.9p to sit at 478.7p/kg, whilst heifers moved up by 0.4p to average 476.2p/kg across all classifications. Young bulls saw the greatest uplift of the week averaging 471.3p/kg, up 2.5p on the week previous.

Looking at prime cattle numbers, estimated weekly kill was down 1,000 head to total 33,100 animals. This decrease was driven by reduced numbers of steers and young bulls, whilst heifer numbers were flat on the previous week.

Turning to cows, the GB overall average deadweight cow price was 360.3p/kg for the week ending 29 June. This was an uplift 1.2p on the week to sit back at the same price as two weeks previous. Estimated weekly cow kill was showed little change in number from the previous week. However, cow throughputs were down notably (-1,000 head) year-on-year.

As the weather finally looks to be improving and the summer sports events get underway, we look towards barbeques to bolster retail demand. Recently released AHDB data identified that gathering sizes of 5+ people peak during the summer season for beef, alongside an increase in spontaneous meals. Market reports have suggested upticks in steaking items and trimmings, in the latest week, alongside burgers.

Sheep

In the same week ending 29 June, the GB deadweight new season SQQ averaged 746.7p/kg. This was a fall of 33.3p from the week before and was the second consecutive week recording a similar decline. Increased numbers and the passing of key religious festivals are leading to the seasonal ease of prices. However, tight supplies are keeping prices elevated year on year.

Estimated slaughter for the week was 186,500 head, a slight (3.5%) increase on the previous week’s number. This brings the total estimated kill for the year to date up to 5.1 million head, back 11% on 2023.

The seasonal downturn in lamb prices has also been seen on the continent, with a decline across all categories in wholesale prices at Rugis Market, Paris continuing into this week. This potentially reflects a softening in export demand in key markets, which can be attributed to reports of lower buyer interest and increasing spring supplies. Market reports in the EU suggest that increased temperatures are having a detrimental effect on overall meat consumption, however there is a shift in cuts from those for boiling to those better suited to grilling.

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