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Stock Up On Beef ?

Beef prices down as demand falls short

Producers were eager to market cattle in order to save the available feed but while supplies were ample, prime cattle slaughterings were broadly in line with previous weeks.

AHDB said at 32,000 head, the number was actually below year earlier levels for the second consecutive week.

AHDB market analyst Rebecca Oborne said demand was reportedly ‘lacklustre’ and with EU cattle prices falling as well, processors may be reluctant to increase production.

 

She said: “A number of factors may be in play here, including the looming onset of the European holiday period, as well as increased marketings on the back of the dry weather.

 

“Similarly with cull cows, at 11,300 head, throughputs during the week were estimated to be 11 per cent up on the year, but this was a 5 per cent decline week-on-week. This left -O4L cow prices down 9p on the week at 267.8p/kg, having now lost over 20p in the past five weeks.”

 

Following six consecutive weeks of falling prices, the GB liveweight SQQ gained some ground last week, now standing at 185.68p/kg, a 3.49p increase week-on-week.

 

Auction market throughputs recovered, increasing by 30 per cent to 101,700 head. New season throughputs increased by 29 per cent on the week.

 

AHDB attributed the lift to an additional number of lambs being sent forward due to a lack of grass.

AHDB said at 32,000 head, the number was actually below year earlier levels for the second consecutive week.

AHDB market analyst Rebecca Oborne said demand was reportedly ‘lacklustre’ and with EU cattle prices falling as well, processors may be reluctant to increase production.

 

She said: “A number of factors may be in play here, including the looming onset of the European holiday period, as well as increased marketings on the back of the dry weather.

 

“Similarly with cull cows, at 11,300 head, throughputs during the week were estimated to be 11 per cent up on the year, but this was a 5 per cent decline week-on-week. This left -O4L cow prices down 9p on the week at 267.8p/kg, having now lost over 20p in the past five weeks.”

 

Following six consecutive weeks of falling prices, the GB liveweight SQQ gained some ground last week, now standing at 185.68p/kg, a 3.49p increase week-on-week.

 

Auction market throughputs recovered, increasing by 30 per cent to 101,700 head. New season throughputs increased by 29 per cent on the week.

 

AHDB attributed the lift to an additional number of lambs being sent forward due to a lack of grass.

The first Lairg lamb sale of the season, due to be held on August 14, is traditionally a barometer for trade in hill lambs.

United Auctions director Donald Young, who is in charge of the sale, said he expected about 1,500 fewer lambs to be forward on the day.

 

The Lairg consignments are all North Country Cheviots and most will come to the sale newly weaned and straight off the hills of Sutherland and Caithness.

 

“Growth will no doubt have been slower, but the lambs look reasonable and they have nearly two weeks to go before the sale so I am optimistic,” Mr Young added.

 

Last year’s purchasers of long keep lambs would have seen good margins, which would normally mean they would be keen to reinvest, but Mr Young thought the supply of forage would be the determining factor.

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