UK beef prices continued to climb last week as prime cattle prices increased by 1p/kg compared to the week before, the latest report from the AHDB (the organisation for English beef and lamb) shows.
Last week the average price paid for prime cattle slaughtered in the UK stood at 354p/kg (412c/kg).
It says that despite the upward movement in the trade in recent weeks, which has encouraged UK finishers to market cattle, prices achieved at farm level moved up again last week.
However, the price increase seen during the week ending September 17 was much lower than the recent months due to some easing in young bull prices.
But, the AHDB says competition from processors continues to remain a key feature of the market, as waiting lists to have cattle slaughtered are non existent.
Furthermore, processors are having to actively seek cattle to meet retail orders and to maintain their cold room stocks.
Key price changes:
- R4L steer prices increased by 2p/kg to 367.9p/kg (429c/kg)
- R4L heifer prices moved up by 2p/kg to 367.6p/kg (428c/kg)
- R3 young bull prices eased by 3p/kg to 345p/kg (402c/kg)
UK Cow prices ease
Despite the increase in prime cattle price, the AHDB says that the cow trade eased last week with the overall average price falling by 3p/kg to 210.6p/kg (245c/kg).
The price of O4L cows also dropped with returns to the farmer declining by 1p/kg to 238.9p/kg (278.32/kg).
Despite this, given the fall in the value of Sterling, price competitiveness of UK cow beef in euro markets is still going to offer support to the market, it says.