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AHDB Cattle and Sheep Weekly

16 May 2016

AHDB Cattle and Sheep Weekly - 16 May 2016AHDB Cattle and Sheep Weekly - 16 May 2016

Welcome end to falling cattle prices

With the supply and demand balance having swung in producers’ favour, competition from processors is reported to have been more solid in week ended 7 May. Waiting lists are reported to have evaporated and, while cattle ‘out of spec’ have still proven trickier to place, they have still found a home. Consequently, the downward pressure on finished prices, which had already been slowing, finally came to a halt. The GB overall prime cattle average increased just over a penny to 310.9p/kg. While there have been a couple of weeks this year in which prices have edged up, this represents the most significant uplift since the end of September last year. Steers and heifers meeting R4L classification were both up a penny to 323.2p/kg and 322.9p/kg, respectively. Overall, young bulls strengthened 4p on the week to 296.8p/kg.

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Lamb prices up on the week

Liveweight lamb prices continued to rise in the past week, meaning they remain above year-earlier levels for the second consecutive week.

In the week ended 11 May, the old season GB SQQ at UK auction markets rose by 4p on the previous week to reach 182.4p/kg. This was 3p above levels from the same week in 2015, the second week in a row where levels have been up year-on-year. However, the largest increases were seen at the beginning of the period, with the old season GB SQQ actually falling 3p on Wednesday 11 May. Prices rose at the beginning of the week as the value of the pound began to fall again, following some recovery in the previous week. Demand during the week is also thought to have risen, as supplies throughputs were up.

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