Farming News - Cattle prices continue to spiral
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Cattle prices continue to spiral
A continuing tight supply of prime cattle meant prices continued to firm in the week ending April 6, according to the latest EBLEX report.
The GB all prime cattle indicator increased a penny, averaging 387.7 p/kg, up 14% on levels seen earlier this year. R4L steers also rose, also up 1 pence, to stand at 395.1 p/kg – not a far cry from the 400 p/kg mark.
It wasn’t as rosy in the week ending April 10 though, things fell slightly, with Heifers standing at 214.1 p/kg, down 1.9 p/kg on the week while bulls rose 4.1, levelling at 199.1 p/kg.
With minimal grass growth across the country, a strong beef price is undoubtedly needed to combat increasing costs of feed and wintering cows inside. Extra feeding is likely to influence the supply of cattle and sustain these tight supplies due to the lack of grass and the inability to finish beast.
Despite the horsemeat scandal last month, frozen beef supplies also remain strong, up 3% on the year. Roasting joints and stewing cuts are said to be the underpinning factor in this growth.