Cattle slaughterings were back on the week and back over 6% on the year according to EBLEX. In the week ended 20 July, at 396.5p/kg the  GB all prime cattle indicator was almost 2p back on the week. 

However, trade is still strong with the good weather creating demand for forequarters and steak although higher value cuts are slower to shift.

With supplies remaining tight despite a recent flush of young bulls coming to the market, supply and demand is likely to remain finely balanced, EBLEX reckons.

Cull cow trade eased on the week, with -O4L’s standing at 293.1p, back 3.7p on the week while all other cows were back 7.6p on the week, levelling at 273.9 p/kg. Despite this, cow numbers are back on the year and this trend is likely to continue throughout the summer thus likely to support prices further.

On the continent, cow prices have remained strong so far. Similar to the GB market, the EU cow market has been boosted by lower supplies although demand has also increased, led predominantly by France, the largest cow beef market in the EU.

From January to May slaughtering’s were down 10% year on year and with a surge in demand, likely due to consumers watching what they spend, prices increased 10% in France, with a similar trend observed in Germany and the UK.

The same couldn’t be said in Ireland though with prices easing during June likely to be the onset of a 14% rise in cow slaughtering’s from January to May.

However the UK beef industry remains strong with the value of UK exports up 12% on the year to stand at £34.1 million. This increase is due to a 13% increase in the unit price of beef which offsets the 1% decline in beef and veal exports and lower volume of product.