Farming News - Lamb throughputs drop 43% whilst beef trade stabilises

Lamb throughputs drop 43% whilst beef trade stabilises

 

Throughputs of lamb dropped 43% on the week as demand decreased significantly following the Muslim festival Eid-al-Adha.

 

Stronger trade in the previous week due to procurement for Eid drove demand although from Monday demand dropped significantly as the festival ended.

 

By Monday 6th October, throughputs were 19% down on the week and realised a drop of 43% on the week by Wednesday 8 October.

 

The Standard Quality Quotation (SQQ) was one penny lower on the week although a drop in prices in the latter part of the week saw the daily SQQs on Monday and Tuesday 4-5 p/kg lower. The SQQ levelled on Wednesday, down only 2p/kg on the week. This stood prices at 153.5 p/kg.

 

The cattle trade was more promising as prices increased in the week ending 4 October with the GB all prime deadweight edging up a penny on the week to level at 348.5 p/kg.

 

Reports such as that from the AHDB, suggest that demand is strong with some processors offering increased prices in order to meet orders.

 

Prices for R4L steers increased a penny realising 360.0 p/kg whilst the same spec heifers remained unchanged at 356.0 p/kg. Young bulls grading R3 hit their highest price since April, achieving 335.8 p/kg, a rise of 2 p/kg. However, other bulls saw a price slump of 3p/kg to level at 324.5 p/kg .

 

The cull cow trade also rose in price despite higher throughputs.

 

In the live weight market, trade wasn’t as buoyant as fewer cows were forward, likely due to a stronger pound subduing export markets.