UK cattle prices are rising
Cattle prices in the UK are on an upward trend since March and the end of May marked another increase in prices setting the average at 367.14 pence/kg, with 1.88 pence higher than the week before and over 20 pence higher than the 5-year average.
Young bull prices have risen for the fourth consecutive week to reach 352.9 pence/kg, an increase of 6.7 pence on the previous week and 25 pence above the 5-year average. As young bull throughputs are relatively low, prices can be more volatile than heifers and steers depending on carcase quality. Nevertheless, the upward trend registered since March is showing an increased demand for the young bull beef, mainly due to the strong demand of manufacturing beef.
On the other hand, overall steer price gained 1.7 pence on-the-week to stand at 367.6 pence/kg and the overall heifer price increased to 367.14 pence/kg, up 1.9 pence from the previous week.
The number of animals slaughtered in the week ended 26 May was 8% higher (+2,700) than the same week a year ago, totalling 35,600 head.
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