Forecast points to firmer beef prices next year
Forecast points to firmer beef prices next year
UK beef prices should firm up next year amid tighter supplies, according to the latest forecasts from EBLEX.
EBLEX’s latest outlook for the UK beef market confirmed that production and cattle availability will be lower in 2015. With lower production, robust exports and lower imports expected, forecasts point to the prospect of stronger prices.
Debbie Butcher, senior analyst for EBLEX/AHDB MI, said: “The market has been under pressure for most of this year, largely due to higher supplies, and that has been well documented.
“However, with supplies available next year falling, the UK beef market should be under less pressure than it has been for much of 2014. As such, the possibility of firmer prices should improve, although, as ever, it will depend on consumer demand.
“Also, while production levels are expected to be lower, firm demand for manufacturing beef could potentially support exports into 2015. The fifth quarter trade is also likely to present the industry with an opportunity to maximise returns through full utilisation of the carcase.”
See Debbie Butcher give a short overview of the beef market on EBLEX TV.
The latest beef and sheep market outlooks can be found in the Publications of the EBLEX website www.eblex.org.uk
