Farmgate prices in Scotland enjoy year-on-year growth
Quality Meat Scotland’s (QMS) latest analysis has revealed that farmgate cattle prices in Scotland jumped 13% higher than the same period last year, reaffirming the beef market’s stability over the past two months.
Stuart Ashworth, head of Economics Services with QMS.
Head of Economics Services with QMS, Stuart Ashworth, attributed the boost to a lower availability of prime cattle in Scotland than last year, as well as lower carcase weights.
Within this supply profile, he noted, prime heifer available is little changed, while steer and young bull numbers have fallen.
Ashworth added: “Average steer carcase weights during April in Scotland were reported as 387kg, 10kg lighter than last year and 4kg lighter than March.
“Heifers produced carcases 3kg lighter than last year during April.”
Commenting on the cattle landscape in England and Wales, Ashworth said that abattoirs are now seeing more plentiful supplies, despite having recorded lower stock availability in the first quarter of the year.
However, the recent move to a slightly increased supply in England has not constrained the market, as prices are up 12% compared to last year and 10p/kg dwt higher than at the end of March.
Ashworth noted that according to census data and data from BCMS would suggest that a combination of tighter male cattle supplies and more stable heifer supplies within Scotland is likely to continue through the summer.
He added: “Equally, though, the English market is likely to remain slightly better supplied than last year.
“Census data showed an increase of 3% in one to two-year-old males on English farms last December while in Scotland there were 3.5% fewer.”
Commenting on the sterling’s exchange weakness since the referendum vote last June, Ashworth highlighted that it has “contributed to lower imports of beef into the UK”.
However, a combination of lower production, lower imports and slightly improved consumer demand has meant that UK beef prices are higher than last year, in terms of the Euro currency.
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