HCC has found that red meat trade figures reveal “significant” impacts on both beef and lamb markets in the future.
UK trade figures showed that UK beef production had increased by 4% while sheep meat production declined by 7% in 2024. The rise in beef production was driven by a 3% increase in total throughput, while the number of sheep and lambs processed fell by 8% compared with 2023 data.
Glesni Phillips, HCC’s intelligence, analysis and business insight executive, said: “These changes in domestic production, recorded by Defra, have directly impacted the availability of meat for export and contributed to notable shifts in red meat trade dynamics in 2024.”
HMRC figures indicate UK sheep meat exports totalled around 79,500 tonnes, down some 6% from 2023. However, the total value of these exports rose by 7%, reaching £582.8 million.
Phillips commented: “This was likely due to strong UK and global farmgate prices. Subdued volumes are possibly a result of tight domestic supplies, with production falling 7% in the UK to 266,500 tonnes.
“Despite this, export levels in 2024 were higher than both 2022 and 2021. Exports to both the EU and non-EU markets fell, with Ireland and Germany seeing the largest decreases in tonnage.”
UK imports of sheep meat surged by 40% on the year, reaching 67,880 tonnes – the highest level since 2018.
Continuing, Phillips said: “This was driven primarily by increased imports from New Zealand – up 14,300 tonnes – and Australia – up 6,500 tonnes.”
These two markets now account for 86% of UK sheep meat imports, up from 78% in 2023. HCC found that the rise in imports reflected lower prices from the Southern Hemisphere along with the new Free Trade Agreements, along with a tight domestic supply and record level deadweight prices in the UK. Phillips observed that imports had grown “in order to meet demand”, which has “spiked” around key religious festivals.
Beef exports up on the year
Further HMRC data identified the UK exported nearly 113,000 tonnes of beef during 2024, a 9% year-on-year increase. The total value of these exports grew by 16%, reaching £567.2 million. Phillips said this growth was driven by increased shipments to France, Canada, and the Netherlands.
Ireland remained the top destination for UK beef, but its share dropped from 34% in 2023 to 29%, with a 7% decrease in imports to 32,500 tonnes. UK beef imports also rose during the year, with volumes up 8% to 240,700 tonnes. The value of these imports increased on the year by 11%, reaching to £1.4 billion. Ireland remained the main supplier, and the volume of Irish beef imported grew by 13%. Shipments from both New Zealand and Australia also saw growth and accounted for almost 50% of volumes from non-EU countries.
Export data for the year showed the total value of red meat (fresh/frozen) exports from Wales reached £277.4 million – 9% higher than a year earlier. Beef exports were also estimated to be 9% higher, reaching almost 16,000 tonnes, with their value also rising by 16%. For sheep meat, domestic supply constraints led to a 7% decrease in export volumes to an estimated 27,200 tonnes.
“Despite this decline, the value of sheep meat exports increased by 6% on the year, driven by stronger farmgate prices,” said Phillips.
