UK Market Survey HEADLINE PRODUCER PRICES. Inside this week. Increased calf registrations. Increased calf registrations

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1 UK Market Survey 15 June Increased calf registrations ecent data from the British Cattle Movement Service (BCMS) indicated that the trend towards increased calf registrations, which became apparent in the last quarter of, has continued through the first three months of this year. During January to March calf registrations in Great Britian increased by nine per cent, or 55,000 head, compared with the same period in. The number of registrations over this time was almost 700,000 head, two thirds of which were registered as nondairy animals Oct11 Nov11 Change in GB calf registrations Dairy Dec11 Jan12 Source: BCMS Beef Feb12 Mar12 12/23 HEADLINE PODUCE PICES GEAT BITAIN DEADWEIGHT Week ended p/kg Pence Pigs GB DAPP (EU spec) GB DAPP (UK spec) GB Cattle Deadweight 4L Steers L Heifers Young bulls O4L cows GB Sheep Deadweight New season SQQ lambs GEAT BITAIN LIVEWEIGHT Week ended (Thurs/Wed) p/kg Pence All steers All heifers All young bulls All cows The overall increase was driven by higher numbers of registrations across all categories of cattle. There was an eight per cent increase in female nondairy calf registrations, which suggests there may potentially be longer term growth in the beef breeding herd if some heifers are retained. Nondairy male registration also increased by eight per cent, indicating that we are likely to see an eventual upturn in male cattle slaughterings. Dairybred female registrations were up five per cent on the year and representing a significant turnaround from the early part of last year dairy bred male registrations were 17 per cent up on the year. The firm beef prices and some easing in feed costs may have encouraged producers to retain these animals for finishing. New season SQQ lambs Inside this week Increased calf registrations Latest retail price spreads March (Continued on page 5)

2 Cattle market trends p per kg dw GB 4L deadweight steer price Source: AHDB / EBLEX Estimated GB prime cattle slaughterings % / per 100 kg dw Source: AHDB / EBLEX J J A S O N D J F M A M per cent EU deadweight cattle prices /12 Germany (YB) France (YB) Italy (YB) Ireland (Steers) GB (Steers) Source: EU Commission Beef farm to retail price spread Source: EBLEX /AHDB s In week ended 9 June, as the Jubilee holiday disrupted trade to some extent, the overall prime cattle deadweight average price strengthened to 334.2p per kg. eports suggest that the supply and demand position is still finely balanced and a small increase in demand could result in some further upward pressure on prices. The price of 4L steers and heifers both increased by a penny on the week to average 342.6p and 341.2p per kg respectively. The price of 3 young bulls increased by a similar amount on the week to 328.0p per kg. Following last week s three pence increase, the average deadweight price of cows strengthened a further two pence on the week to reach a year peak of 269.0p per kg. In week ended 13 June the average prime cattle price at GB auction markets eased a little over half a penny on the week to average 190.2p per kg. The average price of steers and heifers both declined by almost a penny to 191.4p and 194.6p per kg respectively, while the price of young bulls increased marginally to 183.9p per kg. etail price spreads During the average farmgate price declined over one per cent compared to the month earlier while the average retail price was little d. As a result the actual price spread between the producer and the retailer narrowed slightly on the month and producers received, on average 54 per cent of the final retail price during. With farmgate prices increasing to a greater extent than retail prices during the past 12 months the latest figure is two percentage points more than in. Despite the average beef price being little d on the month some cuts were dearer, with the exception of topside joints and sirloin steak. The largest increase in price was recorded by premium mince, increasing four per cent on the month. Other cuts increased in price by between one and two per cent. In, all cuts of beef were more expensive than in the corresponding month a year earlier. Standard and premium mince both increased in price by 16 per cent, while rump steak was 10 per cent dearer on the year. 2

3 Sheep market trends p per kg dw Deadweight SQQ clean sheep price Source: AHDB / EBLEX Estimated GB clean sheep slaughterings % s eflecting the increased prices at auction markets the deadweight lamb SQQ in week ended 9 June increased seven pence on the week to 407.2p per kg. This uplift was evidently the result of tightened supplies due to the two bank holidays and slaughterings were estimated to be approximately a third lower than in the week earlier. The liveweight lamb trade in week ended 13 June was relatively firm. The SQQ for the week was up almost a penny on the week earlier at 200.4p per kg. Lamb prices on Thursday 7 and Monday 11 June were still showing an upwards trend, however by the end of the period they eased with the SQQ on Tuesday 12 June down almost four pence on the week and on Wednesday 13 June back almost two pence. Despite this decline they still represent a significant uplift from the position in late. However, with the post holiday restocking appearing to be coming to an end the seasonal decline in price is expected to reassert itself. Cull ewe values increased three pounds on the week to average per head. Source: AHDB / EBLEX per 100 kg dw per cent EU sheep reference prices, heavy lambs Spain Source: EU Commission France UK EU ave Source: EU Commission Lamb farm to retail price spread Source: EBLEX / AHDB etail price spreads The much publicised decline in lamb prices during resulted in the monthly average farmgate price falling by over three per cent on the month to 436.5p per kg. At the same time average retail prices increased by almost three per cent. This resulted in the price spread widening with the producer on receiving 55 per cent of the final retail price in compared with over 58 per cent in il. Compared with, farmgate prices have declined sharply while retail prices have continued to edge up. On average producers received 69 per cent of the final retail price in. It should be noted that was an exceptional year for farmgate lamb prices resulting in a considerably higher proportion of the retail price going to the producer. However the latest figure is still lower than that recorded in the corresponding month in recent years. In the majority of lamb cuts recorded an increase in price compared to the month earlier. Lamb legs recorded the largest increase in price, up almost six per cent. Lamb steaks were the only cut to record a decline in price and were back one per cent on the month. 3

4 Pig market trends p per kg dw GB DAPP Source: AHDB / BPEX Estimated GB clean pig slaughterings % /11 per 100 kg dw Source: AHDB / BPEX EU pig reference prices /12 s Finished pig prices continued their seasonal upward trend in week ended 9 June. The DAPP EU Spec has increased by over a penny since the beginning of to average p per kg. This comes despite able weather curtailing barbecue demand. Supplies have been plentiful since the turn of the year, with throughputs comfortably above levels. Carcase weights have also been heavier than in the first few months of last year. For week ending 16 June the average 30kg weaner price eased back by a few pennies for the sixth consecutive week to average per head. This year, high feed costs are again limiting the willingness of finishers to take increased numbers of weaners. The prices of weaners are at their lowest level since early December. DAPP sample increases Following discussion by the BPEX board, the sample of the dead weight average pig price has been expanded to cover a broader spectrum of the pig market. The DAPP will now be produced using information from eight processors covering 15 sites. These are H G Blake, Cheale Meats Ltd, Cranswick Country Foods, F A Gill, Tulip Ltd, Vion, G Wood & Sons and Woodhead Bros. BPEX will be looking to expand the sample of participating abattoirs even further in the coming weeks. 150 etail price spreads 140 The average farmgate pig price in was 149.0p per kg, two per cent higher than in the month 130 previous. Over the month, the average retail price 120 J J A S O N D J F M A M only increased marginally. As a result, the gap between producer and retail prices decreased Denmark Netherlands UK EU ave slightly to 60.5 per cent. This means that Source: EU Commission producers received an average of 39.5 per cent of the retail price which is marginally more than in il but one percentage point less than at the same point last year. Pork farm to retail price spread per cent Although the average price of pork was little d 63 on the month there were some price movements in selected cuts. The largest price increase was for pork 62 fillet, which increased three per cent on the month. 61 Boneless shoulder joints and loin steaks were both 60 two per cent dearer than they were in il. In 59 contrast, diced pork was noticeably cheaper, with the 58 average price more than two per cent lower than in 57 the month previous. Compared with prices in 56 loin chops were less expensive, prices declined 55 four per cent on the year. s for most other cuts were higher than a year earlier with the largest rises Source: BPEX / AHDB for minced pork, boneless shoulder joints and pork fillet increasing to the greatest extent. 4

5 Farm to retail price spreads (p per kg) Mar Mar Beef Ave farm price Ave retail price Actual price spread Per cent price spread Lamb Ave farm price Ave retail price Actual price spread Per cent price spread Pork Ave farm price Ave retail price Actual price spread Per cent price spread Bacon Ave farm price na Ave retail price na Actual price spread na Per cent price spread na Feed prices ( per tonne) Mar Mar Exfarm feed wheat Exfarm feeding barley Source: HGCA (Continued from page 1) Limousin genetics remain the dominant type for nondairy breeds with over 140,000 registrations in the first three months of the year and representing 20 per cent of the total. The next most popular breeds were Aberdeen Angus and Charolais, making up 11 and nine per cent of registrations respectively. Of native beef breeds, Aberdeen Angus remained by far the dominant breed with almost 75,000 registrations in the first quarter of the year. The sustained increase in registrations since October means that a total of 75,000 more calves have been registered than in the equlivalent six month period in 2010/11. The increased dairy male numbers reflect the extent to which lower feed prices last autumn may have affected the viability of young bull beef production. 5

6 Auction market prices Week ended: (p per kg lw) England and Wales Numbers Pence Scotland Numbers Pence Steers Light ( kg) Medium ( kg) Heavy (over 650 kg) All steers 1, Heifers Light ( kg) Medium ( kg) 1, Heavy (over 590 kg) All Heifers 2, Young bulls Light ( kg) nc Medium ( kg) Heavy (over 650 kg) All young bulls 2, All prime cattle 5, Cull cows Grade Grade Grade Grade Dairy sired (ungraded) Beef sired (ungraded) 1, , New season lambs Light ( kg) Standard ( kg) Medium ( kg) Heavy ( kg) Others (over 52.0 kg) Standard Quality Quotation (SQQ) 3, , , , , , , , Old season lambs Light ( kg) Standard ( kg) , Medium ( kg) Heavy ( kg) Others (over 52.0 kg) Standard Quality Quotation (SQQ) 1, , , , Total ewes ( per head) 25, , Pigs All Pigs Porkers (6075 kg) Cutters (5685 kg) Baconers (86104 kg) Others (over 104 kg) , Cull Sows s collected by AHDB Market Intelligence from auction markets 6

7 Store cattle prices earing calf prices Week ended: ( /head) Number sold Average price Week ended: ( /head) Number sold Average price Continental cross: Yearling steer Fresian/Holstein bulls Yearling heifer Hereford cross bulls month old steer Hereford cross heifers month old heifer Continental cross bulls year old steer 316 1, Continental cross heifers year old heifer s collected by AHDB Market Intelligence from auction markets Deadweight sheep prices Week ended: (final) prices based on MLC Standard Dressed Carcase (p per kg dw) New Season Lambs New Season Lambs Weight range 12 16kg 2 3L 3H Weight range kg 2 3L 3H U U O O New Season Lambs SQQ ( ) s collected by AHDB from a sample of abattoirs GB slaughterings AHDB estimates ( 000 head) Week ended Jan/ Jan/ % on year Steers Heifers Young bulls Steers/heifers/young bulls Cows and adult bulls na Calves na Ewes and rams na Other sheep and lambs Sows 5 na na 23.3 na 86.3 na Clean pigs Source: Defra /AHDB 7

8 Deadweight cattle prices Week ended: (p per kg dw) All steers Average all steers Total numbers U O Southern ,116 U O England and Wales Central ,363 U O Northern ,150 U O Scotland ,471 All heifers Average all heifers Total numbers U O U O , U O , U O ,978 All young bulls U O Average all young Bulls Total numbers U O U O U O All cows Average all cows Total numbers U O U O U O U O Great Britain All steers All heifers All young bulls All cows Total numbers 11,100 5,420 2,431 2,162 Average price Pence on week % on month % on year England and Wales All steers All heifers All young bulls All cows 7,629 3,442 1,520 1, s collected by AHDB Market Intelligence from sample of abattoirs. All price quoted on the basis of UK spec 8

9 Deadweight Pig s Week ended: 09/06/ (p per kg dw) GB DAPP (EU) (a) GB DAPP (UK) (b) Pence % on month % on year Deadweight sow price n/a n/a Average weight (kg) of GB clean pigs in sample: All sample pigs on EU dressed basis All sample pigs on UK dressed basis Average probe (P2) of GB clean pigs in Number of clean pigs in sample in GB 97,255 p per kg dw Pence Northern Ireland Average Pig s by method and weight range EU spec up to 59.9kg kg kg kg 90.0kg and over All pigs Method 1 and Method 2 England & Wales Pence Great Britain Pence GB prices by weight and lean meat percentage EU spec Estimated Lean Meat Percentage 60 and over All pigs UK prices by EC grades EU spec Method 1 and Method kg kg kg Over 90 kg Grade S s collected by AHDB from a sample of abattoirs. Weaner spot prices (30 kg) Grade E Grade U Grade Grade O Grade P Week ended: 16/06/ ( per head) GB Weighted Average % on month % on year na = not available, nc = no comparison Data collected by AHDB Market Intelligence from a sample of marketing groups. 9

10 etail prices Week ended: England and Wales Scotland ange Average Pence ange Average Pence Beef (p per kg) (p per kg) Topside 5491,299 1, Topside 9971,390 1, Sirloin Steak 1,4002,598 1, Sirloin Steak 1,4003,299 2, ump Steak 8801,790 1, ump Steak 1,1111,950 1, Fillet Steak 2,2005,000 3, Fillet Steak 2,5594,600 3, Diced Stewing Steak 4401, Diced Stewing Steak 6091,399 1, Braising Steak 6591, Braising Steak 7001,399 1, Premium Mince Premium Mince 5491, Standard Mince Standard Mince s collected by AHDB from a sample of retailers Week ended: England and Wales Scotland ange Average Pence ange Average Pence Lamb (p per kg) (p per kg) Domestic Whole Leg 5491, Whole Leg 5491,599 1, Fillet End Leg 5491, Fillet End Leg 5492,290 1, Shoulder (Bonein) Shoulder (Bonein) Shoulder (Boneless) 6561, Shoulder (Boneless) 8491,590 1, Lamb Steaks 1,0002,248 1, Lamb Steaks 1,3002,450 1, Loin Chops 9901,984 1, Loin Chops 1,2001,777 1, Double Loin Chops 9901,984 1, Double Loin Chops 1,4001,777 1, Cutlet chops 8801,984 1, Cutlet chops 1,2002,290 1, Diced Lamb 5501,687 1, Diced Lamb 1,0991,550 1, Minced Lamb 5501, Minced Lamb 6601,550 1, Imported Cutlet Chops 9991,499 1, Cutlet Chops 1,4991,499 1, Fillet End Leg 5491, Fillet End Leg 5491, Loin Chops 7991,549 1, Loin Chops 1,5491,549 1, Shoulder (Bonein) Shoulder (Bonein) s collected by AHDB from a sample of retailers Week ended: England and Wales Scotland ange Average Pence ange Average Pence Pork (p per kg) (p per kg) Leg (Boneless) Leg (Boneless) 4001, Fillet End Leg Fillet End Leg 5001, Shoulder (Boneless) Shoulder (Boneless) 4501, Fillet of pork 4991, Fillet of pork 7001,799 1, Loin Steaks Loin Steaks 7991,399 1, Loin Chops Loin Chops 3001, Diced Pork Diced Pork 4501, Minced Pork Minced Pork 5081, Sausages Pork (Traditional) Pork (Traditional) s collected by AHDB from a sample of retailers ed Meat MI AHDB, Stoneleigh Park, Kenilworth, Warwickshire CV8 2TL tel: fax: redmeatmi@ahdb.org.uk ISSN Agriculture and Horticulture Development Board. All rights reserved. While the Agriculture and Horticulture Development Board, operating through its EBLEX/BPEX divisions, seeks to ensure that the information contained within this document is accurate at the time of printing, no warranty is given in respect thereof and, to the maximum extent permitted by law, the Agriculture and Horticulture Development Board accepts no liability for loss, damage or injury howsoever caused (including that caused by negligence) or suffered directly or indirectly in relation to information 10 and opinions contained in or omitted from this document.