Beef - UK deadweight cattle prices are continuing to rise and stand 33p above the price recorded in the same week in May last year and 80p up on the five year average. Cattle pricing is also on the rise across the world, with the increase of energy and labour costings as well as the conflict between Russia and Ukraine. Pricing for beef trim remains very high, and is expected to continue to rise – with the busy BBQ season, we can expect to see high cost and supply struggles to continue and worsen until at least September. Premium steak cuts are continuing to rise with beef fillets at the worst. Rib-eyes are expected to remain firm.
Lamb - A challenging market which is expected to continue due to a deal between the USA and Ireland, which allows the export of Irish lamb and sheep into the US market, causing more strain on the UK market.
Pork – With rising energy, fuel and feed costs it is causing difficulty for pig producers across the country. As these prices have risen, pig pricing has not which has led to a loss situation for producers. Reduction in stock across the UK could lead to short or long term supply issues across the UK pork market.
Poultry – The Avian Flu outbreak has caused supply issues for duck legs and breast and has also had an impact on corn-fed chickens. The conflict between Russia and Ukraine has seen prices rise by over 50%. Less chicken is entering the EU due to suppliers choosing to keep their stock to feed the refugees rather than exporting.
Unfortunately the world and the market place we are currently living in has continued to face unprecedented challenges. It seems unlikely that the market will ease in the foreseeable future however, we remain positive.
Source: Campbell Brothers Meat Market Report.