LMC Report: GB Prices Remain Substantially Higher

UK - Cattle prices in GB remained substantially higher than in NI and ROI throughout the first 10 weeks of 2009.

3 April 2009

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Europe

In GB, prices peaked in mid-January at historically high levels. In Central England for example, U4 steers made 300p/kg in the week ending 17/01/09 with the average GB price 298p/kg. In the same week the NI price for U4 steers was considerably lower at 276p/kg.

Gap in R3 steer prices peaked in early March

When looking at R3 steer prices, the gap between NI and the rest of GB was widest in the first week of March when it was over 14p/kg. Since then the gap has narrowed slightly.

Scottish farmers enjoying the best prices

For the most part Scotland enjoyed higher prices than the other UK regions over the first 10 weeks of the year. The gap between the Scottish and NI R3 steer price peaked in the first week of March at 18p/kg, but over the 10 week period, the average price differential was 12p/kg.

In NI the average steer price is also well behind GB, with an average differential of 10p/kg over the first 10 weeks of the year. Since mid-February this gap has widened, again peaking at 15p/kg in the first week of March. The gap between average steer prices in NI and Scotland also follows this trend. In the first week of March the average price in Scotland was 288p/kg, 21p/kg better than the equivalent price in NI.

Young bull prices better in NI

Since the start of the year NI farmers have received better prices for young bulls. In the first 10 weeks of 2009 the average young bull price in NI has been an average of 2p/kg better than in GB and around 6p/kg better than prices in Scotland. However, as the year has progressed, NI young bull prices have become more competitive and in the week ending 20/03/09 prices here lagged behind those in all other UK regions with the exception of Southern England.