Beef Market May 16, 2013 12:00 am Beef prices continue to set new record levels. The prime cattle deadweight price is in the region of 50p per kg more than at the same time last year. Strong demand and tight supplies are the main drivers. Year-on-year weekly slaughterings have been below 2012 levels every week, except for three, since the start of the year. Supplies in the medium term look likely to remain tight as data from BCMS shows GB calf registrations for the first quarter of 2013 are 8% lower compared to last year. On the demand side there is evidence that consumers are switching from ready made meals to buying fresh beef in the wake of the horsemeat scandal. According to data from Kantar Worldpanel, there has been a significant increase in the number of households buying fresh beef. There has also been a marked increase in sales of minced beef with purchases of roasting joints, steaks and stewing beef also up on the year. Products which were implicated in the scandal have seen sales fall. For example, beef burgers saw falls of over 40% on the year according to the data.
