Beef & Sheep Markets

Subdued is the best word to describe the current beef and sheep markets.  At a time of year when prices are usually helped by a seasonal increase in purchases, reports from the beef market reveal poor demand, but with markets finely balanced due to tight supplies.  Consumers appear to be being put-off by higher prices.  Latest data from market analysts Kantar Worldpanel reveal household volume purchases for the four weeks to 10^th November were 10% less than for the same period last year.

It is a similar story for the sheep market.  Slow demand is seeing little seasonal uplift, although prices are still ahead of the poor trade seen last Christmas.  Economic problems in continental Europe and a stronger Pound are still affecting the export trade.  But unlike beef, lamb purchases are 1% higher for the four weeks to 10^th November according to the latest Kantar Worldpanel data.  Sales of mince continue to be the main driver behind increased purchases, with more expensive cuts less popular; leg and shoulder joints were 4% behind year earlier levels.