Average beef prices for the year-to-date on U3 steers and heifers are at their highest level in five years, according to official price reports from the Livestock and Meat Commission (LMC).
Throughout 2018, the average price for U3 heifers is 366.2p/kg, with U3 steers averaging 363.2p/kg.
Young bulls have averaged 354p/kg. Prices are marginally ahead of the same period in 2017.
It means U3 cattle prices are at their highest point since 2013 – when steers averaged 371.7p/kg, heifers were at 377p/kg and young bulls at 358p/kg.
Back then, beef prices increased significantly in the immediate aftermath of the horsemeat scandal.
Prices returned to a more modest average of 345.4p/kg for U3 heifers and 339.6p/kg for U3 steers the following year.
Autumn
In terms of 2018 prices, U3 steers during April, May and June averaged 368.7p/kg, with heifers on 373p/kg.
This means a 380kg steer killed this autumn is worth £44 less than the equivalent animal killed in late spring.
With significant increases in concentrate prices of £30/t to £40/t this winter when compared with last year, margins will be extremely tight for finishers without an increase in beef price over the coming months.
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