Supplies of finished cattle look set to remain reasonably tight through the remainder of 2022, according to forecasts produced by the Livestock and Meat Commission (LMC).

Based on APHIS data, the LMC report shows a 2.7% drop in the number of beef cattle between 24 and 30 months of age on farm at the start of September when compared to the previous year.

This translates to 3,162 fewer animals within the outlined age bracket.

However, that is partially offset by an additional 2,698 beef cattle on farm aged between 18 and 24 months.

Moving to younger cattle that will come froward from next spring, there does appear to be a downturn in supplies, with 4,456 fewer animals currently on farm between 12 and 18 months of age.

Outlook

With cattle supplies finely balanced, the outlook for prices will ultimately depend on processing demand.

Indications are that the 2022 Fifa World Cup will provide a short-term lift in sales of manufacturing beef within Britain, and that could underpin the market towards the end of the year.

This week, cattle prices are steady with quotes of 426p/kg for U-3 animals. Steers are generally moving at 436p to 438p/kg, with heifers making 438p to 442p/kg.

Sheep trade

However, sheep prices are hardening, with farmers finding it easier to secure 500p/kg this week, and reports of 505p/kg being paid for meal-finished lambs.

The mart trade has seen an upturn in buying demand from agents working for Irish plants, as factory prices south of the border harden at €6.30 to €6.40/kg, which converts to 508p to 516p/kg.

Prices are also rising in Britain, with slaughter-fit lambs making 540p/kg.

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