Beef market report: Strength of sterling helps boost market for beef

The continuing balance between supply and demand for beef animals at factories has ensured that prices stay firm, aided by a favourable currency exchange rate, with sterling rising to its strongest level against the euro since 2007.

Against the usual pattern for July, beef prices at factories have gained as much as 5 cents/kg this week across the range for both steers and heifers, while cull cow prices are showing improvements of 5-10 cents/kg.

Intake at the plants last week remained tight, at just over 29,000 head, similar to the previous week, which maintains pressure on processors to source sufficient cattle to meet orders.