News > back . With domestic demand looking to remain subdued for the rest of 2020, and higher Irish supplies on the horizon, it is difficult to make a case for support to cattle prices in the next few months. The sunniest spring on record also helped kick off barbecue season early, boosting sales of beef burgers. More information about demand scenarios can be found here. But it’s essential to the beef business. Ground beef demand will be key for supporting beef cull cow prices. Beef increased 4.28 BRL/Kg or 29.76% since the beginning of 2020, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. The return of big fast food chains to the delivery/takeaway market will ease pressure on burger volumes. Minister for Agriculture, Food and the Marine Charlie McConalogue has been asked to meet…. Imports are not expected to recover as strongly as first forecast, and could remain at similar levels to last year. Demand is expected to recover in 2021, based on demand scenario A, and so prices may benefit from that going forwards, coupled with tighter long-term cattle supplies. As beef has the highest share of volume via foodservice, further restrictions for the foodservice market, in Scenarios B and C, would be detrimental for the beef sector. Click below to access the pdf. UK imports in 2020 are also expected to adjust to be slightly lower than 2019 for the same reason. Retail volumes will remain elevated in to H2 2020 in all scenarios, continuing the trend seen under lockdown. Here you'll find more detail on production, trade and demand. Meat Market Update | Export volume jumps higher. Losses for steak also impacted the eating-out market, with overall beef volumes down -3.4% (MCA, YE Dec 2019). The year-on-year performance of burgers struggled compared with a strong summer season in 2018, while volumes of steaks and corned beef also faltered as they lost shoppers. However, beef has proven to be an important staple for consumers during the COVID-19 outbreak, with the greatest volume percentage increase out of all the proteins, at +22% (Kantar, 12 w/e 17 May 2020). The main driver of this was the rise in mince-based meals during lockdown, due to its versatility. August beef imports were 32 percent larger year … Click on the thumbnails below for simple visual explanations as to how the beef and lamb markets have performed, according to the latest data. An uplift is expected in the second half of the year, as it becomes more accessible and meal occasions that might once have taken place in a pub or restaurant transfer to the takeaway market. Bull; Calf; Cow; Heifer; Manufacturing; Steer. Beef imports and exports from 2010 through 2019. 10/13/2020: 11/12/2020: Retail prices for beef, pork, poultry cuts, eggs, and dairy products: 10/13/2020: 11/12/2020: Summary of retail prices and price spreads: 10/13/2020: 11/12/2020: Historical monthly price spread data for beef, pork, broilers: 2/28/2020: 3/1/2021: Meat Price Spreads. Ground beef prices rose 7.2% in May … You can download the gallery infographics in a handy A4 poster. Along with ground beef, Sokol noticed the prices for roasts have soared. The key influencers on GB beef prices in the short term will be domestic demand and Irish supply. In 2020, UK beef production is still expected to fall slightly, due to tighter cattle supplies. But they could be competitively priced. Last updated week ending 11th October 2020. This means that the level of exports needed to balance the market will be higher than previously forecast, however it will ultimately depend on domestic demand. Podcast - subscribe here . Under Scenario B, overall beef volumes would reduce by 8%, while Scenario C would result in a loss of 10%. And while consumers have been using takeaways more, the temporary closure of big burger brands at the start of lockdown resulted in a contraction of the takeaway market for beef during spring. P2; T2; F2; L2; A2; Store; Local Trade; Feed; Trends; Dairy prices; Deer prices; Sheep prices; Log prices (updated) Dairy payout history; Farms for sale ; Soil moisture trends; Resources; Understanding China; Sign up for emails; Home > back . Historically, Beef reached an all time high of 1504.25 in March of 2020. Despite this uplift in retail, foodservice losses will result in an overall decline for beef. Combined with lighter carcase weights, this will reduce beef production for the year by a forecast 4%. Out of AHDB’s meat sectors, beef has the highest share of volume in the eating-out market, at 19% in 2019. Overview; Documentation; Related Topics. 4% fall in UK beef and veal production expected in 2020, Imports are expected to remain at similar levels to 2019, due to a drop in demand, Exports expected to fall by around 2% due to lower production, Cattle prices will be determined by domestic demand and Irish supplies. More information about demand scenarios can be found here. The average retail price for fresh beef in April was $6.22 per pound — 26 cents higher per pound than it was the month before, according to the Bureau of Labor Statistics. Not only will the sector have significant volumes to compensate for within retail, consumers do not directly replicate what they would eat out home, creating issues in balancing the carcase. As a result, the annual forecast for 2020 beef production was raised by 90 million pounds to 27.1 billion pounds. In 2020, UK beef production is still expected to fall slightly, due to tighter cattle supplies. In general, fall 2020 prices are projected slightly higher than last fall as of mid-February, suggesting the beginning of the new beef price cycle. Eating out volumes of beef reduced significantly between March to May, contracting to less than a quarter of what they were in 2019. Jun 04, 2020 . Complete the form to receive our monthly newsletter for the latest analysis and forecasts. Cattle prices will be determined by domestic demand and Irish supplies; Overview. There would also be further implications for the value of the beef sector in both these scenarios, as heightened financial worries will result in shoppers trading down to cheaper products, such as mince, than in Scenario A. However, the fall is not expected to be as steep as previously forecast, due to an anticipated fall in domestic beef consumption caused by COVID-19. © Agriculture and Horticulture Development Board 2020 | All Rights Reserved, Agriculture and Horticulture Development Board, Stoneleigh Park, Kenilworth, Warwickshire, CV8 2TL. In Scenario A, the eating out market will contract by half, as many consumers are not comfortable returning to bars/restaurants. Jun 10, 2020 . Beef prices. The challenge for beef comes from its heavy presence in the eating out market, with burgers and steaks popular choices when dining out. Both the dairy and suckler herds have continued to shrink in 2020, a trend which is expected to continue for the rest of the year. Prior to the COVID-19 outbreak, total retail volumes of beef were tracking behind the previous year, down -1.1% (Kantar, 52 w/e 23rd Feb 2020). Imports are not expected to recover as strongly as first forecast, and could remain at similar levels to last year. "It's $6.59 for 80/20 ground beef." Encourage shoppers to purchase cuts that will help with carcase balance issues, particularly those with higher price points, by utilising an effective price and promotional strategy, Inspire stews/casseroles as we enter Autumn/Winter 2020, playing on affordability and health messaging as concerns about COVID-19, as well as the usual winter illnesses, lead to heightened interest in health, Address health concerns by communicating the health benefits of beef, In the longer term look to maintain and build consumer trust, demonstrating where farming values (animal welfare, environmental stewardship and expertise) are shared with consumers. Here we look at GB and international prices, consumption, slaughterings and trade figures. UK beef exports for 2020 are forecast to be lower than 2019 because of longer-term production declines. Latest Beef Factory Prices. €3.83 Per KG. A lower requirement for replacements has allowed heifer slaughter to remain above 2019 so far. However, lower steer slaughter has meant that in the year to May, prime slaughter is down slightly on 2019. Weekly finished auction markets by region, Pig performance trends and COP sensitivity for feed and performance. Visit the retail and consumer page for more insight. Beef production in 2021 was raised slightly on higher expected fed cattle marketings. International trade has become a contentious issue recently. Inspire consumers to replicate food service experiences at home, as demonstrated in AHDB’s beef steak night campaign. Beef/Cattle: The forecast for second-half 2020 beef production was raised from last month on higher expected fed cattle and cow slaughter. This forecast assumes current access to European markets in 2020 and beyond. Five-hundred-fifty-pound steer calves in fall 2020 are projected $7 higher than in fall 2019. The previously declining trend for steaks also reversed. With almost a fifth of beef volumes going via this market, beef will be hit hard by this. But they could be competitively priced. Slaughter in 2020 is expected to be slightly lower than 2019, due to fewer prime cattle on the ground. Under Scenario A, overall beef volumes will reduce by 4%.