Prime lamb and beef average deadweight prices reached new record highs during 2024.
The prime lamb average reached a new historical high when crossing the £8/kilo mark in the spring, and beef achieved a similar status when passing the £5/kilo mark in mid-September. Both made substantial gains over the course of the year.
In a headline review of 2024, Hybu Cig Cymru-Meat Promotion Wales’ (HCC) Market Bulletin also reflects on throughput levels and records that sheep meat production experienced a decline due to lower lamb throughput compared to beef production, which enjoyed strong growth in 2024.
“The decline in lamb numbers will likely produce impacts which may constrain supply in 2025 and beyond,” said Glesni Phillips, HCC’s Intelligence, Analysis & Business Insight Executive. “Meanwhile, future beef supply is estimated to tighten and could lead to stronger farmgate prices.”
January’s Market Bulletin reports that GB prime lamb average deadweight prices started the year at £6.16/kg and closed the year at an average of £6.91/kg – an increase of 75p/kg from start to finish.
“The average price reached a low of £6.06/kg in January but then reached a high of £8.93/kg at the end of May as New Season Lambs came onto the market,” said Glesni. “The difference between the lowest and the highest price was £2.88/kg, whilst the average did not fall below year-earlier levels at all during 2024.
Abattoirs across the UK processed 12.85 million sheep and lambs in 2024, an eight per cent – 1.1 million head – drop year-on-year, and nine per cent below the 2019–2023 average of 14.1 million head, according to data from Defra.
“This marks the lowest sheep slaughter level in years and is likely one of the factors behind the strong deadweight prices experienced during 2024,” said Glesni. Sheep meat production fell by seven per cent to 266,000 tonnes as a result, some nine per cent below the five-year average.
The total throughput of lambs at UK abattoirs during 2024 dropped by 876,600 head to 11.4 million head.
“Industry reports suggest the lamb rearing percentage was lower in 2024, reflecting losses from adverse weather and increased disease during lambing, such as the Schmallenberg virus.
“Prime cattle deadweight prices did well in 2024 too,” she continued, “particularly in the second half of the year. The steer average started the year at £4.87/kg and closed the year at an average of £5.51/kg – an increase of 64p/kg from start to finish. The cull cow average deadweight price started 2024 at £3.14/kg and ended at £3.70/kg – an increase of 56p/kg from start to finish.”
Defra reported that 2.85 million cattle were processed at UK abattoirs in 2024 – a three per cent increase – 83,800 head – compared to 2023, and two per cent above the 2019–23 average of 2.85 million head. This marks the highest annual throughput in recent years, resembling 2011’s 2.84 million head. Consequently, beef and veal production reached 933,800 tonnes, up four per cent year-on-year and two per cent above the five-year average. Deadweight averages were strong throughout 2024, despite the higher throughput level, which suggests that demand for beef was robust during the year.
“Looking to 2025; the potential supply of cattle in GB may tighten somewhat, though the current strong deadweight prices may encourage more to market. Beyond 2025, the decline in the younger cattle age category (as discussed in December’s Market Bulletin) does suggest there may be fewer slaughter-ready animals becoming available in 2026 and beyond,” assessed Glesni.
January’s Market Bulletin can be found on the HCC website: https://meatpromotion.wales/en/market-intelligence/market-bulletin/
