August 13, 2014
UK beef supplies expected to tighten in 2015
Eblex forecasts that beef and veal supplies will tighten for the second half of the year into 2015, bringing firmer prices to UK producers.
With prices currently depressed due to high domestic supplies and large import volumes from Ireland, this expected tightening could bring firmer ex-farm prices, according to experts.
AHDB/Eblex senior analyst Debbie Butcher said: "Unless consumer demand picks up markedly, any significant upward pressure on price over the summer months looks unlikely.
"However, the forecasts for availability later this year and into 2015 offer a more positive picture. With lower production, increased exports and lower imports, UK market supplies next year are forecast to reduce, so the possibility of firmer prices is improved."
UK production is currently 2% ahead of 2013, and Ms Butcher said higher carcase weights had compounded the higher production numbers.
Overall 2014 beef exports are expected to be behind 2013 levels but Eblex claimed demand for manufacturing beef could support growth in 2015.