New report sheds light on future of beef farming

A new report conducted by Hybu Cig Cymru – Meat Promotion Wales (HCC) has highlighted the importance of beef supply, as well as demand, when forecasting the future of the sector.

 

Meat Management (UK)

Jul 15, 2021

 

Domestic supplies of beef have been tight during the last 12 months, with the size of the GB herd decreasing for the second consecutive year. Industry figures suggest that this is likely to continue in the short term; the number of cattle under 30 months of age is relatively stable on the year, but has dropped by 1.4% since 2019.

 

In contrast, BCMS figures indicate that cattle aged under 12 months are up 1% since last year. This will inevitably lead to a greater supply in the future. 

 

Whilst supply is a key factor, the in-depth report also sheds light on a number of other complex external factors that could drastically change the outlook in the long-term. These vary from post-Brexit changes in trade patterns and the Covid-19 pandemic to consumer influences and worldwide trends.

 

This work forms part of HCC’s market analysis remit, led by data analyst Glesni Phillips. She said: “Two years ago, there was serious concern within the industry about low farmgate prices. An increased domestic supply and trading patterns put pressure on farmgate prices, combined with subdued consumer confidence and demand due to Brexit.

 

“Since then, some hope was restored with the outcome of the Brexit deal. In addition, the pandemic, combined with successful marketing campaigns, has led to strong sales of beef to consumers across the country and firm farmgate prices for prime and cull cattle...

 

Demand ...

 

more, including link to entire report

https://meatmanagement.com/new-report-sheds-light-on-future-of-beef-farming/