Keep up to date with the latest national market prices, which are shown below.

For prices local to the South West and Somerset, please see the latest  reports from Sedgemoor Auction Centre.

National Market Prices

Published 11 December 2011

This Report covers the fortnight preceding its date.

Report Archive:

Potatoes

The GB weekly average price has decreased by £8.75/t to £108.97/t and the free-market average by £5.30/t to £88.01/t. A higher proportion of free-buy in relation to contracts made up this sample compared with last week.

Buyers in the packing market continued to be very selective last week, although best whites were on the light side as many growers were reluctant to load at current prices. There were ample lesser quality supplies available with movement dependent on the sample. Salads: 45mm down M Peer and Charlotte were mainly £300/t. Reds: Volumes have eased back but demand for quality samples improved. Grade 1 included Desiree at £100-£140/t, up to £150/t for exceptional samples and some Mozart moved at £130-£140/t. General pack Desiree samples were £80-£100/t. K Edwards: Grade 1 was from £100-£130/t depending on the sample. General pack was £90-£100/t, and value pack from £60/t.

M Piper: Grade 1 samples were from £110/t, mainly £125-£150/t.
 

Wheat

The latest US Department of Agriculture report, for January, led to raised eyebrows in the grain trade, with global maize output now estimated slightly higher – up 0.5 million tonnes – than in USDA’s December report, at 868 million tonnes
(827m t 2010-11). 

Demand is also seen slightly lower (down 0.6m t to 868m t), giving the net effect of a 1m t increase in end-season stocks to 128m t. This would be unchanged from the end of the 2010-11 season but would equate to just 14.7% of global demand.

Argentine maize production is reported 3m t lower than last month at 26m t (22.5m t 2010-11) following recent dry, hot weather conditions there (see report below right), with exports now seen 1.5m t lower as a result, at 18.5m t.

The global wheat supply and demand balance took another turn to the bearish side after the USDA further increased global 2011-12 ending stocks by 1.5m t to 210m t (199.94m t 2010-11).

Beef

In the week ended 7th January deadweight cattle prices eased slightly as trade returned to a more normal pattern after the holiday period. The DW prime cattle average price fell by 2p on the week to 332.6p/kg. Steers and heifers averaged 344.0p and 333.8p/kg respectively, both down 2p week-on-week. The young bull price fell by a similar amount to 312.8p/kg.

The finished cattle trade at GB auction markets also eased in week ended 11th January. Steers were 4p cheaper on the week at 182.6p/kg, while the price of heifers and young bulls was back 3p to average 187.1p and 177.0p/kg respectively. In contrast the liveweight cull cow trade firmed, and although the euro weakened against sterling, domestic demand from the major retailers remained strong. The overall liveweight cull cow average price increased by 3p to 117.8p/kg. Firm demand for the highest quality cows prevailed, resulting in a penny increase in the average price of grade 1 cows to 144.8p/kg.

Pigs

Following a period of stability in the run-up to Christmas, deadweight pig prices fell sharply in the first week in the New Year. The Euro-spec DAPP was 145.7p/kg in the week ended 7th January, down 2p on the week, but still more than 8p/kg higher than at the same time last year.

A number of factors have driven the price lower. Consumer demand has been weak after Christmas, while some unsold stocks have further reduced demand. With weak consumer demand on the Continent, pig prices in most EU Member States have fallen dramatically. The strengthening of the pound against the euro has further reduced the price of imported pig meat. The price premium for UK pigs when compared with the EU average price expanded from about 6p/kg in early December to nearly 14p/kg at the turn of the year. Weaner prices continue the recent trend of a slow upward movement. The average 30kg weaner price added about 60p to reach £45.17 for week ending
14th January, nearly £4 higher than in January 2011. Despite the latest fall in DW prices, there is still optimism that prices will rise as usual in the spring.

Lamb

With the liveweight trade continuing to rise and numbers tightening further, the deadweight lamb SQQ increased 8p on the week to average 437.1p/kg. The liveweight lamb trade in week ended 7th December strengthened further as demand remained strong in relation to supplies. Prices were buoyed by Christmas shows and sales. Overall the average was 11p up on the week at 209.5p/kg. Daily national averages were consistently over the 200p/kg mark, as were the weekly averages for all regions of GB, with the highest prices recorded an average of 213p/kg at livestock markets in the Midlands region.

The average farmgate price in November was 23p higher month-on-month at 416.4p/kg. Average retail prices were higher, but not to the same extent. The price spread between the producer and retail price narrowed further and producers received 54% of the final retail price in November.

Milk

World markets show butter returns continuing to fall as available global supply increases. With lower WMP exports to China, New Zealand has more milk available for butter production, and the difference between EU and world prices is now great enough to allow exports from NZ, inclusive of the EU import tariff of €700/t. Powder markets have remained fairly stable.

The spectre of NZ butter imports into the EU might explain why private storage aid stocks were eroded further in December, falling 27% on November to 35,000t. EU powder prices remained stable, helped on world markets by a weakening euro.

UK markets went through the usual fluctuations in the run-up to Christmas, although prices generally reflected what has been happening elsewhere. Market commentators suggested that the expected increases in EU butter imports had already been taken into account for the New Year, with butter prices falling by £150/t (4.8%) between November and December to £3,000/t. SMP fell slightly compared with November, from £2,150 to £2,100/t. Cheddar markets remained unchanged.