AHDB reports: During May and June, the share of beef and lamb retail price received by producers continued to rise both compared with previous months and a year earlier.
The beef producer share of the retail price has continued to grow during May and June as well. The producer share is now above the levels recorded at the start of 2017. It now stands at 52% of the average retail price, which is a rise of one percentage point on May and nearly two percentage points on April. T…he producer share during June was five percentage points higher than June 2016. The average farmgate price recorded a rise of 13% compared to a rise of 1% in the average retail price.
Retail beef prices
The latest Kantar Worldpanel data suggests the retail demand is looking more promising with household purchases on the domestic market holding up. Beef production forecasts for the rest of the year continue to suggest a drop in production on last year. This in turn may continue to support farmgate prices moving forwards.