Overall, 2024 was a strong year for the UK beef market. The UK produced 934,000 tons of beef and veal through the year, up nearly 4% from 2023. Combined with a 5% uplift in beef imports, this contributed to greater supply on the market, according to a recent market report from AHDB.
Despite this, Great Britain's (GB) finished cattle prices continued to set records in 2024. Consumer demand was robust, with slight growth in retail being met with a relatively stable volume through foodservice. Meanwhile exports increased, supported by demand from the European continent.
Looking to 2025, supply is going to be a crucial determinant of the market. Despite continued reductions in national cow numbers, beef production levels in recent years have been generally supported. Factors including growth in the number of beef cross calves born to the dairy herd, and greater slaughter of heifers and cows, have been key drivers.
Reductions in national production are forecast in 2025 (-5%), however, following historical contraction in the core supply base and strong production levels in 2024, The Beef Site reported.
