Beef prices hit all time high.

The Farmer's Weekly report that beef prices have broken through the 300p/kg barrier for the first time ever.

The deadweight steer price for Great Britain stood at 302.5p/kg, 26p or 9% ahead of the same time last year.

 Nick Allen, sector Director for EBLEX, said “For producers, it is encouraging to see the beef price break through the 300p/kg barrier. It’s an inevitable consequence of shortened supply and rising costs of production. It will bring beef farmers closer to a sustainable price because most have been losing money on every beast for some considerable time."

“We believe this trend will continue. Prices for all meat proteins will rise as they are driven by rising costs, particularly in terms of cereal prices, and a global shortening of supply.”

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