Despite the increased potential for red meat exports to the States and Chile, back on home turf, prime beef and lamb values are very much on the slide.

Latest prices for the week ending July 30, show the GB All steer and All heifer averages both sitting at 439p, with the highest prices within the various regions achieved in Scotland, at 447.1p and 450.0p, respectively. However, most of the deadweight centres dropped their base prices again at the start of this week.

Average young bull prices improved by 0.4p in Scotland for the same week, to level at 436p, but again, many processors have reduced deadweight values this week.

Cow prices have also come down in recent weeks, with Scottish average of 382p for the final week of July – down 3.5p on the week.

The real worry is that while supplies of clean cattle remain finely balanced week on week, cow numbers over the past week have seen a massive increase in slaughterings with some regions seeing a 21.3% increase, with the total GB figure up 11%.

Lamb prices have come crashing down too on the back of increased numbers coming forward. With an SQQ of 574.5p – down a colossal 48p per deadweight kg on the week for a 13.2% increase in numbers – lambs are fast approaching the same price as this time last year.