20 October 2010

2 minute read

Europe

According to the UK National Institute of Economic and Social Research (NIESR), GDP growth in the economy grew by 0.5 per cent for the latest 3 month period ending the 5th September. Both beef and pork sales outperformed GDP, expanding by 1.4 per cent and 3.1 per cent to £364 million and £186 million, respectively.

For the four week period ending the 5th September, Kantar figures show that beef and pork sales grew by 4.5 per cent and 6 per cent to £127 million and £63 million, respectively. Pork sales have grown on the back of a surge in demand coupled with a fall in average prices. Demand for pork roasting joints almost doubled, with strong demand also evident for steaks and pork belly. The value of beef sales has been helped by a more than 3 per cent increase in price to £6.26/kg while volumes were more than 1 per cent higher. Most of the increase in beef sales was due to growth in sales of lower value cuts such as stewing and mince cuts.

Lamb sales continue to suffer from consumers switching away from more expensive proteins. Lamb sales fell by 5 per cent for the latest monthly period to £44.1 million. This was despite a 10 per cent increase in average prices to £7.59/kg. Demand for the most lamb cuts fell with leg joints showing a drop of 16 per cent in sales.

TheCattleSite News Desk