Members Update 15 May 2026

QMS Market Update – Beef Sector
Clay Pigeon Shooting – 26^th August
Newsletter Story

 

Members Update 15^th May 2026

QMS Market Update – Beef Sector

Please find attached our latest market update for the beef sector. A summary of the key points is below:

QMS Beef Market Update Q2 2026

Beef Market

• Prime cattle prices softened significantly after Easter as slaughter numbers rebounded, particularly south of the border, where the deadweight-reported prime kill posted its two largest weeks of the year. However, prices are still 20% above the five-year average.
• Relatively stronger prime cattle availability on farm in Scotland coupled with softer processing demand may have placed additional pressure on prices in Scotland.
• Store prices have dipped seasonally but values remain historically firm, signalling a squeeze on finishing margins.
• Cow prices also fell sharply after Easter, but remained elevated relative to prime cattle, likely reflecting the impact of consumer price inflation on the composition of demand.
• In Scotland, prime cattle slaughter has continued to show significant year-on-year declines due to a low slaughter rate and an increased net outflow of cattle. However, around half of the decline in throughput has been offset by increased weights.
• Heavier weights (+3%) may have offset some of the squeeze on finishing margins from higher store purchase costs, depending on how much it cost to add this weight.
• While consumer spend on beef continues to grow strongly (+10%), higher consumer prices are pressuring the volume and composition of demand in the domestic market.
• The energy shock of spring 2026 may also be contributing to softer demand, with elevated fuel prices and expectations of higher energy costs later this year potentially affecting willingness to spend. Slowing wage and job growth may also be at play.
• Lower domestic demand continued to support export activity at the start of 2026, while penetration of competitively priced beef from non-EU countries held at around 30% of overall imports, more than offsetting lower volumes arriving from the EU.
• Overall UK market supply edged lower in Q1 2026 as slightly higher domestic production and imports were more than offset by increased export volumes.
• After rising 30% in 2025, EU beef prices climbed further at the start of 2026. However, they have fallen back in the spring, signalling some impact on the volume of demand from elevated consumer prices similar to what has happened in the UK.  If UK import and export prices have fallen through the spring, this could also help explain a general drift lower in domestic market prices.

 

Economic Development

• In 2024 and 2025, geopolitical challenges had surprisingly limited impact on energy prices, but the US-Iran conflict has reduced global oil and gas supplies, pushing up energy, fuel and fertiliser prices, which will filter out across the economy as markets adjust, affecting businesses production costs and household finances. Some by-products, such as fats, may receive a boost from higher oil prices.
• Generally positive global crop prospects have ensured that grain and oilseeds prices remain relatively soft compared to recent years. However, there has been some upwards pressure in spring 2026 from concerns around drought in the US while increased biofuels demand has added to the upwards pressure from the demand-side.
• A soft year for sterling against the euro has boosted UK competitiveness in beef trade with the EU. By contrast, the pound has had stronger years against US and NZ dollars, adding to the downwards pressure on import prices for non-EU beef but providing some slight offsetting pressure to higher input costs.
• Spending on red meat continued to grow significantly into the spring, although increased consumer prices resulted in reduced sales volumes, mainly driven by the higher cost of beef. Poultry appears to have benefited most from substitution, but some cuts of lamb and pork may have received a boost due to elevated beef prices.
• A mixed economic picture remains, but with stronger downside risks. Sluggish private sector activity continued and retail sales rose significantly at the start of the year but the labour market is softening, and this may begin to impact household spending power as inflation rebounds in the coming months. Consumer and business confidence has fallen due to the conflict in the Middle East with concerns around the inflationary impact.
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Clay Pigeon Shooting – 26^th August

9:15am Arrival, bacon or link sausage rolls for breakfast, tea & coffees

10:00am Meet Instructors and separated into groups

               Begin 25 bird practice

11:00am Begin 25 bird competition

12:30pm Back to the club house for beef / chicken burgers for lunch

 

£90pp for 50 clays, cartridges, instruction, breakfast & lunch and prizes.

 

Bisley at Braidwood, Braidwood, Midlem, Selkirk, TD7 4QD

Please book your places by email [email protected] or Tel: 01738 637472

 

Newsletter Story

 

We’re always keen to share the stories behind our members’ businesses, and we’d love to hear from you. If you have an interesting experience, recent success, unique challenge, or anything newsworthy that’s happened in your business, please do get in touch. Whether it’s a short story or a more detailed article, your contribution could be featured and shared with others. While we may not be able to publish every submission, it would be great to hear from you.

 

 

  If you have any questions, please contact:

 

MEMBER SERVICES – Bruce McCall:                           [email protected]                01738 637472

CRAFT SKILLS SCOTLAND – Claire Simpson:             [email protected]                          01738 637785