Iain Macdonald, Market Intelligence Manager at Quality Meat Scotland (QMS), said: “The significant rise in prime cattle prices reflects intense competition among processors, as they compete for cattle while the weekly slaughter rate begins to trend upwards. This is coupled with a general uplift in UK beef production during the first eight months of the year compared to 2023. Kantar data has shown a 6% increase in household spending on beef in Great Britain year-to-date in 2024. This has occurred despite an expected seasonal rise in the availability of cows for slaughter, which typically pressures prices downward. Iain commented: “Despite the rise in prime cattle numbers, adjusting the slaughter data for cross-border trade suggests that fewer animals from this year's herd have been processed than anticipated.