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Beef price trends
Again more schedule rises as beef slaughter capacity increases and procurement pressure builds in a market desperate for product.
Saleyard prime cattle are now selling for well over $3/kg lwt and store prices have lifted significantly to unprecedented levels for all weight ranges.
Feed conditions will determine future pricing for younger animals over the dry summer in NZ but the depletion of herd numbers in both the US and Australia should ensure years of strong pricing.
Although at these levels some consumer resistance could occur, with cheap chicken and pork in the US an economic alternative.
Prices reached a peak in the Canterbury saleyards, with the Show week competition for quality prime steers breaking records in all classes.
Cattle farmers in the south are being warned to keep a watch out for theileria infection in their animals as an outbreak has been diagnosed on the West Coast.
Dairy beef weaner prices in the north lifted further as the beef boom crosses to stores and $4-$5/kg lwt has become the new norm for 100kg quality bull calves.
Ravensdown announced a rebate of $37/tonne as the company gets back to basics after the sale of it’s Australian interests, that has allowed a reduction in debt and upgrading of plant.
For weekly P2 Steer schedules for NZ, NI and SI CLICK HERE
The Export Trend this week is rising for Bull (529) and firming for Prime grades (544c). These values are now 111cents / kg ahead for Steers and 129c for Bulls compared to the same stage last year and are returnimg an extra $330/head for a finished steer and over $400 for a prime bull. These will be big profits for breeders that finish but traders will find replacing these animals will come at a bigger cost.
CLICK HERE for Charts of saleyard prime steers.
The exchange rate has eased to around 78c against the US$ as the volatile currency eases now to 5c behind last year and giving more heat to beef schedules.
Local trade schedule prices are rising at 530-595c/kg lead by the north and ahead of export schedules.
for more trend graphs, see
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