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Beef price trends
Strong demand in the US is fueling the continuing rise in beef prices, as NZ bull beef has reached the $3/lb mark for the first time and shows little signs of stopping.
Schedules lifted in both islands although processing volumes are low at this time of year and these levels are just optimistic predictors for most farmers.
Northern local trade prices are still rising as are values at saleyards as strong early feed conditions and low stocking levels are fueling the store market.
The latest drop in the value of the NZ dollar is helping stimulate these returns but more steady falls are needed to reach the 78cUS target in Beef and Lamb NZ’s forecast predictions.
The beef market continues to run hot with prime steers in the saleyards in the north receiving 280-290c/kg lwt at last weeks sales.
Beef and Lamb NZ’s new season report also predicted a strong year with beef, steer and heifer prices predicted to rise by 8.5%.
For weekly P2 Steer schedules for NZ, NI and SI CLICK HERE
The Export Trend this week is rising for Bull (437) and firming for Prime grades (476c). These values are now 21cents / kg ahead for Steers and 33c for Bulls compared to the same stage last year and are as high as they have ever been.
CLICK HERE for Charts of saleyard prime steers.
The exchange rate has eased to around 81c against the US$ as the volatile currency eases but it is still 2c ahead of last year.
Local trade schedule prices are steady at 490-535c/kg lead by the north and ahead of export schedules.
for more trend graphs, see
for more perspectives, see