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Lamb price trends
Lamb schedule pricing has started to move again as one company sets the early spring price standard with a 3 week contract offering of $6.70/kg
Old seasons lambs are running out fast amid quiet demand, as the Chinese look to process their big supplies of stocks into winter hot pot meals.
Beef and Lamb NZ predict that numbers of lambs tailed should be similar to last year but animals to be harvested, down, as farmers rebuild hogget numbers depleted in NI areas by dry seasons.
After years of big volumes of cull ewes being harvested, it is now predicted mutton exports will be well back and this should be helpful rekindling demand, as reports out of China suggest prices have peaked.
Beef and Lamb NZ have released their new season prospects to reveal predictions of $103 for lamb and $79 for mutton, but these figures come with a currency rider of a 78c US exchange rate.
The Meat Industry Excellence reform team have urged farmers to continue to push for change within the red meat industry as over capacity and marketing issues have not been addressed and the governments goal of lifting red meat exports seems unrealistic in the present economic climate.
Continued settled lambing weather through most of NZ will enhance lamb survival especially as ewe condition after the winter is reported as good.
Prime hoggets numbers are building at saleyards as lamb shortages prevail as it is yet to early for new seasons lambs to activate the discount for these older animals.
The latest South Island wool sale saw market gains of 2% with Chinese interest driving the rise with crossbred indicators rising but mid micron falling and merino starting at a yearly low
The first of a limited merino offering sold at prices that were back 163c/kg on last year and that was a low for the year, continuing a trend where finer wools are failing to receive the lifts crossbred wools are achieving.
Voting has opened in the Wool levy referendum with strong lobbying from both sides in the debate on this issue.
There has been considerable interest in the Primary Wools/Wool Equities merger, but the anti levy lobbying has stepped up to prevent reintroduction of compulsory funding for wools future.
To view Chart for mid micron, coarse and fine crossbred indicators CLICK HERE
CLICK HERE for currency trends.
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