During W49, the trading of lambs has dropped to minimum levels locally in New Zealand, which is reflective of the cautious approach traders are taking. Good feed levels have created a situation where farmers can hold onto their lambs instead of trading them. Since prices are below par, many farmers decided to hold off selling in the lead-up to Christmas for better farmgate values/prices. The average local slaughter and export price trends for W49: W49 prices - W48 prices Steer NI P2, 300kg - USD 3.93/kg - USD 4.00/kg -1.6% down, Export Bull, USA - USD 5.06/kg - USD 5.19/kg -2.4% down. Lamb NI, 18kg - USD 5.01/kg - USD 5.23/kg -4.2% down, Export Lamb Flaps, China - USD 6.19/kg - USD 6.34/kg -2.4% down. Prices are forecasted to decrease as volumes increase, and warmer weather with good rainfall arises.
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