New Zealand: Venison returns buck up deer outlook

The venison market rounded out 2023 in a rather subdued fashion, but still majorly improved on previous years. Despite this, deer numbers are forecast to drop. Logistic issues through the pandemic limited supply available to global markets, and a change of consumer tastes to more accessible proteins dropped demand and hurt pricing. Venison farmers reconsidered their farming practices and some shied away from deer. Farm sales to forestry and rules and regulations also contributed. Last year, there were at least 20,000 fewer breeding hinds on farms, coming after a similar drop in supply the year prior. But, for those that have stuck it out, venison has shown resilience and has emerged from the pandemic in better shape than alternative red meats. Relative to lamb, slaughter pricing is almost $3/kg better. Most processors are paying around $8.70/kgCW, excluding premiums. Prices are currently stable and, all things being equal, the expectation is that 2024’s pricing will track ...