New Zealand sheep and cattle prices surge

Published 2021년 8월 19일

Tridge summary

New Zealand and Australia are experiencing record high prices in their livestock markets, with sheep and cattle reaching peak levels since late 2019. This is due to increased demand and decreased supply, with sheepmeat prices rising sharply since March and cattle prices driven by strong demand and feed concerns. The COVID-19 pandemic has also impacted processing plants and saleyard activity, potentially influencing future market trends. Both countries, being major producers of sheepmeat, are trying to meet global demand, with New Zealand's record temperatures leading to an early offload of heavier cattle, and Australia facing similar supply challenges for finished cattle.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Australian livestock prices aren’t the only ones currently booming, with New Zealand sheep and cattle achieving historical price highs this week, according to NZ Agri HQ weekly report figures. Sheep The week beginning 16 August saw NZ slaughter lambs and mutton achieve 908¢/kg and 660¢/kg cwt, respectively. The last time prices neared this level was at the end of 2019. Sheepmeat prices in NZ have risen sharply since March this year on the back of heightened demand and recently reduced slaughter levels. An earlier offload of prime lambs in 2021 has left winter slaughter supply shorter than ideal and has been compounded by this time of year being seasonally low in NZ compared with Australia. Australian lamb prices have also lifted since June 2021, and are currently at their highest level since March 2020, just prior to COVID-19 impacting the trade. The Australian eastern states heavy lamb price currently sits at 978¢, with mutton at 680¢/kg cwt. NZ supply declines may be ...

Source: Mla