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The May AgriHQ Livestock Outlook puts New Zealand farmgate sheep and beef prices near record highs for the season. A shortage of killable stock has pushed in-market lamb and beef prices to unexpected highs.
Export bull and steer prices averaged $5.65 to $5.70 per kg in April, more than $1 above the five-year average.
Tight New Zealand supply supports export prices and strengthens demand for alternative beef, especially in the US market where domestic supply is expected to be tighter. The effect on U.S. cattle futures is modest.
farmersweekly.co.nzMel CroadMay 11, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
