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New Zealand Lamb Prices “Well Below” 2014 Levels

25 August 2015

NEW ZEALAND – Issues on the demand side of the market have pushed New Zealand lamb down 54 cents per kilo on this time last year.

This is according to the Agriculture and Horticulture Development Board (AHDB) which has said “softening demand” from China and a recent decline in UK buying has created “difficult export conditions”.

Both the UK and China have higher domestic supply, which has added further pressure to drought-induced slaughtering back in November, when prices began to slide.

New Zealand’s supplies were expected to tighten as the season progressed due to higher slaughter rates earlier in the season but an AHDB Beef and Lamb spokesperson said supply had been up, barring February and March.

“Prices have recently started to show their seasonal increase,” said the spokesperson. “However, it is coming later than normal which means they remain well below those seen in 2014. The current schedule deadweight lamb price is 509 cents/kg – 54 cents down on this time last year.”

Overall, slaughter is one per cent up for the first half of the year with lower carcase weights meaning production is down but only by a “modest” one per cent.

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