www.guardianonline.co.nz
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New season met with optimism This month marks the start of the new meat season, and indications from processing companies and other industry insiders are relatively positive, at least for the next few months. Most of that positivity is around sheep meat and deer, with a bit more caution being expressed about beef, although it’s more that the jury is still out there rather than outright pessimism. Rabobank’s latest Beef Quarterly report, which came out late last month, said a strong New Zealand dollar and falling United States imported beef prices saw New Zealand beef prices drop marginally over the last quarter. Further downward pressure on beef prices is expected as the year progresses, it said, with increased Japanese tariffs on frozen beef imports creating additional headwinds for Kiwi exporters. Rabobank animal proteins analyst, Blake Holgate said across the three months to the end of August, New Zealand beef prices fell by 2 per cent
Colin Williscroft
RURAL REPORTER
in both North and South Islands, with reduced domestic beef supply a key factor in preventing a more drastic price drop. The number of export cattle slaughtered in the season to date is down 5.9 per cent on last season and this had helped support slaughter prices, as processors compete to procure what stock is available, he said. “Rabobank is expecting New Zealand’s cattle supply to remain limited until at least November, which should ensure any further priceeasing in the short term is not significant, however, as domestic supply increases later in the year, prices are likely to face further downward pressure.” continued over page
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