As processing companies make every effort to draw out remaining stock, prices likely to at least hold steady, if not to rise.

Solid tallies of commercial stock through late June and July continued during August in North Island saleyards, particularly for cattle. Driven by a similar imbalance between supply and demand, comparable trends were at play in the South Island. Store cattle fetched record prices, while finished cattle also commanded positive attention as the meat companies make every effort to draw out remaining stock, competing for animals at stronger values. To take advantage of the good prices they have received, some South Island farmers sold earlier than necessary. How long these conditions can be sustained remains to be seen. So long as the tallies keep coming however, prices will continue to at least hold steady, if not rise.

As processors attempt to draw out lambs, the lamb schedule has steadily increased. Coupled with this, the South Island kill has been ahead of last year due to autumn drought conditions. This meant fewer lambs were brought into Canterbury for winter finishing, resulting in a shortage of finished lambs being processed in recent weeks.

Good recent rainfall through most regions of both islands has set the scene for plenty of growth during the spring.