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2 May 2022
Market Commentary
Over the Farm Gate

Deer farmers taking positives from signals for venison and velvet

Venison is good news for deer farmers this year with the schedule sitting around $8 per kilogram. Following better than expected demand during the chilled venison season confidence is returning to the sector, demand is gradually building in existing and new developing markets, and prices are 50 per cent higher than at this time last year.

This is having an immediate effect on live sales, and bodes well for the upcoming season of weaner and in-calf hind sales. Weaner auctions start on 28 March at Mt Arrowsmith Station and High Peak Station on 7 April, both in Mid Canterbury, both onsite and on bidr, while the Taihape Weaner Fair is scheduled for 11/12 April in Waiouru.

Farmers looking to breed from or finish deer this season can rely on returns being more positive and certain than last year. To discuss options, to use a breeder/finisher formula, buy, sell or manage cashflow using Go-Deer, contact your local PGG Wrightson Deer Specialist.

Meanwhile, sentiment around velvet is also positive. New Zealand’s stock of 2021/22 velvet is entirely sold, with farmers upbeat about the results achieved. Growing consumer demand and the need for both China and Korea’s wholesale velvet markets to secure supply has driven prices up 25 per cent above last season. There is some risk of velvet stockpiles growing in the market as delayed shipping and covid restrictions cause disruption, although it is too soon to know if that will have any impact on next season. Underlying demand and prices remain good, with the efforts of a coalition of New Zealand companies, including PGG Wrightson, to develop a market for New Zealand velvet as a health food ingredient in China progressing well.

With velvet sales closing off in April, it is a timely to move any product from freezers.

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