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8 July 2021
Market Commentary

Livestock Report: Lamb prices on the rise

Listen now as The Country’s Jamie Mackay is joined by PGG Wrightson’s Mid-South Canterbury Livestock Manager, Joe Higgins, to talk about New Zealand’s livestock market. It has been a month since the Canterbury floods and the recovery has been progressing slowly. Higgins says that some areas, especially around the gorges, look like they will still be fixing up the damages until November-December of this year. Mackay asks about yesterday’s Inland Ewe Fair and with the high prospects around lamb, the prices would have been buoyant. Higgins thinks that Inland Ewe Fairs are a thing of the past and that 10-15 years ago there would have been two sales a year processing 20,000 sheep, but yesterday’s one only mustered up 4,000. Mackay notes that buyers are effectively getting 2-3 inland ewes for the price of one, and that the majority are scanned so farmers know what they are getting. Higgins adds that there was one pen that topped the sales at $278 NZD and they scanned in at 237%. Livestock product’s instore prices have strengthened over the last month, especially with cattle. Higgins adds that limited space for processing cattle has slowed, resulting in a backlog since January. Higgins has a gut feeling that lamb prices will increase heading into the spring, and sit around $9 per kilo.  Mackay adds that there is a dog sale in Mayfield, mid Canterbury, tomorrow. Higgins adds that prices are starting at $2,000 and can go up to $8,000+, and the sale process are entertaining to watch and beneficial for the breeders.  

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