Cautious optimism justified among deer farmers

While for much of the year the venison price has held stable at around $9, a positive forecast indicates it will exceed $10 per kilogram before the end of 2023, a prospect that has slowed reduction of the hind herd. Demand from the growing United States market continues to mitigate seasonal reliance on Europe. 

Melior Deer’s hind sale recently achieved high averages and confirmed the confidence in the investment made in high growth rates for venison specific genetics.

Meanwhile early engagement with South Korean health food customers boosted demand for New Zealand deer velvet during the most recently completed season, improving certainty and cash flow for suppliers. However, China’s covid-related shutdown slowed sales and disrupted the market, reducing prices by five per cent on the previous year. All stocks are now sold and exported. Velvet remains a profitable income stream for deer farmers, with both production and quality continuing to grow. Although China’s economic recovery is slow and not without border issues, prices should remain stable. 

After a long hiatus, international visitors are returning to our shores, and the trophy industry is back, providing hunters the opportunity to experience New Zealand’s diverse landscape.

Clients of PGG Wrightson’s deer team have embraced bidr for recent online stag and hind offerings, increasing the geographical reach of these sales and establishing a more cohesive national market. Meanwhile farmers are increasingly opting to use Go Deer to support stock acquisition: an alternative to capital finance that ensures they still achieve trading margins. 

Tony Cochrane, PGG Wrightson National Velvet Manager