WOOL
The South Island wool sale saw prices lift for mid micron wool for a high for the year but finer micron merino product struggled to attract prices sellers were happy with and resulted in high passings.
The currency has stabilized at its new level now for two weeks helping maintain buyer confidence in the coarse wool market and Wools of NZ’s investment with Noble Bond to infuse gold and silver into the product is a novel niche idea to add value.
Interim results show wool farmers have rejected the wool levy proposal in spite of an excellent turnout in this contentious debate and the sector will continue without industry promotion or development investment for it's product.
LAMB
Spot prices continue to build toward forward contract offerings as the early new season chilled product gets closer to harvest.
Processors are reporting lower lamb stocks than last year although in China volumes are only just starting to be consumed and much more will be needed to be cleared before they re-enter the market.
The mutton market is awakening from it’s yearly lows with better interest being shown from the UK, the Middle East and new Chinese traders entering the market at a lower price.
The potential of fodder beet as a low cost finishing feed for lambs and beef is being explored by a few innovative farmers who have refined their management skills to utilize this quality feed for young growing animals.
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BEEF
Beef schedules are still growing as Rabobank reports in their Beef Quarterly that all signs point to prosperity for this sector for a good while yet.
NZ Beef exports to Indonesia have doubled since the quotas have come off and although the US imported beef market prices have eased due to heavy Australian supplies, processors are still optimistic that the season will be strong.
Proponents of the Ruataniwha irrigation dam report they are close to meeting investor targets with a wide range of land use options proposed, and with good medium term prospects intensive beef production will be sure to be one of them.
DEER
The peak period of the season for chilled venison shipments has arrived, and processors report strong demand in Europe has also seen enquires for air freight for later processed product.
High beef prices has driven interest for manufacturing venison grades in the US as the market looks to keep consumers eating red meat during this upward cycle.
Early season optimism for velvet producers as steadily increasing volumes are being consumed by a healthy food market and price stability maintained.
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