Supply: Demand At Work in NZ

UK - A shortage of prime cattle in New Zealand has forced local trade prices up to $3.70/kg (£1.32) dw in the North Island and $3.50/kg (£1.25) in the South Island.
calendar icon 31 August 2007
clock icon 1 minute read
The weekly North Island steer and heifer kill has fallen well below the average level of the past five years.
However, it is mid-winter and prime cattle are always in short supply at this time. In recent weeks North Island export plants have killed fewer than 10,000 head of cattle (bulls, cows, steers and heifers) a week, versus the past pattern of around 15,000/week at this time of year.

Wilson Hellaby managing director Fred Hellaby said the local market buying price around Auckland was $3.25/kg through until early July.

“That rise of 30-40c since has happened quickly and will flow on to retail beef prices,” he said.

Exporters appeared to be struggling to compete with local market operators.

Source: Farmers Guardian
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