fbpx
Print this page
Monday, 13 June 2022 13:55

Red meat clambers higher

Written by  Staff Reporters
Lamb prices have hit $8.78/kg recently. Lamb prices have hit $8.78/kg recently.

Meat prices are undergoing their seasonal lifts, according to a report from ASB released last week.

The report claims that after reaching a $5/kg mark, the bank’s weighted average beef price has started turning upward.

Meanwhile, lamb prices are already turning around, hitting $8.78/kg after hitting a low point that was still above most of the previous season’s high points.

Currently, global protein supply remains tight with few signs of this turning around, the report claims.

The report says ASB’s economists are staying optimistic when it comes to red meat demand.

“While global economic growth is set to slow, protein demand will remain relatively inelastic, and the ongoing reopening of food service channels should support the prices,” it reads.

The report states lamb prices are expected to outperform, with the stage set for a seasonal price peak in the $10.00-$10.50 range.

More like this

Co-op boosts chilled exports to China

Alliance Group has secured greater access for chilled beef exports to China, following approval for two of its processing plants to supply the market.

Popular Reads

Featured

Bridge Pā Table Grape Harvest Starts Weeks Early

Budou are being picked now in Bridge Pā, the most intense and exciting time of the year for the Greencollar team – and the harvest of the finest eating grapes is weeks earlier than expected.

Farmlands Posts Strong 2025 Half-Year Growth

Rural retailer Farmlands has released it's latest round of half-year results, labeling it as evidence that its five-year strategy is delivering on financial performance and better value for members.

Editorial: Trump's Tirade

OPINION: "We are back to where we were a year ago," according to a leading banking analyst in the UK, referring to US president Donald Trump's latest imposition of a global 10% tariff on all exports into the US.

National

Machinery & Products