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.

Optimism in the air

Ag First chief executive James Allen says dairy farmer optimism is on the rise.

Popular Reads

Featured

Fieldays to rebuild Mystery Creek services building

Fieldays to rebuild Mystery Creek services building

The iconic services building at National Fieldays' Mystery Creek site will be demolished to make way for a "contemporary replacement that better serves the needs of both the community and event organisers," says board chair Jenni Vernon.

National

Machinery & Products