The prime cattle keep rolling into the works in the North Island which is keeping a lid on prices. Last week, 300kg prime steer was $4.15/kg on average
, although up to $4.20/kg has been paid on larger lines. Bulls are few and far between and prices are strong on $4.25/kg. Local trade prices are flat, largely due to plentiful supply. Many farmers are doing the last minute dash to kill cattle before NAIT comes into play on July 1st. Supply is then expected to dry up, apart from the odd farmer that has a June 30 balance date and is holding onto killable stock until the start of their new financial year. Processors are reluctant to pay more for cattle solely on lack of numbers. The overseas markets have eased further and the NZ dollar remains a wild card, having tipped US80c last week.
Cow prices all over the show
Cow prices have been volatile dependent on how desperate meat processors are to secure numbers. There is still a buck to be made out of the cow job which has left plants chasing them over other classes of stock. The range this week has been $3.30-3.80/kg for prime cow, and it's likely the upper end will become more prevalent in the coming weeks.
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Market Brief by iFarm.co.nz
iFarm the leading source of agri-market prices, information and analysis for NZ farmers. Receive benchmark prices for the works, store and saleyard markets delivered direct to your inbox. Visit www.ifarm.co.nz or call 0508 873 283.
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