June 2023 Introduction Beef and Lamb Processing capability in NZ remain restricted. Immigrants now coming into NZ and will improve situation as skill set improves. Shipping has returned to relative normality. Operators now chasing business. International grain/feed prices still high and appear to have reached a relative stability. The NZD had dropped significantly though have seen a small recovery of late. Southern/east Asian markets on the firm side and holding. Seems to be at the top. China and Europe markets are both weak. Beef Southern/east Asian markets strong and holding. Seems to be at or near the top though. Steak cuts: Australian steak cuts starting to flow into NZ after a long hiatus as their herd rebuild continues. Seems like downward price pressure within NZ and supply now good while moving into June flush before the off-season. Secondary/Round cuts: Very strong demand and pricing firm. Grinding meat prices have been softening recently and look to continue for now. The back end of the year was expected to see very strong pricing as affect of drought bites but Foodservice demand now dropping. Australia’s beef herd rebuild may well be impacting too as their production continues to ramp up. Poultry – Chicken Entering a period comparative stability. Bird sizing average has settled down. Bird supply volume is about as good as it can get for now. Grain prices appear to have finally reached some degree of stability but still at elevated prices.
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