Beef Beef cut pricing remains relatively stable at present but at high levels. Strong Global demand for NZ beef continues to support prices. The Beef Schedule for both Prime Steer (PS) and Manufacturing beef continues to climb quite steeply on the back of local trade demand and seasonally lower number of cattle being processed. See graph below. Prime Steer steak cuts are in very tight supply around the country further supporting prices Round cuts (for dicing, corned silverside, schnitzel etc) prices are at levels unseen on the local market. Pricing is expected to remain at similar levels. Manufacturing/Trims: Pricing remains steady on seasonally low levels. Activity in the US is subdued. Australian beef maybe about to hit the market again. But NZD supporting price level for now. But for how long? Beef Schedule Graph below indicates how the beef schedule is tracking season to date. The difference is to same time last year in closing. Pork Imported Pork Europe Europe has significantly reduced pig numbers. Feed, energy and fertiliser prices have skyrocketed translating into higher prices. Some suppliers are late on contracts or not offering. Some European exporters are now not willing to send ‘high risk’ products (this that may contain glands or overweight vacuum packed pieces) to NZ because of MPI inspection failures at our borders. We are seeing NZ market suppliers in and out of stock due to supply issues and MPI testing failures. Pricing should remain at similar levels we have now for the short term (next 2-3 months) We are well stocked! USA St Louis rib pricing has turned the corner & is trending down for new contracts. This product should be here in December. NZ Pork NZ Pig Farmers can not now make ends meet. They have been absorbing the cost increases we have been seeing but not anymore. If it keeps going like it is many will be shutting the doors and exiting pig farming. We haven’t seen any real price increases of NZ pork for months. Prices have to go up if we want a NZ Pork Industry. Increases totalling 20% between now and Christmas look a possibility on boneless cuts with price movements reviewed monthly. The schedule is already on the move for some suppliers and more next week. This will continue. Our first increase is from mid September.
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