Key points:
Current heavy lambs in NSW dominate throughout, at their highest volumes as a percentage of total yardings in two years
Winter price peak is forecast to be softer than traditional levels
Heavy lamb supply expected to remain buoyant throughout winter into early spring.
Current market situation
Heavy lamb yardings in NSW are dominating current throughput as a percentage of total volume across the state. This is the direct result of two key factors: the seasonal conditions providing excellent weight gain and growth, and the strong heavy lamb market incentivising producers to put on more kilos for increased returns.
Key points:
Global swine stocks up 15% year-on-year, yet still well short of 2018 levels
Chinese protein consumption shifts away from pork, increased demand for red meat
In 2021, ASF remains the single most significant factor affecting the meat sector in China across production, imports and consumption, two and a half years after it first entered China in mid-2018.
China has made significant investments in ASF vaccine development, but none have yet reached the stage of commercial development and numerous trial vaccines show mixed results. Vietnam has also been investing in vaccine development and testing.
While China’s pork production recovery began in Q4 2020, it is expected to take several years due to the extensive loss of pig numbers. Current forecasts suggest that China pork production could range between 45–55 million tonnes carcase weight equivalent (cwe) by 2025, likely still down on pre-ASF production levels at a five-year average around 55 million tonnes cwe (GIRA)
Record cattle prices may slow national herd recovery as farmers struggle to restock
FriFriday 16
AprApril 2021 at 9:23pm
The Eastern Young Cattle Indicator has passed 900 cents a kilo for the first time in history.
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Record cattle prices are making it hard for producers trying to restock and may put the brakes on the national herd s drought recovery.
Key points:
Demand has spiked after rain in drought-affected areas last month
High prices are making it hard for cattle producers trying to restock People need to rebuild the herd and they re scrambling to, NAB agribusiness economist Phin Ziebell said.