Knowledge

To provide the latest market news and hold online & offline events to assist you being well-informed and making decisions.

07

2023

-

07

Rabobank: Agribusiness July 2023 for New Zealand and Australia

Source:

Rabobank

Beef: An uncertain US beef export market has resulted from more Australian and Brazilian production. RaboResearch expects that beef schedules are likely to hold over the winter, with upside support dependent on markets digesting ample supply among a mixed demand outlook.

 

New Zealand: Difficult Export Market Dynamics

- Beef: An uncertain US beef export market has resulted from more Australian and Brazilian production. RaboResearch expects that beef schedules are likely to hold over the winter, with upside support dependent on markets digesting ample supply among a mixed demand outlook.

 

- Sheepmeat: Concerns circulating the export market are adding downward pressure to our store lamb price and tempering future schedule prices. New Zealand sheep farmers are desperately awaiting China’s rebound in demand-but anticipation that this may not occur is emerging behind the farmgate.

 

Australia: Bracing for Weather Risks

- Beef: Rain in a number of states through mid- and late June might just be enough to stabilise prices. However, it remains clear that there is a degree of caution among producers, and as long as there is uncertainty in the weather outlook, prices will remain volatile.

 

- Sheepmeat: Sheep and lamb prices weakened further, with trade and restocker lambs seeing the largest drops. The MoM drop in slaughter numbers supports prices into spring. However, weaker consumer markets and overall increased lamb numbers continue to weigh on markets.