The remaining livestock available for processing in New Zealand for the rest of the season will be less than in any of the previous five seasons, according to a forecast by Beef + Lamb New Zealand’s Economic Service (B+LNZ).
A glut of local and imported supply has caused Chinese lamb prices to fall this year, with the current retail price of RMB50/kg, down 10.7% year-on-year according to pricing data from China’s Ministry of Agriculture.
China’s pig breeders appear to have had enough of low prices and are moving on to breed sheep. The key agricultural province of Shandong is seeing a shift to sheep this spring, according to reports from the local government.
China’s sheep meat prices have climbed 11% year-on-year – not quite as significant as the increase in farmgate prices for beef cattle, but more a sign that lamb is being seen as a replacement for pork and chicken among an increasingly wealthy consumer...