In contrast to Dairy values Beef values have increased on average 9% and are almost at record values for all classes.
This is very much a tale of two halves of the 2022-23 season as exports and prices were weak in the first half of the season but have improved substantially as the season has progressed mainly due to the global supply of beef being very tight.
As with 2022, meat works continue to struggle to keep up with processing demand as employee absence due to Covid-19 continues. This has put pressure on farmers who have suffered from unfavourable climatic conditions being unable to realise the best price for their cattle.
Uncertainty continues to play a part in the domestic market as the regulatory requirements around water quality, fencing and carbon continue to come into force in the coming years and alternative proteins continue to increase in popularity and use.
Disclaimer: This blog has been carefully prepared, but it has been written in general terms only. The blog should not be relied upon to provide specific information without also obtaining appropriate professional advice after detailed examination of your particular situation.