Farmers Weekly NZ November 20 2023

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Vol 21 No 45, November 20, 2023

View online at farmersweekly.co.nz

$4.95 Incl GST

Stockpiles clog China lamb sales Neal Wallace

NEWS

T

Lamb

HE $97.9 million loss reported by Alliance Group for the past year graphically illustrates how tough this period has been for the sheepmeat industry, and it does not look like getting any easier. Lamb export prices are falling faster than earlier forecasts, prompting Silver Fern Farms (SFF) to lower expected prices for lamb through till January by up to $1.10/kg and mutton by up to 80c/kg. Meanwhile Alliance chief executive Willie Wiese said sheepmeat inventory in storage in China has reached 1 million tonnes, double the normal volume for this time of year. Exporters said global lamb prices will not recover without a lift in demand from China, which may not occur until the second half of next year. Alliance’s $97.9m loss before tax for the year to September 30 2023 represents a $214m turnaround from the previous year, when it reported a record $116.3m profit. The after tax loss was $70.1m, compared to a $73.6m profit a year earlier. The conditions that underpinned that loss look like remaining for at least this season,

with consumers remaining cautious with their spending, high inventory levels and cheap Australian sheepmeat flooding markets. SFF this week revised its forecast lamb prices through until January to $5.80-$6.60/kg (plus programme premiums) and mutton from $2.50-$3/kg. On September 1 it forecast lamb prices through to December at $6.90-$7.30/kg (plus premiums) and mutton $3-$3.80/kg.

The decline in the markets for lamb and mutton in particular was quicker than some of our most experienced sales staff have seen in their careers.

Boys and their toys Arlo Knowles, 1, takes the wheel as cousin Kanu Nicole, 2, and grandfather (obscured) Aaron Hegarty of Christchurch explore the tractor display at the New Zealand Agricultural Show in Christchurch last week. Thousands of people attended the three-day annual event at the Canterbury Agricultural Park as it marked its 160th anniversary. Photo: NZ Agricultural Show

Winning bid for young auctioneer

Dave Courtney Silver Fern Farms Alliance last month forecast lamb prices through to December at $6.80-$7.50/kg (including premiums) and mutton $3-$3.50/ kg. AFFCO predicts lamb prices could fall below $6/kg this season. Exporters say that without China, mutton is even harder to sell. SFF chief customer officer, Dave Courtney, said global sheepmeat markets have been challenging for longer than expected. Continued page 5

Five years of dedication, perseverance and doing the hard yards reaped rewards for Henry Miller as he gunned for the New Zealand Young Auctioneers Contest.

PEOPLE 6 Tools for reducing on-farm emissions are likely to be in the hands of farmers by 2030.

Strawberry growers could be facing another difficult year as low prices kick in early.

A Manawatū artist credits his success to the beauty of New Zealand farming scenes.

TECHNOLOGY 5

NEWS 11

PEOPLE 18

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Purchase a 2.5L or 5L of TURBO® or BOSS® Pour On, 20L of TURBO Triple + Tape or 2 x 20Ls of BOSS Triple and receive a ham.

PROUDLY

NZ

OWNED

TURBO® and BOSS are registered trademarks of Alleva Animal Health Ltd. TURBO pour-on (A011722), BOSS pour-on (A010817), TURBO Triple + Tape Mineralised Oral Drench for Sheep (A011932) and BOSS Triple combination mineralised drench for sheep (A011614) are registered pursuant to the ACVM Act 1997. See www.foodsafety.govt.nz for registration conditions. Ham received may differ from advertised image. Ham available while stocks last.


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