Aussie glut cuts NZ lamb prices to the bone

Aussie glut cuts NZ lamb prices to the bone
New Zealand lamb on a Kaipara Hills farm. (Image: Getty)
Riley Kennedy
The farmgate price for lamb is expected to remain under pressure for quite some time as product from across the Tasman continues to flood overseas markets.All red meat products have faced downward pressure this year as the global economy has slowed and consumers in New Zealand’s key export markets have reduced their spending.The average lamb price for this season is forecast to be the lowest since 2008.Throughout mid-November, according to BNZ, lamb prices tracked around 25% below last year.At the start of this season, two of the largest...

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