Higher lamb meat prices eroded by elevated kiwi dollar

Mon, 05 Sep 2016

By Tina Morrison Sept. 5 (BusinessDesk) - Limited supply of lamb meat is pushing up prices in overseas markets, however the gains for local farmers are being eroded by the higher value of the New Zealand dollar. The benchmark CKT price for a leg of lamb in the UK rose to 4.10 British pounds per kilogram in August, from 4.05 pounds/kg in July and 3.40 pounds/kg in August last year, according to AgriHQ data. In New Zealand dollar terms, returns declined to $7.41/kg in August, from $7.53/kg in July, and $8.35/kg a year earlier. New Zealan...

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