NZ lamb prices may rise 10% next season on lower supply, Chinese demand: ASB

Mon, 23 May 2016

By Tina Morrison May 24 (BusinessDesk) - New Zealand lamb prices, trading at a three-year low, may rise 10 percent next season, on lower supply and increased demand from China, ASB Bank says. Lamb prices averaged just above $5 per kilogram between October and mid-May, the lowest level since the drought impacted 2012/13 season, as early lamb processing saw a large percentage of the meat sold into a weakening frozen export market, and as China and the UK processed more of their own flocks. ASB Bank expects prices to lift at least 50 cents a...

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