Prices holding up despite farm drought, high feed costs, says analyst

Despite pressures from drought and COVID-19, rural markets are generally performing well, says a rural market expert.

Heartland Bank head of livestock, Wayne McEntee told Rural Exchange farmers were having to pay high prices for feed due to drought, and the slowing of meat processing due to COVID-19.

However he said prices were holding up.

"It's pretty dire, but the markets are trading pretty well.

"If you have fat lambs they are still fetching $6.45 and you can buy them quite cheaply," said McEntee.

Watch Wayne McEntee's full interview.

This article was created for Heartland Bank as the sponsor of the Rural Exchange Market Update.