Livestock market: Lamb prices 'pretty flat'

Lamb prices are "pretty quiet" at the moment, says Wayne McEntee, Heartland Bank's head of livestock.

McEntee spoke to Rural Exchange to give an update on livestock markets. 

"Lamb's pretty quiet, pretty flat - $7.20 in the North Island, $7 in the South. We compare that to this time last year, it was $7.90, tapping that magic $8."

Due to lamb markets struggling in countries facing second or third waves of COVID-19, however, McEntee predicted prices would rise.

"I think $8, $8.50, $8.25 could be where we land to milk out those last few lambs if people have got them.

"Processors are on pretty tight margins on the lamb, and really waiting for this new season to start. So they're happy to take the tight margins to try and pay better farmgate prices to get those last lambs out."

Listen to the interview with McEntee for the full market update.

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

Rural Exchange with Hamish McKay and Richard Loe, 6-8am Saturday and Sunday on Magic Talk.