MARKET PULSE October/November 2023 August and September had the highest beef export volumes since December 2019 and this increase in exports is set to continue until the end of the year and well into 2024. There has been a huge jump in grain fed cattle pricing compared to six months ago, though grass fed pricing is remaining consistent. Lamb production in September was the highest it has been since April 2019 and with lamb about to move into peak time, it is expected that exports will hit historic high numbers. As the weather warms there are less pig numbers available for processing and pricing will continue to move up. Chicken processors are again predicting supply issues with demand for the back end of the bird, wings and thighs increasing. In terms of seafood, Norwegian salmon prices have softened and pricing is expected to rise into the first quarter of 2024. Vietnamese basa producers have struggled with low demand and low prices over the past 12 months and this may result in a shortage at the end of the year. The Gulf banana prawn season finished up more than double the last two seasons and prices are low as a result.
Download PDF file