Saturday, March 30, 2024

Softer deer prices still firm

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Venison prices have softened from their peak in October when prices became too hot for some manufacturers but Deer Industry New Zealand reports markets are still travelling well.
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With the average venison schedule price for a 60kg AP stag now $9.01/kg it is about $2.50/kg below the peak of $11.47/kg in early October 2018 and below the exceptionally high schedule in April last year but still $1.70 more than the five-year average for this time of the year.

DINZ venison marketing manager Nick Taylor said schedule prices tend to bottom out in April and May before trending up to a peak in September or October.

Underpinning the venison schedule last year was a spike in demand for processing grades from pet-food manufacturers. 

The pet food market remains an important outlet for processing grades but Taylor said prices became too hot for some manufacturers who have since switched to other game meats or have reduced the amount of venison used in their products.

Prices for venison in Europe have also eased back from record highs. 

Importers reported lower sales through the traditional game period and are working with their NZ suppliers to ensure prices this season are more sustainable for their retail and restaurant customers. 

“That said, demand for NZ venison remains strong and everyone in the supply chain is predicting continued strong pricing,” Taylor said.

While not the meat that’s traditionally consumed in China, NZ venison marketers have made some successful bridgeheads. 

This is reflected in export stats for 2018 that show China is now NZ’s seventh largest venison market, worth $7.167 million. 

China is also the second largest market for co-products – bones, pizzles, sinews and tails, worth $8.344m. 

The  total of $15.51m makes China NZ’s fourth largest combined market for venison and co-products.

The largest market for venison and co-products is the United States with venison at $53.24m and co-products $19.84m bringing in a total $71.09m. 

It is followed by Germany, Belgium, China, the Netherlands, Switzerland, Finland, Hong Kong and Britain. 

Most of the exports to Hong Kong are co-products, for which it is the third largest market after the United States and China.

Cervena is the premium appellation for NZ venison, attracting high prices from consumers who value its natural provenance.

To reinforce the premium DINZ and the venison marketing group of the five major venison exporters are continually looking at whether there are other opportunities to add value to Cervena.

“One of these was the introduction from January 1 of the GM-free feeding standard that marketing companies are rolling out with their suppliers. 

“This standard is not audited so it can’t at this stage be used to make a GM-free label claim but it does mean we will be able to assure customers that Cervena deer are not given genetically modified feeds,” Taylor said.

There might be other similar opportunities, such as going for an antibiotic-free claim but while that is something that’s important to some Cervena consumers it must be practical for farmers and processors to put in place. 

“At this stage it’s a work in progress.” he said.

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