Bull Sales Results: May 21, 2020

There has been some recovery in beef schedules in recent weeks. This is driven by the annual slow-down in the North Island dairy cow cull and a temporary beef shortage in the United States. Covid-19 outbreaks in US slaughterhouses are hampering beef production, which is leaving gaps in the US market and in markets the US supplies, such as Korea and Taiwan.  That has caused a significant upside for New Zealand manufacturing beef in North America and also in China, which is prepared to compete to an extent. It’s not all rosy, however. primal cuts are hard to shift on the export markets because of limited food-service activity. Cattle backlogs remain in the South Island and feed shortages are a concern for most of NZ. That is putting pressure on the whole cattle market. Nicola DennisAgriHQ Analyst