When we cranked up in January the prices being paid by livestock processors had taken a chronic downward slide. To a degree this is normal, but this season the drop was more marked than seen for some time. By that time there had been a $2.65 kg drop since the giddy heights of October. Speaking of which, back in May we were forecasting El Nino and by the end of July saying it was imminent. The El Nino dry has been delayed and on farm productivity should not be taking the hit predicted earlier.

Source: Stuff December 13, 2023 18:09 UTC