Demand for lamb in overseas markets is coming at a time when supplies are lower than normal in New Zealand. A drop in slaughter rates in New Zealand, the world's largest exporter of lamb meat, has pushed up prices to multi-year highs in export markets. Benchmark frozen lamb prices for legs, french racks, forequarters and flaps all lifted in March, according to AgriHQ's latest monthly sheep & beef report. In Europe, the benchmark rose to 16.75 euro/kg from 16.50 euro/kg in February, 12.75 euro/kg a year earlier and the highest since April 2012. The benchmark lamb flap price increased to US$5.75/kg from US$5.60/kg in February, US$3.80/kg a year earlier and at the highest since September 2014, AgriHQ said.

Source: Otago Daily Times April 10, 2017 00:11 UTC