Australian goat meat prices are jumping to 2017 levels
Goat prices have gained further momentum, as supply levels tighten following recent rainfall in East Australia. Since 29 April, goat over-the-hook (OTH) indicators jumped 44¢ to 680¢/kg carcase weight (cwt), 47% above year-ago levels and the highest prices seen since July 2017, according to Meat and Livestock Australia (MLA).
In 2019, prices have been steadily increasing and are currently 100¢ higher than the beginning of the year. At current levels, OTH prices remain above both year-ago levels and the 5-year average. "Due to recent rainfall across parts of the eastern states, many goat producers have likely chosen to hold onto their stock. This tightened supply and reduced slaughter are correlated to the increase in goat OTH prices seen in recent weeks. 2019 goat slaughter continues to track below the five-year average and 2018 levels. For the week ending 3 May, eastern states goat slaughter totalled 15,340 head, 56% below year-ago levels", reports MLA.
So far, exports are 30% lower than the same period in 2018, totalling 6,700 tonnes, with the US accounting for 67% of all goat meat exports.