Lamb prices buoy Wairarapa

Strengthening lamb prices and a "brilliant" autumn have buoyed Wairarapa sheep farmers' spirits.
Mauriceville farmer Alan Stuart, who is Wairarapa Federated Farmers meat and wool chairman, said the great start to autumn had brought about a substantial improvement in soil moisture levels and grass growth.
"Prices are going from good to better," Mr Stuart said.
"Despite a strengthening currency the commodity prices seem to show no sign of weakness, with the minor exception of a correction in strong wool."
No farmer at this time last year would have had any inkling lamb prices in Europe would rise 40 per cent for prime leg cuts or that store lambs would "defy gravity" and hit $100 each for lambs as light as 30kg, he said.
"The forces of supply and demand are very powerful and, coupled with world-wide income improvement, are quite unpredictable."
Likewise, it was "amazing" what high demand did for the industry's health.
"Industry matters seem to settle back to routine, with stock-killing capacity issues dealt with in-house by adjusting operating times rather than having plant closures, which tend to happen only at times of severe economic hardship, and which is entirely predictable."