Rabobank's Agribusiness Monthly Report is out and it shows good news for the red meat sector.
Rabobank's Animal Proteins Analyst Blake Holgate spoke to The Country's Jamie Mackay about the report, saying lamb is doing particularly well.
"Prices for lamb are as high as they've ever been at this time of the season," says Holgate, who reports that although beef is not reaching the same dizzy heights, it is "still tracking along pretty solidly."
Beef is only "a couple of per cent" below prices last year, says Holgate and it is still sitting above its five-year average, so the results are "more flat than anything too negative."
Holgate says global beef prices are being affected by drought conditions in Australia and the United States.
