At the start of the month lightweight goats averaged 130¢ while the heavy weights averaged between 197¢ and 218¢/kg cwt. By late September some buyers were reducing rates by as much as 20¢/kg cwt due to availability and a lack of overseas demand on the back of the high A$.
During October the majority of buyers reduced their rates by around 20¢/kg cwt and prices held at these levels over the month. Factors contributing to the price fall are reported by the market to be:
- the rising A$ (considered to be a major factor in the goat price falls)
- Decreased interest from Taiwan due to local depressed economic conditions and unseasonally warm conditions during the traditional goatmeat eating period
- Over supplies of beef and lamb in cold storage in the US displacing goatmeat product
Early November saw good widespread rain across the pastoral regions, tightening the supply of rangeland goats. Rates, however, have generally failed to respond to the tightening supply as demand overseas continues to be very subdued for the reasons outlined above. Under 8kg cwt goat rates are averaging between 100¢ and 147¢, while 10kg cwt plus are averaging between 174¢ and 188¢/kg cwt.
A fortnightly Eastern State goat over the hook report is available on the MLA NLRS web page. Add this link to your favourites so you can stay in touch with the market on a regular basis.