Goat prices gain ground
30 May 2018
Goat indicators are on the rise, while slaughter and exports have been tracking below year-ago levels.
Over-the-hook (OTH) goat indicators, which typically increase over winter as supply tightens, have risen to 508¢/kg carcase weight (cwt) this week, up 24¢ from a fortnight ago. This is the first time the indicators have risen above 500¢/kg cwt since the market found a new level in September 2017. The recent upward trend may be influenced by the eastern states goat slaughter dropping to its lowest point since the beginning of the year, in contrast to 2017, which saw more numbers processed and uneventful price movements.
Eastern states goat slaughter has tracked below year-ago levels since March this year, with processing in May so far totalling almost 92,000 head, easing 4% on 2017 levels and 18% below the five-year average. SA saw the largest decrease for May so far, of almost 10,000 head year-on-year, or 42%, while the two largest states for goat processing, Victoria and Queensland, saw increases of 13% and 7%, respectively. Slaughter for the year-to-date (week ending 25 May) reached almost 649,000 head, back 21% on 2017 levels.
Australian goatmeat exports for April were 24% lower year-on-year, on the back of lower supply, totalling 2,252 tonnes shipped weight (swt). Shipments to the US, Australia’s largest goatmeat export market, accounted for 67% of the April total, at 1,505 tonnes swt – down 32% on 2017 levels. April shipments to Taiwan, the second largest market for Australian goatmeat, decreased by 21% year-on-year, to 261 tonnes swt. Volumes to Canada (46 tonnes swt) declined 32%, while Trinidad and Tobago (111 tonnes swt) recorded an increase of 48% year-on-year.
For further information, you can find MLA’s goatmeat market snapshot here
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