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Goat prices approaching record levels
09 May 2019
Goat prices have gained further momentum, as supply levels tighten following recent rainfall in the eastern states. OTH prices are approaching levels not seen since 2017.
Prices
As of 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. Prices previously peaked at 683¢/kg cwt before the subsequent price correction. 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 is 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.
Goatmeat exports have felt the effect so far in 2019, totalling 6,700 tonnes shipped weight (swt), 30% lower than the same period in 2018. The US remains the largest market for goatmeat exports, accounting for 67% of all exports in the first quarter of 2019.
