Velvet sale stability
The first velvet sale of the season has provided good sales and price stability.
PGG Wrightson national velvet manager Tony Cochrane says first cut Korean grades have virtually filled the order book and a stable currency has also helped retain buyer confidence.
"In the new year we aim to revisit our price levels as demand appears to be outstripping supply," he said.
"Elk/wapiti grades are in less demand than last year due to a subdued Korean frozen market. However, overall demand should lead to sales at acceptable levels.
"This also means we should cut rounder velvet that can provide an option to process which most suppliers are familiar with."
Mr Cochrane said North American production is well down and with a strong demand in the US for trophy hunting bulls, the supply should remain at low tonnages and assist the NZ position.
Velvet prices (gross $/kg):
C and D's, $102 to $113; damages, $84 to $102; overgrown, $75 to $95; spiker, $112 to $150; manufacturing, $22 to $150; regrowth, $100 to $150/kg.
Prices: (net $/kg): Hard antler, $16 to $22/kg; and, buttons, $7.50/kg.
The Timaru Herald