December Meat Market Update
Welcome to the Summer of 2017. According to the bureau of meteorology (BOM) it’s going to be a wetter than average December for most of the South East of Queensland, as well as coastal areas along the eastern coast of Australia. The likely 2017-18 La Nina event forecast is to be short-lived and weak. The prevailing conditions have put pressure on the supply of Grass Fed cattle pushing prices higher towards EYCI levels equal to 2015. The big premiums are being paid on re-stocker cattle which is the main driver of the EYCI. Not quite as high as 2016, but the pundits are predicting a strong push as most processors scramble to process cattle to meet export order deadlines before closures take place.
Cattle numbers are continuing to stabilise and we are still seeing re-herding numbers of pasture fed build and also a large percentage of cattle feeding on grain. The concerning trend, however has been an increase in the size of cattle due to the longer feeding time, which has resulted in larger primal cuts, some of which are not suitable to the domestic market.
To the markets and U.S. imports of Australian beef are slowing, mainly due to increased offerings from New Zealand of pasture fed product as well as the continued increase in production in the U.S. As processing here in Australia begins to slow, there may be a last-minute spike in demand, subject to the Australian dollar which appears to be heading south, closing last Friday at $0.75 USD which makes exports look a little more attractive for spot buys or forward contracts.
Domestically, it’s been a reasonable start to Summer with function venues in full swing. Function menus are still including beef items as an attractive option, especially for BBQ menus which are usually dominated by chicken. For our December specicials, we have a solid supply of Nolan’s Beef Chuck Spare Ribs (#27703), which are proving to be very popular for US BBQ trend restaurants. At $11.49/kg, it’s no wonder that these are moving fast.
From our MOCO Meats butchery team, we are offering our tender and succulent 200g or 250g Beef Eye Fillet (bonded) Steak (#40017 & #40149) at $39.49/kg. These are perfect for your functions, grill menu, or anything in between!
For details on these and other great beef specials, check out our December monthly specials with your meat specialist.
Not much has changed since November and normally where we would be inundated with offerings, the lull has been less than encouraging and supplies have been hard to come by for most foodservice cuts such as Lamb Racks, Lamb Rumps and Lamb Legs.
It may be some time before numbers recover and to aggravate the current situation, recent heavy rainfalls in country Victoria have halted production at some plants due to the inability to transport livestock. From our regular suppliers, we have managed to source a limited stock of Boneless Lamb Leg (#28979), available at $11.49/kg which is very popular amongst chefs and a must for your roast menu.
The shining beacon of the meat market which has been Pork, is beginning to fade as processing numbers tart to tighten with the warmer weather taking hold of producers’ numbers. Lighter and leaner pigs are starting to enter the market and a drive in the price of Bellies as well as Ribs has seen an increase in pricing. Processors are also noting the influence on the increased price of grain which will have a bearing on Pork production over the coming months.
One of the best products of the year we are offering on the December specials would have to be the Pork Loin – boned, rolled and strung (#990037); which is flying out at a ridiculous price $6.95/kg! Best to get in now and avoid disappointment.
To view these and other fantastic meat specials for December, click here or contact our Customer Service Team or speak to your MOCO meat specialist.