New Zealand’s sheep industry continues to surprise with historically high lamb prices. According to Farmers Weekly, AFFCO offered contracts of up to NZ$ 12.20/kg for lambs delivered in September, the highest level ever recorded and about NZ$ 2/kg above last winter. At the current exchange rate, NZ$ 12.20 is equivalent to approximately US$ 7.14/kg.
The company attributed these values to a combination of strong international demand, particularly from the United States and China, and tight global supply. AgriHQ analysts said lower production in Australia, the United Kingdom and Europe should continue supporting the market at least through 2027.
Current average prices are around NZ$ 10.75/kg, compared to NZ$ 8.80-9.00/kg in May 2025. Although a larger supply of lambs is expected toward spring, processors anticipate a highly competitive winter market to secure supply.
Source: Farmers Weekly.
