Producer share gains
Producer Share September 2024 Quarterly Update
Sale yard prices for cattle and lamb have seen some strong gains over the September quarter this year. After mostly trending sideways for the first half of 2024 the saleyard cattle index lifted 12% from 352 in Q2 to finish at 395 as at the September quarter. Meanwhile the lamb price index for the saleyard saw a 19% gain from 365 to 436 over Q3.
Retail beef prices are yet to follow the upward trend seen at the saleyard with the retail beef index increasing by just 3 points over the September quarter from 259 to 262. However, the retail lamb price index showed a more inflationary trend with the retail lamb index increasing by 7.7%, rising from 270 to 291 during the September quarter.
After dipping to historic lows in 2023 the beef producer share of the retail spend has continued to recover in Q3, 2024, after a brief pause for the first half of the year. During Q3 this year the beef producer share lifted from 35% to 39%, but still sits under the long term trend growth line, as indicated by the dotted line on the chart.
Meanwhile the producer share of the retail spend for sheep farmers is pretty much back on track according to the long term trend growth seen since the late 1990s. The lamb producer share sits at 61.9%, marginally above the trend line, after staging an increase from 55.8% in the June quarter.
This analysis is produced in conjunction with Beef Central and Sheep Central. At Episode 3 we are always happy to explore ways of working together with complimentary organisations. If you want to know more about what we do, or want to have a chat about how we can assist your business feel free to reach out to us on email at info@episode3.net or via the contact us page.