Livestock report: Prices on the increase

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The Country's Rowena Duncum is joined by PGG Wrightson's Canterbury Livestock manager, Grant Nordstrom, to talk about New Zealand's livestock market and the "no-show Show week" in Canterbury.

The livestock selling season kicked off with the first on-farm lamb sale.

Nordstrom said it was a successful day, with Romney lambs on-selling for NZD$100-190.

It was the best price for lambs that Nordstrom had seen in 16 years.

Duncum asked about near-record export prices for New Zealand livestock and if this was in relation to the impact of recent droughts.

Nordstrom confirmed this and added it had been reflected throughout all of PGG Wrightson's sale yards.

The cost of in-milk cows had drastically increased, as they were more becoming more difficult to find.

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Nordstrom said dairy prices were at an all-time high and farmers were holding onto stock as long as they could.

Meanwhile, the rural real estate market had kicked into gear, meaning dairy properties were in demand again - and farmers were anticipating a great grass season for their livestock, with wet weather on the way in Canterbury.