Positive trends for velvet and venison evident in recent sire stag and elk wapiti bull sales

Challenging conditions over the past two years, particularly for venison returns, seem to have been overcome, leaving deer farmers with an increasingly positive outlook.

A series of recent livestock sales, mainly featuring sire stags and elk wapiti bulls, resulted in high clearances. Whether based on venison, velvet or trophy, all stags sold well, reflecting the efforts of PGG Wrightson’s team of deer specialists. Of the 74 bulls offered at the season’s final sale, at Clachanburn Elk, Ranfurly, 71 sold at an average price of $3700. Meanwhile, at Netherdale, Balfour, Southland the season’s top priced stag changed hands for $135,000, purchased by a South Canterbury syndicate.

Stag sales continue to attract strong attention via bidr, with the online buying bench accounting for 20 per cent of all bids across the sale season. Altrive Red Deer was the bidr high point, with online purchasers placing bids on 75 per cent of the catalogue for this sale.

Velvet returns are 25 to 30 per cent higher than this time last year. Velvet weights are a strong feature for stag purchases: three year old stags cutting over eight kilograms, showing rounded, balanced, traditional style, are drawing the most enthusiastic demand.

Competition on- and offshore is driving velvet prices to levels that may prove volatile. China, where considerable stocks of velvet remain in the pipeline due to Covid restrictions, is unlikely to obtain stocks  until after the Chinese New Year and the Beijing Olympics.

By volume, the majority of the season’s velvet is now harvested and sold which relaxes some pressure here, albeit stocks are not being exported quickly enough.

Also positive for farmers, the current venison schedule is 30 per cent higher than this time last year, at the historical low price period. In spite of continued restrictions on restaurants, sales in Europe rose, especially for chilled product prior to Christmas. While the United States foodservice sector is rebounding, sea freight logistics remain problematic. While venison consumption is not common practice in China, initiatives there are set to create new opportunities in what is always a market that holds much promise.

Optimism is therefore prevalent across all deer products.

Photo caption: Ben Beadle (PGG Wrightson Deer), Neville Clark (auctioneer), David Stevens (Netherdale Red Deer Stud) and Ron Schroeder (PGG Wrightson Deer) didn’t have to look too hard for bids.

Tony Cochrane, PGG Wrightson National Velvet Manager