New Zealand: Red meat exports fall, China's performance recovers

Lamb and beef prices are down 8 percent from last year's highs as the industry cites global economic woes.

Jason Krupp, strategy and advocacy manager for the MEAT Industry Association, said the drop in EXPORT earnings will be felt on farms. “Of course, lower prices will affect revenue. These prices were quite high last year, but as incomes have declined while on-farm expenses have risen, farmers will obviously be subject to inflation in terms of the goods and services they buy, but also in terms of the debt they owe. service. We certainly see some pressure on farmers, and there are expectations that our profits could fall by a third,” he said.

Exports to CHINA are up 22% compared to March last year, driven by the easing of covid-19 restrictions , while mutton prices fell a whopping 36% for US buyers.

Exports to the United Kingdom fell by half to $244 million, while exports to Japan fell by 40 percent.