June 16, 2008

New Zealand beef exports fall 40 percent in May
   
  

New Zealand beef and veal exports fell 40 percent in May as domestic peak cattle slaughter season is close to an end.

Exports from January to May fell 11 percent on-year to 170,693 tonnes due to a decline of shipments to all of New Zealand's key markets, according to the New Zealand Meat Board.

Exports to the US dropped 45 percent to 11,980 tonnes as record beef import prices dulled US demand.

Shipments to Japan also plummeted 48 percent on-year to 1,934 tonnes while exports to South Korea went down 32 percent on-year to 1,769 tonnes as the pending US beef re-entry disrupted the South Korean market.