July 18, 2014

New Zealand's beef, lamb exports near peak levels

In the first nine months of the current season that ends in June, New Zealand's beef and lamb exports reached record levels.

Though lamb exports to Europe fell by 5.9%, they were offset by an increase of 2.4% to Asia. In value terms, beef and veal exports totaled NZD1.85 billion (US$1.61 billion).

Beef and veal exports to North Asia averaged NZD6,230 (US$5,410) per tonne, while the average value was NZD5,550 (US$4,820) for South Asia and NZD5,280 (US$4,585) for North America.

Total mutton exports reached NZD429.2 million (US$372.76 million), and the majority of mutton exports were for the Chinese market in carcass form.

By contrast, in dairy prices are on the decline. At the latest Global Dairy Trade auction, prices dropped by 8.9% and are down about 35% from the peak in recent period.