August 16, 2006

New Zealand's beef exports down in July

New Zealand beef exports during July fell 10 percent from the same period last year, to 31,037 tonnes while exports for the first seven months of the year were also down 9 percent, to 257,423 tonnes.

The reduced exports reflects low supplies as beef production approaches a seasonal low, according to Agri-fax, New Zealand's agricultural data company.

July beef shipments to its major market, the US, were 13 percent below year ago levels, at 16,058 tonnes, and down 6 percent for the first seven months of 2006, at 131,066 tonnes. Higher US cow supplies has also caused the drop in exports, as severe drought forced producers to sell their cows.

South Korea, the second largest destination for NZ beef during July, saw exports rising 11 percent to 4,681 tonnes. However, shipments for the first seven months of 2006 was down 8 percent, to 28,831 tonnes. Uncertainties about the resumption of US beef imports to South Korea continue to dog the market.  

New Zealand beef made a stronger showing in Japan for July, where exports rose 16 percent on-year to 2,904 tonnes. However, exports for the first seven months remain down by 5 percent to 26,781 tonnes.