November 9, 2007

New Zealand posts low beef exports in October

Beef exports from New Zealand (NZ) sharply declined in October, traditionally the lowest month for the year, due to tight beef production constrained shipments. Exports for the month fell 6 percent on September and 23 percent year-on-year, to 12,538 tonnes slaughterweight (swt) - the lowest monthly total since 2002.

According to Meat and Livestock Australia, sluggish manufacturing beef demand from the US, a stronger NZ$, combined with tighter cow supplies, saw shipments to the US fall 33 percent on the same period last year, to 5,276 tonnes swt. Exports to the US for the first 10 months of 2007 were back 8 percent, at 143,484 tonnes swt - the lowest since 1996.

While down significantly on previous months, shipments to Japan were up 5 percent year-on-year, to 1,403 tonnes swt despite falling from the previous months. In contrast, exports to Korea fell 16 percent on last year, to 1,273 tonnes swt - the lowest monthly total since October 2004.

NZ beef exports for the first 10 months of 2007 were down 3 percent on 2006, at 298,757 tonnes swt.