New Zealand beef exports fall 10 percent on-year in January

New Zealand's beef exports fell 10 percent on-year to 29,185 tonnes swt in January, according to Meat & Wool New Zealand.

Beef shipments to the US dropped 9 percent on-year to 14,966 tonnes in January. Volumes to the US may be under pressure as members of US dairy farmers organisation, the Co-operatives Working Together, are voting to fund a herd retirement scheme that will purchase and slaughter US dairy cattle for at least two years in order to lower milk supply.

Beef exports to South Korea during January plunged 37 percent to 3,269 tonnes swt, as credit problems, high beef inventory and the return of US beef pressurised trading.

However, exports to Canada grew 30 percent to 2,132 tonnes, while shipments to Japan jumped 21 percent to 2,892 tonnes as importers took advantage of the more favourable exchange rate.

Beef and veal exports between October 2008 and January 2009 increased 3 percent on-year to 102,594 tonnes, following a 19-percent lift in adult cattle slaughter in October and November.