Wednesday, 07 February 2018 09:55

Bright outlook for meat

Written by  Peter Burke
B+LNZ chief economist Andrew Burtt. B+LNZ chief economist Andrew Burtt.

Rising economies in most countries New Zealand exports to is a key reason for the record lamb and mutton receipts for the December quarter, says Beef + Lamb NZ. 

Beef receipts were the second-best on record.

B+LNZ chief economist Andrew Burtt says the US economy is now doing well, Japan is coming out of recession and Europe is picking up, all at a time when the NZ dollar is staying high.

Lamb is a notable beneficiary of this economic surge.

“Lamb export receipts reached a record high of $677 million from October to December 2017, up 47% on the same period in 2016. 

“The average FOB value in this December quarter equalled the record set in the December quarter of 2011 at $10,460 per tonne – up 22%,” Burtt says.

At the same time, the value of mutton exports reached record highs.

“The volume of mutton exports was up sharply in the December quarter – by 46%. This was the highest volume of mutton exported since subsidies were removed. 

“The average value per tonne was a record $6680, up 32% on the same period in the previous season. However, total mutton production is forecast to be down 9.1% for 2017-18.” 

Burtt  says beef and veal exports generated $588m in the first quarter of the 2017-18 season, up 29% on the same period last season and the second-highest on record for the December quarter – only behind the 2015-16 season.  He says the US remains NZ’s largest beef market, taking 43% of beef exports in volume (+27%) with most of this destined for processing into hamburgers to augment local production.

Beef exports to China were also up; it now takes 22% of our beef exports, making it NZ’s second-largest market.

China continues to be a major market for NZ lamb and in the December quarter exports there rose 114% to $164m.

More like this

B+LNZ gets new CEO

Beef + Lamb New Zealand (B+LNZ) has appointed Alan Thomson as its new chief executive officer.

B+LNZ backs PCE findings

Beef + Lamb NZ has welcomed most of the recommendations in the latest report by the Parliamentary Commissioner for the Environment (PCE) relating to land use change.

Featured

AgriSIMA 2026 Paris machinery show cancelled

With the current situation in the European farm machinery market being described as difficult at best, it’s perhaps no surprise that the upcoming AgriSIMA 2026 agricultural machinery exhibition, scheduled for February 2026 at Paris-Nord Villepinte, has been cancelled.

NZ tractor sales show signs of recovery – TAMA

As we move into the 2025/26 growing season, the Tractor and Machinery Association (TAMA) reports that the third quarter results for the year to date is showing that the stagnated tractor market of the last 18 months is showing signs of recovery.

National

Machinery & Products

» Latest Print Issues Online

The Hound

Picking winners?

OPINION: Every time politicians come up with an investment scheme where they're going to have a crack at 'picking winners'…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter