New Zealand Beef Exports to Fall 2009-10

NEW ZEALAND - New Zealand beef exports in 2009-10 are forecast to fall 3.1 per cent to 362,500 tonnes swt, with the average price per tonne falling 9.8 per cent, according to Meat & Wool New Zealand in its Sheep & Beef New Season Outlook 2009-10.

3 September 2009

1 minute read

Oceania

The total value of NZ beef exports is expected to fall 12 per cent to NZ$2.1 billion for the year 2009-10. This decrease is due to a higher NZ$, particularly against the US$, falling demand from Asia, price sensitivity in the EU and a smaller NZ herd.

In 2008-09, total beef exports increased by four per cent. The US had an eight per cent increase in NZ beef imports, whilst exports to Asia fell due to weakening demand and competition from US exports re-entering South Korea.

Exports to the EU increased, however the return per tonne was slightly down on the previous year.

Cattle numbers were lower this year due to drought conditions, with the total herd falling to 4.1 million as at June 2009, a fall of 1.7 per cent or 71,000 head.

Export cattle slaughter is predicted to fall in 2009-10 to 2.2 million head, a decrease of 4.8 per cent. This is due to "mixed climatic conditions" and poor profitability which has restricted key farm inputs such as fertiliser. Following on from this the industry is attempting to rebuild the herd, assuming a drought-free year.