Tuesday, 05 October 2021 07:55

Covid impacts

Written by  Staff Reporters
Beef and veal export receipts are forecast to decline by 7% to $3.9 billion. Beef and veal export receipts are forecast to decline by 7% to $3.9 billion.

Global uncertainty caused by Covid and related disruption to supply chains, as well as a global shortage of labour, are cited as contributing factors to a forecast drop in NZ red meat export returns.

That's the crux of Beef+Lamb NZ's (B+LNZ) new season outlook report, which was published last week.

Chief economist Andrew Burtt says receipts from red meat exports will be about $8 billion, slightly down on 2020-21.

While lamb export receipts are forecast to increase by 2.2% to $3.6 billion on 2020-21, beef and veal export receipts are forecast to decline by 7% to $3.9 billion, driven by a decline in production and the adverse impact of the high NZ dollar on export values.

However, Burtt says the overall outlook is positive, with the fundamentals in key markets seen as solid. He says there is strong demand and tight supply, meaning prices in export markets are forecast to lift for both sheepmeat and beef.

On farm, the lamb crop this season is expected to be 22.8 million - up point 9% on last year, reflecting an increase in ewe and hogget lambing percentages. On the beef side, export production is forecast to be down by 5%. 

According to the report, farmer confidence is mixed. While on-farm profitability is positive, resilience is being tested by the volatility of adverse weather events and the extent of environmental regulation.

More like this

B+LNZ gets new CEO

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

Locally grown fruits, veg in full supply

One of the country’s two largest supermarket chains is reporting that for the first time since the disruption of Covid, they have largely full supply on almost all fruit and vegetables grown locally.

Farm returns recovering

Red meat farmers are in "a slightly better place" than they were a year ago, according to Beef+Lamb NZ chief economist Andrew Burtt.

Featured

New ag degrees at Massey

Changing skill demands and new job opportunities in the primary sector have prompted Massey University to create a new degree course and add a significant major into another in 2025.

The show is on!

It was bringing in a new Canterbury A&P Association (CAPA) show board, more in tune with the CAPA general committee, that has ensured that Christchurch will have a show this year, says CAPA general committee president Bryce Murray.

National

Food charity to hold online auction

Meat the Need, New Zealand’s dedicated charity delivering locally sourced protein meals to food-insecure communities, is launching an online National…

Machinery & Products

An ideal solution for larger farms

Designed specifically for large farms that want to drill with maximum flexibility, efficiency and power, the new Lemken Solitair ST…

Landpower increases its offering

Landpower and the Claas Harvest Centre network will launch the Claas Scorpion and Torion material handling solutions to the market…

» Latest Print Issues Online

The Hound

Leaky waka

OPINION: Was the ASB Economic Weekly throwing shade on Reserve Bank governor Adrian Orr when reporting on his speech in…

Know-it-alls

OPINION: A reader recently had a shot at the various armchair critics that she judged to be more than a…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter