New Zealand's red meat exports have taken a big hit as global economic conditions continue to bite.

Hokitika-based Westland Milk Products is bracing for another good year after hitting $1 billion in revenue for the first time in 2022.

Analysis by the Meat Industry Association (MIA) shows New Zealand red meat exports dropped by almost a fifth in February as global economic conditions deteriorated.

Analysts remain divided on the forecast farmgate milk price for the new season, starting in less than two months.

Weaker global dairy prices have forced Fonterra to further reduce its 2022/23 season forecast farmgate milk price range by 20c.

A global brand platform promoting New Zealand beef and lamb is going from strength to strength, says Beef + Lamb NZ chief executive Sam McIvor.

China's reopening and changes in Chinese consumer behaviour is expected to provide business opportunities for beef exporters but also generate volatility in global markets.

OPINION: Federated Farmers is pleased that a Member's Bill from ACT MP Mark Cameron has put opportunities for live animal exports back on the political agenda.

A case of atypical bovine spongiform encephalopathy (BSE) in Brazil has resulted in temporary export suspensions from that country - as well as renewed international calls for increased transparency.

There are signs that the Chinese economy is rebounding after Covid-19, but dairy farmers may need to wait a little longer to reap the full benefits from their biggest market.