Meat Processing Volumes Under Pressure in New Zealand Due to Rainfalls During W6

During W6, above-average rainfalls throughout New Zealand, mainly in North Island caused an abundance of grass cover in mid to late summer. With decreasing domestic and export prices, farmers tend to keep their stock grazing for longer to gain more weight and maximize farmgate returns. This phenomenon put severe pressure on slaughter and processing numbers, which caused a few of the country's largest meat workers to be only at 50% capacity. Despite this, global meat prices continue to ease, which has a major effect on the current profit margins of processors and exporters.