China regains top spot for New Zealand red meat exports in October

Red meat exports for the month totalled $662 million, a seven per cent increase on the same month last year, including $170 million to China. MIA chief executive Sirma Karapeeva said that while exports to China were down 10 per cent year-on-year, there were signs of green shoots, with indications that lamb prices had now bottomed out. "Overall October exports were generally positive with increases to most major markets and an increase in value for both sheepmeat and beef. "Compared to recent months, there was a smaller drop in the value of sheepmeat and beef exports to China. "There was also positive growth in exports of chilled sheepmeat and beef, particularly chilled sheep meat to the European Union". Sheepmeat exports to China were down by 16 per cent year-on-year to $$79 million and beef by 17 per cent to $56 million. There was a 28 per cent increase in the value of fifth quarter exports, to $35 million. Exports to the US rose by 13 per cent to $145m and by three per cent to ...