Demand for New Zealand's beef set to remain strong amid global disruption

Prices for New Zealand beef remain strong in exports markets despite the turbulence in the global beef trade, with producers in a good position ahead of spring, a new report says. Restrictions on beef exports from Argentina and ongoing disruption from Covid-19 were creating turbulent conditions in the global beef trade but farm gate prices for New Zealand beef had remained elevated over the last three months, RaboResearch analyst Genevieve Steven​ said. Rabobank’s quarterly report on the global beef trade showed this was due to demand from China, as well as lower export volumes from Australia. “Pricing across both islands is tracking well ahead of last year and currently sits 10 per cent above the five-year average,” Steven​ said. Exports for the first half of the year were up 3 per cent on last year’s volumes, despite less beef going to the United States and Canada. Export volumes of beef had dropped by 26 per cent and 56 per cent respectively in those markets, as exports to ...