Historical highs for New Zealand's beef and lamb exports in December

Published 2022년 1월 26일

Tridge summary

The 2021–22 red meat export season in New Zealand started strongly, with high export and farmgate prices in the first quarter due to solid demand and supply fundamentals in key markets like China and the US. Record-high export values for both beef and lamb in December were driven by high market demand and a favorable exchange rate. Economic recovery in major markets following the pandemic, increased consumer demand for food, and tighter global beef and sheepmeat supply have contributed to the high returns for New Zealand exports. Demand from the US and China is particularly driving these returns, with China accounting for 51% and 45% of total beef and lamb exports, respectively.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The 2021–22 red meat export season started on a high for New Zealand's exporters and producers. Firstquarter (October 2021 to December 2021) export and farmgate prices were higher than historical trends, supported by solid demand and supply fundamentals in New Zealand’s key overseas markets, particularly China and the US. The exchange rate has also shifted in favour of exports, allowing the positive in-market sentiment to flow into exporter and farmer returns.The month of December was a highlight for export performance with the average export value of both beef and lamb exports reaching all-time record highs. With export volumes similar to historical levels, the lift in export value can be attributed to unprecedently high market demand. Demand from the US and China is driving current high returns for sheepmeat and beef. Both markets experienced strong economic recovery in 2021 following the economic shock from the pandemic in 2020. Combined, these two markets accounted for 70% of ...

Source: EuroMeat