Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


New Season Outlook

29 October 2004

New Season Outlook

The start of the new season is one of mixed fortunes for New Zealand sheep and beef farmers, says Meat & Wool New Zealand.

The 2004-05 year started with a late wet cold winter and similarly a late cold spring.

The New Season Outlook just released by Meat & Wool New Zealand’s Economic Service shows the season will see increases in wool and lamb production, but a decrease in the volume of beef produced.

“Farmers can look forward to generally favourable prices for lamb and beef, though the uncertainty remains over the strength of the New Zealand dollar. With most meat and wool production exported from late November to June, the strength of the dollar through this period will be a major determinant in farm gate prices. Current exchange levels are less favourable than those forecast for the season,” says Meat & Wool New Zealand Chief Executive Officer Mark Jeffries.

Mr Jeffries says a slow down in New Zealand’s economic growth and increasing interest rates and would also impact on the industry.

“Farmers can expect a reasonable year as the gross revenue for all classes of sheep and beef farmed for 2004-05 indicates an increase of seven per cent, mainly due to improved lamb production and good off-shore sheepmeat and beef prices.”

“FOB export receipts for raw wool are expected to increase $55 million on last year to $795 million mainly due to a small increase in wool production.”

“A five per cent increase in lamb shipments to overseas markets and a continuation of good lamb prices is expected to lift lamb export receipts by eight per cent on last season to $2.45 billion.”

Mr Jeffries says the season outlook offers up a mixed bag of results for beef farmers.

“Beef export receipts are forecast to decline by eight per cent to $2.32 billion compared with last year, and this is largely due to a 10 per cent decline in beef shipments from last season’s record production. Even so, export beef volumes this year will be higher than the average for the previous five years. Beef prices for the 2004-05 season are expected to increase 11 to 13 per cent from the previous year,” Mr Jeffries says.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>


Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>


RBNZ: Super Fund Chief To Be New Reserve Bank Governor

Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. More>>


ScoopPro: Helping PR Professionals Get More Out Of Scoop has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>