Solid returns expected for red meat sector in 2019
Solid returns expected for red meat sector in 2019 with sheepmeat leading the way – industry report
While some downward pressure is expected on beef prices in next 12 months, sheepmeat pricing is anticipated to remain strong, signalling another year of solid returns for New Zealand’s red meat sector in 2019, according to a recently-released report by agricultural lending specialist Rabobank.
In its Global Animal Protein Outlook 2019 – Value, not volume: The new growth focus Rabobank says increasing global beef supplies, combined with weakened US demand, are expected to put downward pressure on New Zealand’s beef export returns throughout 2019, however, a more favourable exchange rate is forecast to soften some of the impact on farm gate beef prices.
Full media release attached.