In contrast to flat Dairy values, Beef values have fallen on average 6.5%, losing most of the gains in value from last year. The 2023-24 season was a difficult one with weak demand from China and Australian meat flooding the market. Prices for beef have held up well due to drought in North America and relatively strong European and North American markets.
Prolonged drought in Australia will continue to see record levels of exports flooding some markets, putting downward pressure on beef values.
Drought in many parts of New Zealand has also put pressure on meat works to process stock, however most farmers were well placed due to good stock weights coming into calving.
From a regulatory perspective there has been a pause and/or a wind back of some unpopular and unworkable regulation. Uncertainty remains as to what regulation will come in its place from the new Government.
Disclaimer: This blog has been carefully prepared, but it has been written in general terms only. The blog should not be relied upon to provide specific information without also obtaining appropriate professional advice after detailed examination of your particular situation.
