The New Zealand Farmers Weekly had an interesting piece on the future prospects of farm revenues over the next year. The outlook is not looking rosy mainly because of the high NZ dollar. A NZ$ value of US$0.90 for a full season would slash farm profit to $46,400 according to the Beef & Lamb NZ Economic Service. However the crucial time for the exchange rate is when the vast majority of produce is actually exported namely between November and June.
With regard to destinations for NZ beef they are the following:
– 50% of beef goes to North America
– 9% Japan
– 8% South Korea
– 6% Taiwan