NZ: Record income for lamb and mutton and second for beef (Oct - Dec 2017)
The record was based on high export volumes average free-on-board per tonne at record values for lamb and mutton and near record values for beef, while the New Zealand dollar had remained relatively strong.
B+LNZ chief economist Andrew Burtt declared in a statement that the farm-gate prices for lamb and mutton went up 30% and 59% respectively between October and December 2017 compared to the previous quarter, while cattle prices were up by 5%, relatively steady.
"Average value per tonne for exports started at a high level after strong growth during the 2016-17 season and have remained strong despite higher processing volumes so far in 2017-18," Mr. Burtt added.
While production was high in the first quarter of the 2017-18 season, in its 2017-18 New Season Outlook, B+LNZ’s Economic Service forecast that lamb and beef production would be about the same as in 2016-17, but mutton production would be down 9.1%, he said.
New Zealand beef and veal exports generated $588 million in the first quarter of the 2017-18 season, up 29% compared with the same period last season and the second highest on record for the December quarter – only behind the 2015-16 season.
The analysis shows New Zealand lamb export receipts reached a record high of $677 million from October to December 2017, up 47% on the same period in 2016.
Mutton export receipts reached a record high of $146 million in the first quarter of the 2017-18 season – up 93% – driven by strong increases in volume and average value per tonne. Previously, the record was $96 million in 2015.
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