{"id":75951,"date":"2023-11-01T12:58:21","date_gmt":"2023-10-31T23:58:21","guid":{"rendered":"https:\/\/www.farmersweekly.co.nz\/?p=75951"},"modified":"2023-11-01T12:58:23","modified_gmt":"2023-10-31T23:58:23","slug":"global-red-meat-markets-continue-tough","status":"publish","type":"post","link":"https:\/\/www.farmersweekly.co.nz\/markets\/global-red-meat-markets-continue-tough\/","title":{"rendered":"Global red meat markets continue tough"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>\n

The state of global red meat markets is reflected in the value of New Zealand exports for September, which were down 18% compared to a year earlier.<\/p>\n\n\n\n

Data released by the Meat Industry Association shows red meat exports for the month were $617 million, with higher sales to Canada, the United Kingdom and Saudi Arabia but reductions in China, Japan, Taiwan, Korea, the United States and Australia.<\/p>\n\n\n\n

Association chief executive Sirma Karapeeva said the drop partly reflects the very high value of exports in September last year but also the difficult economic conditions in many key markets. <\/p>\n\n\n\n

\u201cChina, in particular, continues to be challenging with overall exports in September of $187 million, down 31% compared to last September. <\/p>\n\n\n\n

\u201cWe also saw a 31% decline in exports to Australia, where there have been high levels of domestic meat production and exports as Australian farmers de-stock in anticipation of expected dry conditions driven by El Ni\u00f1o.\u201d<\/p>\n\n\n\n

Total exports for the third quarter of this year were worth $2.1 billion, down 21% from last year, illustrating prolonged market weakness.<\/p>\n\n\n\n

Sales in the quarter to China fell 42% to $642m. Japan was back 31% to $88m, Taiwan 4% to $75m and Korea 36% to $48m.<\/p>\n\n\n\n

Exports for the year to September 30 were $10.2bn, down 11% on the same period last year. <\/p>\n\n\n\n

Exports over that period fell in most major markets but there were small increases in the US, up 2% to $2.4bn, and Canada, up 7% to $275m.<\/p>\n\n\n\n

There were positive signs in September sales from the UK, with exports up 33% to $17m due to a recovery in sheepmeat demand compared to September last year, but also growing beef exports following the free trade agreement.<\/p>\n\n\n\n

Sales in September to Saudi Arabia increased 185% to $16m, largely driven by sheepmeat, and to Canada, 16% higher at $26m. <\/p>\n\n\n\n

Sales to the US were down 3% at $142m due to a significant reduction in fifth-quarter exports, particularly tallow.<\/p>\n\n\n\n

Japan was weaker, down 4% to $27m. Taiwan fell 27% to $19m and Korea by 26% to 12m. <\/p>\n","protected":false},"excerpt":{"rendered":"Drop in exports reflects both last September\u2019s surge and tougher conditions in many key markets now.\n","protected":false},"author":25,"featured_media":5436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_FSMCFIC_featured_image_caption":"Total red meat exports for the third quarter of this year were worth $2.1 billion, down 21% from last year, illustrating prolonged market weakness.","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[2],"tags":[41,97],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t