2023 NZ livestock profits at 20-year low due to low lamb and sheep returns, rising costs, and China's slow economy affecting meat prices.
NZ livestock profits at a 20-year low due to low lamb and sheep returns, rising input costs, and interest rates. Beef and Lamb NZ predicts this financial year's profitability to be similar to the 1980s, adjusted for inflation. Key drivers include China's slow economy affecting meat prices and Australia's lamb market flooding due to overproduction. Despite a larger lamb crop in 2023, low prices remain a significant issue for Kiwi producers.
April 08, 2024
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