New Zealand-Beef exports drop 10% in January.

NZ beef exports fall in January

New Zealand beef exports decreased in January, falling 10% year-on-year to 29,185 tonnes swt (Meat & Wool New Zealand). Despite this, beef and veal exports between October 2008 and January 2009 were up 3%, to 102,594 tonnes against the same period last year, following a 19% lift in adult cattle slaughter in October and November.

Shipments of beef to the US declined 9% in January year-on-year to 14,966 tonnes. Going forward, imported volumes to the US may be under pressure with the members of Co-operatives Working Together (a US dairy farmers organisation) voting to fund a herd retirement scheme (which will purchase and turn off US dairy cattle) for at least two years in order to reduce milk supply.

Volumes of beef also declined to Korea in January, to 3,269 tonnes swt, down 37% year-on-year as credit problems, high beef stockpiles and the re-entry of US product made trading difficult. Conversely, exports to Canada were up 30%, to 2,132 tonnes and 21% to Japan to 2,892 tonnes during January, as importers took advantage of the more favourable exchange rate.