United States hits four in row

The United States was New Zealand’s largest overall market for red meat in July for the fourth month in a row, according to an analysis by the Meat Industry Association (MIA).

Total exports globally for the month were worth $773 million, a slight drop of two per cent compared to July 2023.

Exports to the US were up 11 per cent to $248m, the UK by 72 per cent to $49m, Canada 33 per cent to $44m and Japan 24 per cent to $34m.

There were also increases to the Netherlands, Germany, Australia and Korea. China remained the second largest market but fell by 37 per cent to $153m.

MIA chief executive Sirma Karapeeva said July’s exports continued the trend of recent months with ongoing weak Chinese demand being offset by recovery or growth in other markets.

“Both the overall volume and value of sheepmeat exports rose compared to last July, with the US market remaining steady and significant increases to the UK and the EU.

“While there was a dip in the volume of overall beef exports in July, the value of beef exports to the US increased by six per cent to $165m despite the volume dropping by the same amount, which indicates there is still good demand.”

Sheepmeat

Compared to last July, the volume of sheepmeat exports was up eight per cent to 25,977 tonnes and the value was up five per cent to $256m. This was in line with the average volume of July exports for the past five years.

Exports to China were down and exports to the US were steady but the volume of exports to the UK increased by 92 per cent to 4,078 tonnes, with value up by 95 per cent to $40m.

Volume to the EU rose by 29 per cent to 3,985 tonnes and the value increased by 25 per cent to $63m.

Beef

The overall volume of beef exports was down 14 per cent to 38,822 tonnes and value was down nine per cent to $357m. There was a rise in beef exports to Japan, up 85 per cent by volume to 2,303 tonnes and 84 per cent by value to $24m.

Fifth quarter

Fifth quarter exports rose by seven per cent to $160m.

Products for the pharmaceutical sector continued to perform strongly, up 128 per cent to $33m.

There was also a 471 per cent increase in tallow exports, to $18m. Tallow is often exported in bulk, resulting in significant changes month to month. The major market for tallow during July was the US where it is used for biofuel manufacturing, with exports of nearly $15m.