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27 May 2024 7:17
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  •   Home > News > Rural

    Sheep and beef farmers are looking down the barrel of their worst year in 15 years

    Sheep and beef farmers are looking down the barrel of their worst year in 15 years


    Beef and Lamb New Zealand's Mid-Season Update forecasts farm profits to be down 54 percent this financial year - to an average of 62-thousand 600-dollars per farm.

    Chief Executive Sam McIvor says trading conditions are worse than they predicted back in October, due to no recovery in China, and bigger Australian exports of red meat.

    He says they'd originally forecast a lift in sheep meat prices, and that was off positive signs from China at the time - but those rises just haven't eventuated.

    © 2024 Newstalk ZB, NZCity

     Other Rural News
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     17 May: Fonterra's CEO says the co-op's decided to divest a number of overseas operations, for the good of the business
     23 Apr: Sheep farmers are being urged to hang on
     21 Mar: The boss of Fonterra is playing down concerns about the Chinese market
     21 Mar: A good news day for Fonterra shareholders
     21 Mar: Dairy farmers will be breathing a sigh of relief with Fonterra's latest results
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