Red meat earnings drop as exports fall worldwide
The softening of high global prices has put a dent in New Zealand’s red meat export earnings. Last year $11.4 billion of red meat was exported with forecasted easing of prices felt at the tail end of the trading year. That resulted in a 9% drop in the value of exports to $966 million in December, compared with the same month a year ago. Sheepmeat exports were down 19% to $338 million, beef exports fell by 15% to $428 million and organs, hide, blood and other products by 9% to $200 million.
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