A strong export outlook for red meat and wool is great news for farmers, exporters and the wider New Zealand economy.
The Ministry for Primary Industries’ latest Situation and Outlook for Primary Industries (SOPI) report shows export revenue for red meat and wool is forecast to lift 14 per cent to $14.1 billion in the year to 30 June 2026.
For 2025/26, sheep and beef farm profit is also expected to increase 96 per cent to $287,600 per farmon the back of higher livestock schedule prices offsetting higher farm expenditure.
Tighter global beef and sheepmeat supplies, as well as solid demand from Europe and the US, are offsetting lower export volumes.
In 2026/27, export revenue is predicted to rise one per cent to $14.3 billion due to strong global demand and constrained beef supplies. The stronger beef revenue is forecast to offset softer lamb export prices.
Meat Industry Association (MIA) independent chair Nathan Guy said the latest forecast reflects strong demand for New Zealand red meat in key overseas markets.
“International demand for New Zealand red meat remains firm, with North American demand continuing to strengthen and Europe also showing solid demand, particularly for beef.
“That shows the continued value global consumers place on the high-quality, nutritious protein New Zealand farmers produce and the trusted reputation the sector has built in key markets.”
Beef + Lamb New Zealand (B+LNZ) chair Kate Acland said sheep and beef farmers were feeling positive about the outlook for the sector.
“That confidence is important because it supports investment in farm businesses, local services and rural communities.”
Acland said recent BERL research also highlighted the sector’s wider contribution across the New Zealand economy.
“On average, farmers and processors spend $64 million a day through communities and industries around the country, rising to $133 million a day when indirect effects are included. That flow-on spending helps sustain thousands of businesses, backs the jobs they provide and strengthens the economic base that supports communities up and down the country.
“We know that when the red meat sector does well, so does the New Zealand economy.”
Guy said the outlook points to firmer returns across the sector as global supply remains tight.
“Constrained global supply and resilient demand will continue to support returns across the red meat sector, supporting jobs, drive spending through rural communities and strengthen the wider New Zealand economy.”
ENDS
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