NZ red meat exports: US largest market in July - the fourth month in a row

Total NZ red meat exports globally for July were worth $773 million. Photo / Meat Industry Association

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.

Total exports globally for the month were worth $773 million, a slight drop of 2% compared to July 2023.

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

There were also increases to the Netherlands, Germany, Australia and Korea.

China remained the second-largest market but fell by 37% to $153m.

Meat Industry Association 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,” she said.

“While there was a dip in the volume of overall beef exports in July, the value of beef exports to the US increased by 6% 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 8% to 25,977 tonnes and the value was up 5% 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% to 4078 tonnes, with value up by 95% to $40m.

Volume to the EU rose by 29% to 3985 tonnes and the value increased by 25% to $63m.

Beef

The overall volume of beef exports was down 14% to 38,822 tonnes and value was down 9% to $357m.

There was a rise in beef exports to Japan, up 85% by volume to 2303 tonnes and 84% by value to $24m.

Fifth quarter

Fifth quarter exports rose by 7% to $160m.

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

There was also a 471%t 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.