Covid will help slice a quarter off sheep and beef farm returns - B+LNZ

Tue, 20 Oct 2020

Beef and Lamb New Zealand is expecting average profit on sheep and beef farms to fall 26 percent to an average of $115,100 this season, on the back of falling export receipts.Chief economist Andrew Burtt said uncertainty related to the covid-19 pandemic will continue to change the market dynamic for beef and sheep product exports, impacting global economies, consumer demand and trading channels.Burtt said while the weaker NZ dollar had supported red meat export returns for the 2019-20 season, a stronger expected kiwi dollar will also have an im...

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