Livestock farm profits face 20% hit this season

Tue, 26 May 2020

Livestock farmers will see inflation-adjusted pre-tax farm profits drop by a fifth this year, down an average $25,800 at $104,400 for the season to the end of June. The grimmer outlook from Beef+Lamb New Zealand reflects the impact of drought and the outbreak of the covid-19 health crisis, disrupting what was otherwise a record start to the season for livestock farmers and primary exporters. Chief economist Andrew Burtt said demand from China was “severely curtailed” during the second quarter and he expects the economic toll of the virus...

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