The latest Beef + Lamb NZ Season Outlook for New Zealand’s sheep and beef farming sector forecasts a significant decrease in profitability for the 2024/25 season.
Senior Agricultural Analyst Angie Fisher from Beef and Lamb New Zealand explains the 7.4% drop is attributed to the lingering impacts of drought, inflation and reduced prices from the previous season.
Despite these hurdles, strong demand from the EU, UK, and US, particularly for beef, offers a glimmer of hope, she says.
Fisher discusses how farmers are also hopeful that potential interest rate cuts by the Reserve Bank could provide financial relief.
Listen to the full chat between Angie Fisher and Dominic George above.
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