New Zealand: Livestock and Products Semi-Annual

After two straight years of reaching record levels, New Zealand beef production and exports are expected to fall slightly in 2022. This decline is a result of expected reduced steer and heifer slaughter, as calf retentions in 2019 boosted last year’s slaughter number. As the size of New Zealand’s cattle herd is relatively steady, slaughter numbers are expected to return to more typical levels this year. The recent outbreak of Omicron in New Zealand is also expected to impact the meat processing sector, although it is not clear yet to what extent. China and the United States, which typically account for nearly three-quarters of New Zealand’s beef exports, are expected to continue to be the primary markets.