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7 Olive branch after Gabrielle Vol 23 No 9 | March 10, 2025
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Signs point to fat profits for sheep and beef NEWS
Sheep and beef
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HEEP and beef farmers are forecast to have a profitable year with export values strengthening, but turmoil in the global trade system is being closely monitored. Beef + Lamb New Zealand released its Mid-Season Update last week, and the average farm profit for 2024-25 is forecast to be $106,500 – nearly double last season’s $56,400 – but still below the five-year average. Chair Kate Acland said improved global market conditions are encouraging but challenges remain, particularly with United States President Donald Trump following through on his threat to place tariffs on key trading parters China, Canada and Mexico. “We’re keeping a close eye on that, and it seems there are new developments coming out daily on that one. So right now all we can do is watch and see. “But we do know that tariffs will be a concern for US farmers as well. They are big exporters of red meat, so it’s going to be a concern for them. “But any sort of uncertainty will create volatility, and that could impact these results.” Agriculture and Trade Minister Todd McClay is also keeping a close eye on the global trading environment, noting a social media post from Trump that
blanket tariffs are on the way for all agricultural imports to the US. “Our exporters are very resilient because of the free trade agreement network we have around the world. They are quite diversified, but it is clear tariffs will harm if they are put on New Zealand. “I spent this week talking to a handful of trade ministers from like-minded countries about what their views are and where they are, and there is a sort of resolution growing amongst many of them. “We’ve got to find ways amongst us to continue to bring down barriers and trade more, to give more certainty to our exporters. “But certainly, if President Trump was to put tariffs on agricultural exports from around the world into the US, it would have an impact upon New Zealand.” Despite these concerns McClay said it’s fantastic that sheep and beef farmers are likely to enjoy a profitable year. “This is very encouraging and very, very positive for our sheep and beef farmers,” he said. “But it’s more than that. It’s rural New Zealand, working hard and helping to dig the New Zealand economy out of some of the challenges we’ve faced. “And I think that what we’re seeing here on the sheep and Continued page 3
MORE:
See pages 3, 4, 12
Henderson’s picture perfect performance Whanau and family of new Golden Shears Open champion Toa Henderson, front row third from right, pose for a selfie taken by Toa’s wife Phoebe, after he became the first first-time Open finalist to win the prize in 15 years. Photo: Shearing Sports New Zealand
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OPINION 17
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