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New Zealand's Meat Industry Association reported red meat export revenue of NZ$11 billion for the year ended June 30, up 20%, with China taking 37% of the total. Export volumes fell year on year due to processing constraints.
Strong prices offset lower volumes, showing that Chinese demand remains a key support for global red meat values. Feed demand effects are indirect, since the report covers finished meat rather than feed grains.
farmersweekly.co.nzHugh StringlemanSep 12, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
