On our road show 2024 we talked through Beef + Lamb New Zealand’s (BLNZ) refreshed strategy, which is all about achieving our vision of thriving sheep and beef farmers now, and into the future, and we tested our thinking on some key policy areas.
There really is nothing like talking to other farmers face-to-face. We got some great feedback and really interesting ideas, and our policy team are already incorporating some of those into our policy responses.
I particularly appreciate farmers taking the time to come to these sessions when times are tough onfarm and many are heads-down just getting on with it.
We are all acutely aware that there are a lot of challenges at the moment, with factors such as low sheepmeat prices and high input costs. B+LNZ’s analysis indicates that we’ve bottomed out in terms of the downturn but the recovery is going to take some time.
Global beef prices are expected to remain strong, but we are not expecting a major turnaround in global sheep meat prices at this stage. The main driver of this is the Chinese economy, which is expected to remain sluggish for some time.
However, we have more recently seen a sharp decrease in Australian lamb processing. If this continues, coupled with lower than expected New Zealand supply, this could drive up global sheep meat prices.
‘Beef + Lamb New Zealand’s refreshed strategy is very much a response to the current situation. It’s not a change in direction but rather a refocus to support farmers right now to thrive.’ – Kate Acland, chair, Beef + Lamb New Zealand
We have also started to see a decrease in interest rates. There will be some immediate relief for those on floating loans, but for many farmers who are on fixed term loans these decreases will take some timeto flow through.
I firmly believe the medium to long-term outlook for our sector is positive as global demand for cattle and sheepmeat are recovering and expected to continue to grow.
B+LNZ’s refreshed strategy is very much a response to the current situation. It’s not a change in direction but rather a refocus so we can deliver the tools, resources and support farmers need right now to thrive.
We’ve increased investment where farmers told us it matters most: behind the farm gate; and we’re committed to ensuring our work adds value to farmers’ bottom lines. This includes ramping up our extension offering and maintaining future-focused research and innovation portfolios as top priorities – with increased investment in sheep, beef and dairy genetics and in addressing internal parasites and facial eczema.
We’re focusing on enhancing and sustaining onfarm productivity and profitability balanced with sound data, research and insights, to help set our sector up for future success.
Our support with editorial for publications such as SHEEP Country reflects this onfarm focus, and you’ll see plenty of examples of information you can use in this issue.
- Kate Acland is the chair of Beef + Lamb New Zealand
