The group includes representatives from the Meat Industry Association, Beef and Lamb New Zealand and the Ministry of Agriculture and Forestry, along with two independent members.
MIA chairman Bill Falconer and chief executive Tim Ritchie, along with Beef and Lamb NZ chairman Mike Petersen and chief executive Scott Champion are included in the group, whose first task will be to select the independent members.
The strategy, which was initiated by the MIA and Beef and Lamb NZ and released in May, aimed at improving the sector's viability and increasing its earnings from $8 billion to $14 billion by 2025.
Mr Petersen said, when speaking at the Beef and Lamb central South Island farmer council's Innovation at Invermay event this week, there were a "few sceptics out there" who described the report as a "great doorstop".
Those who were sceptical had been disparaging of the people who had contributed to it, including more than 500 farmers and more than 100 industry representatives, along with banks, third parties, government agencies and Deloitte, Mr Petersen said.
It was important for sheep and beef farmers and the wider industry to look at their business alongside the themes outlined in the strategy, and adopt better practices to improve their profitability and ultimately the performance of the sector as a whole.
The report, by Deloitte, identified the greatest potential rise in sustainable profitability would only be achieved if all sector participants took action in three key areas - in-market co-ordination, efficient and aligned procurement, and sector best practice.
"The strategy is clear about where the gains for our sector can be made. The size of the prize is significant and, if collectively we take action, the report indicates that we could add another $3.4 billion, or $420 per ha farmed, in real terms to the sector by 2025," Mr Petersen said.
While some actions were for individual participants in the sector to consider, there was a range of industry-wide actions the strategy co-ordinating group would be working to promote.
Meat processors and exporters were also encouraged to look at what they could do to realise the gains outlined in the strategy, and to identify where it might be appropriate to work alongside others, Mr Falconer said.
One of the first actions for the strategy co-ordinating group will be to categorise the strategy recommendations and suggest which should be highlighted in the work agendas of the MIA and Beef and Lamb NZ, and where others will be required to also support the process.
The strategy will be the main focus this year of the annual round of farmer meetings Beef and Lamb undertakes in its six regional electorates.
