Sheep meat exports surged in February and an ''extraordinary'' jump in shipments to China drove that growth.
The latest Rabobank agribusiness monthly report showed total exports increased 27% year-on-year, reaching 45,387 tonnes swt. Large numbers of stock were offloaded due to the widespread dry conditions.
Chinese shipments were just below 17,000 tonnes for the month, which was more than 10,000 tonnes higher than the same time last year.
There was also a record monthly shipment of beef to China, up from 194 tonnes in February 2012 to 4802 tonnes in February this year, while Australian beef exports to China, at 12,320, also set a new monthly record.
New Zealand sheep meat exports to the UK improved 8% on February last year, at 8655 tonnes, although total EU shipments were back 9%.
After months in decline, South Island lamb prices steadied in March and in the first week of April, averaging 431c kg, although still 25% below the same week last year.
Since October to February, lamb slaughter was 13% or 1.1 million head higher than last year, totalling 10.1 million head, but looking at February numbers, slaughter was steady in comparison to last year.
Beef slaughter continued to run well above year-ago levels, as hot and dry conditions persisted.
For the processing season to date (October to February), total beef slaughter (987,474 head) is up 20% on the same period last year. A surge in cow slaughter (279,607 head) has underpinned the rise - 58% or 100,000 head higher than last year, although against a low base last year.
With the higher turn-off, exports had moved higher and shipments in February were up 10% year-on-year, to 40,769 tonnes swt. Exports to the US (20,807 tonnes swt) were also up 10%.
New Zealand fine and coarse crossbred wool prices held firm over the last month. Fine crossbred prices gained 1% over the month and were trading at around 490c/kg, down 13% year-on-year, while coarse crossbred prices were trading at 396c/kg, down 20% year-on-year.
