In an analysis of the lamb market, Mr Parsons said the multibillion-dollar sector collectively invested a ‘‘pitiful amount'' into telling its story.
Beef + Lamb had nearly completed a market development review initiated late last year and, through a round of farmer meetings this winter, would test some options with farmers, he said.
Earlier this month, Federated Farmers meat and fibre chairman Rick Powdrell called for action to be taken to address problems marketing lamb overseas, particularly in the UK, to prevent sheep farmers continuing to face low returns.
Meals featuring lamb had fallen 7% in the UK, while lamb consumption in the US was rising at 10% per year.
Mr Powdrell recently returned from the American Sheep Industry Conference in Scottsdale, Arizona, where he had seen first-hand some of the initiatives that were underpinning that growth.
Falling consumption of lamb in the UK reflected the industry's failure to adapt to changing consumer tastes and the need for a whole-of-industry approach, he said.
Mr Powdrell called on meat industry leaders - industry bodies, meat companies and government agencies - to work together with Federated Farmers to develop a long-term sheep meat strategy.
Beef + Lamb was forecasting a lamb slaughter of 19.6 million to 20 million head for the year ending September 30, down 6%-8% on last season.
With lamb processing so advanced, and reasonable feed levels around much of the country, a shortage of lamb was looming.
Mr Parsons hoped this year improved lamb returns would lead to a correction in the sheep meat market.
While wool and beef prices have been above average, poor meat sheep pricing had been a ‘‘huge frustration'', he said.
In mid-January, New Zealand's lamb processing was 14% ahead of last season but, due to lighter carcasses, production was only 11% ahead.
Lower exchange rates had only mitigated a weaker market price rather than improving returns, as had been hoped, he said.
Prices for chilled product had remained consistent year-on-year but frozen product, which makes up 78% of New Zealand's total lamb exports, has been well down.
High inventory levels of frozen product in China caused frozen lamb prices to fall significantly in that market, and the oversupply had been exacerbated by the culling of China's domestic sheep flock.
The United Kingdom experienced a big lift in lamb production but, with the high pound sterling, less UK lamb crossed the Channel to the continent, meaning more locally produced meat appeared on UK supermarket shelves and in butcher shops.
Some UK lamb, which has traditionally been a fresh chilled product, had been frozen, further impacting on New Zealand frozen lamb returns.
On the positive side, Germany had been a strong performer in the EU, consuming more chilled New Zealand lamb. In the latest ASB New Zealand commodity price index, the sheep/beef index fell slightly in US dollar terms. The 1.3% rise in wool prices was not able to offset the 1.4% fall in lamb prices.
Commodity prices remained the greatest concern for New Zealand agribusiness, a recent survey conducted by Crowe Horwath during the Southern Field Days at Waimumu showed.
Respondents were most concerned about the negative impact of low commodity prices, along with regulation (both at a local and central government level), succession issues, climatic conditions and human resources.
