Beef and Lamb New Zealand chairman Mike Petersen is urging farmers and meat companies to work closely together to plan ahead for next season.
While many were asking why pricing for lamb in particular had fallen so dramatically from the start of the season, the 2010-11 season had consistently been talked about as one that was unlikely to be repeated.
"Our message has been to expect a return to a more normal pattern of pricing, which has certainly happened, although the drop-off has been larger than we would have liked," Mr Petersen said.
The acknowledgement by meat companies that, in hindsight, the early season pricing did not reflect market returns reinforced the need for farmers and companies to work closer together to get greater transparency in pricing, and allow long-term market-related commitments to grow, he said.
The red meat sector strategy, launched last year, was very strong on encouraging that approach, he said.
The Beef and Lamb economic service's predictions of average lamb pricing for the season on an all-grades all-season weighted price of around $115 looked like being close to reality.
There was no doubt the economic crisis in Europe was affecting volume sales and returns in New Zealand.
However, retail pricing in the United Kingdom remained high and in mid-May was between 20% and 37% above the prices reported in April 2010, he said.
Rabobank's latest agribusiness review showed farm-gate prices remained lacklustre through May. Markets were down 2% on April and 17% behind last season's returns.
Export volumes in April reached 33,000 tonnes, a drop of 20% year-on-year.
Demand in key markets remained solid, with the UK and China both importing 7000 tonnes.
In Australia, lamb prices continued their steady decline throughout May, struggling under larger market volumes despite the lower Australian dollar helping to encourage export demand.
