[4 October/ Stuff]

Beef + Lamb New Zealand’s New Season Outlook 2017-18 forecasted farm profits before tax to increase by 6.6 percent to an average of $90,200 per farmer as red meat prices rose. Beef + Lamb New Zealand Chief Economist, Andrew Burtt said strong improvements were expected in revenue from deer and velvet as production increased. Mr Burtt explained that much of the outlook depended on the value of the dollar, as 70 percent of meat exports were sold in USD transactions. Mr Burtt added that the dollar was expected to ease as major trading economies strengthened in 2017-18.