Currency market turmoil should be helping buyers and suppliers alike in the imported lamb trade, although industry insiders usually warn against reading too much into short-term exchange rate movements because major players tend to hedge their exposure. New Zealand's tumbling dollar has caused consternation in parts of the sheepmeat and beef trades, recently skidding beyond $3.40 against sterling before staggering back into the low 30s. Kiwi agricultural producers are certainly enjoying the ride, but their supply boosting reactions appear likely to be concentrated in the beef and dairy sectors rather than in sheepmeat. For UK buyers, further problems are caused by the weakness of sterling and the euro against the US dollar, meaning the sellers of some New Zealand meat can find better returns outside the European Union. {{MEAT }}

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