Published in Market Analysis
New Zealand's Meat Exports Just Broke Their Own Record, Again
New Zealand's red meat exports hit a record $1.6 billion in May, as US and Chinese buyers pushed beef and lamb prices to new highs.
Martina Osmak
Director of Marketing
New Zealand's red meat sector is having an extraordinary run. For the second month in a row, exports of beef, lamb and mutton set an all time high, and buyers around the world are paying record prices to secure supply.
A Second Record Month in a Row
New Zealand's red meat exports reached $1.6 billion in May, according to the Meat Industry Association (MIA). That is 44% higher than May last year and beats the previous record of $1.4 billion, set only one month earlier in April.
MIA chief executive Nick Beeby called the result extraordinary. April had already delivered record export values for both beef and sheepmeat, but May went further still.
The gains were not just about price. Processing volumes picked up sharply after a slow start to the year, giving exporters more product to sell into strong global demand.
Beef Leads the Charge
Beef was the standout performer. Exports were worth $771 million in May, up $163 million on April's record and 51% higher than a year earlier. Export volumes hit a record monthly total of 57,899 tonnes, 26% more than in May 2025.
Two markets drove most of the growth:
The United States: volumes rose 59% to 28,198 tonnes, while export value jumped 88% to a record $413 million.
China: volumes rose 29% to 14,612 tonnes, with value up 47% to $129 million.
Average beef export values reached $13.32 per kilogram, just below April's record. Sales to China averaged $8.86 per kilogram, the highest level in almost four years.
Sheepmeat Sets Its Own Records
Sheepmeat also had a record month. Exports were worth $590.4 million, up 33% from May last year and almost $17 million above April's record. Export volumes rose 17% year on year to 39,472 tonnes.
Average sheepmeat prices hit new highs in several key markets:
United States: $23.56 per kilogram
European Union: $23.09 per kilogram
United Kingdom: $16.73 per kilogram
China: $8.77 per kilogram, the highest level in four years
For European buyers, this points to continued tight supply and firm pricing on New Zealand lamb, at a time when EU sheepmeat production is also under pressure.
Gulf Demand Starts to Recover
Exports to the Gulf Co-operation Council (GCC) region were still down 16% by volume and 26% by value compared with May last year, reflecting earlier disruption linked to the Middle East conflict. But the gap is closing. Against the five year May average, GCC volumes were only 2% lower and value was 9% lower, a clear sign of recovery.
What's Behind the Surge
The jump in exports follows a rebound in processing. In the first quarter of the year, New Zealand produced nearly 18,000 tonnes less beef and 10,000 tonnes less sheepmeat than in the same period the year before.
That reversed quickly. April and May production came in about 26,000 tonnes higher for beef and more than 11,000 tonnes higher for sheepmeat than the same two months last year, giving exporters far more volume to work with just as international prices climbed.
A Bigger Trade Story
The meat boom is also showing up in New Zealand's national trade figures. According to Stats NZ, total goods exports reached $8.9 billion in May, up 18% on the same month last year, helping the country post an $800 million monthly trade surplus.
Meat and edible offal exports climbed $436 million, or 43%, compared with May 2025, an unusually large increase even by the standards of a strong season. China alone bought $70 million more New Zealand meat than a year earlier, the single biggest contributor to a broader $196 million rise in exports to that market.
Over the year to May, New Zealand's annual goods trade deficit narrowed to $3.4 billion, down from $4.0 billion a year earlier, with strong meat and dairy prices doing much of the work.
What This Means for Buyers and Traders
For international buyers, the message is clear: competition for New Zealand beef and lamb is intensifying, particularly from the US and China, and prices are unlikely to ease soon. European importers already dealing with tight domestic beef and lamb supply may find New Zealand product harder to secure at last year's prices.
Traders should watch a few things closely in the coming months:
Whether New Zealand's processing volumes stay elevated or fall back after this catch up period.
How much further Gulf demand recovers as the Middle East disruption fades.
Whether Chinese buying keeps pace, given it is already at a multi year high for both beef and lamb pricing.