A number of external factors had a positive effect on the New Zealand sheep meat industry in the 2004/2005 meat processing year: growing demand for lamb in Europe and North America; less competition from the UK as producers continued to rebuild theirflocks; the drought in Australia adversely affecting production there; the high value of the New Zealand dollar. Although in the medium term New Zealand's output is forecast to rise steadily year-on-year, in 2005/2006 a small fall in production is anticipated reflecting this year's reduced lamb crop.
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