Global uncertainty remains heightened, making it difficult to forecast returns for the season ahead. Generally commodity prices are holding up better than expected in the current environment. Meat prices are expected to come under more pressure as larger volumes of stock are processed.
Disruption to normal supply patterns has now resulted in congestion in shipping as buyers panic about restocking shelves with consumer items. This is resulting in congestion at ports and reduced access to shipping containers due to longer turnaround times. Congestion at our local ports is not helping either.
Despite the uncertain times, demand for NZ export goods remains steady, but returns this season will not be exceptional for any industry.