High lamb slaughter earlier this year is likely to result in the season finishing earlier than usual, according to the latest Rabobank Agribusiness Review.

Although the cost of lamb started its seasonal increase over the past month, the number of lambs processed has plummeted in recent weeks due to higher slaughter rates earlier in the season.

Export volumes have been affected by earlier processing with April sales increasing by 5.3% compared to April last year.

A drop in production may be keeping meat prices steady, but a new report from rural lender Rabobank suggests New Zealand farmers risk missing out when demand increases again.

In its Global Focus New Zealand Meat report, Rabobank said that New Zealand was one of the few countries potentially able to satisfy the world’s growing appetite for high-quality meat.

Better prices for beef, lamb and wool combined with a depreciating currency should mean profits at long last for farmers next season, Meat & Wool New Zealand's new season outlook 2008-2009 predicts.

 Meat & Wool New Zealand Economic Service executive director Rob Davison says profit per farm should jump significantly from an average of $19,400 (2007-2008) to $53,000 (2008-2009). Conditions will get even better if the New Zealand dollar continues its expected downward trend against all major currencies.

A suspension of New Zealand meat imports into Indonesia has been lifted following a meeting between Trade Minister Phil Goff and trade officials today.

Agricultural officials in Indonesia last Monday temporarily banned beef imports from New Zealand, a $100 million trade, due to halal certification issues.

Indonesia, the world's most populous Muslim nation, required imported beef products to be certified as meeting Islamic halal standards.

A meat industry lobbyist has warned farmers they are embarking on yet another boom-and-bust cycle -- with potential for $100 lambs.

"June was one of the more positive months in farming in the past three years," said the retiring chairman of Federated Farmers' meat and wool arm, Keith Kelly, of Auckland. "There is light at the end of the tunnel in some areas".

Meat returns appeared to have turned the corner, with future prices for lamb and beef along with other red meats on the rise," he told an annual federation conference in Christchurch yesterday.