Meat exporters says 2024 has been a tough year for the industry - but positive signs are emerging.

A joint report from Beef & Lamb and the Meat Industry Association says global markets remain challenging, but there were green shoots which could see prices firm in 2025.

"Recent reductions in interest rates have also provided some relief for farmers," the Red Meat Report says.

It said export prices had been weak, though improvements were expected.

"Despite the weaker prices for our sheepmeat particularly, caused by China's economic headwinds and our products experiencing increased competition, we could see prices firm this coming year due to our significantly reduced supply," the report said.

"The North American market has been strong and this has helped support ongoing strong cattle prices."

The UK Free Trade Agreement had also provided opportunities for meat exporters, as well as recent trade agreements with the UAE and the Gulf Cooperation Council.

The sector was also monitoring developments in the United States following Donald Trump's campaign comments about increasing trade tariffs.

"We support the New Zealand government's 'wait and see' approach."

The report said the industry had been working constructively with the government on a number of policy issues including freshwater rules, biodiversity and resource management.

"We also welcome the government's recent announcement of measures to address the amount of productive sheep and beef farmland being lost to carbon farming."

-RNZ