Both beef and lamb will be in the $3 billion export club for the first time this season, according to Beef + Lamb New Zealand.
In its mid-season update, the farmer-funded organisation says high lamb, mutton and beef prices have bumped up its earnings forecasts for the season.
Beef + Lamb chief economist Andrew Burtt told Rural Exchange that prices have stayed strong despite exchange rate increases, which signals a positive trend going forward.
Average on-farm profit for all classes of sheep and beef farms are up 40% in the past year, which shows we are well and truly in an upward swing.
There's always an uncertainty of what's coming next, Mr Burtt said, but farmers manage that volatility very well.
Listen to the full interview with Andrew Burtt above.