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Since reaching peak numbers in 2016, the New Zealand national cattle herd has been gradually declining, and this is expected to continue in 2024.
Despite being a small country, New Zealand is a major exporter of food and beverage products, and many of these products are manufactured in-country requiring inputs imported from other suppliers. The United States is a key source of ingredients including pork, lactose, tree nuts, hops and other products. The United States also supplies ingredients for animal feed.