Jamie Mackay: The Country host on sheep and beef farm profits potentially plummeting this financial year - Heather du Plessis-Allan Drive

Beef + Lamb New Zealand’s mid-season update offers a grim warning for sheep and beef farmers.

The report claims farm profits could drop 54 percent to $62,600 on average this financial year, off the back of significant losses.

The Country's Jamie Mackay explains further.

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