Federated Farmers says a lot is riding on the meat industry's agreement to develop a strategy that will give it a more profitable future.
The Meat Industry Association and Beef + Lamb New Zealand have hired Deloittes to co-ordinate an analysis of industry issues and opportunities, with the aim of putting some practical solutions into effect from next year.
Federated Farmers says it could be the last shot for an industry that's been criticised for its low returns and resistence to change.
With more land being converted to dairying and forestry, meat and fibre chairman Bruce Willis says farmers need convincing that there's still a future in sheep and beef.
But he thinks that now at least there is a general consensus among farmers and processors that the industry is broken and needs to be fixed.
Mr Willis says a good strategy is a good starting point as current profitability is just not good enough.