The number of lambs sent to export is expected to be the lowest in 30 years because of September's storms.
While Southland farmers were hit the hardest, nationally the storm was responsible for 2.7 million fewer lambs being tailed this season.
However, Beef + Lamb New Zealand's Economic Service says this will push prices up.
Director Rob Davison says the figures are about the same as last year's export earnings.
The economic service predicts meat companies will have almost 1.5 million fewer lambs to process this season.
Thisis expected to put further pressure on the meat processing industry which is already struggling with declining stock numbers and too much processing capacity.