Silver Fern Farms says trading in its first quarter is right on target.
Speaking after the meat co-operative's annual meeting on Wednesday, new chairman Rob Hewett said he's happy with trading so far and in terms of where the budget has been set it's right on target.
He says the first and last three months of the meat cycle are always challenging and the money is made during the six months in the middle.
Last month, Silver Fern Farms reported a narrowed annual net loss of $28.6 million, down from a loss of $31.1 million the previous year.
Mr Hewett says the co-operative is trying to move away from selling commodity products so that it isn't so much at the mercy of the market.
The company is also trying to pay down debt - at 30 September, Silver Fern Farm's equity was just 35.5% of total assets, down from 39.6% a year earlier.
Mr Hewett says Silver Fern Farms is looking at all options, including raising new equity.
The co-operative is also looking at selling assets to improve its balance sheet.
