This paper focuses on improving the sensory, health attributes and meat yield of beef and lamb meats. Value for meat is defined as the weight of meat × price/kg received with price linked to eating quality. To maximise value across the supply chain, accurate carcass grading systems for eating quality and yield are paramount. Grading data can then be used to target consumers' needs at given price points and then to tailor appropriate production and genetic directions. Both the grading methodologies and key phenotypes are complex and still under intensive research with international collaboration to maximise opportunities. In addition, there is value in promoting the health aspects of red meats served as whole trimmed meats. Typically, the total fat content is relatively low (less than 5%) and for forage systems, they deliver a very significant content of long-chain n-3 fatty acids. Further research is needed to clarify the healthiness or otherwise of ground beef served as burgers given the fat content is typically 20% or more. It is important to continue to improve the feedback to producers regarding the quantity and quality of the products they produce to target new value opportunities in a transparent and quantitative manner.