USDA Market News - New Zealand Meat Export Summary and PricesTuesday, Mar 11, 2003
Beef: U.S. imported & domestic manufacturing beef prices continue to rebound last week,but are 15% behind last year in U.S.$ terms and 35% lower in NZ$ terms. End-user demand is still slow. Asian demand and prices for a wide range of cuts continue to improve. Australia is not expected to run into quota problems for several years as their drought- ravaged beef herd is rebuilt.
Lamb: Overall, market demand is holding well considering that Easter shipping deadline has passed and production is very high. For the last week of February over one million lambs were processed, a figure rarely surpassed. Market returns and farmgate prices were generally unchanged.