USDA Market News New Zealand Meat Export Summary and Prices Tuesday, Jul 22, 2003
Beef: Prices for NZ manufacturing beef in U.S. continued to rise last week, finishing up 2-3c/lb. Bull now over 90c mark and many in industry believe it it heading to 100c/lb in next few months. Historically it rises 7c/lb from July to September. Prime cut prices have risen in Asia. Helped by stronger US$, market returns up 5-7c/kg. Veal market in U.S., which takes 80% of NZ veal from bobby calves is depressed with returns in NZ$ down 40% from 2002.
Lamb: Little change in market returns last week, with many European traders and consumers away on annual holidays. Australian sheep farmers who have been able to farm lambs through the drought are now getting record prices, with 18kg butcher lambs now worth over NZ$100, $25 MORE THAN IN NEW ZEALAND.