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USDA Market News - New Zealand Meat Export Summary and Prices

Beef: Resurgence in U.S. imported manufacturing beef prices kicked on again last week with cow and bull up 5 & 3c/lb respectively. Bull has broken back thru 100c/lb barrier for 1st time since early January. Australian production continues to fall and Canada remains shut out of U.S. market completely. U.S. beef market has under performed for almost a year, but improvement seen in last 6 weeks has every chance of sustained improvement. Despite the improvement in market returns, response from NZ processors was cautious.

Lamb: Market prices unchanged, but continuing heat wave in Europe has done nothing to stimulate lamb consumption. Exporters report good levels of interest for delivery later in year to coincide with cooler months when demand for legs picks up as lamb roasts return to favor. Lamb carcass weights set to eclipse last year's record level and perhaps break 17kg barrier for the 1st time.

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