USDA Market News - New Zealand Meat Export Summary and PricesThursday, Sep 4, 2003
Beef: Price increases in U.S. beef market slowed to only about 1c/lb, as market took breather and U.S. importers waited for Labor Day holiday to pass. Asian markets quite variable with some in holiday mode, some overstocked and some showing improved prices. Helped by weaker Kiwi dollar, Agri-Fax market indicators rose 6-8c/kg (farmgate basis). From September, Canada can export beef to U.S., but it must only be from plants processing under 30 month old animals. This means little competing manufacturing cow beef will come in.
Lamb: Last week's market price increase of $2/head made up equally by exchange rate changes and improving prices for NZ lamb cuts in Europe and U.S. markets. Exporters in both Islands had unchanged prices with prices for medium and heavy lambs remaining in 415-420c/kg net range. Mutton demand is increasing from Asia because of limited supplies from Australia.