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USDA Market News - New Zealand Meat Export Summary and Prices

Beef: U.S. beef prices rose strongly last week, driven by increased retail demand, no Canadian cow meat imports and limited supplies from NZ (quota & seasonal reasons). Bull climbed 5c to 115c/lb, and imported cow meat up 4c/lb.

Some U.S. analysts believe these higher prices will hold for some months because U.S. dairy cow cull may be limited due to record herd liquidation in 1st half 2003 and better milk payouts. Despite solid meat price rises, Agri-Fax market indicators were unchanged this week, courtesy of stronger Kiwi$.

Lamb: No information this session.

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