USDA Market News - New Zealand Meat Export Summary and PricesTuesday, Oct 7, 2003
Beef: After previous weeks' sharp fall in manufacturing beef prices, market steadied last week and by COB Friday had lifted 2-3c/lb with bull back to 111c/lb and cow at 102c/lb. SE Asian countries have been good markets for many cuts over recent months, aiding diversification. Overall, Agri-Fax market indicators rose 2-5c/kg, due to better prices for manufacturing meat, and cuts, and stable exchange rate during the week, with only negative being hides.
Lamb: Lamb prices on world markets should remain healthy over next year due to lower production (numbers down 6% over last year) and reduction in Australian exports due to drought, which curtailed future lamb sales markedly. Prices for old seasons' lamb in South Island remain unchanged for this week with 430-435c/kg being paid for weights over 14.5kg. North Island prices were also unchanged.