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USDA Market News - New Zealand Meat Export Summary and Prices

Beef: Prices across the U.S. beef complex soared this week as limited supplies from U.S. feedlots, Canada, Australia and New Zealand did not satisfy buyers. U.S. domestic manu- facturing beef up 22% to 134c/lb, fatty trimmings (50% lean) up 28% for the week, as imported beef rose 6c with bull 122c/lb. Prices of cuts lifted over the week, in U.S. and Asia on solid demand. Overall, Agri-Fax market indicators lifted by 15c/kg due to beef rises and weaker Kiwi.

Lamb: Weaker NZ dollar last week with a number of frozen cuts edging up and satisfactory chilled prices, saw market indicator prices lift 3c/kg. Prices for old season lamb for coming week steady in South Island and up 5c/kg on average in North Island. While there are few new season lambs yet available, competition has meant prices up to $5/kg are being quoted, especially in North Island.

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