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USDA Market News - New Zealand Meat Export Summary and Prices

Beef: Prices for imported manufacturing beef improved 2-3c/lb last week, with bull now nearly 120c/lb. This is 28% up from a year ago. With continued low production in NZ (10% seasonally lower than last year), U.S. beef cow slaughter down on year ago for 3rd successive week. U.S. beef supplies expected to tighten soon and should help keep prices up. No NZ beef is being sent to Canada currently due to poor prices. Prices for cuts in U.S. and Asia continue to rise, with exporters unable to supply many new orders. Primal cuts have rose 27% over the last year, but in NZ$ terms are unchanged.

Lamb: Current worldwide shortage of lamb continues to drive many prices slowly higher. 2% weaker Euro and poor slipe wool prices more than offset last weeks meat price rises. New season prices available from most companies, with prices averaging 470-480c/kg, or about $2/kg lw. Prices for lambs over 14kg are up $2-3 per head compared to a year ago.

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