Washington, DC - Thu, May 08, 2008 - USDA Market News
New Zealand Meat and Wool Export Summary and Prices
BEEF: According to NZX Agrifax, the U.S. imported beef market continues in
short supply due to very low shipments from Uruguay and the limited supply
from Australia & New Zealand. The U.S. is coming into the grilling season,
and the fact New Zealand has a tight supply situation going forward, the
importers are bidding prices higher, desperate to secure enough beef.
Inquiries from Korea have stagnated as they wait and see what prices they
can obtain from the U.S., since the Korean market will open to all U.S. beef
from mid-May. The lower NZD and a substantial increase in meat returns saw
the theoretical price for beef increase by 8-13c/kg.
LAMB: World demand for NZ lamb cuts continues to thrive, especially from
European markets. NZ leg prices exported to the EU continue firm and these
prices have not been at these levels since 2005. Long term outlook remains
good in European markets as sheep flocks continue to shrink. The weakening
of the NZD against the USD and Sterling, in combination with strong meat
returns, more than offset lower slipe wool returns and a drop in pelt quality.
This resulted in a lift in the NZX Agrifax Market Indicators by app. NZ3c/kg.
Beef $/CWT Week Ending Week Ending
03-May-08 26-Apr-08
P2 Steer 542-595 lbs 112.04 110.68
(4-7 mm) 595-650 lbs 116.12 114.76
(Fat) 650-705 lbs 117.03 115.67
705-761 lbs 117.94 116.57
M Cow 375-430 lbs 74.84 74.39
(0-1 mm) 430-485 lbs 76.66 76.20
485-540 lbs 79.38 78.93
Bull 595-650 lbs 107.05 106.60
Lamb ($/Head) Fat Cover
(mm)
24 lbs 0-6 20.68 20.64
33 lbs 7-12 40.67 40.87
46 lbs 7-12 55.97 56.25
Pelt 1 lb 1.67 1.71
Ewe ($/Head)
46 lbs 26.37 26.10
Wool (c/cwt clean) (microns)
Fine 21 394.63 424.57
Medium 25 295.29 310.71
Coarse 35 131.09 132.00
Notes: All prices are U.S. Dollars.
All meat prices are carcass based and net to farmers.
Lamb values include a 1 kg shorn pelt.
Ewe values at 0.5 kg pelt.
Source: NZX AgriFax Limited, New Zealand
202-720-8054
www.http://www.ams.usda.gov/LSMarketNews
13:26 jab
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