New Zealand Livestock and Wool Market Summary

WASHINGTON - May 6/02 - STAT -- The latest weekly summary of New Zealand's beef, lamb and wool markets was released by the USDA today.

Discussing beef markets, the USDA reports US imported beef prices are lower again this week.

Cow price levels are below 100 cents per pound and is at its lowest level in eight months.

Unless there is high Memorial Weekend consumption gives the market a boost, this downward slide could be hard to break. Golden week in Japan and May Day holidays in the rest of Asia have added to the pressure caused by a sharp rise in Australian production.

North Island cow kill has peaked early as a result of some dairy farmers electing to keep milking cows that failed to get in calf this season after a harsh winter.

Weaker New Zealand dollar and lower stock numbers on offer resulted in strengthening the North Island farmgate prices.

Looking at lamb markets, the USDA reports A weaker Kiwi helped market returns in New Zealand dollar terms as well as lower production boosted spot procurement premiums even though several official schedules were unchanged.

The lack of demand for legs in the UK is not unusual for this time of year, and significant quantities of legs are carred over to Northern Hemisphere.

Beef $/CWT                       Week Ending       Previous Week
                                  04-May-02          27-Apr-02
P2 Steer   542-595 lbs                71.21              71.67
(4-7 mm)   595-650 lbs                71.21              71.67
(Fat)      650-705 lbs                71.21              71.67
           705-761 lbs                71.21              71.67
M Cow      375-430 lbs                58.06              57.61
(0-1 mm)   430-485 lbs                58.06              57.61
           485-540 lbs                58.06              57.61
Bull       595-650 lbs                69.85              69.85
Lamb  ($/Head)      Fat Cover
                          (mm)
           24 lbs          0-6        15.39              15.57
           33 lbs          7-12       27.73              27.84
           46 lbs          7-12       36.62              36.80
Pelt       1 lb                        1.35               1.37
Ewe  ($/Head)
           46 lbs                     21.71              21.90
Wool  (c/cwt clean)    (microns)
           Fine            21        245.85             249.48
           Medium          25        230.88             233.60
           Coarse          35        106.14             107.96
New Zealand Export Slaughter RateWeek Ending       Week Ending
                                  20-Apr-02          13-Apr-02
                    Beef:            61,000             70,000
                    Lamb:           711,000            910,000
                    Mutton:          53,000             68,000
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: Agri-Fax, New Zealand, www.agri-fax.co.nz
 

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