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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.
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