New Zealand Livestock and Wool Market Summary

WASHINGTON - May 20/02 - 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 Although the U.S. domestic manufacturing beef price surged 9 cents per pound last week due to a flurry of last minute buying for Memorial weekend, there was little discernible effect on the imported beef price.

A 4th case of BSE in Japan has had no impact so far.

It appears that Asutralia has sorted out a workable U.S. quota system, albeit with half the year gone. This should give a more even flow of product to the U.S. market but with some exporters likely to have used up much of their quota already, it may increase pressure on other markets

Looking at lamb markets, the USDA reports Although exporter sentiment remains mixed, overall it does appear that market sentiment has turned and with it has come the prospect of some solid price increases in coming weeks. The rapid and premeture drop in New Zealand production has caught the attention of traders in the EU and they are now very active, seeking quantities in excess of their immediate needs.

Beef $/CWT                       Week Ending       Previous Week
                                  18-May-02          11-May-02
P2 Steer   542-595 lbs                73.48              72.12
(4-7 mm)   595-650 lbs                73.48              72.12
(Fat)      650-705 lbs                73.48              72.12
           705-761 lbs                73.48              72.12
M Cow      375-430 lbs                59.87              58.97
(0-1 mm)   430-485 lbs                59.87              58.97
           485-540 lbs                59.87              58.97
Bull       595-650 lbs                72.12              70.76
Lamb  ($/Head)      Fat Cover
                          (mm)
           24 lbs          0-6        16.06              15.73
           33 lbs          7-12       29.12              28.55
           46 lbs          7-12       38.26              37.48
Pelt       1 lb                        1.38               1.36
Ewe  ($/Head)
           46 lbs                     22.97              22.61
Wool  (c/cwt clean)    (microns)
           Fine            21        237.23             238.14
           Medium          25        214.55             210.47
           Coarse          35        111.13             109.32
New Zealand Export Slaughter RateWeek Ending       Week Ending
                                  04-May-02          27-Apr-02
                    Beef:            68,000             70,000
                    Lamb:           557,000            638,000
                    Mutton:          46,000             58,000
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