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New Zealand Livestock and Wool Market Summary
WASHINGTON - May 28/02 - 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 Last week manufacturing beef exported from New Zealand to US trade activity was light and price levels were slightly lower.
However, trading was moderate to active in the Canadian and Asian markets where prices fell by up to 6 cents per pound for some cuts.
The reason was due to many Australian exporters realised their US quota at 10% lower price levels than US domestic market prices.
The climbing Kiwi dollar was not helpful to New Zealand farmers this last week reducing their returns. All exporters in both Islands followed the market decline and most reduced prices.
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