WA_LS666
Washington, DC     Thu, Jul 03, 2008     USDA Market News

New Zealand Meat and Wool Export Summary and Prices

BEEF:  According to NZX Agrifax, markets such as Russia & Europe have become
more attractive to export beef than to the U.S.  Hence, limited supply to
the U.S. resulted in U.S. imported cow & bull prices rising US5c/lb last week.
Korea resumed quarantine checks on U.S. beef which has been sitting at the
port since October last year.  NZX Agrifax Market Indicators for beef
strengthened this week by 12c/kg for bull, 13c/kg for cow, and 10c/kg for
prime beef.


LAMB:  Low value lamb cuts in high demand and prices now at historical
levels.  High value lamb cuts being priced out of the market, as consumers
resist the increased prices.  The NZD took a tumble last week and combined
with higher overseas prices, left the NZX Agrifax Market Indicator up 10c/kg.
NZ lamb supply has just about come to an end for the season.  Large numbers
of ewes continue to be slaughtered for this time of year, which will drop
lamb numbers even further for next season.
Beef $/CWT                                    Week Ending      Week Ending
                                                28-Jun-08         21-Jun-08
P2 Steer    542-595 lbs                            125.19           118.84
(4-7 mm)    595-650 lbs                            129.28           122.92
(Fat)       650-705 lbs                            130.18           123.83
            705-761 lbs                            130.64           124.29

M Cow       375-430 lbs                             90.27            85.73
(0-1 mm)    430-485 lbs                             92.08            87.54
            485-540 lbs                             94.80            89.81

Bull        595-650 lbs                            121.11           115.67

Lamb  ($/Head)               Fat Cover
                                  (mm)
            24 lbs                0-6               25.41            23.97
            33 lbs                7-12              47.85            45.58
            46 lbs                7-12              66.13            62.94

Pelt        1 lb                                     1.59             1.61

Ewe  ($/Head)
            46 lbs                                  29.56            29.35

Wool  (c/cwt clean)           (microns)
            Fine                  21               381.93           353.81
            Medium                25               263.54           286.22
            Coarse                35               133.36           130.18


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

9:27        jab/jk
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