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June 2010
The US market has entered quiet, uneventful stage, caused by a volatile currency and uncertain economic times.
However the lower volume of product entering the US from Oceania is helping keep the pressure on price levels.
This has been seen in Manufacturing cow and bull schedules which broke yearly highs again.
Key US holidays are a traditional time for consumers to eat beef, and the weather also can be a big driver for consumption over this period. Competition from pork and chicken is strong in the burger trade.
The FMD outbreak in Japan continues to spread and concerns are that at some stage it may affect beef consuption.
The Trend this week rose for Bull (345c) and for Prime grades (360c) . Values are ahead at the same stage last year for bulls +26 and for Prime steers +17c. The exchange rate has risen this week to .68c against the US$ .
Local trade schedule prices have followed ahead of export schedules at between 360-400c/kg. They are now 30-40c/kg ahead of last year and are climbing.
Prime steers at the saleyards are rising in value with strong sales at NI saleyards this week breaking through the $2.00/kg barrier.
Calf sales are now finished, with South islands heifers calves (150-250kg) averaging 180c/kg but North islands averaging 211c/kgLwt. Steer calves in the SI in the same weight range averaged 212c/kg with the Norths dearer at 247c/kg lwt.
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