NZ export beef benchmark rises 5.1%, reflecting short-term US demand pressures

Mon, 23 Jan 2017

By Jonathan Underhill Jan. 24 (BusinessDesk) - A benchmark for New Zealand beef exports rose 5.1 percent last week although increasing US domestic production is likely to cap the gains, according to analysts at NZX Agri. The US price for 95CL (bull) beef, the raw ingredient for burger patties, rose to US$2.07 a pound from US$1.97/lb in the previous week and up from about US$1.92/lb at the same time a year ago. The price is still about 10 cents/lb below its five-year average. "The US beef market is still under pressure from increasing d...

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