When LFTB was removed from retail outfits, the only way to replace it was with domestic fresh lean beef which has sent prices soaring. There wasn't as dramatic spike in demand from foodservice operators who use imported beef as many had already stopped using LFTB. Another factor that is dampening US imported prices is the volume of imported beef. US beef imports this year are up 18% or 45,514t from the same period last year. Australian imports accounted for 37,405t of the increase while imports from Mexico are up by 9,023t because of it's drought.
US retailers are chasing fresh domestic lean beef rather than frozen imported beef seeing many don't use imported beef in their formulations, partly because of labeling requirements.
Popular Reads
Serratia-linked Mastitis a wake-up call for Waikato farmer
Waikato farmer Craig Clausen had an unpleasant experience after an outbreak of mastitis cases on farm, suspected to be caused…'Grand Alliance' growing grass-fed beef exports to China
Alliance Group and Grand Farm have signed a strategic co-operation agreement with a focus on delivering more premium New Zealand…Rural Support Trust dinner raises $300,000
A fundraiser dinner held in conjunction with Fieldays raised over $300,000 for the Rural Support Trust.Halter raises $165m, company valued at $1.65b
New Zealand tech company Halter has raised $165 million from investors in its latest fundraising round.Featured
Big return on a small investment
Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.
$150B farm succession challenge looms for NZ agriculture
Within the next 10 years, New Zealand agriculture will need to manage its largest-ever intergenerational transfer of wealth, conservatively valued at $150 billion in farming assets.
Meyer Cheese invests $3.5 million in state-of-the-art Waikato facility
Boutique Waikato cheese producer Meyer Cheese is investing in a new $3.5 million facility, designed to boost capacity and enhance the company's sustainability credentials.
Editorial: Sensible move
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
DairyNZ and Beef + Lamb NZ wrap up M. bovis compensation support after $161M in claims
Compensation assistance for farmers impacted by Mycoplama bovis is being wound up.
Farmers win as government scraps proposed Fringe Benefit Tax on utes
Selecting the reverse gear quicker than a lovestruck boyfriend who has met the in-laws for the first time, the Coalition Government has confirmed that the proposal to amend Fringe Benefit Tax (FBT) charged against farm utes has been canned.
» Latest Print Issues Online
The Hound
Overbearing?
OPINION: Dust ups between rural media and PR types aren't unheard of but also aren't common, given part of the…
Foot-in-mouth
OPINION: The Hound hears from his canine pals in Southland that an individual's derogatory remarks on social media have left…