Wednesday, 23 May 2012 09:30

Weaker NZ dollar boosting beef returns

Written by Rural News Group

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While US imported beef prices have softened in recent weeks, the weaker NZ dollar has more than made up for this.

Overall returns from the US beef market for 95CL bull in NZ dollar terms are at the highest levels since early 2011. Given the volatility in the currency, exporters will be wary of the NZ dollar bouncing back over US80c. But it’s good to see a weaker NZ dollar finally starting to act as a pressure valve for falling commodity prices.

Market Brief by iFarm.co.nz

iFarm the leading source of agri-market prices, information and analysis for NZ farmers. Receive benchmark prices for the works, store and saleyard markets delivered direct to your inbox. Visit www.ifarm.co.nz or call 0508 873 283.

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