Local Saleyard Prices of Meat For W2 in New Zealand

The average export price trends for the week ending January 15, 2023, are shown below (W2):

W2 prices vs. (W50 prices):
Steer NI P2, 300kg - USD 3.72kg (NZD 5.80/kg) vs. (USD 3.98/kg (NZD 6.20/kg)) - 6% decrease,
Export Bull, USA - USD 5.19/kg (NZD 8.09/kg) vs. (USD 5.12/kg (NZD 7.98/kg)) +1% increase,
Lamb NI, 18kg - USD 4.59/kg (NZD 7.15/kg) vs. (USD 5.07/kg (NZD 7.90/kg)) - 9% decrease,
Export Lamb Flaps, China - USD 6.14/kg (NZD 9.57/kg) vs. (USD 6.26/kg) (NZD 9.76/kg)) - 2% decrease.

Overview: Prices are expected to stay under pressure as volumes increase due to good grazing conditions.
FYI: Steer = a male cattle beast castrated when young;
NI = North Island of New Zealand;
P = fatness, a light to medium fat cover, 3–10 mm deep;
2 = muscling class 2, good muscle development;
300kg = steer carcass weight;
18kg = lamb carcass weight.