NZ$ rise squeezes margins Upward pressure on prices and a squeeze on some traders' margins in the imported lamb market followed a sharp rise in the value of the New Zealand dollar. The rate of about NZ$3.08 against sterling early in the week was 15% stronger than at the beginning of the New Zealanders' meat export marketing season in October, when their currency had been hit hard by the global political and economic crisis due to the events of September 11. The uptrend has been caused in part by the booming economy and currency strength of neighbouring Australia, also of relevance to the UK sheepmeat market because Australian lamb shipments to this country have been quietly increasing in the past couple of years. {{MEAT }}

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