LONDON MEAT MARKET

Press, Volume XCI, Issue 27637, 19 April 1955, Page 17

LONDON MEAT MARKET

LAMB FRACTIONALLY FIRMER SECONDS COMMAND PREMIUM New Zealand lamb was in steady demand at fractionally firmer prices on the Smithfield market last week. Mutton was quiet, with prices unchanged. There were plentiful offerings of frozen beef, with hinds selliiig firm and fores weak. A point of interest about the lamb quetations was that second quality lambs sold a fraction above the prices paid for 361 b lambs of first quality. The following are the ruling prices at Smithfield, according to advice received by the .New Zealand Meat Producers’ Board from its London office, the prices for the previous week being appended:— N.Z. Mutton April 8 April 15 s. d. s: d. Crossbred Wether and/or Maiden Ewes—-

37 to 421 b ..16 16 Beef New Zealand chilled beef is quoted at 2s 5d to 2s 7d for ox hinds, and Is 4d to Is 5d for fores. New Zealand frozen beef, first quality, is quoted at Is 4d for hinds and Is Id for fores. Second quality frozen beef is quoted at Is 3d for hinds and Is for fores.

BRIGHT OUTLOOK FOR WOOL BETTER TONE IN YORKSHIRE SUSTAINED BUYING PREDICTED (N.Z. Press Association—Copyright) LONDON, April 18. There was a noticeably better tone in all sections ot the Bradford market last week, states the International Wool Secretariat’s special news service. Although the increased volume of business has not yet reached the proportions of a general buying movement, it appears that more consumers, both in Britain and abroad, have decided that they have little to gain by waiting for cheaper prices, and orders for both tops and yarns are being placed with greater freedom than in recent weeks. In some cases ordering had been deferred as long as possible and business must now be placed, if delivery is to be made .by the desired dates. Some firms who waited too long are finding it extremely difficult to obtain deliveries in the reasonably near future, for many topmakers have sold their output for the next three months and are having to refuse business of which earlier delivery is required.

It is probable that most wool so far bought by Bradford is already sold in the form of tops or yarns to be delivered as the wool comes forward. Bradford is believed to possess little wool not already sold in this way and this foreshadows sustained Yorkshire buying interest at the resumed Commonwealth sales.

OVERSEAS EXCHANGE RATES Latest telegraphic transfer rates as advised by the Bank of New South Wales are as follows:

COMPANY NEWS DIVIDENDS ANNOUNCED Bank of Adelaide.—lnterim dividend 5 per cent.—ex May 5.—(P.A.) National Bank of Australasia.—lnterim dividend 44 per cent.—ex May 11.—(P.A.) Mosgiel Wool.—lnterim dividend 4 per cent.—ex May 2.—(P.A.) ..... . Wilson Malt Extract.—Final dividend 2 per cent.—ex May 10.—(P.A.)

481b and under ..14 14 49 to 561b a 2 1 2 57 to 641b 0 11 0 11 65 to 721b Ewes— 0 9 0 9 481b and under .. 0 101 0 10} 49 to 561b 0 91 0 91 57 to 641b 0 71 0 7} 65 to 721b 0 62 0 62 N.Z. Lamb First Quality—Crossbred: 361b and under .. 1 11 1 Hi 37 to 421b 1 101 . 1 101 43 to 501b Second Quality— 1 71 1 7} Average about 311b First Quality—Downs: 1 Hi 2 0 361b and under .. 1 11 1 H} 37 to 421b 1 10} 1 10} 43 to 501b First Quality—Canterbury: 1 71 1 7} 361b and under .. 1 11 11} 37 to 421b 1 10} 1 10} 43 to 501b Second Quality1 7} 1 7} Average about 311b 1 Hi 2 0 Australian neuiers anu/or maiden awes— 401b and under .. 0 112 0 H} 41 to 481b 0 102 0 102 49 to 561b Ewes— 0 9} 0 9} 401b and under .. 0 10} 0 10} 41 to 481b 0 92 0 92 First Quality Australian Lambs— 29 to 361b 1 8 1 8 37 to 421b 1 6 1 6 43 to 501b 1 41 1 4} Second Quality 281b and under .. 1 9 1 9} 29 to 361b ' 1 7 1 7 Argentine Lambs (first quality)— 361b and under 1 8 1 8

Buying. Selling London— N.Z. to £100 stg. .. 100/7/6 101 New York— Doi. to £1 N.Z. .. 2.7939 2.7622 Montreal— Doi. to £1 N.Z. .. 2.7552 2.7196 Australia— £A to £100 N.Z. 124/10/9 124 Fiji— £F to £100 N.Z. .. 111/11/9 110/4/3 Western Samoa— £S to £100 N.Z. .. — 100 South Africa— £N.Z. to £100 S.A. 99/14/0 101/5/6 Belgium— Francs to £1 N.Z. 142.02 137.53 Denmark— Kroner to £1 N.Z. 19.64 18.96 France (Metropolitan)— Francs to £1 N.Z. 992 964 Holland— Kroner to £1 N.Z. 10.73 10.47 Norway— Kroner to £1 N.Z. 20.24 19.58 Sweden— Kroner to £1 N.Z. 14.64 14.31 Switzerland— Francs to £1 N.Z. 12.29 12.05 Ceylon— N.Z. pence to rup. 17 29-32 182 Hong Kong— N.Z. pence to dol. 14 45-64 15 21-64 India— N.Z. pence to rup. 17 29-32 18 11-32 Pakistan—* N.Z. pence to rup. 251 26 25-64 Singapore— N.Z. pence to dol. 27 27-32 28 47-64 ManilaPesos to £1 N.Z. .. — 5.48 Paoeete and Noumea— Francs to £1 N.Z. — 171.82 Western GermanyMarks to £1 N.Z. 11.79 11.54