LAMB DOWN AGAIN

Press, Volume C, Issue 29680, 25 November 1961, Page 10

LAMB DOWN AGAIN

Light Weights Affected Meat operators have dropped their prices tor lambs killing out at up to 361 b. From Monday in the South Island they will be paying Id per pound less for prime and second quality lambs up to 281 b, and a id per pound less for prime and second quality lambs weighing between 29 and 361 b. The prices for all other weights of lambs are unchanged. The latest reductions in operators’ prices are on top of the general decline of Ijd per pound which came into operation at the beginning of this week. However, the new schedule, which comes into operation on Monday, may earn a deficiency payment out of the meat industry reserve account, which at present stands at about £44m. The secretary of the Meat Export Prices Committee. Mr L. Vogtherr, said last evening that the committee would be considering the matter on Monday. He was not in a position to give any idea of the extent of any payment, or whether one would even be made, but it is understood that if one is made it is likely to be id or 3/Bd. If a payment is made it will be the first on lamb since the week ended December 5. 1959. In that season deficiency payments on lamb amounted to" £377,562. Closing Gap The latest adjustment In operators’ schedules is understood to represent a "closing in the gap between the la*' of supply and demand.” Under drought conditions in Canterbury many lines of lambs are being killed at under 281 b and it is likely that they will be in very plentiful supply in the London market early next year. According to a represents tive of the meat industry in Christchurch the outlook on the United Kingdom market for about the time the lambs now being killed will be marketed is even worse than the new schedule suggests. The following are details of the new schedule (excluding any deficiency payment):— Prime— <j. per lb 20 to 281 b .. ..16 29 to 361 b .. ..141 37 to 421 b .. .. nJ 43 to 501 b .. ~ 9j 51 to 561 b .. .. si Second Quality20 to 281 b .. .. 15 29 to 361 b .. ..13) Over 361 b .. .. 10J