U.S. beef price eases

Press, Volume CXIII, Issue 38186, 28 March 1973, Page 1

U.S. beef price eases

(N.Z.P.A. Staff Correspondent)

WASHINGTON, March 27.

The American beef market is showing signs of a price downturn in the wake of consumer resistance to high supermarket prices for beef cuts over the last two months.

Wholesale price quotations reflect a drop of 5c per lb to 87c per lb for cow beef and a fall of about 3c a lb to 92c for bull beef on quotations a week earlier.

And there are prospects that further falls in the price may come soon as the effects of organised consumer boycotts against beef are felt by major supermarket chains. The only price stiffening' factor that market analysts say on the marketing scene was the ban on meat exports in New Zealand because of the freezing works dispute (killing has resumed).

The United States Government is demanding all the imported meat it can get. Market authorities said that New Zealand lamb was in heavy demand and that the outlook for continuing high beef prices—though at| lower levels than the peaks of recent weeks —was good. !

Acting Minister. — The; ■ Minister of State Services! (Mr Tizard) will act as Minister of Labour while the; Deputy Prime Minister (Mr Watt) is overseas. Mr Watt’s Works and Development portfolio will be in the charge of ■ the Minister of Mines (Mr Colman) who will also look after Publicity. Mr Colman lis associate" Minister of ! Labour. —(P. A.)