SMITHFIELD MARKET

Press, Volume CXVI, Issue 34097, 8 March 1976, Page 20

SMITHFIELD MARKET

x T JL JL Jt.JB.JB. • Quiet trading conditions prevailed for most commodiI ties on Smithfield last week. I reports the London office of j the New Zealand Meat Proi ducers Board. Prices for I homekilled meats were again | under pressure as a result of ■strong consumer resistance Ito current retail prices, particularly for beef and pork. However, values for New Zealand lamb consolidated lon earlier week's levels, and trade was steady . p.L. 33.* 34 0 B-7S p.M 30.0-31.5 -r0.25 PH 28.5-29.5 n< Y I 33.0-34.0 ••..< Y.M 32.0- —0 50 Oqerings of—New Zealand lamb cuts cleared steadily at the following quotations:— Legs . 47.0-48 0 n.c. Long loins . . 35.0-36 0 —0.50 Short fores 24.0-25.5 -0.25 Manufacturing beef The board's New York office reports that New Zealand cow beef for immediate delivery is now selling in the United States at 68 cents per lb, c.i.f. and for Aprib arrival at 70-72 cents These price levels follow the very active, often speculative. buying of the previous week when importers paid various prices in the mid 70’s (cents per lb. c.i.f) for imported cow beef arriving April/May. The latest week has been quieter as traders tried to push imported beef i

. prices up to the levels that had been paid and end-users . resisted — with domestic meat barely steady. By Thursday prices for United States prime and manufacturing type beef carcases showed some improvement from their weakish price levels, giving a little strength to the imported beef market .Mutton The board's Tokyo office states that, except for an unconfirmed report of a sale I'H'ifi tonne, at 34 I. S. cents per lb. c and f. New Zealand’s carcase mutton trade to Jaoan has been practically at a standstill New (Zealand offers at 34-35 L S. cents per lb. c and f. for early shipment, and 35-36 U.S. cents per lb. for later delivery are being resisted by Japanese buyers who have been filling immediate requirements with Australian product. Small quantities of Australian carcase mutton are being quoted at 30-31 U.S. cents per lb. up to July shipment, with immediate business near the lower figure. Australian boneless mutton has moved up quite sharply, with offers around 51-52 I > cents per lb. c and f. but others as high as 55-57 U.S. cents per lb.