SMITHFIELD MARKET

Press, Volume CXVI, Issue 34131, 19 April 1976, Page 16

SMITHFIELD MARKET

Prices for New Zealand lamb on Smithfield improved again last week, and were even stronger in some regions outside London, reports the London office of the New Zealand Meat Producers’ Board. Prices for PM lamb (the main grade exported to the United Kingdom) have

improved by as much as 3 pence per lb during the past month. Quotations for New Zealand lamb were:—

(nominal) Offerings of New Zealand carton lamb cuts, which are currently in short supply, cleared at the following rates:— Legs .. .. 49.0-50.0 n.c. Long loins .. 36.0-37.0 n.c. Short fores .. 26.0-27.0 n.c. MANUFACTURING BEEF The United States beef market, particularly for processing beef, has had a relatively quiet week as a result of the Easter and Passover holidays, reports the board’s New York office. Prices for carcase cows and domestic processing beef are steady to slightly higher. Prime steer carcases are again showing strong movement and were close to 70 U.S. cents per lb on Tuesday. This is giving a firmer tone to the United States beef market than was evident a month ago when prime steer carcases reached a low of 54 U.S. cents per lb. This general firm tone, together with record prices for American lamb, is also continuing the strong demand for New Zealand lamb, which continues to sell well. MUTTON The quiet mutton market has continued in Japan, except that about 2000 tonnes of Australian carcase mutton have reportedly been purchased at around 31 U.S. cents per lb. c and f, for April and May shipment, reports the board’s Tokyo office. Currently, there are a few Australian offers on carcase of 32 to 33 U.S. cents per lb, and 52 to 56 U.S. cents for boneless (boneless mutton prices have been falling slightly) up to August shipment, but not to the buyers’ idea of price. No New Zealand offer has been received in the past week, but the trade in Japan understands it would be around 37 to 38 U.S. cents per lb, c and f.

Price P per lb Var*n P per lb PL 36.0-36.5 4-0.50 PM .. 32.5-33.5 4-0.50 PH .. 30.5-31.0 4-0.50 YL .. 36.0-37.0 4-0.75 YM 34.5 n.c. (nominal) YH 31.5 n.c.