SMITHFIELD MARKET

Press, 29 November 1976, Page 22

SMITHFIELD MARKET

Steady trading continued in wholesale meat markets throughout the United Kingdom last week, reports the London office of the New Zealand Meat Producers’ Board.

On Smithfield, beef pitchings met a slightly improved market, but continued heavy supplies of domestic lamb were again slow to move. Prices showed little change. Although sales are seasonally light, and competition from the domestic product is now very keen, wholesalers moved New Zealand lamb prices up by around 0.5 p for all grades, in order to conserve stocks. While concerned at the postponement of preChristmas lamb arrivals, traders are hopeful that disturbance to the normal sales pattern for the bulk of newseason’s lamb may be avoided.

Nominal quantites of New Zealand lamb cuts sold at the following prices: Legs .. 65.0-67.0 n.c. Long Loins ■. 57.0-58.0 n.c. Short Fores . • 32.0-34.0 n.c. MANUFACTURING BEEF United States prices for imported beef improved a cent or two last week, but New Zealand sales have been virtually non-existent, reports the board’s New York office. American cow and processing beef prices increased also, but the market lacked real strength. Prime beef prices, which rose early in the week, lost these gains when daily slaughter rates rose. With the Thanksgiving

holiday, retail meat sales are now concentrated on traditional turkeys and hams. This has reduced the level of activity in beef, particularly in the last few days. The absence of real price strength and volume interest, coupled with uncertainties over production and delivery resulting from the works close-down in New Zealand, virtually stopped offerings of New Zealand beef last week.

Price Varn p. P- . per lb per lb PL .. 47.0-48.0 +0.50 PM .. 46.0-47.0 +0.75 PH .. 44.0-45.0 +0.25 YL .. 46.0-47.0 +0.25 YM .. 45.0-46.5 +0.25 YH . 44.0-45.0 (nominal) +0.75