SMITHFIELD MARKET

Press, 14 November 1977, Page 28

SMITHFIELD MARKET

New Zealand lamb at Smithfield has been less competitively placed than for some time in relation to home-killed beef, and this has resulted in a slower trade, reports the New Zealand Meat Producers’ Board in its weekly survey. Beef is at present very competitively priced and the trade in other meats last week was slow. Wholesalers managed to increase homekilled lamb realisations because of the recent lift in livestock prices, but at the expense of a reduction in volume.

Some wholesalers continue to keep a very firm grip on sales of New Zealand lamb in relation to stocks, even though public cold store figures are about 50 per cent up on last year’s levels. Quotations for New Zealand lamb were: Price Varin p p per lb per lb PL 47.5-48.0 4-0.25 PM 45.0-46.0 n.c. PH 40.5-41.5+0.25 YL 46.0-47.0 n.c.

Nominal quantities of New Zealand lamb cuts in cartons sold at the following prices: Legs .. .. 64.0-68.0 Long loins .. 44.0-52.0 Short fores .. 35.0-38.0

MANUFACTURING BEEF The price for imported cow-beef in the United States firmed last week to 61.25 U.S. cents per lb, c.i.f., compared with 60c a week ago. Prices for spot cow-beef for immediate delivery ranged as high as 65c. With the East Coast waterfront strike in its sixth week im« porters are showing strong interest in New Zealand cow-beef supplies for shipment early next year. There is still no sign of settlement in the strike and container shipping is starting to bunch up. MUTTON No sales of New Zealand mutton have been reported in Japan last week, and importers are sitting back at this stage. New Zealand has not been quoting, but has indicated prices of 47 U.S. cents for MLI and 46c for ML2 carcases.