SMITHFIELD MARKET

Press, 28 November 1977, Page 24

SMITHFIELD MARKET

Sales of New Zealand! lamb on the English market! (have followed the present; ;trend, and continued at low; levels, although prices have I remained basically firm, re-1 ■ ports the New Zealand Meat! I Producers’ Board in its] (weekly market survey. ; There was a slight im-i Iprovement in prices for (lightweight carcases, but! I they eased again by the end I (of the week to remain un-; I changed over the previous’ ■week. ; The news on the industrial; ;front from New Zealand has! I done nothing to instil any! confidence throughout the, trade for the prospects of] marketing New Zealand] lamb next year. The over-all retail and] wholesale meat trade con-; tinues at a low level, but; beef is beginning to attract] more interest as slight retail! price reductions are tending] Ito improve consumer de-| Imand. Domestic lamb of varying] size and quality is selling at] |a wide range of prices with] i lightweights, for example,] ranging from 40 to 54 p perl | lb; this is doing nothing to [induce further demand. Quotations for New Zealand lamb were:— Price Yarn P P per lb per lb .Pl . . 47.0-49.0 n.c. I PM .. .. 45.0-46.5 +0.25 I PH .. 40.5-42.0 —0.25 YL .. 44.5-47.0 —0.25 I Nominal quantities of New i Zealand lamb cuts in cartons sold at the following prices:— , Legs .. 64.0-68.0 n.c. Long loins .. 45.0-46.5 -0.25 Short fores .. 36.0-38.0 n.c. ! MANUFACTURING BEEF American prices for imported cow beef firmed last week to 62.25 U.S. cents per lb, c.i.f. East coast cold stores have been stripped of their imported beef supplies, and domestic beef prices haye shown a general upward trend. Hopes have dimmed for an early settlement of the] waterfront strike against] container shipping at East; 3oast ports. MUTTON After a lull of several! veeks the mutton market in; Japan became active again’

I last week, although no New (Zealand sales have been re-1 ! ported; most activity has in- ’ Ivolved Australian sales. Small parcels of New Zealland MLL grade are being (quoted at 46.5 to 47.0 U.S. | cents for January and Februjary shipment.