SMITHFIELD MARKET

Press, 7 March 1978, Page 18

SMITHFIELD MARKET

The only bright note Own ■ Smithfield market last week < (was improved selling in Newlj Zealand lamb, reports the! I New Zealand Meat Produc- ' ers Board. ■ Acceptance by consumers , of the recent increase in) (price levels for beef, coupled) (with a discount of more!! than lOp a ib in New Zealand lamb prices compared) ; with light-weight, home-'t killed hoggets, has assisted) The New Zealand trade. (j Relatively heavy arrivals (of New Zealand lamb are!' due in’ March and earlyj; I April. However, with cold! (store stocks at a low level:' land retail sales strength-J ening, the market outlook ! appears favourable. Prices of New Zealand I lamb sold on Smithfield I were: Price Var’n P P per lb per lb i PL 45.0-46.0 n.c. 1 PM .. .. .. 44.5’45.0 -i-0.25 , PH . ~ .. 42.5-43.0 4-0.25 1 (nominal) VL .. ~ .. 45.0-46.0 n.c. ( (nominal) £ Prices for nominal quan- >

‘titles of New Zealand carton • cuts were, — 'Legs , 63.0-70.0 + 2.00: [ Long Loins .. 48.0-50.0 t-2.50 'Short fores 34.0-36.0 —0.56' MANUFACTURING BEEF The market for imported cow-beef in the United States eased to an average 1 of USBlc a Ib, compared with 83c previously. Improved weather resulted. in better supplies of domes-' tic cow-beef at prices of lei or 2c a lb cheaper than the: previous week. Hamburger manufacturers' were ready buyers of limited at-hand supplies of imported beef at prices, in some 1 cases, several cents a lb below those ruling in the previous week. However, there is still a generally strong tone to the; market. MUTTON The mutton market in Japan has been quiet again with little movement, except! for a few sales of Australian mutton. New Zealand has been 1 1 quoting MLI carcase mutton I at US4B.3c to 50c a lb for|| April and May shipment.