SMITHFIELD MARKET

Press, 17 April 1978, Page 19

SMITHFIELD MARKET

New Zealand lamb was very competitively priced,; compared with other red! meats in England and Wales.! the New Zealand Meat Producers’ Board said in its! weekly market survey. Cooler weather assisted beef to take at higher prices.! The throughput of New Zea-I land lamb continued to bej steady, and there was some( firming of prices last week.; With the reduction of ship-’ ping arrivals in the next few! weeks this firming is likelyj to be maintained. Prices for New Zealand! lamb were: Price Var’n P P per lb per lb PL ~M .. 45.0-46.5 +0.25 PM .. 44.0-45.0 n.c. PH . . 43.0-44.0 n.c. YL .. 45.5-46.0 +0.25 Nominal quantities of New Zealand lamb cuts in cartons, were sold at the following! prices: Legs •• 66.0-69.0 —0.501 Long loins .. 46.0-48.0 —0.50; Short fores . 36.0-37.0 +0.50 MANUFACTURING BEEF The average price of New Zealand cow beef on the United States market eased; to 95.5 U.S. cents per lb,! C.1.F., a drop of one cent on ; previous prices. There was sporadic activ-j ity during the week, as manufacturers concentrated on buying limited supplies of close-by beef in preference to contracting forward. The current settling down period for prices is expected; to continue for a little while; yet.

MUTTON After a quiet period New Zealand sellers were active on the Japanese mutton market last week; about 8000 tonnes of New Zealand carcase mutton has been sold at 42.75 to 4TO U.S. cents per lb, c. and f. for June and July shipment. Most of the consignment is for boning operations in Korea. With the purchase, buyers now appear to be sitting back to watch market developments.