SMITHFIELD MARKET

Press, 1 May 1978, Page 21

SMITHFIELD MARKET

The short-term outlook for New Zealand lamb on the English market is good, reports the New Zealand Meat Producers’ Board in its weekly market slurvey. Taking " into consideration present price increases, the New Zealand product remains very competitively priced compared with other red meats.

Wholesale prices for New Zealand lamb moved up another Ip this week, as was expected after the advance of ex-ship prices at the end of the previous week. Retail off-take remains buoyant — in contrast to home-killed red meats, which are meeting a dull trade at prices round earlier levels. Prices for New Zealand

Nominal quantities of New Zealand lamb cuts in cartons sold at the following prices:—

Legs .. 70.0-72.0 4-4.00 Long loins .. 50.0-52.0 —4.00 Short fores .. 34.0-36.0 —1.50 MANUFACTURING BEEF

In a relatively quiet week on the United States imported beef market, New Zealand cow-beef traded at an average of 100 c per lb, c.i.f., 1c up. End-users showed little interest at current asking prices, preferring the slightly cheaper domestic grinding beef. The present price of New Zealand cow-beef is the highest since September, 1973. Imported bull-beef was in strong demand on the West Coast — prices averaging 109 U.S. cents per lb compared with 106 c a week earlier. MUTTON The Japanese mutton market has been quiet, although an odd parcel of 200-300 tonnes of New Zealand mutton has been sold at about 44 U.S. cents per lb, c.i.f. Japan. Currently, New Zealand mutton has been offered at up to 46 U.S. cents per lb for various shipping periods.

lamb were:— Price Var’n P P per lb per lb PL 47.0-48.0 +0.75 PM 46.0-47.0 +1.25 PH 44.0-45.5 +0.50 YL 47.0-47.5 (nominal) +0.50