SMITHFIELD MARKET

Press, 12 June 1978, Page 20

SMITHFIELD MARKET

Despite continued hot 'weather in England and Wales, which has reduced meat demand generally, New (Zealand lamb prices have re- : mained steady around prvious levels, reports the New Zealand Meat Producers’ Board in its weekly market survey. Home-killed beef has had I . a particularly poor trade,, t ’ and home-killed iamb prices t fell sharply, with further rer ductions expected this week t because of uncertainties over a the closure of the French market. 3 Quotations for New Zea- . land lamb were: — Price Var’n P P e per lb per lb t PL .. .. 50.5-52.0 —0.50 P.M. .. . 50.0-51.0 n.c. ..PH .. .. 48.5-49.5 n.c. 1 (nominal i YL .. 51.0-51.5 n.c. 5 (nominal) The short-term outlook for 5 New Zealand lamb is good in relation to other meats, j because of the present rather

: light stocks situation, anc I reduced arrivals over June. I Nominal quantities of Nev Zealand lamb cuts in carton: ' sold at the following prices ■ Legs .. 72.0-74.0 n.c | Long loins .. 50.0-52.0 —l.o< Short fores .. 38.0-40.0 +0.51 ’ MANUFACTURING BEEF Trading in imported bee on the United States marke l| was almost at a standsti! last week as importer; 1 awaited an official an •■nouncement regarding relax- : ation of beef import ' quotas. Nominal quantitie; l of immediately available cow-beef sold at an average lof 88 U.S. cents per lb, c.i.f. as compared with 99c e ‘week ago, but an improverment is expected. MUTTON The Japanese mutton mar ket has continued to remain quiet and buyers have noi been seeking offers. New Zealand is still quoting up |to 46 U.S. cents per lb for carcase mutton.