SMITHFIELD MARKET

Press, 26 June 1978, Page 12

SMITHFIELD MARKET

j Continuing cool weather! I in England and Wales last! 'week ensured a steady meat] I trade, reports the New Zea-! land Meat Producers’ Board! in its weekly market survey.( Although home-killed lamb: iprices on Smithfield eased.: New Zealand lamb prices' 'continued firm —- increasing! (by about Ip as wholesalers! ! reacted to the present situ- 1 lation of relatively low cold' 1 !store stocks, current light! arrivals, and limited com- j ] petition from home-killed! ! lambs. Quotations for New Zea-: :land lamb were: Price Var’n P P per lb per lb PL .. .. 52.0-53.0 -0.75 PM .. .. 51.5-52.6 -r0.75 PH .. .. 50.5-51.0 ->1.25 YL - 53.0 <nom.) ->-1.25 ! YM • ■ 52.0 fnom.) N/A I Nominal quantities of New! Zealand lamb cuts in cartons! were sold at the following: prices:— Legs 73.0-74.0 -:-0.50i Long loins 52.0-56.0 -:-3.00!| Short fores 38.0-40.0 n.e. manufacturing beef With United States domes-p tic beef supplies currently! available in ample quantities, and the demand for imported cow-beef restricted , >o small quantities ex-dock New Zealand cow-beet I:

i traded in the United States Hast week at an average of 185 U.S. cents per lb c.i.f., (compared with 87c the week ■before. I Consumers have reacted (to recent publicity' about ,beef prices and imports, 'with the result that retail i off-take has declined. Ham- : burger manufacturers are 'showing little interest in ! contracting forward at I present asking prices. MUTTON j After more than two! !months of sporadic sales of! ’small parcels, the Japanese] mutton market showed active interest last week with the sale of 3000 tonnes of New Zealand carcase mutton at 46.50 U.S. cents per lb. Considerable tonnages are] under offer at higher levels! ]for July to September ship-] ments, the buyers are main:ly medium-sized processors I j but some mutton has been 1 bought for shipment to Hok- ] Ikaido, northern Japan. There is also firm interest in mutton from the United Kingdom.