SMITHFIELD MARKET
Although the offtake of New Zealand lamb in England and Wales declined slightly last week with the height of the holiday season, prices at Smithfield remained at about previous levels. However, the price range of PMs which widened slightly, reflected the fluctuation in supplies, according to the weekly report of the New Zealand Meat Producers’ Board. The French market closed to imports of British lamb, and as a result the increased supplies on Smithfield were discounted as much as 4p. Medium home-killed lambs are now making 54 to 60p, which is only 3p above the New Zealand PM price. But this small margin between New Zealand and homekilled lamb prices does not seem to be affecting the New Zealand trade, and new arrivals continue to be moved directly into shops rather than into store. Prices for New Zealand lamb sold on Smithfield last week were:— Price Var’n P P per lb per lb PL .. .. 54 -55 n.c. PM .. .. 53 -55 +0.25 PH .. .. 52.5-53.5 n.c. (nominal) YL .. .. 50 -53 n.e. (Nominal)
Nominal quantities of New Zealand lamb cuts were: Legs 78-80 Long Loins .. .. 5+56 Short Fores 38-40 MANUFACTURING BEEF The United States market for imported beef finned late last week, with prices for New Zealand cow-beef averaging 83.5 U.S. cents per lb, c.i.f., an increase of 3.5 cents on last week.
An official report disclosed that the United States cattle herd on July 1 was down seven per cent from a year earlier at about 122 M. As yet there is no indication that ranchers are rebuilding their herds as heifer numbers are down by eight per. cent. This points to low beef supplies and high beef prices in coming years. MUTTON Apart from the sale of several small parcels of New Zealand carcase mutton totalling about 1000 tonnes, the mutton market in Japan has not shown much movement. According to the trade a few medium sized processors are interested in buying more carcase mutton. Currently New Zealand is quoting carcase mutton at 50 U.S. cents a !b, c and f/ Japan, for October shipment.
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Press, 31 July 1978, Page 14
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346SMITHFIELD MARKET Press, 31 July 1978, Page 14
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