SMITHFIELD MARKET

Press, 21 August 1978, Page 14

SMITHFIELD MARKET

The New Zealand lamb trade was again very quiet throughout England and Wales last week, as is normal for this time of year, reports the New Zealand Meat Producers’ Board in its weekly market survey. Prices remained about the same level as the previous week but with a slight firming in some of the heavier grades. Home-killed lamb prices fluctuated during the week with the French market open again, but they have now returned to the previous week’s levels. Prices on Smithfield for New Zealand lamb were:-— Price Var’n

MANUFACTURING BEEF There were plentiful supplies of New Zealand and Australian cow-beef available on the United States market last week, as well as domestic cow-beef. The result was that New Zealand cow beef eased to 84.5 US cents a lb, c.i.f., down one cent from the previous week. Hamburger manufacturers were very active buyers in view of the supply situation. MUTTON The mutton market in Japan was slow last week with only a few sales being recorded; trade has been inhibited by the sharp fluctuations of the United States dollar. With New Zealand mutton stocks now reaching low levels, and Australian supplies not expected to be available in quantity until next February, Japanese buyers are expected to show more interest in the New Zealand product in the next few months to cover their requirements for the early part of next year.

p p per lb per lb PL .. 53.5-54.5 n.c. PM .. 54 -55 +0.25 (nominal) PH .. 54 -55 +0.25 (nominal) YL .. 50.5-52 +0.25 YM .. 53.5-54.5 n.a. (nominal) Nominal quantities of New Zealand lamb cuts in cartons sold at:— Legs .. 76-30 —5.75 Long Loins .. 62 -66 +2.00 Short Fores .. 33 -36 —4.50