SMITHFIELD MARKET

Press, 6 November 1978, Page 22

SMITHFIELD MARKET

Trade for all meats in the United Kingdom was quiet last week, reports the New Zealand Meat Producers Board in its weekly market' survey. The closure of the French market to British lamb for the third week in succession resulted in heavier offerings of good quality home-killed lamb at competitive prices, causing a lower off-take of New Zealand lamb. The situation was made more difficult by the arrival of a quantity of Australian ilarnb on to the market atj prices below current New Zealand levels. The present heavy arrivals of New Zealand lamb, particularly of Yl. grade, have forced prices of the grade down. On the other hand. PM grade lamb has tended to strengthen slightly. Prices for New Zealand lamb sold at Smithfield were: Price Var’n' per lb per lb PL . • .. 56.0-53.0 -0.50: PM .. .. 56.0-57.0 n.e. (nominal) PH . • • . 53.0-54.0 n.e. i (nominal! YL .. .. 50.0-52.0 —1.50 (nominal)

YM 56.0-57.0 n.e. nominal) Prices for nominal quantities of New Zealand carton cuts were: Legs .. 52.04M.0 n.e. Loins 70 0-72.0 -1 0(1 Short fores 40.0-42.0 n.e. MANUFACTURING BLEF The United States market for imported cow beef was generally quiet with attention focused on Government efforts to effect the recovery of the dollar on the world i markets. There was some buying interest towards the end of the •week, and New Zealand cow beef traded at an average price of USIOOc a lb, c i.f., with 99c the previous week. MUTTON The mutton market was very quiet m Japan last week, as buyers have tended to i watch price movements in exporting countries. No sales of New Zealand mutton have been reported. At present New Zealand is. quoting carcase mutton ar :U550.5-52.5c a lb. c and f Japan, for December and January shipment.