SMITHFIELD MARKET

Press, 4 December 1978, Page 23

SMITHFIELD MARKET

Britain experienced its | first taste of cold, wintry! weather last week reports! the New Zealand Meat] Producers Board in its ! weekly market survey. The change in the weather ( assisted what has been aj dull trade in most meats in( recent weeks, because of; unusually warm weather fori this time of the year. Demand for forequarter beef in particular improved, with prices up 1-2 pence a lb on the previous week. Home-killed lamb continued to be in plentiful supply but greater numbers of heavier lambs are now being pitched, with retailers dis-

I counting overfat carcases |to as low as 42-45 pence. ! ! Top home-killed light' (lambs made up to 58 pence.' (a lb on Smithfield. i ( The New Zealand lamb! iretail trade continues to he slow because of the ready I availability of home-killed (lamb at comparable prices. The wholesale trade, however, was slightly firmer because of ex ship prices for PL and YL grades at last steadying after the recent sharp fall in values. Prices for New Zealand lamb sold at Smithfield were:— Price Varhi P • P perlb per lb PL .. .. 52.0-53.0 —l.OO < nominal) PM .. .. 51.0-53.0 —0.50 (nominal) PH .. 49.0-50.0 —l.OOl (nominal) YL .. .. 45.0-48.0 —1.00; YM .. .. 46.0-50.0 —2.00 j (nominal) ■ Prices for nominal quan-l tities of New Zealand lamb; cuts were:— Legs .. 75.0-80.0 —1.50 i (Long loins .. 70,0-73.0 —0.50 Short lores 36.0-39.0 +0.50 i MANUFACTURING BEEF ' The United States market | for both domestic and imI ported beef became very (active during last week and j the average price for im]ported New Zealand boneHess cow beef reached an average price of 107.5 c a lb ic.i.f., an increase of 3.6 c on I the previous week and the 'highest price recorded since 1973. The sudden interest in imported beef stems from endusers realising that they will be facing a shortage of domestic beef and also that lower production forecasts in New Zealand and Australia have been widely publicised. MUTTON As was the case the previous week, the mutton market in Japan has continued to be quiet with no! move on the part of buyers! (and no quotations from New! Zealand.