Smithfield market

Press, 22 September 1980, Page 26

Smithfield market

Apart from a brief flurry of buyer interest, generated by prospects of a national dock=workers’ strike, little change was detected last week in the level of demand for New Zealand lamb on United Kingdom wholesale markets, reports the New Zealand Meat Producers’ Board in its weekly survey. Domestic lambs remained in plentiful supply, leading to a fall in prices at live auctions. Retail off-take, however, was generally firm. On Smithfield market, New Zealand lamb values eased slightly; P.L. grade was quoted at 55.8-57.5 p per lb, and P.M. grade 48.5-50.8 p per lb. The slow tone of the United- States imported beef

market continued last week, with little end-user demand in evidence, and' traders generally reluctant to meet price indications from New Zealand and Australian exporters. Imparted New Zealand cow beef averaged around 124 United States cents per lb, c.i.f., a rise of one cent on the previous week. Trading activity on the Japanese mutton market has now virtually ceased, as processing companies react to readily-available supplies of more attractively priced pork, and the lack of available mutton stocks in New Zealand. Importers are understood to be resisting Australian offers of carcase mutton at around 74 United States cents per lb, c.i.f.