Smithfield market

Press, 24 November 1980, Page 16

Smithfield market

There was a better level of inquiry for New Zealand iamb, particularly heavier grades, on the United Kingdom’ market last week, the New- Zealand Meat Producers Board reports in its weekly market survey.

The marketings of domestic lamb declined substantially, with supplies at live auctions down by nearly 20 week. Even so, the current per cent, and prices up by 6p per lb on the previous realisations for British lamb are disappointing and continue to have a disruptive effect on the New Zealand trade.

New Zealand lamb prices were quoted on an average

at 0.5 p per lb down on the previous week. PL grade made 48.5-51.0 p per lb and PM grade ,44.5-46.5 p. There has been a continuing firming tone on the U.S. cow beef market over the past two weeks with New Zealand cow beef reaching as high as 130 cents per lb c.i.f. The average price last week was 128 U.S. cents, up 0.5 c. The differential between manufacturing bull beef and cow beef has narrowed with bull beef fetching 134 U.S. cents.

The Japanese mutton market was quiet; the only New Zealand mutton sale reported was that of 50 tonnes of MLI/MLI grade at 74.5 U.S. cents per lb c and f, Japam