Smithfield market

Press, 2 June 1981, Page 22

Smithfield market

Despite a reduced demand for all meats on the United Kingdom wholesale markets last week, depot prices for New Zealand lamb remained firm on earlier advanced levels, and there were some further gains on Smithfield, reports the New Zealand Meat Producers’ Board in its weekly market survey. However, the offtake of New Zealand lamb, in keeping with the market tone, was more subdued. Quotations for New Zealand lamb on Smithfield were: PL grade, 71-72 per lb (last week 70-72 p) and PM grade 69-71 p (last week 6970p).

The weak tone of the United States imported beef market continued, but New Zealand traders reported an increased level of selling. Unfortunately this was not reflected in the price for boneless cow beef, which averageed 103 United States cents per lb c.i.f. down 3c on the previous week. The Japanese mutton market continues to be affected by the adverse exchange rate for the yen and slow consumer demand for processed foods. New Zealand traders were quoting MM grade at 63.25-65 United States cents per lb c. and f. Japan, but no sales were, reported.