Overseas meat markets

Press, 7 March 1983, Page 27

Overseas meat markets

New Zealand lamb had the best of a generally poor meat trade in the United Kingdom last week, the New Zealand Meat Producers' Board reports in its weekly market survey.

Although prices for New Zealand lamb eased slightly on the Smithfield market, the move by most major retailing chains to stay with old season’s product until Easter caused a firming in forward bulk delivery prices.

On the Smithfield market, the first of the new season PL grade New Zealand lamb realised 62.5-64.5 p per lb. Old season’s PM grade averaged 47- per lb, and PL. grade 48- per lb.

The United States market for manufacturing beef firmed slightly last week, with New Zealand boneless cowbeef quoted at 105 U.S. cents per lb c.i.f., and bull at 109.5 U.S. cents. There have been reports of speculative

buying of beef in Australia, for later resale in the U.S., apparently in anticipation of an expected devaluation in the Australian dollar after the Labour Party win in the Federal elections. The board last week sold 1500 tonnes of new season’s MM grade carcase mutton to Japan, as the move from Australian mutton to New Zealand product continued. Small parcels of main grade carcase were also sold at 5152 U.S. cents per lb. c. and f.