Overseas meat markets

Press, 31 October 1983, Page 34

Overseas meat markets

Domestic lamb prices fell below those for New Zealand lamb in the United Kingdom last week, resulting in poor offtake of the New Zealand product, reports the New Zealand Meat Producers’ Board in its weekly market survey. The weakening of domestic lamb prices seems to be mainly caused by low export demand from France, coupled with a generally poor demand for all meats. The uncertainty about future domestic lamb price trends is also causing considerable problems for traders in the United Kingdom.

On the Smithfield market PL grade New Zeland lamb is quoted at 59.5-60.5 p per lb, the same level as the previous week. Domestic beef prices

have dropped further in the United States, thereby continuing the current decline in prices for imported manufacturing beef which is not due for arrival until January.

New Zealand boneless cow beef for January shipment was quoted at 96US cents per lb, c.i.f., two cents down on the previous week, while bull beef was quoted at 108 US cents per lb, c.i.f., down one cent. The current market for imported manufacturing beef from Australia and Central America is about five cents above the January quotes for New Zealand product.

The mutton market was quiet last week, with no major sales reported. The Meat Board is still quoting 52US cents per lb, c and f, for MM grade product.