Winter disrupts meat trading

Press, 30 January 1984, Page 21

Winter disrupts meat trading

Severe winter weather caused difficulties in transportation of livestock, disrupted marketing in Britain last week and resulted in poor trading for all meats, reports the Meat Board in its weekly market survey. Old-season New Zealand lamb experienced a slow sale, largely because most of the major retailers had already stocked up immediately before and after Christmas. Some improvement in offtake is expected this week as retailers begin to restock. Modest numbers of newseason New Zealand lamb carcases were sold, but with the perceived sharp differential between old and new, some users were preferring to stay with the old products. Prices quoted for New Zealand lamb were Pl, 64p per lb, and for PM grade 63p per lb, delivered ex-ship. Domestic-killed lambs increased in value, reflecting the higher live-market values recorded the previous week, and with restricted availability live prices for lambs rose lOp per lb for the week. Pork prices

remained at the previous week’s levels, while domestic beef prices eased back slightly. On the Smithfield market, New Zealand PL grade is being quoted at 58.8 -60 p per lb. Imported manufacturing beef prices in the United States generally weakened towards the end of the week in line with similar falls in United States domestic processing beef prices. In addition, many importers are still holding stocks that continue to accrue storage and interest rate charges. To encourage product turnover, some traders have been undercutting day-to-day market levels. There is no confidence by importers that present levels can be maintained and with the potential impact of the dairy paid diversion scheme yet to appear, it is likely that import prices will continue to be under pressure in the short term. Prices quoted for New Zealand boneless bull beef averaged 107 US cents per lb c.i.f. and 98US cents per lb c.i.f. for cow beef.