Overseas meat markets

Press, 27 February 1984, Page 14

Overseas meat markets

. Wholesale meat values in the United Kingdom last week remained similar to previous levels, with the exception of domestic lamb which dropped slightly, reflecting varying sizes and quality, reports the New Zealand Meat Producers’ Board in its weekly market survey. Old season New Zealand lamb continued to meet a reasonable offtake while there was some improvement in interest in the new season’s product. However, offtake is below sales targets. Major buyers have decided to remain with old season New Zealand lamb until the end of March. On the Smithfield market New Zealand PL grade is being quoted at 58.3 -59.3 p per lb. Prices for imported manufacturing beef continued to rise in the United States last week for the third week in succession. New Zealand cow beef improved by two cents per lb, c.i.f., and bull beef was up 1.5 cents on the previous week. Imports are benefiting mainly from a sharp improvement in domestic canner and cutter cow, and boner cow prices, resulting from shorter supplies. Quantities offered from New Zealand and Australia continue to be light with exporters tending to ask for returns in advance of cur-

rent spot prices. Business last week was mainly with traders, with little movement to endusers. However, end-users may move strongly into the market as particularly high domestic prices are likely to increase the attractiveness of imports. New Zealand cow beef averaged 102 U.S. cents per lb, c.i.f., and bull beef averaged 109.5 per lb c.i.f.