Brisk trade for lamb

Press, 28 May 1984, Page 26

Brisk trade for lamb

Sales of New Zealand lamb in the United Kingdom last week were 15 per cent above target, reports the New Zealand Meat Producers Board in its weekly market survey. Individual agents have been experiencing variable demand, but over-all offtake is proving satisfactory. Beef had a steady trade with little change in price, while pork values remain well aoove those of last year. Domestic lamb prices have fluctuated markedly on a day-to-day basis, with live auction prices falling 37p per kg on the previous week’s prices, to around 170 p per kg. After very heavy purchases of new season YM grade carcases last week the Meat Board has increased the price by one pence per pound to 63p per lb, delivered in bulk. On the Smithfield market New Zealand PL grade is quoted at 67.9-68.5 p per lb ($NZ3.22-3.25 per kg). The fall-away in domestic

beef prices in the United States this week was followed by imported manufacturing beef prices, as well-covered end users pulled out of the market before the Memorial Day long week-end. The only demand for imported beef was for “spot” production, and this has been in short supply. The two to three cent premium for “spot” meat, as well as the general premium on imported meat over domestic is expected to disappear once the first major Australia/New Zealand vessels arrive in mid June. With a lot of June arrivals still unsold, importers appear pessimistic on price, especially as most believe domestic prices have still not yet bottomed out New Zealand bull beef averaged 107 US cents per lb, c.i.f. ($NZ3.62 per kg), and cow beef dropped half a cent to average 100.5 US cents per lb, c.i.f. (SNZ3.4O per kg).