British market for meat slow

Press, 10 August 1985, Page 24

British market for meat slow

PA Wellington There has been no improvement in the depressed British meat market, reports the New Zealand Meat Producers Board. Bad summer weather and favourable exchange rates have encouraged British holiday makers to travel to Continental Europe rather than to traditional domestic beach areas.

Live auction prices for domestic lambs advanced by Ip a lb but wholesale prices remained unchanged against last week, with reports that buyers were resisting the higher end of the price range. Pork and poultry were again in demand.

New Zealand lamb volumes traded for the week were up on the previous week as major outlets re-stocked after participating in the board’s “Summer Spectacular” campaign. Over the week two national retailers said that they had come back to New Zealand lamb because they could not

obtain on a regular basis the size and quality of product they required from the domestic sector. On the Smithfield market this week New Zealand PL grade lambs were quoted at 64 to 65.5 p a lb (SNZ3.BO to 3.89 a kg). Imported beef trading in the United States this week improved sharply. New Zealand manufacturing cow beef improved by 2.5 c U.S. to average 88c a lb c.i.f. (JNZ3.67 a kg), and bull beef rose by the same amount to 101.5 c U.S. a lb c.i.f. (JNZ4.23 a kg). Cuts and trimmings rose by 3c and were still improving at the end of the week.

There are two main reasons for the lift in prices. End-users are firming their orders for the long Labour Day holiday weekend at the beginning of September, and the shortage of domestic cow beef is becoming acute. Choice beef prices have also risen by up to 3c U.S. from a nine-year low.