N.Z. lamb holds market share

Press, 27 June 1987, Page 29

N.Z. lamb holds market share

New Zealand lamb continued to maintain its market share in Britain in spite of easing prices for domestic meat, the New Zealand Meat Producers’ Board said in its weekly market report. However, there was some uncertainty about how long New Zealand lamb could continue to maintain its share. On the Smithfield market this week, New Zealand PL grade lambs were quoted at JNZ3.SB to $3.70 a kg. The British meat trade was described as reasonable, with prices for pork and beef unchanged. Domestic lamb prices fell lOp a lb pound at both hooks and live auction. The quality of domestic lambs was described as variable; •

United States prices for New Zealand manufacturing beef rose at the end of last week and at the beginning of this week because of concerns about , residues in Australian beef. : i ‘‘

However, prices have since returned to last week’s quoted levels. Since Tuesday users have shown little interest in buying forward either domestic or imported manufacturing beef, although spot market prices are at a premium. The average price for imported bull and cow beef remained unchanged at last week’s levels of SUSI.OB a lb c.i.f. and SUSI a lb c.i.f. respectively (SNZ4.OS and $NZ3.75 a kg). __