Meat report

Press, 23 January 1988, Page 32

Meat report

PA 1 Wellington New Zealand, lamb sales in Britain jat all levels have been slow this week, the Meat Producers Board said. j

Most bulk buyers were waiting to see how the reduced domestic prices would affect New Zealand prices, which were largely unchanged.

On the Smithfield market this week, ‘ New Zealand PL grade lambs were quoted at 62.5 to 64 pence a pound (NZ37Oc to NZ37Bc a kg).

Trade for all meats was slow and this was reflected in prices for beef hindquarters which weakened 3p a pound and lighter weight-range pigs which weakened 2p a pound.

The board said live auction and ex-hook prices for domestic lambs

dropped lip and 12p a pound respectively since last week.

These sharply reduced prices were caused by a combination of a particularly heavy kill of good quality lightweight lambs and a poor demand. It was interesting to note two major supermarkets were heavily promoting domestic lamb and. experiencing considerably poor offtake by consumers, the board said. Despite an easing in U.S. domestic bull and cow beef prices, the market for imported manufacturing cow and bull beef remained firm this week. Prices increased USlc and 0.5 c respectively to finish at USlO6c a pound cif (NZ347c a kg) for cow and USlllc a pound cif (NZ364c a kg) for bull beef.