Steady trade in meat

Press, 24 September 1988, Page 38

Steady trade in meat

PA Wellington Trade for most meats had been steady throughout the week in Britain, the Meat Producers Board said. New Zealand lamb demand was moderate at both wholesale and retail levels and prices for heavier grades had firmed due to short spot stocks. On Smithfield Market this week, New Zealand PL grade carcases were quoted at 60 pence to 61.5 p a pound (NZ3SSC to 364 c a kg). Domestic lamb prices at all levels fell by about 4p a pound due to poorer finish and quality. The sheep dipping programme is under way and it is expected to firm prices in the next few weeks. The “slam in the lamb” Meat and Livestock Commission campaign is to close in the next few days having been operating since mid-July. Prices for beef sides weakened although choice cuts firmed slightly as a result of better interest from the catering sector. Although the market for domestic beef firmed this week, prices for imported beef were on a par with last week. The trade was in a slightly confused state as traders grapple with the implications of the voluntary restraint agreements. It was expected that 1988 meat prices would rise when the market was closed and that there could be a dip in January when product was released. However, it was thought that strong demand for United States beef in January could offset the disruptive effects of the voluntary restraint agreement. Current prices for imported bull and cow were USl25c and USll6c a pound cif respectively (NZ442C and NZ4lOc a kg).