Lamb price holds

Press, 29 July 1989, Page 24

Lamb price holds

NZPA Wellington The New Zealand lamb trade stayed quiet in Britain this week, according to the Meat Producers’ Board. Falling British lamb prices and the persistent hot weather were seen to be the main reasons. Spot stocks of New Zealand lamb were low but there was enough to meet demand and prices held well. Heavier weight PX grade lambs rose 2 pence a pound at hook because of good demand from the catering trade. Latest indications were that the strike-affected container terminal at Tilbury docks was slowly returning to work. On Smithfield market, New

Zealand PL grade carcases were quoted about 65 pence to 67p a pound (SNZ4.OI to SNZ4.I3 a kg). Beef and pork supplies stayed tight. Fresh sides of beef dropped by an average of 2p a pound and small porkers by 3p a pound amid slow demand. The European beef mountain was rapidly turning into a molehill, the European Commission said. Unsold stocks were down to only 100,000 tonnes and no British beef had been bought since new trigger mechanisms were installed. Trade in the United States imported beef market was thin. Offerings from Australia and New Zaland were light