Prices unchanged for N.Z. lamb

Press, 21 October 1989, Page 38

Prices unchanged for N.Z. lamb

PA Wellington A moderate demand for New Zealand lamb in Britain this week saw prices the same as last week, the Meat Producers Board said in its weekly report. Primal cuts were in big demand, particularly leg orders as the holiday season approached, the board said.

On Smithfield market, New Zealand PL grade carcases were quoted about 67 pence to 68p a pound (NZ39IC to 400 c a kg). Auctioned British lamb fell by 4p a pound because slightly more came to market as the dipping programme ended. Trade in other meats was rather slow and decent sales were difficult to come by, the board said. Beef prices were unchanged from last week and there was heavy interest in fresh hind-quarter cuts. Demand was slow for the frozen, boneless equivalent. Beef stocks within' the European Community were definitely diminishing, but

prices would probably not rise significantly until 1990, the board said. Pork continued to be in constant demand. Carcases were still being processed for curing. Wholesale prices, particularly for medium weight, rose by 2p a pound. The small amount of New Zealand beef in the United States market this week was dearer than it was prepared to pay, but by next week the prices could be exceeded, the board said.

Most activity during the week centred around traders. A few end-users bought meat to cover immediate needs, or when United States beef was not available. A few bull users switched to cow as the bull/cow price differential was considered by some to be too high for comfort.

Indicative prices showed imported 95C1 bull beef quoted at USl42c to 143 c a pound and 90C1 cow at 133 c to 135 c a pound cif (NZ523c to 527 c and 490 c to 497 c a kg cif respectively).