LAMB PRICE DROPS

Press, Volume C, Issue 29499, 28 April 1961, Page 17

LAMB PRICE DROPS

Dull Market In London (N.Z. Press Assn.—Copyright) LONDON, April 26. New Zealand prime lamb (29-361 b dropped an average of Id per lb to Is B}d on the Smithfield market this week. The edge went off the market over Easter week and it has been blunt since then. The offtake, although good judged by any normal year, has not been that much better to keep firmness in the market and traders have been a bit disheartened. ■tThey look for what might be called scapegoats and mention firstly that there is more food available generally in Britain, secondly Argentine chilled beef was short, and the price of New Zealand lamb ran a bit high. Switch to Beef Then some Argentine chilled beef came in rather unexpectedly, its price went down and people switched from lamb to beef. Thirdly, there is the belief that large numbers of English lambs may come on the market a month early due to the mild winter and early spring. There was talk of a reduced kill in the South Island in New Zealand. Now it is expected there will be a late kill and plenty of New Zealand lamb in August. Traders are watching sales, but these have not been quite as high as some hoped. There is plenty of meat about and the market is slow.