Pigmeat and beef futures, which havebeen thinly traded on the London Meat Futures Exchange, LMFE,
despite lower physical prices and the introduction of new
contracts, need more effective marketing, LMFE chairman Pat
Elmer said in his annual report.
    In 1986 the Exchange introduced live cattle and pig cash
settlement contracts, representing a move away from the
problems of cash distortions and squeezes, which initial
deliverable "buyers option" contracts created, he said.
    Although the physical industry is aware of the market and
follows its prices keenly, this has not been reflected in
market volume, Elmer said.
    "If we are to achieve our true potential the floor members
must give the market much more time and attention," he added.
 Reuter
