MEAT INTERESTS FIGHT.

Auckland Star, Volume LVI, Issue 162, 11 July 1925, Page 9

MEAT INTERESTS FIGHT.

I CUT-THROAT COMPETITION. GREAT FIRMS AND MONOPOLT. LONDON. July 10. . Meat traders arc keenly watching developments in si struggle which is proceeding between Vosteys-and'a combine of South American packers, embracing' Swifts. Armours, and -Wilsons, for a monopoly 0f... the European market, Vesteys recently extended their operations to the Continent, for which they demanded an increase iv their quota of shipping space from, the Argentine. The otherfiirnjs j;_Fng ud_ the demand. .. ~,, 'The rt .lit beaan iv April, nnd has been gradually intensified. Tt is estimated that the present weekly losses of the contestants amount to £250,000. Knglish and Continental consumers- are- benefiting by the low prices. Argentine stock breeders have almost doubled the prices for their cattle. The struggle is also improving the Argentine exchange rate, and European speculators arc bemoaning their heavy losses nn forward purchases. British people arc speculating on the duration of the . conflict. They expect Vesteys to win, because they control the greater quantity of the shipping and more of the cold stores on the Continent. The cheaper' selling rates have increased the European demand and created a temporary shortage of chilled beef in Britain. Traders anticipate a bigger demand for New Zealand and Australia beef, and are holding supplies for a rise.—"Sun."