OUR FROZEN PRODUCE LETTER.

Press, Volume XLIX, Issue 14564, 15 January 1913, Page 10

OUR FROZEN PRODUCE LETTER.

MARKET NOTES.

HIGHER FOOD PRICES LIKELY

(TOOM OTJR OWN" CORRESPONDENT.) LONDON', December 6

With th© dwindling of the great rush of home-killed meat, a more vigorous tone has been given to tho frozen meat market, and frozen and chilled beef, for instance, now havo something ot a chance whero poor meat was a month ago selling down to almost equivalent prices. Other home stuff is also getting short, and, better still for prices, thero arc indications that the inevitable deficiency b not going to be mad© up easily for some littlo timo to come. Frozen pr.ccs havo not yet moved far, howover; it needs time for that. North Island mutton to-day is nearly threo farthings a lb. dearer than exactly a year ago, but frozen beef is just about levoi with tho rat© of 1911, and tlio two conditions just about indicate th© relative supply ot theso goods. Frozen beet is stul neavily in stock in all our cold stores, while frozen mutton generally is quite short just now, as is also lamb. Present prices for lamb aro rather against holders who were c.i.f. buyers, and need to make at least old to sco any profit. Likewise, holders ol beef have an even stronger tendency to sit tight; the tendency of the market is all in their favour, and with as much as three months storage against them some of them cannot so© their returns on purchases which cost them 3Jd for hinds, and 3Jd for fores. Forward business cannot bo said to be strong from the seller's point of view, and buyers aro complaining that New Zealand quotations are much too high. Possibly New Zealanders will r.ot think so in view of tho turn the New Year's markets aro thought likely to take. Australian dealings are rather I freer. j By the way, a market man who is interested, tola mo that thero was registered to-day, at Somerset House, a company with half a million sterling capital, which is going to enter tho New Zealand and Australian trade, meat and produce, in a big way. Th© money is already "put up," and there aro some well-known names connected with the concern. When on© compares this season's frozen rabbit trade with that of some recent years, the chango is most encouraging. The market is a very strong on© just now, and there are signs that the winter trado is going to bo good throughout, apart from the general indication there is of an increase in food prices all round. This, I think is going to bo a turkey Christmas, and I should not bo surprised if tho demand for rabbits among th© poor classes is enormous round about Christmas. New Zealand should see to it that her grading is further, improved. I havo heard of somo recent arrivals faulty in this respect, and this is unfortunate in such a good year. A COLD STORAGE FIRE. This is not a "New Zealand item"— fortunately enough—but tho reinar_able details of tho disastrous uro which has just destroyed tho Union Cold Stores a*. Koslolf, Central Russia, will appeal strongiy to overyono :n th© proauce worlu. Tho daniago is simply colossal, and is actually said to represent 30 per cent, of tho total Russian production ot fowls. The fire destroyed 14 million eggs, and 10,000,000 fowls, besides 1000 tons of fresh meat and fish. Of course this will havo a very appreciable effect on th© Christmas markets, for London markets wero intended to swallow all that vast stock. As it is, fowls In Russ'a are nearly half as dear again as they wero this timo last year. The London underwriters are going to have a big blOwj most was don© througn Lloyds. 7 . ~ - ;_■ '/EUROPE - ,:, . -..'.-M ' No apparent progress has been mado: in tho last few with tho campaign for opening tho Continent' for frozen meat.. At least, the various Governments have mado no sign of budging from their present position, and tho popular clamour from tho working classes concerned seems to", havo temporarily abated. Switzerland is taking more or less regular consignments from Argentina and Australia; last-year it i was more, than 9 to 1 in favour of Argentine meat, but this year, so far, it is moro lik© 3 to 1, so that Australia is pulling ahead well in this respect. I also hear of an Australian consignment gong into Hamburg this week, though until the report comes forward I have no more particulars of it. The "Frankfurter Zeitung" states that Strassburg is arranging with several other South German towns to import frozen mutton direct from Argentina or Australia. Tho Swiss Government, by the way, has, I understand, just sent word that in would bo unwilang to support officially tho proposed International Meat Inspection Conference if it were held within its territory,,tho excuse being that European politics just now are too disturbed tor such an assembly. This means further delay for a long-awaited event, which, I believe, is necessary to bring Europe into line to recognise th© trado wheh is, fighting for its custom. | I think tho Italian Government is to Lb© approached next to issue the invitations to this meeting. There is also on foot an enquiry for the purpose of finding out what can be don© to arrive at some basis of international insurance. 1 The International Association of Refrigeration is soliciting opinions from the various Th© path is a long on©, but tho realisation of somo international arrangement would b© an/enormous boon to trade, and the frozen meat industry more than any. DAIRY. ; Thero is littlo doubt about a distinct 'improvement in the butter market having taken place, though all parties do not seem unanimous on this point. Tlie reason for tho better aspect is quit© a natural one; th© hug© stocks of Siberian in cold store have been thinned down, and France's late production has given way to what one may call the legitimate trade of this period. New Zealand prices, at 116s to 118s, are still on the rise, and there is no reason to doubt a good spell ahead. The colonial cheese trade at the moment is rather a dragging one. New Zealand being a slow salo at 59s to 01s. Th© latest consignments, however,ar© making an excellent impression on the market, being declared to be in advance of anything yet seen at this time, both :n texturo and otherwise. Canada's future export is thought to bo rather short.