FROZEN PRODUCE.

Press, Volume LXIII, Issue 18917, 4 February 1927, Page 12

FROZEN PRODUCE.

BEEF WAR RUMOURS. THE MEAT YEAR. (IROM oil: sI'HIAL > e.RRKM''-'NI'EKT.) LONDON, Dv. ember 7. ■ Tii. in';. !i-:;i-"i—•! meat war among the South Ai-i-i-i'-im .-polling o.mpanic, has 1..-.ihic. lv its long continuance, a well-uon> top:,:. Periodicallv tlit: is given a new •»- t'erc-t hv pubh-ation "I a cablegram, or utlßi- np-j "t I'n-" (.ommuiiniuc,. .larkiy Innuii- :.L some '*" llluVC °" tii.: pan vi lii'j participants mi ibis struggle. The liit'-i i-inimuMicanon oi this Mild, this tunc irom Chicago, via .New Vork, rather out usance, pioviou., llle.-.-ages Ml Hi'- boldness Ot Its statement. Not content with broadcasting an approaching settlement between the meat exporting eumpanie- in the Uiver l'liitc. tiiu me.-sage i.ibia that Yc.-tc.v are retiniii: Horn the packing business, and in future will be obtaining their meat through C'hicajz'i. T«> the man m ihe trade this piece, of new.s i, rather humorous, i-s it has become pretty apparent irom the later history ot the Y.'-K'v enterprise that, not only has that big ISritHi combination no intention nf retiring from the meat arena, but that it has by its iiidci>elident policy in the Hivcr Plate secured for it--'lt an extremely strong position ;h compared with its American compctitor-. Its strength largely lies in its concise ownership of a refrigerated fleet as well as freezing works and retail meat .'ops in Britajn. and, also, numerous cold storage warehouses. Mr Jan. ■ Cain!, the chairman of the S'raithfield and Argentine Meat Co.. Ltd.. speaking at the annual meeting of that concern in London last month, stated that before the present differences arose, the firms interested in the Argentine meat trade consisted of three large companies—two American and one British—and three smaller companies—one American, one Argentine, and themselves, wholly British. Before the break-up. Hie proportions of the trade were held ax to 58J per cent, by the three American companies, and 11J l>er cent, by the others. Chicago's Statement Denied. The denial of the truth of the Chicago message was soon forthcoming irom .Messrs Vcstey, who, aithougti generally disinclined to indulge in communication.*- to the public Press, not only gave the lie direct to the allegation from Chicago, but also nailed the lie to the counter with specific reasons as to the absurdity of an enterprise such -..-i they possessed, including ships and shops, taking such retrograde steps as to yield up the means of securing their meat for the vast business. The fart that the Blue Star Line, which is Ycstey's Company, is now welladvanced in the building of seven new refrigerating vessels, which are said t> be the largest and most up-to-date craft of the kind afloat, certainly lends point to this dementi, and the reader is left wondering how it is that such an aggressive statement as that emanating from Chicago could have been conceived. It is unlikely that such a canard could be traced back to other than a wild journalistic authorship. Messrs Swift and Company, in London, have, in dissociating themselves front all knowledge of the origin o( the report, added their own conviction of tho foolishness of the information, and so the incident has passed. The episode, however, has served to show what a world-wide and keen interest is felt in the subject of Argentina's beef supply to Britain. The first mention of the idea of tho "war" coming to an end immediately provoked many private enquiries across tho wean as to the possibility of a truce, and the reason for this is not far to -seek. A limitation of the imports of chilled l»eef into Great Britain would immediately influence the fortunes of several great sections of the meat trade. Even the home beef raiser and fattener would feel great relief from a period of heavy losses, and his recent ideas of the prospects in this direction have been expressed in the quotations for store cattle often being higher than for fat stock. In its turn, cheap home cow beef, always in evidence nt this time of the year, has been depressing the general market. To conclude ones' observations on this topic, even if a settlement among the Argentine exporters were to occur soon, there is not n man in the trade who would, with, the contending forces as they now are. give two-pence for the prospect of any permanent agreement between the contending giants who are obviously out to wear each other down.

The most interesting statement that ono hears is to the effect that the strngglc is really hardest between Swift and Armour, who. although compatriots, are the hottest of competitors the- one with the other. The Past Frozen Meat Season. The concise retrospect of the past frozen meat year which one is afforded by the annual report on the trade just issued by Messrs Gilbert Anderson (Subsidiary) Ltd., is both interesting and instructive. One always welcomes the advent of this report, which is dated earlier than the other annual reviews of the sanvs market. Most people have written off 1926 as a dismal period so far as frozen meat business has been concerned. That is certainly the general atmosphere ruling here. Hie careful student of the real position, however, will have some qualifying observations as to this. While it is true that in the courso of the year prices of New Zealand lambs fell to low levels not hitherto touched since the end of 1921, it is only fair to Britain to bear in mind what amount of meat was unloaded on to a market which surely had enough trials from strikes and general trade depressions without any undue load of marketings. In the 1925-192b' season the 2,400,000 carcases of mutton and lamb received from Australia ajone represented an increase on the arrivals from the same source in the previous year of over 1,100,000 carcases. NewZealand's own quota of mutton and lamb, more than 7} million carcases, represented a carcase increase just about the same as Australia's advance on the year. In view of this, the fact that Canterbury mutton ended up this September at 6 5-lGd, the average wholesale price for the season being OJd as against 8 5-lCd the year before, may not perhaps be counted so bad, neither in the case of Canterbury lamb, the finish-up of 9 3-Sd, with a season's average of 9 13-16 d. as compared with 11 15-16 d a year before. The Immediate Future. Tho question is: "What of the immediate future?" He would bo a bold man who would rashly speculate with firm views, and I fancy some prognosticators mav take too honeful a view of the likelihood of a quick revival in prosperity, now that the intense Labour troubles of the country are in tho background. It would be foolish to take too rosy a view. Meat consumption is at least 20 per cent, down from normal. Although trade may quickly revive, one must remember that there will probably be the half a million collier workers who will not go back to their old job, and also that the Government's inevitable effort to reduce tho numbers of people living on the dole will at first cause greater penury among those immediately affected. New Zealand meat, of tho" primest sorts, will have a better chance, therefore, as going to the most fortunate classes, hence 1927 should be once more essentially a season for top grades and light meat. Between that and secondary and third rate supplies there may bo a wider margin than ever.

LONDON WOOL SALES. BRISKER COMPETITION. FT CASM rr.FSS ASSOCIATIOH-COrTRIGBT. .AVSTiI.'.LIAS ASD S.Z. CABLE ASSOCIATIOS., , IleecivcJ February 3rd, 0.2j p.m.) LONDON, February 2. Th.' v <■■:>! w!c< have- closed. Competition thr-"iglf:u: was more active than for many sale* pa-t. The German demand domi-av f.| the i:ieriii"S, and the Home trade operated keen!;- f->r rrt-ssbrcdi and slipes, while French !"i;Mip showed a reserve. Of the I-J 1,000 bale' catalogued, there were solfl to the Home trade 42,000, to the Continent ,":!.3no, and to the t'nited .States 3000, while 217.300 hales were held over. Best merinos v.rre fullv 5 per cent. above December rate-, v ii:!e medium and common grade* v.rr" very linn in tho se!'er3' favour. Finer advanced 7= per cent., medium and he.ver L-r.'dc3 par to ,"■ per cent., and higher ?eoureili and <!ipi?s the same. Lambs' were ii'i'c- (hanged, best iirru, and faulties being incguiar. Dji.-My and Company have received the following ca ; .i!ed advice- from London: The wool >.i>3 closed firm and active, with bri-l-c competition, French buyers operating freely. German buyers were less active and tho Home trade was buying steadily. As compared with last sale?, scoured good merino was a Id to '2d higher. Other descriptions of Bcuiired merino were, from par to l;d higher, creasy good merino Id to 1M liisrher. Other dr.-criptions of greasy ineiino were from par to Id high-jr, greasy haltiired id t-> 1M higher, greasy fine ctossbred VI to Id higher, greasy medium and roar.-c crossbred par to Id higher, pieces id to Id lusher, neon red crossbred unchanged, flipe par to Id higher, and lamb Id to lid higher.

The oiTerin;;:' totalled J2:;/)K haled, of which lHa.K'i'J bales were told, the Continr.cnt takin.' SC,.'>OH. Home trade 43,31:0. America 'Mf, carried forward 25,."i00, of which l'-,O"0 halts wero not offered. Tho following is the range of prices realised :—Halibred, 36-3S's, good to Btiper 22'.d to 2'kl, low to medium ISid to 21Jd; hal'brcd," SD-JG's, good to super Bid to 23d, low to medium 17d to 19d; fine, crossbred, 10-.lo's, good to euper .10id to lsJd, low to medium lid to Kid; fine crossbred, 4G-18's, good to super loi'l to Kid. low to medium 13V1 to 13d; crossbred, 41-lt;V, good to euper lljd to lCd, low to medium 12ld to ltd; crossbred, lull's, good to super lid to 15d, low to medium Hid to 13id; roars* crossI>red 30-ln's good to super 13d to lid; low to medium lid to 12fd. The New Zealand Loan and Mercantile Agency has received the following cabled advice from Loudon:—A* compared with last sales closing rate*, price* arc about par to 3 iicr cent, higher for scoured merino super, coar3e greasy crossbred, merino lambs, marae crossbred slipe, scoured merino medium, coarse scoured crossbred, ami about 5 per cent, higher for crossbred lambs, greasv merino medium, greasy merino inferior' medium scoured crossbred, fine crossbred '(-lipe, medium greasy crossbred, fine .•i.-i-v no-sbred, medium crossbred sbpe, and fine scoured crossbred. About 5 per cent. to -'. per cent, higher for greasy menno super, merino faulty neglected and lower price. Competition ou Continental account is active. There was good demand for crossbred wools and topmakors sr.rU for the Home trade. The sales closed firmly 10-dav. The prices realised for average to. super" grades of descriptions .. hl« w „, follows:-Crossbred. 36-58. Mid to 2»iH 5...56. JM to 21 Id: 48-30, Md *o -H, 48-I8 lid to I0d; 11-IC, 13d o lod; 40.1, 12Jd to lid: 3C-W. !-d to Wi"-

FEILDING RAM FAIR. MARKET OVER-SUPPLIED. ASSOCIATION TKLKGRAM ! FEILDING, February .1. The *Vildin S annual ram fair waa opened to-dav 2000 Kearney and Southdown flock and '- «d rum., bcin ß offered. Tho btdd.iw showed very little spirit, tho opinion be"* expressed that, too many rums wero bcin 0 placed on tho market. P Tho hfehert price for a rtud« - m.;*«.»« for b ram offered on lenau ci Mr II! A! Sfalthewe (Fe.thei.ton). tho buyer I>,miil' Mr J. Henderson (Marton). The Shit prieo for a flock R«««wy «» 22 guineas, for a .ram eold on behalf of Mr W C. Small (Fcilding). The sale will be continued to-morrow. HAWARUEN MARKET. The !.ir?esl lamb mlc of tlifl*proscDt season in North Canterbury took place, at the Hawiirdon vards yesterday. The entry comprised 1100 fat 'lambs. 1103 forward and store lambs. 123 fat ewer-. 62 fat wethers, and n line of S3 ewe., and 54 lambs. The factory buvers competed freely, and all but three small lots of the fatb were disposed of, the prices obtained for the lambs being rather bettor than schedule rates and those for the ewes and wethers a littlo nnd "- There was al*o good competition for the stores in spito of tho continuance of dry weather, and prices ruled at a satisfactory level, a complete clearance bcint; made. Fat I.ambs.—K. W. Johnston, 83 at -.j& 2d 08 at 25a 8d; T. D. I-ance. 8 at 25s Id; P. It. Ktubberflcld. 3R at 26s 7d: J. Vf. Warwick. 03 at 25s 2d: V. D. Bishell. 50 at 265; W. Pcarce, 20 at 21s Id; estate late B. M. Shaw, 36 at 21s: P. B. Daliell, 53 at 23s Id; Cox's Estate, 50 at 225; F. Holder, 41 at 255,'4 at 25s 6d; J. Bently, 12 at 24s 2d; B. h. Iloban, 63 at 25s lid; 74 at 26s 3d; J. A. Ko!!», 66 at 265, 50 at 25s 8d; T). Bishell, 58 at 21s lOd; Pilcher Bros., 31 at 24s lOd: IJ. J. S. Brice. 10 at 24s 4d. Fat Wethers.—J. A. Rolls, 49 at 255; G. Rutherford, 11 at 225.

Fat F.wes.—F. B. Dalzell. in at 13s Cd; B. L. Hnhan, 33 at 14s; Pilrhcr Bros., 15 nt 13s 4d; R. .T. S. Bricc, 25 at 12s; T. D. Lanro. 7 at lRu Id.

Stores.—lßs wether lnmbs at 16s 3d, 387 at IHs Sd to 18* Od, 402 at 17s 2d to 17s 3d, 130 at 19s 3d, 52 at 20s 3d, 180 at 13s Id. 15 at 14s sd. and 65 ewes and 54 lambs at 12s 'Jd all counted.

SOUTHLAND MARKETS. (special,™ the pbess.) INVERCARGILL, February 3. There is no change to report in tho state of the oats market. Current f.0.b., a.i., values arc about 3s 3d for A grade and 3s for B'a. There arc, however, no offerings by Invcrcargill merchants at these prices. It is reported from Canterbury that there is an abundant crop and that the oats aro being harvested in ideal weather and are of first-class quality. New season's rata aro t'.ill offering in Southland, and it will probably hi v.eli into March before any samples arc available. to farmers, on tho basis of the f.0.b., s.i., prices mentioned previously will bo from 2« id to 2s Sd for A crado and 3d leas for B grado. Wheat—lt is reported from Canterbury that there is a good supply' of wheat, and lower prices aro expected, especially in view of the cheap quotation from Australia. Tho area of wheat in Southland is sot large, and it will probably be two or three months yet beforo many samples aro available, as it is considered a good policy to stack Southland wheat before threshing. Values to farmers aro about 5s 6d to 5s 9d per bushel. Chaff—The chaff market is well supplied, and in the absenco of a shipping demand merchants aro not keen buyors. To-day's values to farmers are about £3 10s to £3 15s a ton. Ryegrass—This market continues dull, and eo far no demand eeems to have sprung up. It is possiblo that business may be done for shipment later should merchants be nblc to quote competitive pricos for new season's seed of good qnaiity and germination, but to enable business to bo done priecs to farmers will have to bo on a basis of 2s per bushel or under for perennial ryegrass. Is 9d to 2s for Italian. " Potatoes—Business in tho potato market is practically at a standstill, and there is nothing to report at present except that the action of the Australian Government in prohibiting the importation of New Zealand potatoes has had a lowering effect on the market for delivery from April to June. Southland merchants as a rule do not ipke a process of selling forward, and Uttle business, with the exception of local consumptive demand, wi'.l be done with tho main crop, which should be available about April. WEST COAST STOCK SALE. (special to the press.) GUEY.MOUTH, February 3. At the Kokatahi sale the yarding comprised 2 horses, 40 sheep, and 233 head of cattle. There was a good attendance of graziers seeking good steer lines of cattle and competition was equal to the best for many years. In consequenco of tho abundance of feed during tho summer, thcro was a good entry of dry, forward, and fat cows, which sold quite equal to Arahura prices. Goo«l two and a half jear steers made £8 Ts 6d, 2-year strrrs £G, IS months to twovesr steers £3 H's to £t 17s 6d, fat cows to £9 7s 6d, fat heifers to £6.

CHRISTCHURCH STOCK EXCHANGE. YESTERDAY'S TRANSACTIONS. S\i'r- :<-i;crted ; Bank oi Auslrala-tia. ill 't 6J; I'nion Bank of Australia, i'ls (>... £l'> 's; National Insurance, 71s; South British Insurance, 5Gs Id. Snlcs on 'Change : Comm. Hunk of Austmlia icmn tiiv., cum rights-, 33s 3d; Cmimi. Bank of Sydney, ±26 10s; Bank of N.Z., 53i -id t'.hrcc parcels; I'liion Bank. £ls C.v. Western Aust. Bank, s*.t: Queensland Insurance, 53s Gd; Christchureh Gaj ;cum d;v. : , 23s 9d. LATEST QUOTATIONS.

. OTHER EXCHANGES. (mss isEocunoa Ttuiaum.) AUCKLAND. February 3. Sales—Soldiers' Bonds, 1933, £lOl ss; City of Auckland Debentures, 1940, 5J per cent., £97; New Zealand Insurance, 37s Cd; South British, 56s 3d; Auckland Gas, 23s 9d; Northern Steamship, 13s Cd; Taranakt Oil, 9s 6d; Wilson's Cement, 36s 3d; Moanataiari (con.), 4s 4d: Lucky Shot (con.). Is Cd; Waihi, 12s; Mount Lycll, 28s 6d. WELLINGTON, February 3. Sale-Huddart-Parker (ord.), 47s 3d. Sales reported—Union Bank, £ls 6s; Wilson's Cement, 36s 6d. DUNEDIN, February 3. Sales on 'Change:— New Zealand Kcfrifferating (paid), 13s 9d; Dominion Rubber, 495. Sales reported:—E., S., and A. Bank, £8 6s 6d; New Zealand Breweries, debentures, Sis Id. INVERCARGILL FRUIT MARKET. (SPECIAL TO THE PBESS.) INVERCAIftHLL, February 3. The past week has been a very busy one ia the fruit marts, the demand generally proving equal to tho supply. The supplies of stone fruits are much lighter than they have been for some seasons past, with the result that prices have been well maintained. Newseason's apples and peara lire now coming forward in fair consignments, and are meeting with a very satisfactory denand. Tomatoes are very scarce, this beinj the period botwecn the glasshouse crops and the outside grown article. Outdoor grawn toraatocr, arc later than usual, and owing to the wet weather experienced during tho planting-out season, many of the growers lost a number of their plants. Supplies of bananas aro exceedingly light, and those offering havo realised high prices. The same practically applies to oranges. Lemons, i>n the other hand, arc fairly plentiful. Vegttablcs are in fair supply only, and are meeting with good prices. Prices for the cun-cnt week are an follows:—Peaches, crates to 81d, boxes 3d to sd; apricots, crates to 7d, boxes to 6d; plums from 3}d to 3d; bananas to 37s 6d .i case: navel orsnges £2 10s for re-packs: lemons to 10s for re-packs; green peas ljd to 2Jd; marrows to 2jd; cabbagss Is 6d to 3s a doz; lettuce no demand.

N.S.W. MARKETS. (ST CABLE—PRESS ASSOCIATION— COPYRIGHT.) (ACSTBALUS AMD n.Z. CABL.It ASSOCUTIOSr.) 'Rcc"i\ed Fcbrunrv 3rd, midnight.) SYDNEY, February 3. Wh^at—l» Cd to 4s 7Jd a bushel at country station;, equal to as il'l ex truck, Svdnev. 'Flour—£ll 10s to £l2 10s a ton. Qat.j_T3srrlr.nian White Giants 4s 3d a bit?hel, Algerians 4s. Maiie-Ts Cxi to Ts Sd a busbcJ p o 4jtocs—Tasmanian £lO to £ll a ton, Victorian £lO. Onions—£lo a ton.

Buyc ■rs. Sclic: :3. £ 6. d. i G. d. :;:/.. <;u\t, ukbkntcr E.v _ 4j per cent. Inscribed, jo;w 96 5 0 ._ •ij jicr cent Inscribed, 1939 — 0G 12 6 ij per cent. Bond?, 1933 m .1 0 36 13 0 4>. per cor.l. Bond?, 1939 % 10 0 07 0 0 5 nrr cent. Inscribed, "jii.-j 38 5 0 9J 0 0 5 per cent. Bonds, 19:27 00 .1 0 90 10 0 5j per cent. Inscribed, lira 100 7 G lot 2 G ;i i.er cent. Bonds, lies m 2 6 101 7 C LM'HKI! DEBENTURES X««' Brighton Borough, 5f per cent., 1933 — 101 <» 0 Chri?:churc*i Drainage, 5} per cent., 1973 ._ 101 0 0 Cliriatchurrh City, 5J per cent., 191G 100 2 fi l'U 10 0 Makerua Drainapv, (> per cent., 19IG — 101 0 0 Cliristchiirch Drainage, 5J per cent., 1938-73 9G 0 11 97 5 0 N'.'/j. Breweries, Bonds 1 •1 3 — BANK*Adelaido 0 5 0 9 12 G Aust. Bank of C0111111. 1 12 0 1 13 0 Australasia 11 5 « 11 8 G Comni. of Aust. (cum div, cum ri^bt s ,i .. Coram, of Aust. (cum div, ex right?) 1 13 0 1 13 6 I 10 0 1 11 3 Comiu. of Aust. (rights) 1) n 3 0 0 7 Comni. of Aust. (pref.) l> 18 t) — Corutu. of Sydney 2fi 7 6 2G 10 0 Comni. of Sydney (rights) !1 17 I! 12 7 G K., H., and A. 8 G 0 8 S 6 National of Aua'.n!as:a (£10 paid) 18 1 G 18 7 G National of Australasia (£5 paid) n 2 G 9 R 0 National of N.Z. 7 1 0 7 3 0 New Soutb Wales 1H 5 0 18 13 0 New Zealand 2 19 i 2 19 G New Zealand (Mortgages shares) — 0 1-2 0 Royal (£1 paid) ] 18 fi 1 19 6 L'tiion of AuBt. 15 0 0 15 fi 0 Victoria (ord.) 10 2 G 10 7 0 Victoria (pref.) — 20 13 0 Western Australian 2 IS 0 2 18 3 INSURANCE— Mercintile Mutual 1 C 0 I 7 3 National 3 13 0 3 It 0 New Zealand (cum div. ) I 17 1 1 17 5 Queensland 2 IS r. 2 IG tt South British 2 lti 0 2 IG 8 Standard 2 16 1 2 17 1 LOAN AND AGENCYDalgcty and Co. ]■". 4 0 15 G fi Goldsbroiigh, Mori 2 10 5 2 10 7 Mutual Boneftt 12 0 0 — N.Z. and Hivcr Plate I 4 0 -- Permanent Investment 10 5 0 10 15 0 SMPPINGHoward, Smith 1 12 3 1 13 0 Jfuddart-Parker l! 6 i> 2 7 9 Union (pref.) 1 0 0 — FROZEN MEATConterbiiry (pref.) 4 10 0 4 IS 0 N.Z. Rcfris. (contr.) .. 0 6 0 0 U 3 WOOLLENS— Kaiapoi (17s paid) n n •; 0 10 6 Kaiapoi ("s paid) 0 3 5 0 4 - Kaiapoi (pref.) 0 IS u — COALWcstport — 1 13 6 GASAuckland 1 2 9 I 4 0 Christchurch (cum div.) l 5 6 1 G 0 BREWERIESManning 0 19 9 1 0 3 New Zealand 2 It 0 2 12 3 Staples (01 div.) 1 17 0 1 18 0 CEMENTSWilson's 1 16 2 1 16 5 M1SCELLANE0USAllierl Motors — 1 5 6 Benth and Co. 1 It 0 1 12 6 British Tobacco 0 12 7 2 12 9 Burns, Philp 2 I) 3 2 0 11 Colonial Sugar 5G 17 6 57 10 0 Denial and Medical — 0 17 6 Dunlop Kubbcr 1 11 0 1 13 0 Electro. Zinc (ord. cum div.) 1 1G 0 1 17 0 Electro. Zinc (pref. cum div.) 1 IG 5 1 IG 7 Glcnmoro Brick ami Tilii 1 r, 0 — Jlcnry Jones Co-op. 2 0 0 2 9 8 Humo Pipe 0 17 0 1 0 0 Mason. Strutlicrs (£1 paid) 1 1 G 1 2 0 Mason, Strutlicrs (10s paid) — 0 11 0 N.Z. Farmer*' Co-op. (CJ per cent. Stock, 1930) — £0 0 0 N.Z. Farmers' Fertiliser — 4 12 fi N.Z. Guarantee Corpn. 0 10 3 0 10 5 Whitconibe and Tombs 3 10 r, — N.Z. Malay Rubber .. 2 0 0 2 10 0 MINING— Kawarau — O 3 9 iMt. Lyell 1 8 5 1 8 7