N.Z. BEEF IN AMERICA

Press, Volume LXXXIX, Issue 26971, 21 February 1953, Page 7

N.Z. BEEF IN AMERICA

HOUSEWIVES TOLD TO STOCK UP

(Rec. 11.30 p.m.) NEW YORK, February 20. New Zealand beef, which has made front page news across America by causing bargain riots in the last two weeks, will soon disappear from the American meat markets, a Government authority predicted today. Mr William Hill, chairman of a House of Representatives agriculture sub-committee, discussing the sharp drop in American beef prices, advised housewives to stock up nbw on beef. “American beef is not going to get. any cheaper, and the New Zealand beef will soon disappear,” he said. Long before they had heard his advice. housewives this morning were out in many parts of the United States snapping up New Zealand steaks at bargain rates. Before his sub-committee went behind closed doors for its discussion, Mr Hill told reporters: “The fellows who shipped that frozen New Zealand beef are taking a real beating on prices. We don’t expect any more of it to be shipped m.” His sub-committee has jurisdiction over livestock matters and it investigated New Zealand imports this week after American cattlemen had protested. Sub-committee members concluded that the beef is being sold at a loss in order to dispose of it. “I think the problem is going to solve itself,” said Mr Hill. “There is no big amount of New Zealand ’ eef here, and all of it must be sold soon because it won’t keep much longer.” A meat industry spokesman today agreed with Mr Hill that most of the supply gone. Swift and Company, a large distributor of it, said it and five other major packers had sold between 50,000,000 and 60,000,0001 b since January -9.