SHORTAGE OF BEEF

Press, Volume CIV, Issue 30809, 22 July 1965, Page 21

SHORTAGE OF BEEF

Easing Not Likely (N.Z. Press Assn. —Copyright) LONDON, July 21. Hopes that the shortage of beef for world trade might ease a little in the second half of this year were now looking a little premature, the “Financial Times” reported. A critical situation was developing in the Argentinean beef industry which would disrupt shipments from what was traditionally the world’s largest exporter. Exports from the Argentine would go down rather than up, and the effects of the drought in Australia should soon begin to make themselves felt. Already cattle losses in some Australia States were heavy. Last week it was announced that the two big United Statesowned meat packing stations in Argentina had been forced to lay off most of their staff for 30 days. Last year the meat-packing industry lost nearly £10,000,000 and it was losing money at an even faster rate this year. Argentine meat exports in the first five months of this year were down 23 per cent compared with the same period last year, and recently the main packers announced they would have to reduce shipments to the chief export markets by a further 30 per cent.