FROZEN MEAT TRADE.

Dominion, Volume 1, Issue 99, 20 January 1908, Page 10

FROZEN MEAT TRADE.

- ' AMERICAN^-COMPETITION. w The Minister for Industries and Commerce has' received the following roport. from the Produce Commissioner-- in London,- dated NotVSmbeß2B,.2l9d7t~s.!.CiiJ?. it Por some considerable time it has been grow'ing more ■customary-in New. Zealalid 'to depend to a greater extent on the development. of the -lamb-trade ; than oil the mutton trade-in this n country. . Competition in frozen lamb lias not been so keenly, felt as in mutton.- -.Australia cl has..not.so.far produced lambs stifficiont, either ■in .(iuanfit}; 'or ([Uality, .to affect New- Zealand greatly, while it-appears to'be: accepted by growers in th'e dominion that River-"Plate Will never ~be__a_ dangerous rival, the' tapabilities of that enormous and ;rich pastoral couiitry being regarded -as specially suitable for beef n anil- mutton>• exportation. Besides, the trade in frozen,ibnib .specially appeals to the retail trader-in' other commodities than meat. Iho j grocer—whether doing:a.large or small trade— finds frozeni'lambiaitreasy line to handle. He can sell it in quarters, for tlie shop assistant j who. to. the bacon or egg. counter can easily - cut' a" carcass, in. four, aiid customers' orders can be senti.ou.t /with the ordinary goods in the delivery cart. So , a considerable nddi- | tion is made to the shop turnover, - without any.noticeable,increnso in expenses, whilo the profit, even selling at . a pric-5 below that .charged by .the is satisfae- t tOry. : '' Consequently ' the';' Ne w: Zealand lamb t .trade/lias fibenVshowi'ug a steady and 'satisfaetory eipa'nsipn.,7 ' 1 i With the trade in' New Zealand mutton, however, such satisfaction cannot be expressed. It "is'true'that values' during the past three yoars have been more satisfactory than they previously. were,' but. there has not been that growth in distribution-inutile retail trado that could be desired. Steadiness, rather than increase, .has been,, the feature of the trade. Although "tlie ' margin in price, between Now Zealand and liiver Plate mutton lias been greater-ot'"'lato-than-it was some tinier ago, it is fully recognised'that tho valne of tho former is_ largely... governed by. tho market price of the' latter! From' present indications it would '.appear .t'hat'.tliis.'uusatisfactory' state of affairs is not likely soon to bo improved, but, on tho other hand,-.rather, to-be. intensified. For a considerable tim'e ; thb. large American meat , companies that have developed an itnmouse and extended trade in cliillea beef have been increasing their supply to their regular customers ' of' l^ew' Zealand' mutton, and so have helped in its'distribution; The States chilled beof has now a' deservedly high repute.- For many years" it has been'"tho desire of some of those keen traders to have NeW Zealand mut- : ton'associated "and retailed with their chilled beef,-'and-with; this object their agents have made purchases of the mutton on behalf of . their clients." It hns been rumoured on more tfann. oiio occasion that -North American meat companies have endeavoured Uv gbt a footing in New Zealand in order to secure regular 1 supplies, but "it would appear that they .have : been: unsuccessful .-in their efforts; That they . have" been determined"- to see'euro mutton supplies, .however, is now: evident., for recently ■ Messrs.'Swift, one-of tho strongest and most energetic of. these., companies, have acquired the La Plata Freezing "Works in Argentine, and have commdnCed the importation of River Plato mutton 1 " on'their own account for the supply of their retail customers. This firm has now distributing depots in all the chief contres -of the -country, and if the example set is followed ,by I'other North American meat companies, it is'apparent that such competition in tho mutton trade will bo established as must reflect very detrimentally on tho New Zealand trado. At tho present- moment it is reported that two other companies are following Swift's example, and have purchased interests -in Argentino Freezing Works. . ..-. . .. DAIRY. PRODUCE, The Minister for Industries and Commerce t has-received the following report from tho | Produce Commissioner in London, dated Nol vembcr 29, 1907;— The-seasou this year for New Zealand butter I has opened with even hotter promise than that of twelvo months ago. Early arrivals from all sources .have, been lighter than then, v ,and as. stocks.: tliat ;h{id jbeen accumulated in Cold Air Store during the summer had been steadily reduced,-the market was much barer '•'of 'supplies', and 'consequently more dependent t on shipments coming forward than was the ' caso last year. ' . 1 Tho shipments by the s.s. Athenic and : Corinthic have been .-the... two first of import--2 ance of butter made.from New .Zealand. Both these were delivered in. good order and conf d'ition, and'appear to;.hjrtj : c been giving entire t satisfaction to those handling them. I have 1 made extensive inquiries amongst merchants t concerning the quality of the different lots r ' handled, "but: nowhere ■-hoard any complaints 1 of the quality of the brands. Oae or two ol -! the ageats, ill fact, have said that if any o - ilifre'renco '-is-ho'ticeabre' : it is rather in favour t of this year's make. There would appear t" c be'-rather -more-boxes-bearing second grade a .brand in these, two shipments than tho pro-i ~ '.portion' noticed last 'season. It may bo that i- the "lading in the colony is a little more O stringent than formerly, and that possibly butd tor tiiat hitherto had just managed to pass the •s -fiS-poiilt standard by receiving tho benefit of J- tho doubt, has now been placed in second h grade "' If this is so, there can be no doubt r- it will bo beneficial, in raising the standard •o 'of New Zealand "butter on the market here, i- New.. Zealand butter has como to hand it earlior this year than in any previous season, Is and has participated in a prieo higher than w usual. Compared with the price made by last $3 year's first shipment, the value is -Is. per ewt. r- "renter. It is unfortunate that the accident it to tho s.s. Tnrakina prevented that butter 1C reaching the Home market, as it caused a ix break in the supply of Now Zealand goods iff that was regrettable. All good butters are of keenely in 'demand, and no difficulty is exnorienced in disposing of them. In fact, tho [>r -trouble sconis to bft to manage to keep nt cient supplies on hand to keep the market Is. regulfirlv until thc.nrrival of the next Fteamer. »h From 116s- to -1225. Ims been made for Now is, Zealand butter, very few lots being sold i\t lls the "lower quotation, while the higher h&3 only

been secured for a few selected parcels. 118s. may bo given ,us tho "average quotation. At the present moment the market is particularly firm, and thero are many ready purchasers. Consequently there i 6 every probability of 118s. being easily maintained, u not, increased. Business generally, all oyer the country, is good, and although the stringency of the money market at. present affects , all concerned, I consider that the outlook for the trade in New Zealand • butter is unusually promising. There is little < likelihood of the j market receding before Christmas. After that timo it is probable that, as usually happens, there will be a reduction in values, but I do not anticipate from the information I can gather from all sources that there is mucn likelihood of any big drop in priccs. i The first shipment of New, Zealand cheese for this season came to hand by the s.s. Corinthic, being delivered in good order and condition. Unlike that for butter, the demand for cheese has not been brisk, consequently, although placed on the market last week, » large portion of the shipment still remains unsold. The Canadian market, said to bo caused bj' the stiffening of money, rates, has shown signs of growing weakness, and offerings from there are now freely reported at 00s. per cwt. for | botli white and coloured. cheese. Naturally, I buyers here, recognising this, downward tendency, have ' been hauging back, expecting prices to still further gradually recede. Isevf Zealand, ex Corinthic, has been offered at 605., but without attracting many buyers, and • it is reported that soma holders have reduced their, quotations to 585., # owing to the slow trade that has been experienced. The quality of the cheese received by the s.s. Corinthic has been well up to that expected in early cheese, although, irregularity in some instances has been "reported to me.

BIG RIVER. Reefton, January 19. ■The mins manager of the Big River reports that during the week No. 9 level south lias been extended the required distance to m ake a connection with No. 8 level, lie has started to rise to meet the bottom of the eastern winze, sunk from No. 8- level. In the. leading stopo there is an average of 10ft. of stone of good quality. In No. 2 level he has started to take off a leading stope on stone varying from Ift. to 2ft. in width. Forty-five tons ot stone have been broken for the week, LIVE STOCK MARKETS. Messrs Hudson and Easther, of Shannon, hold their fortnightly sale of pigs on l'riday. There was ft large entry, and an especially keen demand for baconers, which went at from X 2 ss. to.£2 lis.; heavy porkers at from 31s. to 355.; medium porkers, from 28s. to 305.; light porkers reached 27s.stores and wenners were sold at 19s. and 12s. Od. respectively. All the primo bacon pigs were bought by the Christchurch Meat Company for their Woodville factory. . ' _ , At the I'ahicctua pig sales held on Saturday there was a very good yarding, and most lints were of exceptional quality. attendance was good, but buyers showed little inclination to operate, and consequently prices were not so good as might'have been anticipated, bma l weaners miide Ts.; slips, Us.; stores, lCs. 3d. to Messrs. Dalgety and Co., Ltd., report on their reilding-.sale of Friday as • hail a fair entry of sheep and a small entry of cattlc. Owing to the continued dr.r weather sheep were hard to quit. Our principal sales were as followsl and G-tooth Romney crossbred ewes, 135.; Romnoy-Lincoln crossbred, i and G-tooth ewes, 13s. 3d.; mixed yearling to 18-month- steers and heifers, 50s. _• Messrs. A. H. Atkinson and Co., Ltd., Feuding, report on their' Friday sale as follows:— A large entry of pigs came to hand, for which' competition was not as keen as last week, and prices were easier, rough sorts being neglected. An average entry of poultry sold-at late' rates. A large entry of produce was well competed for and realised satisfactory prices. We quote' ' Horses—Aged, half draught, .£3 paged draught, ,£G . 10s.; aged gelding,. X 4; buggy, horse and harness, XG 10s. Pigs.—Weaners, Gs. !)d. to Bs.;- slips, Ss., lis., to 12s. 3d.; small stores, 14s. to 153.; good, 225. to SA 17s'.' lid.; porkors 235. Gd. ' Poultrv.—Young roosters, Bd. /to Is. 3d., roosters,'ls. Bd., Is. 10d.,'25. Gd.; hens. Is. 3d., 1? Gd., Is. 7d.; ducks, Is. Id., Is. 10(1.; geese 2s. 3d., all at each. Produce.—Potatoes, new, 3|ilb., 2s. 6d.; sacks, 125.; rhubarb, Gd. per bundle.

BANK,OF ENGLAND RETURN ', ir lEI,EGBiPn—ntESS ASSOCIATION— copyright. London, January 17. The Bank of England return issued for tho week ending Wednesday, January 15, is as under: — Issue Department. Koto Issuo £53(159,000 Got. debt £11,015,000 Other securities ... 7,434,000 Gold ... 34.7J 0.000 £53,159.000 . f53,159,00a Banking Departuemt. Proprietors' Govt, securicapital £14,553,000 ' tics ... £14,332,000 Public de- Other socari- ' posits ... 4,476,(100 ties ... 25J1U000 Other do- ... positß -... 41,546,000 hotcs ~. 24,76^,000 1 Refit, 7-ony . - and other Coin ... I,OS-,COO bills ... 3.533,000 £07,110,000 ' £07,U0,<*00 The leading items of' tho Bank of England return afford' the following comparison:— This wock. Last weak. Last rear. Bullion 34.710,091 33,7128.000 31.058.03 D liescrva -25,837,0(0 24.i73.0M 52,553,r«0 • Nolo circulation 28.37J.003 28,948.000 23.010,0)3 . T'tiblio Uojiosits , 4,476,003 smfiOD 5,817,000 Othor Deposits -4i,545,0C0 d0.181.0C0 41,003,000 Proportion of l-eEcrvoto liabilities ... 52.C9 43.13 4a.29 GOVERNMENT SECURITIES. The following aro tho latest quotations for Government securities with a comparison of those ruling last week: — Variations compared Price . vUh In fit week. ■ £ b. d. Si % Imperial Consols 83 15 0 Unchanged 4 N.B.'VV. 1003Jnn.-Jilly ... 105 30 0 ss. h«jhor 34 ~ N.5.W.1818 Mar-Sopt ... E9 0 0 10s. lower 3 , N.S.W. 1035 Apl.-Oct. !. 87 5 0 Unchanged 4 Vic. 19-20 Jnn.-July...* ... 101 0 0 Unchanged 3j Vie. lffit-G Jito.-Julyi ... 93 7 li Unclmnsed 3 , Vic. IM3-49 Jail.July .... 67 0 0 Unchanged 34 „ 5.A.1015,7an.-.Jul>- ... 100 0 0 Unchanged 3 „ g.A.lDl6Jftn.-Jnly ... S> 0 0 Unchanijcd 4 Q-l'dl!Bl-a).lon.-.lnly ... 105 0 0 Unchanged 31 „ Q , l'dlt?2l-30.1an.-July ... 93 10 0 Unchanged 3 „ Q'l'dl&2-2-47Jan.-July ... 83 0 0 Unchanged 4 „ N.Z. IKO May-Nov. ... 105 0 0 Unchanged 34 n M.Z. IMOJan.-July ... 103 0 0 Unchanged 3 „ N.Z. 1940 Jan.-July ... 87 0 0 Unchanged 34 „ W.A.ItWO-35M ay-Nov ... 97 0 0 Unchanged 3 „ %V.A.1(115-35May-NOT ... 86 0 0 Unchanged 84 „ Ta8.1920-!0,1an.-,luly ... M 0 0 Unchanged B „ Tas. 1920-10 Jan.-July ... 85 10 0 Unchanged TIIE MONEY MARKET. Tho open market discount rate for best thres months' bills is Bs. 9d. lower, at .CI 6s. 3d per cent. The Bank of England rate is 5 per cent., to which it was reduced on January 10. COLONIAL AND OTHER: PRODUCE.

Wheat—Tho markets are quiet and a shade easier owing to weaker American quotations, caused by a less demand, and also oil account of improved reports from tho Argentine. Cargoes are dull. South Australian afloat is offering at 41s. 6d., January-February shipment 41s. Australian 011 spot is slow to move at -15s. to -15s. Gd. ■ Flour is steady and unchanged; quotations, London 295. Gd. to 305., Glasgow 30s. to 30s. Gd Butter.—The market is very firm. Choicest Australian, 116s. to 117k. ; secondary, 112s. to lUs. Choicest New Zealand, 118s., and in rara instances 120s. realised. Buyers are preferring Australian as cheaper. The tone of the market, is strong on short supplies and news of hot weather in Australia. Cheese is firm; white New Zealand, G2s. to 635. j coloured, Ms. Sugar.—Market quiet. But first marks lis. 7d. per cwt.; ordinary, 9s. lOd. Sheopskins.—At tho sales 3000 bales were offered, including 2150 Australasian; two-thirds were sold. Merino declined }d. to Id. Fine crossbreds Id., coarso «d. Wool.—'l'ho Bradford top market is quiet, awaiting tho opening of Loudon sales on ,Imiliary 21. Common GO's, 25Jd.; super, 201 d. THE METAL MARKETS. Copper.—Spot, 275. 6d. higher at .CG3 7fe. Gd ; three months', 225. Gd. higher at ,CG3 15s. pelton; electrolytic, ss. lower at .£Gt per ton. Tin.—Spot, 355. higher at 55.; three months', 355. higher at .£125 ss. per ton. Lend.—7s. Gd. higher at Jilt 7s. Gd. per ton Pig-iron.—ld. lower at 4Ss. 3d. per ton. Silver is quoted at 25 5-Sd. per ounce.

To-morrow Messrs. Dalgety and Co., Ltd.. will sell the hush property of the Campbell Land and Timber Company, situate between Waikanao and To Horo. The sale, commences at 2 p.m., in the Chamber of Commerce Koyms, Wellington.