MEAT COMBINES

Greymouth Evening Star, 11 July 1925, Page 5

MEAT COMBINES

FIGHT FOeTmONOPOLY. (Australian and N.Z. Cable Association.) LONDON, July 9. Meat traders are keenly watching developments in the struggle between /esteys and a combine of the \South American Aleat Packers, embracing Swift, Armours and Wilsons, for a monopoly of the European market. Vesteys recently extended their -operations to the Continent, in consequence of which they demanded an increase in their quota of shipping space from the Argentine. The others refused tlie demamC The fight began in April aod it has gradually intensified. It is estimated that at present the weekly losses of the contestants arc a quarter of a million sterling. The Anglo-Conti-nental consumers are benefiting by the low prices. The Argentine stock breeders, moreover, have almost doubled their prices for cattle. The struggle is also improving the Argentine exchange. European speculators, however, are bemoaning their heavy losses through their forward purchases. Britishers are speculating on the duration of the conflict. They expect Ves'teys to win because they control the greater quantity of shipping and have more cold stores on the Continent. Aleanwliile, the cheaper selling has increased the European demand, and has created a temporary shortage of chilled beef in Brit')in. ‘The traders now anticipate a bigger demand for Australian and New Zealand beef, ami they are holding on to their supplies for a rise.