FROZEN MEAT TRADE

Gisborne Times, Volume LVI, Issue 6319, 23 February 1922, Page 6

FROZEN MEAT TRADE

DROP IN PRICE OF LAMB

•‘DANGERS OF THE ARBITRARY POOLING SCHEME."

INFLUENCE OF THE “BEAR."

In connection with the -Prime Minister's statement regarding the frozen meat market, a leading authority in the frozen meat trade in Wellington made the following comment“ Now the mischief is done, it is no use evading the cause of the drop. The sale of Canterbury lambs at 9id —presumably last season’s lambs —is confirmed by an additional. sale in London yesterday of a parcel oi 10,000 new season’s prime Canterbury lambs, shipped by the Rimutaka, at 10id. These lambs a fortnight ago were saleable at llid. "Apparently," be continued, “the Government, in their blind rush to get out. of the Armour difficulty by the forcing through of an arbitrary pooling scheme, have ignored the safeguards which would have been apparent if matters had been dealt with on business lines. Whatever arrangements the Government made with Armours should be publicly announced, so that those interested here in the mamtentance of high prices for our frozen meat can judge for themselves whether the terms are sufficiently protects e. Last season the break in the meat market commenced witli tlie transference of New Zealand meat from America to the United Kingdom, and maw this season the break coincides with the releasin<r of Armour’s old meat from works in° New Zealand. This old meat cannot possibly be sold at the same prices as new season’s, but the in their wisdom, have allowed it to bo marketed along with new season’s meat with the inevitable result as now exhibited. “The English buyer is not to know when he heard of a sale of Now Zealand lambs at a low price that it is old season’s lamb. Accordingly he drops his buying price, and nses the low-priced sale as an argument for still lower values. This state at aftaiis could have been prevented by simple measures, such as a stipulation; that the released stock of Armour s meat must not bo sold c.i.f. or ex ship, but instead must be sold landed at Smithheld with the proviso that prices must be submitted to the Government for their approval. As matters now stand, the Government have brought into existence the bearish influence which is going to cost the New Zealand producers a nice penny."