COMMERCIAL.

Grey River Argus, 22 June 1927, Page 7

COMMERCIAL.

MEAT SLUMP IN AUSTRALIA. (Australian and N.Z. Cable Assn.) SYDNEY, June 21. Mr. Cramsie, ehairman of the Metropolitan Meat Industries Board, says the position of the meat industry throughout the Commonwealth is at present critical. Exporters have been carrying on at a loss for some time, and the immediate future gave no indication that the situation would improve. If anything, the heavy yardings of sheep that would result from the unusually severe winter, would tend to aggravate the depression, which was not confined to any one State or portion of the Commonwealth, but applied to the industry as a whole. The small volume of business that had come with

in reach of the Queensland meat works for some time had resulted in a large [increase in operating costs. The effects of the recent drought in that State would make the position worse, as export trade would be light. A similar position existed in West Australia, while in Victoria and New South Wales the difficulty was experienced in securing sufficient business to enable the works to be operated profitably. Only an organised attempt to handle the trade scientifically and thereby stabilise it will save the industry from disaster.

THE U.S.A. WHEAT OUTLOOK. NEW YORK, June 20. Loaders on the Chicago Grain Exchange state that American farmers may expect high prices for wheat this year, with exporting countries unable to meet the demand. Constant rains, floods and the cold Spring have retarded planting and cultivating and unless perfect weather is experienced i from now until after threshing, it is feared that farmers will have very Jittlc crops for the market. While farm ers in certain territories may profit from the higher prices it is doubtful whether the industry as a whole will be benefited. Winds of tornado intensity, heavy rains and swollen streams are destroying many acres of wheat in south-east Kansas. The damage is expected to exceed fifty thousand dollars. Chicago wheat quotations are:—July 146 cents, September 142 J.

AUSTRALIAN SHEEP FLOCKS DECLINE. MELBOURNE, June 21. At the annual meeting of the Goldsbrough Mort. and Company, the Chairman (Mr. Miall) said that Australian wool is tending to deteriorate, and the sheep numbers (without allowing for the drought losses in Queensland estimated at seven to eight millions) are thirteen millions less than in 1891. The figures led some people to think the. industry was in an extremely prosperous condition, and certain politicians •’were attempting to introduce legislation to reduce the area of land being used for sheep growing. The figures, however, were misleading. LONDON BUTTER MARKET. Butter Market, steady but quiet. Danish 164/-, to 166/-, (166/-), Finest New Zealand 162/- to 164/- (162/- to 164/-), Australian Finest Un salted 168/- (168/-). Salted 162/-' to 164/ (162/- to 164/-). Cheese Market firmer. New Zealand White 85/- to 86/- (82/- to 84/-), Coloured 87/- to 88/-; (83/- to 85/-) C.I.F Price for Canadian S6/6 (84/- to 85/-). (Last week’s quotations shown in /parentheses). Total imports of butter into United Kingdom last month were 554,000 cwts same period last year 468,000 cwts.