FROZEN MEAT MARKET

Hawera Star, Volume LII, 12 October 1932, Page 8

FROZEN MEAT MARKET

GLOOMY OUTLOOK FOR LAMB. MESSRS SHEER, THOMSON’S REPORT. Messrs Sliced, Thomson and Co., Smithficld, report at the end of August on the meat market as follows: New Zealand lalmbls. —In our last report we had to record a serious- setback in the market, and since then the decline has continued and tihe* position! to-day must be\ extremely serious for shippers. Tlio efforts of some holders to sell c.i.f. and to effect clearances have mitigated against any efforts that were made to steady the market, and values that have been ruling are well below those existing just prior to the war. It would appear as though this country has reached its limit for the consumption of frozen meat and that we have been quite unable to absorb the quantities that have arrived. The cold storage space in London is full and it is increasingly difficult to obtain storage space. On arrival of the .s.s. _ Rem Tier a the shipping company decided to discharge the meat ex this vessel into the s.s. Rangitane, as they required the former vessel for engagements previously entered into. At the time of arrival of the s.s. Renruera it would have been quite impossible to have taken delivery of the meat, as there was no cold storage space available. so the shipping company did the next best thing and discharged it into another vessel. ' We think it is too late now to see much materia!! imfrnbveinent in, tlie market; the present shocks and those afloat arc too heavy to infuse optimism into the position. Looking at the present position from all angles, there j.s actually nothing to warrant any material improvement —the only thing that warrants improvement in values to-day is actually the existing low value. By this we .mean the -present value is so low that an improvement can take nlace. but on the other hand, if present values were high, all indications would be pointing to a decline. Light and secondary lambs, that is, under 281 b, are enquired for and, in some instances, are making a, premium over first quality 2’s. Australian lanib-s. —The demand is poor, with the exception of a, very light lamb. The first arrival of new season’s South Australian lambs met a very disappointing market for the shippers, and we understand they were unable' to make a round price of 4d for same. New season’s Sydney lambs, firsts, seconds and thirds combined, have been offered at 4d per lb, c.i.f. for forward shipments, but we cannot hear of any material business having been completed. The following are ruling prices: New Zealand lambs.—Canterbury 2’s, 5 1-Sd to .5 Id; B’-s„ fid; 4’s, 4RI to 4 fi-Bd. North and South Island (including Downs), 2’s, 4 7-Sd to 5 3-8 d; B’s, 4 7-8 d to 5 3-8 d; 4’s, 4-Jd to 4i*d . Seconds (acording to weight), 41 d to 5 1-Sd. ‘Australian lambs.—Victorian 2’s, nominally 4d; B’s, 4dj 2nds, 4 l-Bd. Other States, 2’s, 4d; B’s, 4d; 2nds, 4 l-Bd. All States- 3rds (averaging about 261 b), 4*d to 4RI. Wethers. —-We are glad to report a better feeling in this section. Stocks are being fairly well cleared and values look like further improving. Seven’s (7’s) and threes- (3’s) -show -improvement since our ast report.

The following are, ruling prices; New Zealand wethers. —l’s, 4d; Us, 3 3-8 d to 3 5-8 d; 3’s, 3 l-8d to 3Jd; 9’s, 2|d to 3d; b’s, 2^d. Australian Wethers. —-First quality, 40 to 651 b, 2ld; second quality, .30. to fifilb, d. Ewes.—The demand in this section is not good and there is nothing in the position to indicate an immediate improvement. There is ample room for improvement and we rather incline to tlie- view that improvement will take place with colder weather. The present position is really farcical in view of the costs incurred sending tins ’product. The following are ruling prices: New Zealand ewes.—l’s, 2£d; 7’«, 2-id, 23d; 3’-s, 2-id j 9’s and fi’s,

Australian owes. —30 to fiolb, nominally 2|d. Frozen beef.—in our last report we liidicated that the South -Anferican beef shippers were- reducing tlieir supplies of chilled beef to this market. The supplies were certainly reduced, but any improvement that might have taken place was completely counteracted by extremely hot weather. The heat was so great that the market collapsed, and has not yet recovered: Frozen beef is practically neglected and it is very difficult to make sales on the spot. .There was a little inquiry for forward shi-pilients for Army contracts, but we understand this inquiry has been largely filled with supplies from Australia at 2Jd to c.i.f. ■

Boneless beef. —The demand, particularly for cow boneless beef is on the slow .side, probably due to the very hot weather. There is a fair inquiry for boneless bull beef particularly for forward shipments—buyers are indicating 2fid c.i.f. and 2Jd c.ii.f. for cow. Wo believe this market will improve with colder weather and we are making an effort to get price® up, and with a little co-ordination wei have not the slightest doubt that we can get bull boneless beef on to a basis of 3d or more c.i.f., and cow boneless beef 21 d or more c.i.f. EVen then the product would constitute a cheap commodity. Frozen pigs.—Although this, section has been vary slow we are glad to report improvement with the advent of the pork season, and we anticipate values will further harden during September and October. The following are ruling, values.— 60 to 1001 b, od ; 100 to 1201 b, 4-Id. Baconers. —Whilst supplies of cheap Continental bacon are not so heavy, they are sufficiently heavy to make the spot position for frozen baconers difficult for curers to handle profitably. There has been a- little interest shown in forward .shipment and although spot values generally are below sd, this figure can be made c.i.f. for forward shipments. ©fiats.—The demand generally is very slow. "