MEAT IN LONDON

New Zealand Herald, Volume LXXV, Issue 23194, 14 November 1938, Page 5

MEAT IN LONDON

PEICES AT SMITHFIELD

PRIME LAMB STOCKS SHORT HEAVY WETHERS WEAKER Stocks of prime lamb on tlio Smitbfiekl market, London, are now short, with prices steady, -according to the weekly report of the New Zealand Meat Producers' Board. Second quality is selling slowly, owing to heavy supplies of home-killed.

The market for heavy-weight wethers is easier, with trade slow. Ewes are meeting with a little better inquiry. Frozen beef fores are slightly easier, with a fair demand. Chilled hindquarters are firm and fores weaker.

Conditions in porker pigs are steady. Baconers are easier owing to the weaker bacon market.

Following are ruling prices for wholesale quantities announced by the board, together with values ruling at the close of the previous week: —

The weekly quotations are based on actual sales of wholesale quantities of carcases of mutton or lamb or of quarters of beef delivered to Smithfield market and/01* London stores. In the case of chilled beef the rates represent the approximate average prices realised for the week at per lb. To arrive at the equivalent ex ship values one farthing per pound should be deducted from the prices quoted, above. Quotations given represent the average for the week, and are notselected lines, but for parcels fairly representative of the bulk of shipments now on offer. BETTER , INQUIRY FOR EWES BANK OF NEW ZEALAND REPORT The Bank of New Zealand has received the following advice from its London office as at the close of business last week:—-Wethers: The lharket is quiet and unchanged. Ewes: There is a better inquiry. Lambs: Trade is slow. Quotations: Wethers,, light, 4id to 4Jd per-'lb: heavy, 33d to 4}d. Ewes: 2Jd to 3d. Lambs, twos: 7fd to 8d; eights, 7fd to 7fd; fours, 7|d to 7id; 6Jd to. 6|d.

DEMAND FOR WOOL NEXT LONDON SALES PROSPECTS FAVOURABLE SOME ADVANCES EXPECTED Prospects for the next series of wool sales which opens in. London on November 22 are favourable, according to advice received by the Bank of New Zealand from its London office. Prices for Merinos and fine crossbreds are expected to be firm, while it is expected by tlio bank's advisers that medium crossbreds will advance 3d per lb. and coarse crossbreds 3d per lb. The forthcoming series is the sixth and final series of the year in London. Usually conditions at these auctions form a valuable guide to the market prospects at the New Zealand sales, which this year commence at Auckland on November 26, four days after the London auctions open. The Australian woolbroking firm, Winchcombe, Carson, Limited, in another informative review, states that the demand for wool experienced in the Commonwealth since the season opened, although unsettled conditions prevailed, is evidence of - the need for the raw material in spite of the presence of a large output of artificial fibres.' Chief credit for the sales must be given to the Continent and Yorkshire. During September only 5 per" cent of the shipments from Australia went to other consuming centres. No great revival in trade has been experienced, but the mills are running ,to a good proportion of capacity, and information indicates that stocks of the raw material abroad are not heavy. Decreased production, particularly in Australia, offsets the unsold stocks of the past season's wool. It cannot bo said that the position denotes a scarcity of wool under prevailing trading circumstances. But it does not show that an over-plentiful quantity is available for use. If trade revived and" the United States and Japan bought with increased freedom, their additional activity would certainly be likely to cause the market to trend in sellers' favour. In viewing sclling prospects, however, the effects of the war in China must be considered. Yorkshire, by way of example, was exporting 10,000,0001b. of tops to China annually, and that trade has to a great extent vanished. Business in textiles with that country has also diminished. The only wools which benefited by the Chinese situation are the coarse carpet wools.

FROZEN MUTTON Nov. 3 Per lb. Nov. 10 Per. lb. Now Zealand— Crossbred wethers and/or maiden ewes: Under 481b 40-501 b 57-64lb 65-721b Ewes : Under 481b .. 49-5«lb 57-G4lb G5-721b u i i d 1 1 2% FROZEN LAMB Canterbury: Under 3Glb 37-421 b 43-50lb Second quality, average ab3ut 311b . Other South Island: , Under 36lb .. • . .. 37-42lb . . 4 3-001 b i. North Island Downs: Under 3Glb .. .A 37-421b 43-501b Second quality, average about 301d . North Island, first quality Under 361b .. 37-421b Second quality, average about 311b . Australian — Victorian: Fi-st quality. 2F)-36lb f irst quality, 37-421b Argentine (new season's) — First quality, 36lb .. First quality, 37-421b 7% 7 3 / 4 * G'/ s 7/B 1% * » * 6\% 7% 7% oy a • 7 67. * * • 6% * T /m * * » * * 6% * ft 7 6V< FROZEN BEEF New Zealand:— Hinds Fores Australian — Hinds Crops (weights corresponding) t . . CO 3/t 4 1 / 3Y, CHILLED OX BEEF New Zealand — Hinds Fores Australian — Hinds Crops (weights corresponding) South African — Hinds Foies • . • ■ Southern Rhodesian — Hinds . Fores Argentine—■ Hinds Fore.? Uruguayan— 1 Hinds . Fores Brazilian — Hinds .. > • • » * 5% 4 6V e 4 6 3% $ 8 * 5% 3% 5% 3% 6% 3% 6 3% 6% 4.Vo 6% 3% « FROZEN PORK New Zealand — * Porkers: First quclity, 61801b ' Ditto, 81-100lb Ditto. 101.1201b .. Baconers, 121-160lb . 7% 7 6Va TV, 7 6% G% BONELESS VEAL Bob >y (new season's), ex store, in parcels 4/ a *Not quoted. 4Vi