THE MEAT MARKET

New Zealand Times, Volume XLVII, Issue 10853, 19 March 1921, Page 6

THE MEAT MARKET

A SERIOUS POSITION FURTHER DROP IN PRICES ANTICIPATED. PRESENT RETAIL RATES. “The bottom has fallen out of the stock market.” w-.is the remark made to a "Times” reporter by the manager of the wool and stock department <n a large business house yesterday. Upon inquiries being made the fact was elicited that farmers were unable to sell their fat stock, as there were no buyers, except butchers whoee requirements were comparatively small. Alany of the freezing companies were working at les® than full capacity, anc little or no buying was being done. The position was a serious one for the country and for farmers in particular, it was stated, and it- was accentuaied by the fact that in some district® the season had boon so dry that farmers would soon he compelled, if a change did not take-place, do give stock away m order to provide feed for a certain, number to curry them through the winter. Ti was learnt that there was no immediate prospect of prices falling on the London market, but the freezing companies had declined to accept the risk and each month saw prices dropping. It was said that while a few, freezing chambers may be full such was not the ease with the majority. This was proved by the fact that a number of farmers, being unable to sell their fat stock, were sending them io the freezing companies: where they arc being treated and stored on their own account. A case was quoted where a farmer purchased prime bullocks at £l2 10s per head and had been unable to sell their at £G per head. REASONS FOR SLUMP. “What is the reason for this sudden slump?” asked the reporter. “There are several,” stated the gentleman who waa being interviewed. “In tho past,” he said "the freezing companies have taken most of the stock that lias been offering, but this season practically no buying is being done. In some quarters it is stated that the refusal of the Government to allow American firms to operate on the New Zealand market is having'a bad effect. Some of the American firms who have been large buyers of New Zealand meat have refused to buy this season. It was thought that a good market for lamb would be opened up with America, but recent shipments that were sent there did not- find a ready sale, and in consequence had to be for- x warded on to Europe. The high cost of freight is another factor, as it costs 4d per pound to place meat on the London market in freight charges. If rain comes soon in Hawke’s Bay anc elsewhere, where it is urgently needed, the position may he relieved to a considerable extent, hufc the present outlook is that farmer® will have to destroy a quantity of stock in order to conserve feed for the winter. Fat stock is going hack rapidly, and onlv prime sorte are being nibbled at. A month ago prime wethers, up to 641bs in weight, were being sold at sid per lb, and the price to-day is 3d; prims ewes have dropped from 4sd to 3d, and prime lambs from 9§d to 6jd per lb, while prime ox beef which was 4o» per hundred pounds a month ago is now 255, and prime cow beef has fallen from 32s 6d to 15s. _ The stringency of the monov market is being severely felt, and'the stock agency firms are declining to make advances except to their clients so that there is very little speculation going on in stock.” BUTCHERS’ PRICES. y It was gathered, upon investigations being made, that there is a probability of tho price of meat for retail sale fallinc still lower than it is at present. A drop of Id to lfd in practically all classes of meat took place recently for cash sales over the counter, and in the case of pork there has been a drop of 4d per pound. The following are tne ruling rates to-day, the first figure being the minimum and that in parentheses the maximum, in retail establishments: — .. , . Beef.—Fillet Is per lb; rump steak lOd (Is), sirloin, "id (9d>. prime ribs 6’d (7d). corned roil sfd (6d), shins 2d (2d), gravy beef od (6d>, beef steak 7d (8d), fresh and corned brisket 4d, whole rump 7d. Alutton.—Sides od (od) per lb, hiiidquarter o\d (hid), forequarter 4(d (pd). lW old (7id), loin 6fd t<d), shouldei Od (6d), leg old (7*d), chops <Hd (8d), cutlets lOd, neck 4d, neck and breast 3id, fans 3d, best neck old. Veal. —Fillet fid per lb, shoulder od (7d), loin 6d (7d), forequarter 4jd, cutPork .—Hind loin lOd (Is), leg and fore loin lOd (Is), chops Is (Is 2d), belly 10d. Sundries. —Pork sausages Bd, beer gausflgcs 6d. Cambridge sausage® 10a, luncheon sausages 6d, suet 6d, tkipe I 6d, mince 6d, dripping Od, ox tongues 4a each (lOd per lb), ox tails 1® (Is 6d). ox kidneys 6d each (8d), sheep s head 6d each, ox cheeks 6d each, sheep’s tongues ljd each (3d), sheeps fry 3d each, lamb’s fry 4d each, sheep s kidneys Id each.