THE MEAT TRADE

Otago Daily Times, Issue 19529, 11 July 1925, Page 11

THE MEAT TRADE

WAR BETWEEN TRUSTS. CONSUMERS BENEFIT. Press Association —By Telegraph—Copyright. LONDON, July 9. (Received July 10, at 8 p.m.) Meat traders are keenly watching developments in a struggle between Vesteys and a combine of South American packers embracing Swift’s, Armour’s, and Wilson’s for a monopoly of the European market. Vesteys recently extended their operations to the Continent, and on this account they demanded an increase in their quota of shipping space from Argentina. The others refused the demand, and the fight, which began in April, has gradually intensified. The estimated present weekly losses of the contestants are £250,000. The English and Continental consumers axe benefiting by the low prices, while the Argentina stock breeders have almost doubled the prices of cattle. The struggle is also improving the Argentina exchange, but European speculators are bemoaning heavy losses on their forward purchases. Britishers are speculating on the duration of the conflict. They expect Vesteys to win because they control a greater quantity of shipping and more cold stores on the Continent. Meanwhile the cheaper selling has increased the European demand and created a temporary shortage of chilled beef m Britain. Trad ore oonseqaiently anticipate larger demands for Australian and New Zealand beef and arc holding supplies for a rise.—Sydney Sun Cable.