HIGH LEVEL

Otago Daily Times, Issue 27092, 28 May 1949, Page 4

HIGH LEVEL

Store and Fat Stock Prices

Both store and fat stock had maintained a very high level in price during the year said Mr A. McMillan in his annual statement to the provincial conferece of Federated Farmers yesterday afternoon. Cattle and sheep for local butchers requirements had been scarce and dear, due largely to the scarcity of winter feed, and the* prospects for the coming winter trade looked, as bad. if not worse, with regard to feed and supply. In spite of good intentions fatteners in .Canterbury and North Otago would be able to winter very little fat stock this year, The meat export season had been remarkable for record prices and industrial harmony, two of the essentials to prosperity in the trade. Many complicated factors .went towards the making of the schedule meat price, Mr McMillan continued. After the price paid by the United Kingdom Government for the meat, next in importance was the disposal of saleable by-products. On this, as on , the sale of all exportable surpluses, the fall in the e: .change rate had caused a reduction of 20 per cent, in income which, combined with the fall in the price of slipe wools and pelts, had made a drastic decline in the gross income placed to the credit of the meat industry.