FROZEN PRODUCE LETTER.

Otago Witness, Issue 3016, 3 January 1912, Page 19

FROZEN PRODUCE LETTER.

MARKET PROSPECTS. THE PORT OF LONDON. (From Our Own Correspondent.) LONDON, November 24. There are two facts that strike one concerning the big supplies which have continued to pool- into Srnithfkdd during the last fortnight. Prime qualities have not been uppermost in t)ho meat to hgnd, and this so far lias, if any tiring, made for strength in frozen values, which have badly needed it. But theso supplies have an aspect affecting the future. There has been much homo meat about which cirouinstances have compelled to come on the market, and when it is realised tlrat tome Scotch owes have only made a penny a stone more than similar New Zealand moat, one can imagine depletion in homo flocks which must have a bearing on the fate of next season’s market. There is little doubt that home supplies will be light, even if Argentina should once more increase her vdlnme of moat. The remaining factor is Australia, the drought of which in Queensland and in the northern districts of Now South Wales, whore some of the best meat comes from, may have a marked effect on her exports. NEW ZEALAND MEAT New Zealand stocks arc extremely light just now, and the rapid clearance of stores meat makes it fairly patent that we are to have another hiatus as regards New Zealand meat and the homo market. The shortage of New Zealand mutton has, naturally, kept prices firm, and —a not unusual thing at this time of the year-—the call has prevailed for heavy carcases, which are very scarce, these holding a premium ever light carcases. It was only to be expected that by now a largo proportion of New Zealand lambs coming from cold store should show signs of shortage rather badly, and this, in the presence of Austrrlian new season’s meat, has militated againf-t the former stuff, which, however, in the case of bc-ttcr-conditioned carcases, has just lately shown a slight improvement in value. River Plato lambs which have been abundant have been exceedingly poor in quality, and have mado a low market CHILLED BEEF. I Chilled beef is still the dominant feature i of the market, and I have once more to tell 1 my readers that though frozen beef has certainly met an improved demand recently 1 and this is no small achievement in the face • of “dirt cheap’’ pork and a host of other seasonable goods,—it has not appreciably moved forward in value. Chilled prices have swayed this and that vyay with no i general improvement. It is just possible ' that wo are in for a better frozen beef i market. TO REGULATE SUPPLIES. Apropos of chilled beef, it is decidedly interesting bo hear rumours floating round

to the effect that the parties, British and American, on cancel in this trade, are at last striving to come to some arrangement to limit the shipments of South American beef to the requirements of the market. I am pretty sure that there is foundation for this rumour. What doce it mean? It means that this apparently reckless glutting cf the British, market with chilled beef this season has, after all, been duo to force of ciroura' stances rather than to a deeply-laid plot on tho part of tho Beef Trust, which one is always suspecting of terribly crafty policy. The competition has been insane enough, and I liave often said that it was hard to understand why moat should be continually sold at practically half price for no apparent reason, for Argentina does not improve her position by it. CAUSE OF THE GLUT. The remarks of Mr Assheton Leaver, the chairman of tho Smith field and Argentine Moat Co. (Ltd.), at the annual meeting of that company, curiously confirmed a theory I have formerly advanced as to tho cause of the running of tho great amount of refrigerated freight between South America and England, which wa® tho commitment of tho exporters to ship all these glutting supplies. Mr Leaver said: “It was hoped, no doubt, that the markets here would and bo able to take those larger supplies; but they have not done so.” This means that the intelligent anticipation of European markets has been premature, and one can 'only conclude, as Mr Leaver added, that tho running of yet another lino of steaniorg on tho same route next year will have tho effect of “scrapping” s6mo of the less modern carriers as far as this particular trade is, concerned. ' - * LONDON IMPROVEMENTS. It is certainly an interesting announce* incut that the Port of London Authority, which, as I told my readers in my last letter, is to erect another cold store at West Smithfield, contemplates the erection of three sorting sheds at tho London Docks.. New Zealanders, with their numerous marks, , will welcome this idea as much as. anybody. It is certainly a reform advocated for a decade or more by a host of authorities, and those who have long ctriyen for the accommodation will after their long; wait pinch themselves to see if they are awake at the news. The Port Authority has only announced its “ contemplation of \ the improvement. Slowly London is being made more efficient as a frozen meat port. Captain Noakes’s latest type of cndlesA band conveyor, which has lately been pqt into service at tho docks by tho New Zealand Shipping Company, is a contrivance which marks a big step forward in, the handling of frozen meat the carcases being convoyed direct out of the hold of the steamer by one continuous-apparatus working on the endless conveyor principle, BUTTER. Prices of “ colonial ” butter have shown a 2s improvement since my last letter, and things never looked rosier for a continued trade at high prices than they do at present. It is a caee> of rcallv honest dcrmuid, not market-rigging, and the retail trade is hoimr strong! v urged to keep price? up. The'’French and Siberian shortages, of course, contribute to the strength of the market. I have heard nothing but praise of the quality of tho New Zealand butter already te. hand, and Australian except in some oases in second grades—is also meetinor with considerable favour, and snaring in tho favourable nrioes. After a long .spell of drought prospects_ of Argentine dairyfanners are now looking up, and the 'shipments of Argentine butter to hand in London are spoken very well of.