FROZEN PRODUCE LETTER.

Otago Witness, Issue 3030, 10 April 1912, Page 39

FROZEN PRODUCE LETTER.

STRIKES AND NATIONAL MEAT CONSUMPTION. BIG FROZEN MEAT FLOTATION. {Fhoii Our Own Correspondent.) LONDON, March 1. Those who are watching the meat market closely just, now to discover signs of what the complexion of affairs may be later in the year—for the present season is always a fairly critical one —have been rather disquieted by the trend of trade. Frozen meat business has steadily dwindled sinco my last letter, and this has been owing to a diminished retail trade. This is plainly due to troublous titties, the fever of strikes! in the air having affected the meat purchases of the working classes even in advance of the strikes themselves. Although this can be proved, the. betterclass Home-killed trade has, on the other hand. been unaffected. The Smithiield Market, for instance, has received and cleared 7000 tons more Homo stuff since November 1 than in the corresponding period a year ago—in the past week the British-bred meat has increased by Jf* tons in supply. The remarkably mild weather has surprised even the farmer himself as to what stock he has been able to get off the land. I have heard more than one illustration of the actual falling off in the working-class consumption of meat —i.e., frozen meat. Butchers are quoting on market the way their customer are "drawing in their horns" in meat purchases. THE YEAR'S PROSPECTS. There is little doubt that the prospects of 1912 being a good frozen meat year are being discounted as time goes on. General trade in the country is good, but only oday the newspaper placards inform the public that a million miners have come out on strike. This does not merely affect their families, but there will be impoverished almost to starvation point the further millions of workers employed in tho long lisr, of firms which in consequence of tho trouble have given notice of discharge to their employees either immediately or in one, two, or three weeks as the'case may be. That is, supposing tb< strike has any duration, a national calamity which will have been decided one way or the other long before the?e words are' in print. From the point of view of output, therefore, things could hardly look blacker at the moment, and this being so the irolicy of the holders of Australian meat in going on selling has been quite a wise one SOME COMPARISONS. The new season's market has not opened this year in the way that was expected, and although the quality of the arrivals has, speaking generally, been excellent forward buyers have not realised the price.*) they paid. Doubtless, their experience of this time: last year will still be fresh in their memory. Prices both of New Zealand lamb and mutton are still slightly above what they were this time last year, but the rates are nor. what they should be if a respectable demand were forthcoming. There are some criticisms that Canterbury lambs in some eases are not quite up to tho mark in quality—prices range about id in excess of last year. North Islands, becoming more plentiful, are nearly id behind. " Australian iamb, merely because of its cheapness—4£d—commands a steady sale. SUPPLIES. Supplies, of course, are short on the year so far. Australia in the tiis* seven weeks of this year ha«s seen fully 25 per cent, less mutton and over 30 per cent. less lamb, and New Zealand's figures with a later s< a.-x>n are also considerably down, South America has sent practically the same amount ot mutton—and, everybody should, note, she has forced her consignments of lambs up quite 30 per cent. New Zefl-landers should bear in mind this determination of the Argentine companies to make their lambs ibrure in the market at this season. YVita the lamb-buying trade it is the critical time of the year, and more attention and custom-winning is done now than at any other time,wherefore the South Americans are to the fore. Chilled beef is down again, and this would have its effect on frozen, but New Zealand beef is unquotable because of its absence from the market. BUTTER. Bearing in mind that labour troubles, or their ehadow cast before [hem, naturally tend to affect the butter as: well as the meat trade, the way butter prices have kept up is very satisfactory. From 130 s to 1325. for New Zealand is pretty well where we stood a fortnight ago. Australian is .-lightly down owing to receding quality towards the end of its season. The discussion as to the unreasonableness of high" values has continued to wage in the trade press, but the advocates of the genuineness of the position as reflected in current rat"S have had all the best of the argument. With a ZT.OOC.CCOIb shortage in the United States on the month of January, 1912, again»t 1911. and butter at 163 s in New York and 16Cs in Canada, the situation is universal. By the way. last year 135,5420 wt of butter was re-exported from the United Kingdom, as against 68.344ewt in 1910, this because of the drought on the Continent. New Zealand cheese has firmed up recently, and the trade is regarded as very promising. - MULTIPLE .-HOP TRADE. The prospectus of the new company formed by Messrs W. and K. H. Veetey io take over the biuunos of W. and k. Fletcher (Ltd.), recently acquired by them, contains several interesting items. The name of the new concern Ls the Proprietors of Fletchers (Meat Importers), Ltd.. and the capital is £300,000, divided into 200.000 6 per cent, cumulative and participating £1 preference shares and 200,000 ordinary 10s shares, with also per cent, first debentures, all of which, with the 200.000 preference shares, were offered for public subscription 10 days since. The sum of £485.G00 if. the purchase prio* payable Io the vendors, who are taking up all the ordinary shares and 100.000 preferences, for cash. The prospectus states that the business has 388 retail chops besides a number of wholesale establishments in 10 leading centres. Thirteen new shops have recently been completed, and a further 16 will be shortly opened. The annua! turnover of tho business "in 1910 was £1,481.900, lad ft-.e-average profit for the past trt.ree vears £48.517. Doubtless, the fixing of the value of the goodwill at £212.c0S will bo cr.ngidered a very high fiarure Indeed. Tha Lnion Cold Storage Company has a i?

years agreement to undertake the company s cold storage.