FROZEN LAMB AND MUTTON MARKET.

Wanganui Chronicle, Volume LXXVI, Issue 18430, 14 March 1922, Page 8

FROZEN LAMB AND MUTTON MARKET.

The sharp rises in values of frozen lamb aud mutton in the Smithfield market the last two montns must be very gratifying to all con'nected with the trade. The turn lor the better occurred when the outlook was particularly black, and it is no exaggeration to say that the prices now obtaining have put fresh lite into the trade. This applies particularly to New Zealand, where the new export season has recently opened. Values for frozen meat early in December were so low as to make it impossible to operate in sheep on a basis profitable to the grower, and the position was not much better with lambs. Here in Australia practically all the works had arranged to close down at the end of the year, but thanks to the improved outlook a fair export has bees done since Ist January, late as it is for this country. The cabled quotations supplied by the British Incorporated Society of Meat Importers have shown sharp advances every week between 10th December and 11th February. During that period best Australian lamb appreciated 4.jd per lb., increasing from 6d. to 10ad, and New Zealand Canterbury lamb over 3d., rising from about 7id to IOJd. Light Australian mutton improved 2d. per lb. jumping from 4Jd to 62d., and light Canterbury 2Jd going from 51d to 7gd. No doubt a number of factors played a part in the improved conditions, but judging from past experiences it is doubtful if any known to the trade on this side justify such substantial rises as have taken place. Poossibly the recent relatively small shipments from Australia and New Zealand, the lighter- supplies of homegrown sheep and lambs, and the reduced stocks in cold store account in part for the improvement. It is significant that the period of the rising market coincides almost exactly with the discussion in New Zealand relative to the proposed meat pool. Possibly that proposal was largely influential in putting up values. Il is quite understandable that importer's, fearing restrictions in their trade, would be anxious to secure supplies before the pool came into operation, and that might be sufficient to boost the market. The fact that froen beef, which would not be materially affected by a New Zealand meat pool, has not shared in the boost, lends colour to this supposition.