MEAT MARKETS

Manawatu Standard, Volume LIII, Issue 27, 29 December 1932, Page 6

MEAT MARKETS

AN IMPROVED OUTLOOK. SEASON’S OPENING KATES. There is reported to be an improved outlook for New Zealand meat on the markets at Home, and prices hav e shown an increase. The Tamm, carrying thousands of carcases of lamb, arrived in London too late for the Christmas trade, but an earlier shipment from Gisborne reached the maiket in time, and it is reported that best Down lambs were selling off the hooks at Smithfield at Bsd to 9d an extraordinarily good price. Advice just received in Palmerston North from Great Britain states that the situation since the end of October has completely changed, and prices have advanced for all classes of meat. This improvement is attributed to several factors. Firstly, the British Government has restricted shipments of mutton and lamb from Australia and New Zealand by 10 per cent. Secondly, it has reduced tho importations of Argentine chilled beef and, to a stiil greater extent, Argentine mutton and lamb. Another factor has been the imposition of the 40 per cent, duty on Irish fat cattle, practically proliibiting their export to England. The quantity of cattle available from this source is usually 75,000 to 100,000 head. Again, limitations have been placed on the quantities of bacon being forwarded by European countries. The whole tone of the trade is reported to be much better since these definite steps have been taken, and lias been reflected in an immediate improvement in spot prices. The present increase is regarded as mainly a return to more normal levels, and a recovery of the disastrous drop experienced earlier.

Much smaller shipments of New Zealand mutton and lamb have been made since the beginning of the season which commenced on October 1. Wether carcases exported have been reduced in quantity by 36 per. cent., ewes by 17 per cent., and lamb by 56 per cent. Beef, on the other hand, shows an increase of 33 per cent., but New Zealand shipments have but small influence on the market. Early shipments of New Zealand lamb have been sold for 7d to 7ld ex ship to arrive. These prices are Id per lb better than the values for the corresponding period of last season, when they began to fall away immediately after the opening rates and declined steadily until they reached from for prime down to 3£d for second quality. It is anticipated from present indications that there will not l>e such a fall in values later this season, although the rates for opening shipments cannot be expected to be maintained.

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