FROZEN PRODUCE.

Press, Volume LXIII, Issue 19154, 10 November 1927, Page 16

FROZEN PRODUCE.

AUSTRALIAN CHILLED BEEF FOR LONDON. BREED AND QUALITY OF LAMBS. <T*OM OCR SPECIAL CORRE6FUXDE.VT.) LONDON. September 29. There is hardly any market in the world that ran more quickly assume startling changes or a more complete reversal of ruling atmosphere than the wholesale meat market with its vast e\stem of supplies from near and far. As between, say, midsummer and .Michaelmas Day, a thorough tliange of outlook r.mi prosiK"-t.» has come upon Wot .SmithiieM, and by '-'West ISmithnel'i"' "ne inc.ui? the whole Ijamui of firms o\ importers, wholesalers, and agents., who. while they ply tlie'r wholesale business in town or" country ha\e their e\es on the shipping channels and Dominion export fidvi«-e«. At midsummer there seemci nothing that could lli.-k 'i-voiincss or improve--! price r.v.o the frozen mutton and lam;> :.l>:ih>s. in view of the peiH'towe of di.li demand. -List a fewhad their eyes upon this prospect, and 1.1 K>n it apparent that AusT-.i'n was to h* *ate and Uvri. wlii!? currcnt stc-k = wore not heavy. Tk\-P looming factors have suffV-r-d to tip the male, with the result that the_ much higher prices now- known at both ends of the table are now ruling, with a B-till firmer tendency. It is sa.d tint all the lamb and mutton supplies cu hand are -'well held. - ' in fict it looks as if some who always take i pan in the trade will «av* difficulty jn finding their supplier That these will just satisfy the ordilary demand for the remainder of the season is net doubted, but with the speculative element entering the business at such an obvious opportunity, forward rates are being talked up xo r. level at which the limit of safety rr.ny he passed. Indeed, those rates- are already tending to check business, and there i* nlways the danger of this factor ruling at the year end to the detriment of the New Year's business, when the pendulum is always apt, in such circumstances, to swing heavily against the seller. Among the current features of the trade are to be noted the brighter demand for heavier weights of lamb, and also the strong forward enquiry for ewes.

More Chilled Beef from Australia. "When the third commercial test of a (system is successfully passed, it is generally regarded as haying got through its teething troubles. The fourth shipment of chilled beef from Australia under the Rayson chilling process exploited by the Perfect Food Process Proprietary, Ltd., is now on its way to this country. Last year it had been expected •by some that a regular series of shipments of beef tinder this system would be entered upon, but apparently the promoters of the process are determined) to proceed carefully, hence the fact of the gap between the last and the present shipment. It is now nearly two years and a half since the first shipment arrived on the Port Darwin. It will be remembered that that first shipment arrived in a partly desiccated condition which affected its commercial value. The next shipment, that of the Port Auckland, was extensively affected by mould due to being carried in a too humid atmosphere and at slightly too high a temperature. The third shipment, on the Port Hardy, was nearer •triking the happy mean and, although the conditions of loading were adverse, arrived in Great Britain with only the slightest trace of mould, and in a sufficiently fresh condition to realise only about a halfpenny per lb less than other chilled beef on that market. Many of those who observed these three trials over the two-year period were of opinion that enough had been achieved to lay claim to commercial practicability for the system, provided that costs were not excessive. Although a frank and open record of the conditions of the equipment was forthcoming from the inventor when he attended London with the last shipment, the writer is not aware that there has been any final word as to the lowest overall cost per pound of meat •hipped aa a figure of freightage which the trade can rely upon in order to'form a settled conclusion as to the chances of the "Perfect" system. There are, of course, other tions affecting the future of this process, or rather its chances of success, if it is to be put into regular operation over the Australian or New Zealand voyage, in competition in Great Britain with the great flow of Argentine meat traffic up against which it will have to »trive in the ordinary market way. It would need the strongest backing to stand the market test against such a powerful business as that coming over the shorter voyage. The present shipment on the Port Huon should reach market when prices are fairly good, having in mind the recent appreciable rise. At the same time there is always the great risk of a heavy dump of dulled South American beef at any moment, so that interest will chiefly attach to the technical success attending the present cargo, rather than its particular market fortune. Victorian Lamb. Dr. S. S. Cameron, Victorian Director of Agriculture, has, been devoting th« last few weeks to studying at first hand the market and pastoral conditions in Great Britain with a view , to discovering the best type of lamb to oxport from Victoria to the Britisli markets. In the course of conversation this week ho told the writer thatno Australian State, not even Victoria, can hope to come, in the near futiire at any rate, anywhere near an equality with. Now Zealand in the export of lamb suitable for British consumption. The fundamental reason, he pointed out. is that whereas in Australia the merino and merino cross strains preponderate, in New Zoaland there is comparatively little merino blood. In other words tho typical New Zealand sheep is a mutton sheep and tho typical Ausfralian sheep a wool sheep.

Small, Rne Lamb Wanted. Dr. Cameron has discovered in all the British moat distributing centres that the demand is for a small compact fine grained lamb •weighing not more than 361b, and preferably nearer 301b. Such lambs are sold at a premium of Jd to Id per lb over otherwise good lambs of heavier weights. The dearness of living since the war has made smaller joints, whether of mutton or lamb ,an economical necessity, and in the case of lamb there is the additional reason that most consumers consider email lamb of the Southdown or similar breeds to be sweeter than others. Dr. Cameron thinks that the deservedly nigh reputation of New Zealand lamb is due to the facts, first, that it comes mainly from sheep of the mutton type, and, second, because it can be produced in far greater abundance won elsewhere.

What Bmifchfield Thinks. Most of the meat salesmen agree that, from a meat point of view, almost flock of sheep can be refined by the introduction of a Down strain, especially Southdown or Suffolk; but t*«y admit that this selection takes Jo account of wool potentialities. *bere are some who hold that a good •MapqpßUM bc&weaa a meat sheep and

a wool sheep, is the Ryeland. because, I'liilc that, animal is compact enough for butchers' requirements, it Ims not that Down blemish of a black face. Its wool is consistently white, and accordingly more valuable. The Ryeland probablv comes nearer a dual purpose sheep than any. and is growing in favour both in this country and abroad. Southdown-Romney Crosses. Smitbfield has been very pleased with the results of recent shipments of lamb representing a cross between Southdown rams and Tvomney ewes. They are frankly meat lambs, making little or no pretence to woo] potentialities. Except that they are rather on the fat side, butchers who cut them iip say they can see in them a useful trade in the future if care be taken to brinsr them out a little firmer and lighter.

ROMA OIL BORE. ENCOURAGING REPORTS. l*T cIBLI-raiSS 1330t'IiTIOS—COrTRIGHT.) AtSTiUI.IA* i.ND 9.1 Cißl.l iSJOCUTIO*.. BRISBANE, November 9. Further encouraging reports have been received from the Roma Oil bore, which in two tests of half an hour and an hour yielded 128 gallons of emulsion, containing ten per cent, of oil discharge and 340 gallons giving -15 eallons of white oil.

The report that there is less emuifion is regarded officially as important.

BANKRUPTCIES. The number of insolvencies registered in the month of September was 64, against 7S in September, 1P26, a. ,/eduction of 14. For the nine months to the end of September the bankruptcies registered were 623, as compared with 562 in the corresponding nine; months of last year, an increase of 61. Of the total 144 were recorded in the North I=!and, and of these 2GS occurred in the Auckland district and 176 in the Wellington district. For the twelve months ended September 30tb. there were 785 bankruptcies against 736 in the previous yew, an increase of 49. The bankruptcies in each month for the past two years show as under:

192.5-26. 19?6-27. No. No. October .. .. 73 Gl November .. ..40 58 December .. ..51 64 January .. ..SO SO February .. ..60 60 March .. ..68 94 April .. ..SO 69 May .. .. C 6 72 Jung ..' ..60 95 July .. ..85 64 August .. ..66 Si ■ September .. ..78 64 '36 785 It is perhaps an indication oi improvement that in the last quarter there were 4't fewer bankruptcies than in the corresponding quarter of last year, the figures being* 182 against 229.

DAIRY PRODUCE. The New Zealand Dairy Produce Board has received the following market report from its London agency, dated November 4th, 1927: BUTTER. New Zealand —Salted, 166s to 172t, closing firmer 168s to 174s (last week, 172s to 1765); unsalted, 184s to 188s (184s to 188s). Market firmer after considerable activity at lower prices. Australian—Finest salted, 168s to 170s (170s to 1745); unsalted, 176 i to 180s (176s to 180s). Argentine—Finest unsalted, 166s Is 170s (170s to 1745). Irish Creamery—Salted, 164s to 168s (168s to 170s); unsalted, 170s to 174s (172s to 1745). Dutch—Unsalted, 182s to 186s (184s to 188«). Esthonian—l74s (1745). Siberian —150s to 154s (150s to 1545). Danish—l9os (190s). Retail prices being reduced on Monday to Colonial Is 9d, Danish Is lOd. CHEESE. New Zealand —White and coloured, 100s to 102s up to 103s (last -week, 101s to 103s). Market very quiet. Canadian —Finest white and coloured, 102s to 103s up to 104s spot, with- e.i.f. quotation ranging 92s to 95s October make, 97s to 98s September, but little business.. English—Finest farmers, 126s to 1301 (126s to 130s). Retail prices unchanged. Tho Board has also received advice from its agents in Canada as follows: Butter —New York, 48 cents (2s); Montreal, 37i cents (Is 6Jd), slight Improvement in demand. Cheese—Montreal, 18! cents (9gd). EXCHANGE RATES.

NEW ZEALAND ON LONDON. As from yesterday the folßnrlng rates of exchange, New Zealand on London, are in force:— Buying. Selling. Telegraphic, Preminm. transfers. .. 17s 6d p.e, 10s p.e. ». Demand .. 7s 6d p.e. 12s p.c. .. 3 days „.. 20s p.c. .. 30 days .-« Par Discount. 80s p.e. ... 60 days .. 7g 6d p.c. 40s p.c. ». 90 day* ~ 15s p.e. 50s p.c. „. 120 days ... TARANAKI OILFIELDS. (racss isaocuTiojr ctleobam.) GISBORNE, November 9. Taranaki Oilfields report:—Waiapu No. 2 well —Depth 2505 ft in grey shale, BJln diameter, easing to 2185 ft. Gisborne No. 1 well—Depth 1300 ft, alternating sandstone and sandy shale, lin diameter casing to 1270 ft.

WHEAT. (BT CABLK—PKJtSS ASSOCIATION—COPTRIGHT.) (ATTSTBALIAH A*D K.Z. CABLI ASSOCIATIOK.) NEW YORK, rlovember 8. Chicago wheat quotations:—December 125 i, March 139}, May 132 cents per bushel. WOOL. MELBOURNE, November 8. At the woolsales the week's operations disclosed a very strong and buoyant market for all descriptions, other than very inferior sorts, of which but little was seen. (Received November 9th, 11.55 p.m.) . SYDNEY, November 9. At the 'vool sales there was a. strong market with values equal to the best rates of the week for all descriptions. There was keen general competition, with an especially strong demand for sliafty fleece wools and finer descriptions suitable for the Continent. Grea*y merino fleece «old to 32d.

BUTTER. (Received November 9th, 5.50 p.m.) SYDNEY, November 9. The wholesale price of butter has been reduced a penny a pound to lS6s 8d per cwt. COMMONWEALTH SHIPPING BOARD. f»T CABLS—PBISS ASSOCIATIOK—COITHIGHT.) (AUSTRALIAN AND K.Z. CABLS ASSOCIATIOK.) CANBERRA, November 9. The balance-sheet of tho Commonwealth Shipping Board for the year ended March 31st last shows that operations resulted in s> loss of over £130,000, the earnings being £1.523,803 and the expenditure £1.654,701. The total liabilities are shown at £6,876,000, ead tha asset* £4,754,000.