BEEF OUTPUT OF ARGENTINA

Press, Volume XCV, Issue 28265, 1 May 1957, Page 17

BEEF OUTPUT OF ARGENTINA

“Excessive Reduction Of Stocks” (New Zealand Press Association) WELLINGTON, April 30. The reduction in Argentina’s herds due to slaughtering of capital stock during recent years is the subject of a dispatch from the Buenos Aires correspondent of the New Zealand Meat Producers’ Board, published in the latest issue of the board’s bulletin. Slaughtering amounted to 9.4 million head of cattle in 1950. An unduly heavy volume was attained in that year as a result of that year’s drought, which greatly reduced the carrying capacity of the country’s grazing lands, the correspondent states. The result was a natural decline in subsequent years to 7.6 m head in 1954. In the meantime the country’s stocks had been built up to such good purpose that by 1955 slaughtering had reached 9.46 m head. This was considered more or less normal, relative to the estimated, cattle population. Cows and Heifers Last year, however, slaughtering rose to 11.2 m head, many of which were heifers and cows. The year’s total in heifers was 50 per cent, higher than for 1955, and 200 per cent, above the level of 1954. “In the circumstances it can be concluded only that a process of partial liquidation of the stocks is taking place with inevitable repercussions on future productive capacity and consequently on export prospects,’’ the correspondent says. The National Meat Board admits that an adjustment is taking place in the meat industry, and that this is “both logical and inevitable at the present time,’’ but it is admitted that it demands a “special support policy of the State in order that it may not degenerate into a frank liquidation of stocks which would leave us without exportable surplus within a short time unless we curtailed domestic consumption.*’

STRONG MARKET FOR N.Z. MEAT

London Prices Above Last Year’s (New Zealand Press Association) WELLINGTON, April 30. New Zealand meat continues to. enjoy a strong market in the United Kingdom. Wholesale values in London throughout the last three months have been well in excess of those ruling at the same period last season, says the latest bulletin of the New Zealand Meat Producers’ Board. At the same time there is a good demand for New Zealand meat in markets outside Britain at generally satisfactory prices. The London market has closely reflected variations in supply during the quarter. New Zealand lamb was slow in coming forward at the start of the year and Australian shipments were much reduced. Home production of lamb was also reduced. Prices during January and February were accordingly at a high level. Supply Of Lambs The inflow of lambs sharply increased in March and there was a fall of Id to l|d a pound in market prices. During April this lost ground was recovered and at mid-April values were strong and improving. Mutton has been scarce since supplies from almost all sources are less than last year’s. Values are therefore maintained and improved. Argentine beef shipments in January-February were considerably increased (by 7000 tons) on the comparable 1956 figure, but in March they declined and allocations for the current quarter have been reduced from their former very high level. In New Zealand, production of meat for export is running nearly 3 per cent, below last year’s record level. Total production in the first six months of the present season, from October 1, 1956, to March 30, 1957, was 271,564 tons compared with 279,741 tons in the same period last year. There has been a decline of 3.6 per cent, in the tonnage of lamb produced this season, and of 9281 tons or 26 per cent, in the output of ewe mutton. Wether mutton production has increased by 4180 tons, and chilled beef by 8 per cent. The total amount of chilled beef produced at the end of March was 11,938 tons.

N.Z. MEAT EXPORTS VP 5 PER CENT.

(New Zealand Press Association) WELLINGTON, April 30. A 5 per cent, increase in meat exports by New Zealand was achieved in the 1955-56 season. Final figures show that in the 1955-56 season exports totalled 419,106 tons of meat, compared with 397,908 tons in 1954-55, according to the Meat Board’s latest bulletin. Of this figure, lamb totalled 202.125 tons (compared with 200,145 tons the previous season); chilled beef totalled 22,903 tons (16,836); and boner cow beef totalled 28,908 tons, which was an increase of nearly 10,000 tons on the previous season. Of the 412,692 tons of 1955-56 meat shipped to March 31, 1957, the United Kingdom took 339,126 tons, Germany 14,357 tons, and Italy 12,268 tons. Exports were sent to 29 countries.

CUSTOMS RETURNS FOR APRIL

There was a drop of in customs and excise revenue, and an increase of £23,607 in sales tax revenue in April, 1957, compared with April last year, according to the latest returns from the Collector of Customs, Christchurch. A total of £604,211 in tax and dues was collected during the month, compared with £611,232 in the first month of the last financial year. Detailed figures, with those for the corresponding period last year in parenthesis, are:— Customs and excise, £296,330 (£325,185); petrol tax. £139,840 (£142,446); tyres, £122 (£198); sales tax. £165,092 (£141,485); light dues, £1125 (£1013); miscellaneous, £1702 (£905); total, £604,211 (£611,232).

AUCKLAND Revenue collected by the Customs Department in Auckland during April totalled £2,111,501, against £1,837,704 in April, 1956, and £2,138,521 during March this year. The main items of revenue with the figures for April, 1956, in parenthesis, were:—Customs, £901,591 (£691,758); petrol tax, £437,648 (£464,832); tyre duty, £1563 (£1172); sales tax, £521,400 (£445,447); other duties, £249,299 (£234,495).

COMPANY NEWS

Silknit (N.Z.) Year “Satisfactory”

Although there was a drop in profit compared with that of last year, the directors of Silknit (New Zealand), Ltd., felt that the result of the company’s operations during the last financial year was satisfactory, having regard to the difficult trading conditions encountered, said the chairman, Mr H. M. Rogerson, at the general meeting in Auckland on Monday. The company’s policy of diversification from normal merchandise in earlier years was still being maintained successfully. Forward sales were very satisfactory, said Mr Rogerson, and it was estimated that the company’s turnover would exceed that of last year.

N.Z. Paper Mills.— Recommended final dividend is 5 per cent., making 8 per cent, (unchanged) for the year. The dividend is payable on June 5, ex May 23.—(P.A.)

Hill and Plummer.—Commenting in Auckland on the “encouraging response” reported by Taubman Industries, Ltd., from Hill and Plummer shareholders, the chairman of Hill and Plummer (Mr A. U. Wells) said his directors had advised shareholders, in two confidential letters, of "the position as the directors saw it.’’ He had no further comment to make on the Taubmans announcement.