FROZEN MEAT.

Dominion, Volume 3, Issue 641, 19 October 1909, Page 9

FROZEN MEAT.

THE RISE.IN PRICES. A MOST HOPEFUL SIGN. (By Tdeeraph.-Special Correspondent.) , Chrlstchurch, October 18. Commercial men in.the city regard the newa of the substantial risi in tho value of frozen meat as n most hopeful sign, and an augury for the Dominion's rapid emergence from the oomlition of financial depression which has prevailed for some months past. The most of them agreed that as the bulk of tho New Zealand stocks had probably been.sacrificed for a mere eong some time ngo no great actual monotnry return would bo. secured from tho rise. Still the'moral effect upon tho trndo genorally would be very beneficial indeed. As to the caure for the sudden rise no very definite information was available. One gentleman interested in the meat trado complained somo-.: what bitterly to a "Press" reporter of the manner in which New Zealand was treated by the oablo service. He said it was hardly conceivable that the market could have' niado such a wonderful rocovery in a few days, and yet no indication was given that an improvement was imminent. Tho drought in tho Argentine, the delay, in the arrival of Australian shipments, tho clearing out of New Zealand stocks, and the improvement of trado , at Home, were all mentioned as contributing ''-'causes.': The speaker said mutton supplies had'been restricted for. some time,'whilo the price had been low, ensuring a good demand. ■ The present time.was the mutton and beef season nt Home,, and lamb .was not much in demand. Tho speaker's private opinion was that the rise had been ovordono, nna that prices : (especially for lamb) would recede somewhat.":'lt would at least threo weeks to show what the values. really were.. At tho present' time, the cabled values..were big for mutton, and Would lie good: for lamb oven in a normal season, but in the face of the high stocks at Homo, it was difficult to beliovo that,the present quotations would be maintained. At tho same time,, it was evident that, the frozen meat market, had taken on ■ a much..healthier tone. Tho,range of. pricee ' appeared to; indicate • speculative values.... There might have been sales to-"re-tailers on that.basis,,but the' quantities would probably'.bo found'tb: bo, very: small. As. a. matter 6f-fact,., the cnblo message ■ stated that'. tho.retail..trade had not.responded.to the advance. Tho cabled quotations, it , must bo borne, in mind, were on. a basis of sales of not less_ than-.a hundred carcasses,, and tho prices given were always the best for the.week. The speaker never,, in all' his experience,. remembored. 6uch a jump as 1.5-lGd. per lb. Iα » week, but then again, nobody had oven hoard of such h Tall as had taken place somo mouths ago, and from'this point of view the news .was most .cheering; Several other gentlemen interested in'the trade were nwaitins confirmation of tho news, but they felt, that although New. Zealand' growers might, not bo able to participate so advantageously in tha rise-at the present time as if it had occurred a couplo of months ago, still they would '■ bb nblc to make 'a'dean start, with a bare-market next 6eaeon; ;' '' •'..,'.. ■ s :■■ ~. ■ ■