EXPORT MEAT PRICES

Dominion, Volume 32, Issue 154, 25 March 1939, Page 4 (Supplement)

EXPORT MEAT PRICES

Market Firms Slightly

LONG-TERM COMPARISONS After the sagging in meat values for the past four months, and more in.some lines, it is pleasing to note that a firmer tone is now evidenced. It appears that bottom was touched in late February, and some recovery may now be looked for. Considering the tremendous strains imposed on trade by tfie international situation since September, we can count our trade as fortunate that values held so well. The one really weak market is that for mutton, ewe mutton particularly. Lamb and beef are selling at fair prices. A report from London states that “there is a solid 'body of opinion that this is likely to be what is termed a ‘red meat year’—with beef preferred to the white meats, as mutton and pork.” There is said to be demonstrated a strong reluctance by the consuming public to Pay higher than recent prices for lamb. Supporting that is the very heavy stocks position, both lamb and mutton being held excessively. Till these are reduced the market will hardly be truly healthy. New Zealand lamb stocks, too, are very heavy. Current Schedules. Sheep-farmers’ receipts are approaching slump levels with fat ewes at 8/3, fat wethers at 17/-, and lamb at bja. schedule. Though the ewe price is understandable, that for lamb appears decidedly too low. A 6Jd. lb. schedule appears unjustified, either on the present market or on prospects ahead. A fair price for lamb today appears to be 7Jd. to 7i!u. ID. on hooks. . Wethers on carcass value are worth the same as in January—from 18/- to 19/-. Today these sheep carry two months more growth of wool; that should provide another l-Jlb., which should be worth an extra 1/- net. Therefore, wethers should now be worth 19/- to 20/-. On current Smithfield market, chiller cattle should return fatteners about. 33/1001 b. That, is a good price- A x ' V ?} kat ? property has averaged £ll/10/-to March 10 for all chillers drafted —since midAugust. They were all young cattle, none over three years and four months.

Smithfield Values.

Current Smithfield quotations, compared with past ones, are as follows:— Lamb: North Island Downs, oGlb. and under, 7Jd.; a month ago, <Jd ; two months ago, Sd.; a year ago 7jd.; two years ago, 7id. lb. Wethers: 49-561ib., 4^d.; a month ago, 3}d.; two months ago, 4Jd.; a year ago, 58d.; two years ago, sjd. lb. Ewes: 49-641 b.. 2gd.; a month ago, 21d.; two months ago, 24d.; a year ago, 3jd.; two years ago, 414. lb- , , . Chilled beef; ox hinds, 140--101 b., 4t<l., a month ago, s}d.; two months ago, aid., a year ago, 51<1.; two years ago, 4Jd. lb. At 7jd., the lamb price is not to be judged as “low”; it is only Jd. lb. down on the past two years at the same date. Latest advices tell of an increase in consumption.- as there should be, for this is spring in England. But. because of heavy normal arrivals. New Zealand linns usually sells in March at below its full season’s average. ~ Wethers staged a recovery of fid. lb., or 2/-, on a 541 b. carcass. Carcass value i« now hack to early January’s level, but still is 20 per eent. below both one and two years ago. Not since 1 have wethers sold better on Smithfield. Ewes remain a drug on the market, but the upward trend of wethers should steady this meat, with a possibility ot slight improvement. It appears that New Zealand chilled beef is having a decline on its own, for Argentine, which really rules the n, arket, is selling well and steadily at 6d. lb., full lid. lb. above New Zealand ; usually the difference is about ’ one-half of that. March is usually a low-price period lor New Zealand chilled beef on Smithfield; last year’s March price was §d. lb. below the year’s average. Export Killings. > February killings for export were: 6750 chiller ox ami 5000 freezers, which greatly exceeded January s tallies; almost wholly North Island cattle. Fat lamte nt 1 942.000. were down on January’s tally by almost 400,000. Wethers at 361.000, exceeded ewes at 360,000. the North Island providing about 65 per cent, of all mutton. For the season to the end of February, chilled beef is down 300 bead, or lj- per cent., but frozen beef is up 6000 head, or 92 per cent., on last year. There is also a very big increase in wethers, which are up 204,000, or 42 tier cent., on a year ago. Ewe« are down 46.000, or 9 per cent., and lamb is up 735,000, or 14 per cent. A surprisingly great number of stock lias yet to be drafted. To reach last full season’s tnllv. there must yet go to works 36,000 chillers. 28.000 freezers, 326.000 wethers, 684.000 ewes, and 3.240,(>00 lambs. This means that one-third of the season's lambs, one-third of the wethers, and two-thirds of the fat ewes, had yet to be drafted on March 1. Only 40 per cent, of beef cattle had been drafted to the end of February. _ Schedule and, Smithfield prices are still of direct interest to fatteners.