The Meat Trade.

Hokitika Guardian, 24 February 1922, Page 3

The Meat Trade.

AUSTRALIAN PASTOR A LIST’S VIEWS. LONDON. Eeh. 20. Interviewed by the Australian Press Association, Mr Edmund Jowett (a well-known Australian pastoralist), said that while the markets for frozen mutton and him!) had made a. splendid recovery, Australian and New Zealand beef was in a deplorable position. Chilled Argentine beef w"W selling freely at very low prices, but the best Aus--11a! asi an was almost unsaleable. The difference between the price of English fresh beef, which is up to 93d a i.l), and Australian at 3)tl was astounding, lu> said. The great rise in mutton was duo to the sudden discovery, early in January, that enormous stocks of New Zealand mutton, accumulated during and after the war, had practically disappeared. This seemed amazing, but it was confirmed on every hand that there were no adequate statistics regularly avnilalbe regarding the stocks of frozen meat available in stores in Great Britain. When the stores were emptied of mutton and lamb tlicie were no great sou roes of supply, Argentina was almost a negligible factor in lamb, and not so serious a competitor in mutton as in beef; hence the great rise* in prices of mutton and lamb. “ But there is no such consolation for pinducers and owners o) frozen beef, who are exposed to the fiercest competition. Argentine chilled beef, of which there are enormous supplies, is being forced upon Great Britain. Australia’s distance from Europe makes it impossible for it to specialise in chilled beef as Argentina- does. Australia’s adverse position is aggravated by great aoeumulatioiis of old beef which was bought by Vestoy Bros., Ltd., in 1920, at a high price, but which they are resolved to dispose of even at a loss. They hold 150,000 quarters of old or .stale frozen beef. The knowledge that this must bo sold, either at Home, or abroad, has a very depressing effect on all frozen beef, but T would advise the graziers of Australia not to abandon hope, and. above all, not to make forward sales based on the present low prices in London. “ The depression is due largely to temporary causes; The old stocks must he worked off sooner or later. Also, there is a huge fight for control going on lie-

tween two great sections of the Argentine chilled beef importers. Humanly sneaking, these groups cannot fight indefinitely. They must, sooner or later, come to an understanding, and it may then he found that the stocks of old frozen beef have disappeared. A recovery in prices limy then lake place. Nobody cares to advise, for fear of tnisIsudiiig. but against the pessimists, who are prominent. I submit that there are many rays of hope that liefore long the position will improve materially. We know, for a certainty, that tho present low prices have considerably increased consumption. Unfortunately, if is chilled, not frozen, beef that is most affected.