THE MEAT TRADE

Hokitika Guardian, 9 November 1932, Page 5

THE MEAT TRADE

SMITHFIELD 1 MARKET CONCERN.

(United Presg Association—By Electric Telegraph—Copyright.)

LONDON, November 8,

Though forward selling has improved by the Ottawa agreements’ limit to import, the Smithfield 1 market was thrown into an erratic condition owing to the uncertainty as to how the stocks in cold storage would be handled. These, as Major Elliot hinted, may prove a more difficult problem than the new imports. Present stocks in cold .store include 750,000 carcases of New Zealand sheep, 350,000 Australian, and -a smaller quantity of Patagonian. . It is expected that the agreements will improve the price of Australian shipments arriving in December and January, usually Australia’s worst months.

EFFECT. OF AGREEMENT,

LONDON, November 8

Meat authorities are convinced that reduced foreign dominion shipments, combined with a higher tax on Irish live"cattle, •\H]F’ f sobh , 'prß<fuce’’ aL higher price at Smithfield. The agreement, however, i'-i unlikely to immediately affect the Dominions, but the reduction of South American supplies are certain to strengthen the market,

SMITHFIELD PRICES IMPROVED.

(Received this day at 9.2 ft a.ml

LONDON, November 8,

After early uncertainty, prices for mutton and lamb at Smithfield rose half a penny all round. Australian and New Zealand importers are forming a committee to study the restrictions’ effect oh the market in order to avoid any undue disorganisation.

Mr Brace spent the greater part of the day conferring with meat interests. In this connection, Mr R. S. Forsyth, Chairman of the New Zea land Producers’ Board, is co-opering.