FROZEN MUTTON TRADE

Nelson Evening Mail, Volume LXIV, 12 January 1931, Page 10

FROZEN MUTTON TRADE

OUTLOOK NOT PROMISING FALL IN SHEEP VALUES (By Telegraph—Special to “The Mail”) According to the manager of one freezing company in Christchurch there is no keen desire by those in the freezing industry to buy mutton for freezing purposes, as the opinion at present is that mutton is a dangerous commodity fen* export in view of supplies in London with freezing companies not operating in the mutton market to any great extent. There is likely to he a further fall in sheep values at Addington stuck market on Wednesday next following on prices last Wednesday that were the lowest for many years. Should tho price of mutton drop,' the price of meat in retail shops will also drop accordingly. ’1 hat was tho opinion of a leading Christchurch butcher to-day. One man pointed out that the New Zealand producer was very seriously handicapped by the high ’ rate of exchange that, operated against the Dominion. This made prices very low for the producer, for New Zealand operating against South America for example with an exchange rale of 25 per cent would have to give a discount amounting to over 20 per cent even if its produce was realising an equal amount. On these grounds the South American exporter could give his discount and not lose, but a New Zealand concern always lost and to make up its deficiency had to lower the price to the consumer'. This state of affairs was having a big influence on the stock market.