THE MEAT MARKET.

Taranaki Daily News, 7 March 1921, Page 5

THE MEAT MARKET.

EXPORT TRADE CONDITIONS. THE DISTURBING FACTORS. The position of the meat export trade was briefly discussed by the chairman of directors of the Auckland Farmers' Freezing Company, Mr. 8. J. Ambury. He said there was practically no market at present for meat in Britain. Earlier in the season the prospects were fairly bright and‘good prices had been obtained for early shipments. The quotations’ for beef had gradually dropped from 45s per 1001 b, to a present tentative quotation of 255. This meant that there was no business being done. The position, he considered, wiw largely due to the impending decontrol of meat in Britain. Owing to this, people in the trade in England were ndt making any forward purchases. Prices- for meat were still fairly high in England, but it was anticipated there would be a drop when decontrol took place. Mr. Ambury added that if people did not get “pannicky,” he had every confidence that the market would find its level at reasonable prices. Meanwhile, with the cessation of buying by exporters, there was bound to be an all-round drop in meat prices, both on the English and the local markets.

Referring to freights-, Mr. Ambury said that in view of the market conditions, the increases recently announced were a serious handicap to the export trade. Prices for all the Dominion’s primary products, except butter, had receded and the increase* in freights on wool, meat, hides, pelts and tallow constituted a heavy additional tax on the farming community. Instancing the manner in which freights had gone up during the last few years, he said the freight on tallow was now £9 15s a ton, compared with £1 los in 1912. Judging by the prices some of the lower grade* of wool were fetching at the local sales, these grades of wool, if shipped to England, would realise hardly sufficient to pay the freight and other charges incurred.

Mr. Ambury said the existing freight rates would operate only until the meat held in store for the Imperial authorities had been shipped. Under normal conditions, a clearance should be effected before the end of April, and the freezing companies would then make their own freight contracts with the shipping companies. The waterfront trouble in the Dominion, if prolonged, might delay meat shipments and create a difficult position in regard to storage. At present, however, it was not anticipated that the stores would become so congested that any of the works would be compelled to close. Asked if there were any prospect of a decrease in freight rates for “free” meat after April, Mr. Ambury said the shipping companies had not yet announced their rates. “All 1 can say is that we do not expect the same freights' a* we had in 1914, and. we do not expect the same prices l for our produce; there should be a higher standard all round.”