FROZEN MEAT TRADE.

Temuka Leader, Issue 2702, 23 August 1894, Page 1

FROZEN MEAT TRADE.

The following i 8 the report of the Frozen "jyleat Trade (per A. Towers), f ‘jt the month ending July 13th, 1894: The accumulated stocks to which I referred four weeks ago have grown still larger, and the pressure upon the available storage accommodation is greater than ever. Vessels are unable to discharge their consignments because of want of space in the stores. All this is of course very much against the maintenance of values. These have, in the case of mutton and lamb, fallen sensibly during the month, and may be said to be quite £d per lb lower. Whether or not it is wise to force down quotations to this extent, when values are sufficiently low, is open to question. Australian mutton is decidedly weak, and lower rates than I name have been accepted in some quarters. But the reason is probably the competition of the River Plate Mutton. In New Zealand brands there is the same lowering tendency, and some large holders seem very anxious to realise. Stocks all round are heavy. A. little firmness was expected with Canterbury brands, bnt these have given way in sympathy with other qualities. Of lambs the supply continues abundant and gradually the values are receding. This is not what was expected in the face of a most favorable season for hay, and grand prospects for the corn harvest. ]3 ee f—Two days ago the outlook was very gloomy and prices touched Is 7d for hind quarters and Is Id for fore quarters. The Railway Strike at Chicago suddenly changed the aspect of the market. With short supplies or a possible total cessation of supplies American chilled beef a sudden impetus was given to the demand for frozen beef and values have advanced. The largo supplies bore have prevented a much higher rise. We may expect hardening rates to rule until normal supplies of American chilled beef again come to hand. The present quotations are : Hutton Now Zealand, best North Canterbury, 2s (jd to 2a 7d; medium and

good grades, 2s 2d to 2a sd; Australian and Queensland' sheep. Is 7d to Is 8d« per 81b. Lambs—Best North Canterbury, 3s to 3s 2d ; other brands, 2s 9d to 2a lod, per 81b. Beef—Queensland, hind quarters, Is lid to 2s; fore quarters, Is4dto Is 4d, per 81b