Report on the trade in refrigerated beef, mutton and lamb

Bibliographic data

Monograph

Identifikator:: 1800540760

URN:: urn:nbn:de:zbw-retromon-185131

Document type:: Monograph

Title:: Report on the trade in refrigerated beef, mutton and lamb

Place of publication:: London

Publisher:: Stat. Off.

Year of publication:: 1925

Scope:: vi, 65 Seiten; Ill., graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter IV. From overseas pastures to british ports

Collection:: Economics Books

J { buyers who, long before the killing season begins, visit farms and form an estimate of the supplies likely to be available and, roughly, the proportion of each grade. Some buying may take place at this early stage, though, as a rule, both works and farmers do not care to commit themselves until they have some idea of probable london prices. To obtain this information, the London organisation or the London agents are freely con- sulted. In the case of British firms owning works in the Dominions, the proprietors are, of course, in close touch with the British market and they issue instructions to the works as to the prices which they should give for stock. The works manage- ment informs the London organisation whether buying can be done at the prices named. Frequently, the works are instructed as to the output required, the stock-buyers being left to follow the market to obtain supplies. When freezing works rely on agents in this country, the usual and most satisfactory method is to make or ask for a firm offer of meat. This preliminary offering may take place some weeks before the killing season begins. If, for example, the season is expected to open in October, the works may cable over to their London representa- tive during September, or even earlier, an offer of 10,000 lambs at, say, 10d. per 1b., shipment to be made during October. The London representative will immediately offer these lambs to various firms and, if possible, endeavour to obtain a higher price than 104. If he obtains an offer of 10d. or above, he will accept and cable out to the works to that effect, adding, as a guide, whether the trade generally was ‘‘ interested ” in offers at that price. If he cannot get 10d., he will probably cable the highest counter-offer he has received. From this information, the works will decide upon a buying price which will show a profit after taking into account what will be obtained for the fall,” s.e., the skin and offal. The stock-buyers will be instructed accord- ingly, and will visit farms or sales and buy to cover the trans- actions already made. The speculative character of the business, both in the Dominion and in this country, can be seen from this simplified example. In the first place, the London buyer, in September, agreed to pay 10d. for lambs that may not arrive until well into December, and, between the time of his purchase and the time of the arrival of his goods, the market may change considerably. It should be remarked that shipment during October is fulfilled if the lambs are placed on board ship on or before October 31st, though the vessel may not sail for a con- siderable time. In the second place, the works have sold at 10d., and when they try to buy stock, they may find the market against them so that the deal shows a loss. Of the two, the works are in the better position on this one transaction, as pre- sumably they would not have offered the agreed price unless they believed that they could buy to show a profit. It will be seen from the above, that the weeks which precede the opening of the season are of great importance to the freezing

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