1908.] 



Provision Trade in October. 



639 



pastures, and both cattle and sheep have sold quite as well as could be 

 expected in comparison with the price of meat. The latest markets have 

 shown an improved demand for sheep, while cattle of good quality are 

 making at least as much money as last year. 



THE PROVISION TRADE IN OCTOBER. 

 Hedley Stevens. 



Bacon, — The month of October has been a trying one for the trade, 

 especially for those handling very mildly cured meats, on account of the 

 extremely mild and humid weather, The consumptive demand continued 

 below the average, and prices for most selections were slightly easier, 

 Canadian sides showing a drop of $s. to 6s. per cwt, bringing this article 

 more into relation with Danish prices. Killings have been heavier in 

 Canada, so freer arrivals from that country may be expected in the near 

 future. Arrivals from Denmark in London have averaged about 14,000 

 bales weekly, with the exception of one week, when the total exceeded 

 17,400 bales. American bacon and hams have experienced a gradual 

 decline in prices during the month, but values are considered to be far too 

 high, and further reductions are generally expected. Some American 

 packers are now offering to contract for the winter supply, but ask prices 

 which English importers refuse to entertain. Arrivals of American have 

 not been heavy or prices would have shown a greater reduction. Some 

 letters from Chicago written in the third week in October report very small 

 killings of hogs. Those coming to that market are still light and poor in 

 quality, and it will be some time, probably two "months, before they begin to 

 show the effect of the new corn crop, the quality of which is excellent. 

 There has been a fairly plentiful supply of English pigs, with declining values 

 towards the end of the month. The demand for English bacon has been 

 .good, the cheaper pigs enabling curers to compete with Danish and other 

 imports. 



Cheese. — All markets have experienced a small demand throughout the 

 month, and merchants generally report that, owing to the adverse conditions, 

 trading has been very unprofitable. Canadian cabled prices for the Sep- 

 tember and first half October makes were about 60s. at the commencement 

 of the month, but English buyers made a determined effort to break the 

 prices by abstaining from contracting at the extreme figures asked, with a 

 partial result, as stocks increased at Montreal, causing prices gradually to 

 decline. By the middle of the month some shippers were offering finest 

 September-made Brockville and Belleville section lots at $ys. c.i.f. terms, 

 showing a fall in price of 5^. to 6s. per cwt. At the end of the third week 

 a reaction in cabled prices set in, and by the end of the month offerings of 

 a similar description had advanced to 59.? -6ar. c.i.f. This had little if any 

 effect on spot trading, buyers being most apathetic. Grocers anticipate bad 

 ■trade during the winter months, and argue that the consumption of cheese 

 will be much smaller at the present high prices. Also with the probable 

 large arrivals of New Zealand in the spring, their policy is to buy from hand 

 to mouth, instead of contracting ahead as customary. The estimated 



