i9io.] 



The Provision Trade in June. 



339 



THE PROVISION TRADE IN JUNE. 

 Hedley Stevens. 



Bacon. — Prices have fluctuated but little during the month, but on 

 the whole they have closed slightly higher than at the end of the 

 previous month. Arrivals from the Continent have been small, and 

 although the consumptive demand continues to decrease, there is no 

 accumulation of stock at any of the ports, on account of the diminished 

 arrivals from all points. The shortage in the arrivals from the United 

 States and Canada is more apparent, and those specially engaged in 

 that section of the trade realise that they will be passing through a 

 very critical time during the next three or four months. Advices from 

 those countries report that now they are experiencing warm weather the 

 country jobbers are forced to discontinue killing hogs, not having 

 refrigerating plants. This diverts their trade to the large packing 

 centres, where stocks in the cellars are abnormally small. This addi- 

 tional demand will naturally still further reduce the quantity available 

 for export. 



During the month there has been a little contracting by English 

 houses for June and July shipments, and at very high prices ; 825. per 

 cwt. c.i.f. terms has been paid for certain cuts, which last year at the 

 same time were selling at about 635. per cwt., and two years ago at 

 about 465. American hams on spot are making from 22s. to 25s. per 

 cwt. over prices current last year. American lard was easier during 

 the month, and proportionately cheaper than bacon, prices ranging from 

 45. to 55. per cwt. only over those of last year. Doubtless this has been 

 caused by the smaller consumption of lard, as, on account of the high 

 prices, lard substitutes are being freely used. 



Russian and Manchurian bacon is arriving in larger quantities, the 

 former selling freely on account of the improved quality, but the Man- 

 churian still continues more or less unsatisfactory. 



English and Irish curers report a fair trade, their goods being 

 relatively the best value at present prices, but business is, of course, 

 hampered by the continued difficulty of obtaining a sufficient number of 

 pigs for slaughtering. As July and August are usually the largest 

 consuming months, they anticipate that the real pinch of the shortage 

 is yet to be felt, and still higher prices must be expected. 



Cheese. — Contrary to expectations (with all fresh and cured meat 

 so high in price) the consumptive demand for cheese has continued 

 disappointingly small, more especially for new makes, there being 

 plenty of last season's goods on hand, and at the difference in price they 

 have been relatively better value. This has caused an accumulation 

 of new makes at most points, and conditions being favourable for a 

 large make, both in England and Canada, it is thought by many that 

 present prices (although below those current last year) cannot be main- 

 tained. 



A moderate amount of contracting was done with Canada during 

 the first few days of the month for the best districts of June makes, 

 at around 53s. c.i.f., which is about 2s. to 35. under last year. Im- 

 porters, however, stopped buying towards the end of month, as stocks 



