§ Mr. Priorasked the Minister of Agriculture, Fisheries and Food what are the causes of the low prices of fat-stock at the present time.
§ Mr. SoamesI assume that my hon. Friend is referring to prices of fat cattle, for prices of pigs continue firm and the recent easing of lamb prices was only to be expected with larger numbers coming off farms.
Marketings of fat cattle have been high for this time of year. Some cattle have been sent forward sooner than usual because of the early grass season; others may have been attracted by the high guarantee. A number have been less mature than usual, producing less meat in relation to bone and so being of lower value to the buyer. The firm demand for pork, the popularity of lamb for this time of year, and the plentiful supply of poultry may at present have turned interest away from beef. Talk about larger imports may also have influenced buyers, but in fact total beef imports in the first six months of this year are, according to our latest estimates, about 12 per cent. down on last year.
The combination of these factors would account for a fall in the price of fat cattle. But—as has happened before—the fall has gone farther than the general situation would seem to warrant.