§ Mr. Soames
The increase in wholesale beef prices, and to a lesser extent 9W lamb and pork prices, at Smithfield last week, reflects a moderate easing of supplies of home-produced stock, and in the last week or so somewhat smaller shipments of Argentine chilled beef. Looking into the future so far as one can, I would expect the level of supplies to be such as to create a firm market for the next few weeks. I would then expect supplies to increase, with a consequent fall in market and wholesale prices.
As to the effect on the consumer, I expect retail prices to be sensitive to movement of market and wholesale prices.