COMMERCIAL NEWS

Ashburton Guardian, Volume XLIII, Issue 9749, 14 December 1922, Page 8

COMMERCIAL NEWS

ADDINGTON MARKETS. (Per Press Association.) CHRISTCHURCH, Deo. 13. A+ the Addington market to-day arts ud prevailed throuehout. IW c<tore Sheep.—There was a hig entr? Wt on account of the heavy rain £« „» tar. The demand was erS; though values were up to last week Passings were more frequent 13s 4d; aged ewes and lambs 17s to 20s, r Tat la total of 1464 were penned. Export buyers operated for the first time this season, and there was a very keen demand, works costing 10d per lb., butchers up f -iQifj Eixtra prime lambs realised £ s to 36s specif 39s, prime**! to 335, medium 27S 6d, to 29s 9d, hglrt And unfinished 25s to 275. Fat Sheep.—A bigger yarding w~s offered than for some time. Exporters operated for lighter mutton on a bams Xsid to 6d for wether and 5d for ewe, butchers’ from 6d to 6id.*> •wether and to ojd for ew • were down on last week by Is 6d to 2s fid oar head. Extra prime wethers sold at 33s to 375, special 40s und id, prime 99s 9d to 32s 6d, medium 27s 3d to 3ys fid! light and unfinished 24s 9d to 275; extra prime ewes realised 34s Id prime 27s to 30s, medium 24s to 26s 6d, light and unfinished 21s to 23 s 9d. Fat Cattle.—The yarding totalled 338, all Canterbury grown. There was a -weaker dJemand and a drop of Is to Is 6d per 1001 b. was experienced. Choicest beef sold up to 30s, good -7s to 295, heavy 25s to 275, medium -2 6d to 24s 6d, inferior 19s to 225. Cow beef averaged 15s to 17s 6d per 1001 b : - Extra prime steers were quitted! at * £l2 15s to £ls, prime £lO to £l2 ■'/medium £7 5s to £9 15s, hgk unfinished £5 15s to £7 2s 6d. Extra heifers sold at £lO 10s, P m ™P £6’ 10s to £8 10s, ordinary £4 15s to i £6 -7s 6dj prime cows made £5 15s to, a .£8 2s 6d“ and ordinary £4 to £5 lUs.j nr;! Vealers.—The yarding met a weaker : deihafid. " Good runners brought £3 - y l7s, ordinairv vealers, £2 15s to ho /s u7s 6a, small 1 calves Ts'-tipwaMs/ * i K store Cattle.—A ' '-entry met an improved inquiry, three and ; 4-year*-old steers solcLat £5 4s 16S ! / 2. to 24 years £2 15s to hi Os, r:^&rlnigs 27s \6d <to 35s 3 18 riioftths •2-vear-old. heifers] good sorts brought £3 to £3 10s,' snxal'3ss to 42s'6d. * Dairy Cattle.—There was modtetate competition for good sorts only Extra good "3rd and 4th calvets, springing, Sdat £9 ss, good £4 to £7 : extra good springing heifers l"s • Fat Pigs—There was an improved inqdiry for porkers, hut baconers were -unaltered. Light porkers sold 1 at 35s to 425, heavy 45s to 50s; average price per lb. 64d. Light baconers 52s to 58s, heavy '6os to 89s, average lb heavy' 4d to 4|d, light 4d to 4|d. Choppers realised ,30s to 62s 6d, ordinary weaners ,14s to 18s, good 245, slips 20s to 255. ■ i Storeo Pigs fairly good demand was shown. Ordinary wearers brought 14s to 18s, good 245, slips 20s to 2os, medium Stores' 28s to 335. .'

BURNSIDE MARKET. > DUNEDIN, Dec. 13. With the exception of fat cattle there were only moderate entries m tlie various departments at the Burnside sale to-day. , ’ . Fat Sheep—A medium yarding numbering 2216 head. With the exception of about 100 head the whole of the entry was shorn. A large proportion of the yarding comprised good quality wethers and ewes. Prices -for all classes of sheep showed a rise of from Is to 2s per head. The entry was larger'than that of last week, and the quality was good. - The opening prices were on a par with • late fates, but firmed as the sale progressed. The market was very buoyant. The prices now being obtained for sheep at Burnside 1 are rapidly approaching the extreme rates paid : during the war period. This, doubtless is dixe in large s measure to the high prices ruling for wool. Handy weight wether's brought up ftPßd to 6id per lb, heavy s£d to 6d; prime heavy ewes 5d to s|dJ; light and- aged' 4|d to 1 sd. Extra prime heavy-weight shorn wethers realised 40s-to 455, prime 34s to’3Bs 9d, medium 29s to 32s 6d ; Prime shorn ewes Fndm 32s 3d to 36s 9d, medium 25s 6d to S! 3ls; extra prime heavy-weight woolly wethers 50s to 53s 3d, prime 38s 3d to;47s 6c!, medium 32s to 365; prime woolly ewes 40s 3d to-50s, 32s t0 ;, 38s 6d, light and unfinished sorts 27s 6d to 30s.

Fat. Cattle—A large yarding, numbering 305 head. The entry included a number of pens of excellent quality -cattle suitable for Christmas trade. Competition was keen for all prime •quality beef and the market . consequently was firm. Prices generally were, '‘however, 10s per head below last week’s rates. Best bullocks made up'to £ls, prime £lO 10s to £l2, medium £8 to £9, light from £6, extra prime heifers to £9 v , prime £6 to £B, medium £4 10s to £6. Handy weight prime bullocks sold at up to 27s 6d per 1001 b, heavy-weights to 255, medium quality 23s to 25s ; prime heifers to 22s 6d, light to 20s, cows 17s to 18s 6dl. Fat .Lambs—l9s were penned. The entry was larger, and many were of excellent quality. Prices obtained were on a par with last week’s rates. Prime lamb was worth 9d to lOd 1 per lb, medium quality B’-d to 9d. Extra prime lambs made from 31s 9di to 33s 3d, prime 26s 3d to 30s, lighter sorts up to 23s 9d. Store Cattle—A small yarding was offered. The quality was not up to the usual standard. Ono or two pens of half-fat eows sold from £2 to £4 perl head. Young and backward! cattle were hon'd to quit. About 30 head of dairy cattle were offered, and" a satisfactory sale resulted. Best cows realised from £5 to £9 10s per head. Pigs—A medium yarding; all classes being represented. Competition was fairly brisk, especially for baconers. Best baconers realised from 6d to 6|d per lb, and best porkers from to 7d.

LONDON WHEAT REPORT. LONDON, December 12. & Wheat cargoes are very quiet and quotations are irregular. Six leus of Australian wheat expected in January sold at 52s per quarter. ;

Parcels after falling sixpence closed to 3d per quarter above jester-- „ day’s level. foreign exchanges. SUBSTANTIAL ADVANCE IN DOLLAR EXCHANGE. v LONDON, December 12. . The exchange rate on New York is i 4 dollars 62 cents. The demand for sterling rose sensationally to-day, reaching four dollars 631 cents, a gain of 4 5-8 cents over yesterday. Experts ascribe the increase to heavy buying on exchange in tins market for British industries. The appreciation is important to American importers of British goods since the American Tariff provides that an allowance must be made for depreciated foreign exchange in .the valuation of imported I goods only when the depreciation j 1 amounts to at least 5 per cent. Ster- ‘ ling therefore is now at par insofar | > as imports are concerned. 5 (The pre-war parity of the dollar * expressed in sterling was 4.86. A 5 l per cent reduction would make the * quotation 4.61 7-10.) LONDON WOOL SALES.

LONDON, December 12. At the wool sales the principal offerings were i Australian comebacks and fine crossbreds. Competition was keen for all sorts with a tendency in sellers’ favour. The Remuera (N.Z.) clip made an average price of 20d. COTTON. THE AMERICAN CROP. WASHINGTON, December 12. The 1922 United States cotton crop according to the Government report is five hundred pound bales, the smallest for 20 years, but based on current prices the fourth most valuable ever grown, the value, not including by-products, totalling 1,134,608,000 dollars. Roll weevil and heavy droughts .during August alone reduced the crop by 1,485,000 bales. The complete loss from these two sources is not yet estimated. (Since 1 1904 'the crop has averaged about 11,000,000 bales. In 1902 it wap 9,851,129 bales. The record crop was in 1914, 16,134,930 bales.)