SMITHFIELD MARKET

Press, Volume LXXIV, Issue 22593, 24 December 1938, Page 14

SMITHFIELD MARKET

DEMAND FOR LAMB IS POOR NEW ZEALAND PORK AND BACON FIRM CPBKBS ASSOCIATION TtLIOHU.) WELLINGTON, December 23. The New Zealand Meat Producers? Board, advising on the Smithfield Market, states that owing to extremely cold weather the demand is for heavier meats with lamb in poor request. Owing to heavy arrivals of Australian lamb, prices for Australian are weaker. In the mutton market, prices are unchanged for wethers and ewes, but trade is slow. Frozen beef is meeting with a good demand, while chilled beef is steady with good Christmas trade. New Zealand porker pigs are firm with consumption good and there is a better demand for New- Zealand baconer pigs on improved bacon prices. Trade continues very slow for boneless bobby veal.

GOLD AND SILVER LONDON, December 22. Gold is quoted at £7 9s a fine ounce. Silver is quoted at 20 l-16d an ounce spot, and 19 7-16 d forward. tober 31, a decrease of £129,096. The total of advances and discounts in New Zealand on November 28 thus reached the abnormally, high level of £58,907,633, compared with £53,729,651, on October 31, a net increase of £177,982. The excess of demand and time liabilities over aggregate advances and discounts on November 28 was thus reduced to the narrow margin of £3,954,110, as compared with £8,089,337 on September 26. The relative positions of advances and deposits at different periods is shown in the following table;—

The ratio of aggregate advances and discounts to total demand and time liabilities in New Zealand on November 28 was 93.709 per cent., compared with 92,923 per cent, on October 31, and 87.432 per cent, on September 26. The latest figure is the highest ifiT many years. The lowest point touched was 55.95 pSr cent, in August, 1934. The aggregate unexercised overdraft authorities on November 28 amounted to £20,423,115, as compared with £22,427,578 on October '3l. a decrease of £2,004,463. The total of advances and discounts and unsxercised overdraft authorities on November 28 was £79,330,748. as against £81,157.229 on October 31, a decrease of £1,826,481. The active note circulation on November 28 amounted to £10.530.397, compared with £10,789,286 on October 31, a decrease of £228,889.

Quotations are;— Dec. Dec. Dec. 8. 15. 22. d. Per lb <L d. New Zealand Sheep— Crossbred wethers and‘or maiden ewes: 481b and under 4 k 4? 4f 49-56 b 4 k 44 44 57-641b 4* 44 44 65-721b 4* 44 44 Ewes: 481b and under 3 3 3 49-561b 2J 23 23 57-641b 23 24 24 65-721b 23 23 2f N.Z. Lambs—Canterbury: 361b and under 37-421b — — — 43-50Ib — — — Second quality: Aver, about 311b . .. Other South Island: 361b and under _ 37-421b — — 43-501b • — ' North Island Downs: 361b and under _ _ 37-421b — — : — 43-50ib — — — Aver, about 301b — — — North Island: First quality: 361b and under 74 37-421b — . Second quality; Aver, about 311b . _ ■ Australian Lambs — Victorian (first quality): 29-361b 71 74 % 37-421b 74 7 Argentine Lambs— First quality (new season's): 361ta and under 7 6J 6 37-42Ib 6| 64 6i N.Z. Porker Pigs— First quality: 61-80lb 7i Vi 74 91-1001b 74 74 74 101-120Ib 63 64 64 N.Z oec i;Pigs— 121-1601b 6 6 63 Boneless Bobby Veal— (new season’s), ex store, in parcels 44 44 44 (Chilled beef prices ar e approximate average prices realised for the week.) N.Z. Chilled Beef— Ox hinds. 143-2101b 55 5| Ox fores. 145-2101b 34 3J Australian Chilled Beef Ox hinds, 145-2101b 54 5| 33 Ox crops weights corresponding 34 3f 3| Union of South Africa: Ox hinds, 145-2101b 53 Ox fores. 145-2101b 33 South Rhodesian Chilled Beef— Ox hinds, 145-2101b 54 53 53 Ox fores. 145-2101b 33 34 3« Argentine Chilled BeefOx hinds, 145-2101b 64 63 6i Ox fores, 145-210Ib 4 4 44 Uruguayan Chilled Beef— Ox hinds, 145-2101b 5| 64 64 Ox fores. 145-2101b 3f 35 4 N.Z. Frozen Beef— (second quality)— Ox hinds 44 44 44 Ox fores 34 34 34 Australian Frozen Beef(second quality)— Ox hinds 44 44 44 Ox crops 34 34 34

Advances Excess of Deposits. and discts deposits. 1936. £ £ £ Jan. 27 65,861,522 45,649,334 20,212.183 Mar. 30 68,476,414 44.918.852 23.557,552 June 29 66,872,444 45.077,019 21,795.425 Sep. 28 63,420,499 45,999,813 17,420.656 Dec. 23 64,204,115 48.281,982 15,922,133 1937. Jan. 25 67,969,981 47,416,649 20,553,332 Mar. 29 68,872,887 46.954,095 21,918.792 May 31 69,172,919 48,033,164 21.139.755 June 28 69,000,502 47.710,899 21,289.603 Sep. 27 65,941,319 50,695.729 15.245.530 Dec. 27 65,666,898 54,002,006 11,654,832 1938. Jan, 31 67,817,917 53,313,050 14,504.837 Mar. 23 68,230,883 55,837,453 12.393,430 June 27 66,170,710 54,885,803 11.284,907 Sep. 26 64,365,036 56,275,749 8,089,337 Oct. 31 63,201.931 58,729,651 4.472.280 Nov. 28 62,861,743 58,907,633 3,954,110