SHAREMARKET INDICES

Press, Volume XCVI, Issue 28457, 11 December 1957, Page 19

SHAREMARKET INDICES

U.K.’S MEAT IMPORTS

Commonwealth Share Down Last Year

(N.Z. Press Association—Copyright) LONDON? Dec. 10.

Heavier United Kingdom imports of beef and veal from Argentina during 1956 cut the Commonwealth’s share of the total British import to two-fifths compared with one-half in 1955, according to a meat review published by the Commonwealth Economic Committee today. The review said that although an increase in supplies from New Zealand more than offset a decline in those from Australia, the 25 per cent, increase in United Kingdom imports during 1956 was mainly caused by heavier arrivals from Argentina. The Commonwealth’s share- of the total this year had risen appreciably above the 1956 level, with a marked rise in imports from Australia, the committee said. N.Z. Supplies Rise Sharp falls in imports from Australia and Argentina led to a decline of 3 per cent, in United Kingdom mutton and lamb imports during 1956, but as supplies from New Zealand rose appreciably, the Commonwealth continued to account for more than fourfifths of the total. Tables published in the review showed that Australia's annual imports to the United Kingdom of chilled carcase beef and veal had dropped to 4900 tons last year compared with 26,400 tons in 1938. New Zealand’s imports showed an increase on pre-war figures—from 18,000 tons in 1938 to 23,700 tons last year. New Zealand almost doubled her pre-war imports of frozen beef and veal to Britain, with 50,100 tons last year compared with 27,200 tons in 1938.

Australia dropped from 110,400 tons in 1955 to 95,000 tons last year, but this figure was still appreciably above the 1938 quota of 82,700 tons.

AUSTRALIAN WOOL SALES

SYDNEY, December 10. Japan and the Continent led competition at the Sydney wool sales today, with limited support from Britain. Values showed an easing trend compared with yesterday’s sale, and there was a pronounced irregularity for shorter types. Of the 16,811 bales offered, 16,123 were cleared. Skirtings were mostly firm but crossbreds and comebacks eased. Prices included: good average 60’s, 68Jd per lb; good 60/64’s, 75|d. Melbourne Prices Ease Values continued to ease at the Melbourne wool sales today with a clearance of 95 per cent, of the 16.300-bale offering. There was a representative selection from super-style merinos to a wide range of comebacks and crossbreds. The day’s selling showed an overall 2J per cent, price drop on yesterday’s reduced levels. There was reasonable competition, mainly from Japan and the Continent, but buyers were selective and better-style wools showed the greatest fall.

Prices included: good to super 60’s, 82d per lb; good to super 56’s, 76d: good to super 50’s, 70d; good 60/64’s, 83d.

STEADY BUTTER SALES IN U.K.

(New Zealand Press Association) WELLINGTON, December 10. Ex store sales of New Zealand butter in the United Kingdom were maintained at a steady rate last week, reports the Dairy Products Marketing Commission. Prices of most origins were unchanged, but some of the cheaper Continental butters which have been selling at 5s to 7s per cwt discount on New Zealand made a slight advance. When trading opened for the week yesterday New Zealand butter was at 260 s per cwt ex store, the price at which it has remained for just over a fortnight. Ex store cheese prices were also unchanged yesterday. New Zealand's finest white was at 131 s per cwt., the price which has ruled since the end of October. United Kingdom cheddar was around 138 s per cwt. and Australian first grade about 1245.

Sharemarket Indices are:— New York —Dow Jones. Shares Rail. Indust. sold. Jan. 31 148.79 479.12 1,920.000 Feb 27 141.04 466 26 1,620.000 Mar 29 144.05 474.81 1.650.000 April 30 145.84 494.36 2.200.000 May 29 145.64 502.18 2.270.000 June 28 146.46 503.29 1,770.000 July 31 149.79 508.52 1.830.000 Sept 30 123.70 456.30 1,520.000 Oct. 31 110.94 441.04 2.170.000 Nov. 29 103.97 449.87 2.740.000 Dec. 2 102.23 446.91 2.030.000 Dec. 3 101.65 446.55 2.060.000 Dec. 4 101.23 448.87 2.220.000 Dec. 5 100.71 449.55 2.020.000 Dec. 6 99.20 447.20 2,350.000 Dec. 9 97.21 443.76 2.230.000 London.—Financial Times: Indusord. (1935 equals 100); Govt 1926 equals 100: gold, 1955 quals 100 Indust. ord. Govt Gold Jan. 31 . 187.4 89.41 74.4 Feb. 28 . 189.7 88.88 73.0 March 29 . 189.8 87.18 67.1 April 30 . 200.0 86.85 66.9 May 31 . 203.2 83.75 66.5 June 28 . 204.8 82.91 70.4 July 31 . 201.1 82.64 70.0 Aug 30 . 198.8 81.06 76 5 Sept 30 . 187.1 78.25 73.4 Oct 31 . 162.5 78.45 71.6 Nov. 29 . 169.5 78.06 73.3 Dec. 2 . 169.4 78.24 73.4 Dec. 3 . 168.8 78.29 73.0 Dec. 4 . 167.9 78.29 72.7 Dec. 5 . 167.4 78.36 73.4 Dec. 6 . 168.3 78.31 73.3 Sydney.—Morning Herald (1934 equals 100) SilverBanks.Retail Indus I .pari Jan.31 .. 190 36 248.95 191.51 631.40 Feb.28 .. 186 51 253.77 193.7 645.43 Mar 28 .. 184.16 244.77 191.20 619-37 Apl.30 .. 184.10 255.90 189.96 643.00 May 30 .. 186 44 232.22 192.75 592.40 Jne.28 .. 196 77 234.77 199.10 578.37 Jul. 31’ .. 207 57 235.40 206.44 620.55 Aug. 29 .. 208.20 241.01 211.80 582.38 Sep 30 .. 208.45 242.54 206.80 562.26 Oct. 31 .. 190 80 248.04 203.47 528.20 Nov. 29 .. 191.89 250.93 206.40 501.12 Dec. 2 ..191 92 250.91 206.23 500.01 Dec. 3 ..187 61 251.52 205.54 500.12 Dec. 4 ..187 63 245.93 205.60 499.80 Dec. 5 ..187 59 243.20 205.86 — Dec. 6 ..187 14 241.91 206.83 — Dec. 9 ..187 06 242.55 206.97 473.70