TRADE OF EUROPE AND THE COMMONWEALTH

Press, Volume XCVIII, Issue 28984, 27 August 1959, Page 19

TRADE OF EUROPE AND THE COMMONWEALTH

“The Press” Special Service

LONDON, August 26.' Discussing the Commonwealth’s views on European trade, a special correspondent of the “New Commonwealth.” suggests that “only a really imaginative' effort stimulated by Britain to bring the Commonwealth together i with the outside eleven of the O.E.E.C. is likely to bring order' from chaos.” The correspondent says that' from the opening and closing communiques issued on the first formal of the Commonwealth consultative economic council held in London earlier this year, it would be assumed that nothing was done. A safer, conclusion was that nothing was' resolved save agreement—and even this might only be presumed; —that the Commonwealth finance ministers would continue the| council meeting when they meet at Washington in September for; World Bank and International; Monetary Fund discussions. The question posed at the London conference was whether Britain alone or the Commonwealth together could put up a new approach capable of meeting the fears alike of Europe and the Commonwealth. Primary Produce Markets “The heart of the matter is likely to be farm products. The main Commonwealth countries that have seen their preferences in Britain decline are those that export farm produce. As things stand they behold rising meat production inside Britain stimulated by’a heavy subsidy. “With the prospect then of Britain producing more rather than less of her own meat, they have a natural disinclination to barter' new preferences for British manufactures that would assist competition with growing secondary industries in their own countries. “On the contrary, as New Zealand showed last year and Australia has been showing lately, they tend to look for favoured markets outside the Commonwealth. If Britain were to cur-

'tail her own subsidies to farmers.| Commonwealth countries would' be quick to benefit. “The same is true if European: countries did likewise but they, 'subsidise in different ways.l; Europe protects by tariffs which} • raise the cost of living for in-r dustrial workers, while Britain}: [does it by subsidy, taking money: [from the taxpayer to pay the; ' farmer to keep his prices for the I; town-dweller down. ‘‘lt has been suggested in some,' quarters that when G.A.T.T.; meets' in the autumn some kindj of compromise should be sought! in this field to make possible an} (association of Britain plus the! Commonwealth with the European trading system."

; . I AUSTRALIAN WOOL\ SALES (N.Z. Press Association—Copyright); MELBOURNE, August 26.1 Wool prices yesterday generally advanced about 2} per cent, on Monday's sales in Melbourne and Brisbane. Selling was at three centres yesterday Melbourne, Brisbane and Perth. The Melbourne market, at 2A > per cent, higher than Monday, > was very animated and buoyant > with widespread competition in- > eluding the United Kingdom and I local mills. > The Brisbane wool selling t brokers reported that Monday's ■ opening higher wool prices were maintained yesterday with comf petition keen and well sustained. Perth prices were up 2{ per ' cent, on Monday’s rates for fleece > wools, but skirtings and oddments ' rose more. 1 /

TINWALD STOCK SALE There was a smaller yarding of fat sheep at the Tinwald sale, with the result that prices improved to the extent of 5s per head for both wethers and ewes. Fat hoggets were in strong demand and were also a shade dearer than last week. Range of prices:— Woolly two and four-tooth wethers: Prime 84s Id to 89s Id, medium 78s Id to 83s, light 70s to 775. Shorn two and four-tooth wethers: Prime 56s Id to 61s Id, medium 50s Id to 55s Id, light 43s Id to 49s Id. Woolly ewes: Prime 47s Id to 51s Id, medium 42s Id to 46s Id, light 43s Id to 49s Id. Shorn ewes: Prime 30s Id to 34s Id, medium 24s Id to 29s Id, light 18s Id to 23b Id.

Woolly hoggets: Prime 64s Id to 68s Id, medium 60s Id to 63s Id, light 54s Id to 59s Id. Shorn hoggets: Prime 52s Id to 57s Id, medium 47s Id to 51s id, light 40s Id to 46s Id. In the store sheep section, wether hoggets showed a rise of several shillings on last week, and the quality was very good. The best ot the wether hoggets made from 40s to 475, with medium sorts from 32s to 395. and culls down to 25s in the woo). Several pens of wether hoggets made from 24s to 275.

A little rise on recent markets was shown in a number of pens of good Romney and Romney cross ewe hoggets, the best of the Romneys making from 63s to 735. Medium sorts made from 51s to 60s. A very good pen of Corrledale ewe hoggets changed hands at 765. The two-tooth ewe entry was a small one, and a quotable line of hill bred, halfbred two-tooth ewes mated with Southdown rams made 61s.

The old ewe entry was not big. and prices remained the same as last week, the best making 435. Mediums were down to 30s. A pen of Central Otago Merino ewes mated with Romney rams made 3Rs. These were in good condition, and showed well in lamb. Another pen of ewes and lambs offered all counted were passed in at 27s fid. Stud Jersey Sale Cows sold from 32gns to 52gns and averaged 36gns, in-calf heifers averaged 26gns and yearling heifers realised from 15gns to 21gns when a complete dispersal sale of the Glamis Jersey stud was held recently on account of the estate G. A. Hammond. Takamatua, Banks Peninsula. The catalogue comprised 26 mature cows, six in-calf heifers and four yearling heifers. The sale, which attracted a large gathering of buyers, was conducted by the New Zealand Loan and Mercantile Agency Company, Ltd.