FROZEN MEAT TRADE

Dominion, Volume 30, Issue 114, 8 February 1937, Page 12

FROZEN MEAT TRADE

Lamb Prices Improve

MUTTON MARKET STEADY

Lamb market: Prices showed further improvement, with demand satisfactory. All arrivals going into consumption. Mutton market: Wethers and ewes, market steady, with prices firm. Beef market: Frozen beef, market firm, with good demand. Chilled beef prices steady. New Zealand porker pigs: Market quiet and steady, with prices unchanged. New Zealand baconer pigs: Easier owing to lower prices of bacon. The . New Zealand Meat Producers’ Board advisee that the following are the approximate average prices realised for the week, based on actual transactions of wholesale quantities of the descriptions of meat mentioned and are for representative parcels of the goods offering during the week, being for business done on the basis of delivered to Smithfield market and/or ex London stores (prices for the two previous weeks are also shown) :—- New Zealand sheep: Crossbred wethers and/or maiden ewes, 481 b. and under, 54d. (5Jd.. 5 5-Bd.) ; 491 b. to 561 b., 5 l-Bd. (same); 571 b. to 641 b., 4}<l. (same); 651 b. to 721 b. 4-Jd. (same). Ewes, 481 b. and under,' 4pl. (4-jd., 4 1-Sd.) ; 491 b. to 561 b., 4d. (4d„ 3 7-84.); 571 b. to 641 b., 3 7-Bd. (3 7-Bd., 3Jd.); 651 b. to 721 b, 3J<l. (same).

New Zealand lambs: Canterbury and other South Island not quoted. North Island Downs, 361 b. and under, Bd. (7Jd 7 5-Bd.) ; 371 b. to 421 b„ Bd. (7 5-Bd., 7 3-Bd.) ; 431 b. to 501 b., 7id. (not quoted) ; second quality, average about 301 b., 7Jd. (74d.. 7 3-Bd.). North Island, first quality, 361 b, and under, 7id. (74d 7 ; 371 b, to 421 b., 7fd. (7 3-Bd., 7jd.) ; second quality, average about 311 b. a 7}d. (same). Australian lambs: Victorian, first quality, 291 b. to 361 b., 7d. (6 7-Bd., 63d ) • 371 b. to 421 b., 6 5-Bd. (6£d., 6 3-Bd.) Argentine lambs: First quality, 361 b and under, 6|d. (same) ; 371 b. to 421 b 61d. (6id„ 6 l-Bd.). New Zealand frozen beef: Ox hind-* 1451 b. to 2101 b., 4 l-Bd. (4 1-Sd., 4d.) • ox fores, 1451 b. to 2101 b., 3d. (3d., 2 7-Bd.). Australian frozen beef: Ox hinds, 1451b' to 2101 b., 4 1-Sd. (same); ox crops' weights corresponding, 3 1-Sd. (3 l-8d„

New Zealand chilled beef: Ox hinds 1451 b. to 2101 b., not quoted (5 5-Sd., 5 3-Bd.) ; ox fores, 1451 b. to 2101 b., not quoted (3id., 3 1-Sd.). Australian chilled beef: Ox hinds, 1451 b. to 2101 b., 5 3-Sd. (not quoted, 51(1.) ; ox crops, weights corresponding. 3 3-Bd. (not quoted, 3Jd.). Union of South Africa chilled beef: Ox hinds, 1451 b. to 2101 b., not . quoted (5 7-Bd., not quoted); ox fores, 1451 b. to 2101 b., not quoted (3 3-8(1., not quoted). Southern Rhodesian chilled beef: Ox .binds, 1451 b. to 2101 b„ sd. (ojcl., 5 1-Sd.) ■ ox fores, 1451 b. to 2101 b., 2 7-8(1. (3d„ 2 7-Bd.).

Argentine chilled beef: Ox hinds, 1451 b. to 2101 b., 6d. (6d., 5 7-Sd.) ; ox fores-, 1451 b. to 2101 b., 3Jd. (same); Uruguayan chilled beef: Ox hinds, 1451 b. to 2101 b., sid. (s|d„ 5 3-Sd.) ; ox fores, 1451 b. to 2101 b., 3}d. (same). New Zealand porker pigs: First.quality, 611 b. to 801 b., 7 l-Bd. (same): Sllb. to 1001 b., 7d. (same) : 1011 b. to* 1201 b., 64d. (6 3-Bd.. 6Jd.). New Zealand baconer pigs: 1211 b. to 1601 b., 6d. (6}d„ 6R1.). Market. Firm. Compared with last, week's quotations Down lamb, 281 b. to 361 b., is l-Bd. higher; 361 b. to 421 b., 3-Sd. per lb. higher. Crossbred lambs, 361 b. to 421 b., 1-8(1. per lb. higher. Wethers, 1-8(1. per lb. lower. Ewes, under 481 b., and 561 b. to 641 b., l-Bd. per lb. high,er. Beef: l-Bd. per lb. higher. The market is firm. The above cabled advice was received on Saturday by Levin and Co., Ltd., from their London agents, who quote current “delivered” prices as under: North Island Down lambs, 281 b. to 361 b., Bd. per lb.; 361 b. to 421 b., Sd. Best North Island, crossbred lambs, 281 b. to 361 b., 7sd.; 361 b. to 421 b., 72d. North Island second quality lambs, average 301 b. to 311 b., 7Jd. Best North Island wether sheep, under 481 b., 5Jd.; 481 b. to 561 b., 5 1-Sd.; 561 b. to 641 b., 43<1.; 641 b. to 721 b., 4Jd. North Island ewes, under 481 b., 4 3-Bd.; 481 b. to 561 b., 4d.; 561 b. to 641 b., 3 7-Bd.; 641 b. to 721 b., 3fd. New Zealand prime ox beef. 1601 b. to 2201 b., 3 5-Bd. The Bank of New Zealand, produce department, has received the following advice from its London office, as at close of business last week: —The market for wethers is quiet but firm. Smaller supplies of ewes have caused prices to harden. The market for lambs is firm. Demand and prices for chilled beef are steady. Trade generally is slow. Wethers, light. sd. to 5Jd. per lb.; heavy, 4d. to 4 5-Bd. Ewes, 3 5-Sd. to 4 3-Bd. Lambs, 2's, 7Jd. to 7 7-Sd.; S’s, 73d. to 8(1.; 4’s, 7d. to 7 l-Bd.: seconds. 7 3-8(1. to 7Jd. Chilled hinds, 5Jd. to si)d.; fores, 3Jd. to 3id.

RAW MATERIALS

Copra Still Falling

By Telegraph.—Press Assn.—Copyright.

(Received February 7, 6.30 pan.) London. February 6.

Friday’s eloping prices for the following raw materials were as follows, those for January 29 being shown in parentheses :—

Cotton: Liverpool quotation, good American middling, spot, 7.30 d. a lb. (7.34 d. ; March delivery. 7.04 d. a lb. (7.12 d. Rubber: Para. 14d. a lb. (same) ; plantation smoked ribbed sheet, 10Sd. a lb. (10id.). Jute : February-March shipment. Indian jute. Dundee quotation, £lB/18/14 (£IS 17/6). Copra : February-March shipment. South Sea to London or Rotterdam, £l9 a ton (£l9/15/-) 1 smoked, to Marseilles or Genoa. £l9 a ton (£l9/15/-) ; plantation. Rabaul to London or Rotterdam, £l9/15/- n ton (£2O/10/-). Linseed oil: £29/10/- a ton (£29/5/-). Turpentine: 41/3 a cwt. (42/9).

YOUNGHUSBAND, LTD.

Increase of Capital

Younghusband, Limited, wool and grain merchants, Melbourne, have advised the Stock Exchange Association that the company’s transfer books will close at noon on February 15 in connection with the proposed issue of new shares. The company has a paid capital of £250,000 in £1 shares. Net profit for the year ended March 31, 1936, was shown at £26,969, as against £12,334 for the previous year. Last year the company paid 8 per cent. Reserves as at March 31, 1936. were shown at £232,880.

Gold Mining Returns

The Worksop Extended Gold Dredging Co., Ltd., give the following as the return for the week ending February 4: —83 ounces from 11,000 yards for 127 hours. By Telegraph—Press Association. Greymouth, February 6. The Maori Gully return was 320 z. 16 dwt. for 135 hours. The Argo dredge made no return this week, nor will there be one next week as tlie dredge is under repair. Dunedin, February 7. The Waipapa eßach Company reports a wash-up of 15oz, 4dwt. for 133 hours.

The prices of nil grades of raw and refined sugars, including tablets, bulk and cartons, icing sugar, coffee crystals, golden syrup and treacle, have been advanced 10/a ton as from to-day, according to an announcement by the Colonial Sugar Company.

Permanent Investment Assocn

The directors of the Permanent Investment and Loan Association of Canterbury, in presenting the sixty-sixth annual balance-sheet aud accounts, report that the profit for the year, after taking into account all interest due and accrued as at December 31, 1936, amounted t0”£5905 14/4. From this sum they have deducted £985/19/6 for interest outstanding in respect of the past and previous years, which they consider may not be received. The available profit is therefore £4919 14/10 which, together with the balance brought forward from last year amounting to £9lB/14/7, leaves £5838/9/5 in the profit and loss account. An interim dividend of 2 per cent, was ■paid on July 31, aud a final dividend of 2 per cent., together with a bonus of J per cent, on January 30, making a total distribution for the year of 4i per cent., which absorbed the sum of £4500. A transfer of £5OO was made to the reserve fund, leaving £B3B/9/5 to be carried forward in the profit and loss account. The directors retiring by rotation are Messrs. G. Hall and J. W. K. Lawrence, both of whom seek re-election at the annual meeting on February 19. London Hides Market By Telegraph—Press Assn.—Copyright. (Received February 7, 6.30 p.m.) London, February 6. Hides, meatworks, dry-salted, Queensland: 35 to 451 b.. 74d.; 30 to 401 b., 74d.; 25 to 351 b.. 7 3-Bd.; 20 to 301 b., 7 3-Bd. New South Wales: 35 to 451 b., 7Jd.; 30 to 401 b.. 7 5-Sd.; 25 to 351 b., 7R1.; 20 to 301 b.. 7|d. Wet-salted. Queensland: 50 to 601 b., 54d.: 40 to 501 b., s}d. New South Wales: 50 to 601 b.. 5Jd.; 40 to 501 b., 5 5-Bd.. Victorian abattoir: 50 to 601 b., 51d.; 40 to 501 b., 5-}d.

N.Z. Pound Abroad

Based on figures quoted by the Bank of New South Wales, the New Zealand pound, compared with its original par value, is equivalent to approximately:— 16/1 in London. £l/0/1 in Australia. 16/1} In U.S.A. 16/1| in Canada. 13/7 In France. 9/6} in Germany. 16/1} in Italy. 11/8} in Java. • £l/8/1} in Japan.

AUCTION DIARY

TO-DAY. Johnsonville Ewe Fair, 12.30 p.m.—6000 Sheep. Akitio minimal Stock Sale, 12 noon, a/c various owners—s7oo Sheep (Southern Hawke’s Bay Stock Auctioneers). Site of Old Waitangi Bridge (on Main Road, between Napier and Hastings). 1 p.m., a/c T. Greig—4o,ooo Feet Bridge Timber (Dalgety and Co., Ltd., incorp. in England). Hunterville Sale, 12.30 p.m.—8510 Sheep. Woodville Sale, 12 noon—s9o Sheep and 389 Cattle (Abraham and Williams. Ltd.). 216 Lambton Quay, 1 p.m.—Ciro Art Shop Fittings and Stock (Johnston and Co.). TO-MORROW. Pahiatua Ewe Fair, 11.30 a.m. (Dalgety and Co., Ltd.). Moreton Road, Carterton, 1 p.m.—Clearing Sale on a/c Moore Bros. (Wright. Stephenson and Co.. Ltd.). 63 Willis Street, opp. McKenzies.—Antique Furniture. Old China, etc. (Johnston and Co.). Marton Sale. 1 p.m.—3400 Sheep (Abraham ..and Williams, Ltd.). Wanganui Annual Ram Fair, 10.30 a.m. Freeman R. Jackson and Co., Ltd.). Levin Sale, 11.30 a.m.—Mixed Stock. WEDNESDAY. District Lands and Survey Office, Wellington, 2.30 p.m.—Section 45. Nirtha Village Settlement (Commissioner of Crown Land). Johnsonville Fat Stock Sale, 1 p.m.—Mixed Stock. Masterton Ewe Fair, 11 a.m.—10,600 Breeding Ewes. Howen Street, Foxton, 12.30 p.m.—Clearing Sale, a/c 11. W, Osborne (N.Z. Loan anil Mercantile Agency). Wanganui Ewe Fair, 12 noon—l2,ooo Sheep (Freeman K. Jackson and Co.).

Hemp and Tow Gradings Gradings of hemp and tow last month compare with those for January, 1936. as follows :—

Of the hemp graded 1671 bales were dealt with at Wellington, 598 at Auckland, 67 at Picton. 67 at Blenheim, and 633 at Bluff. The classiugs were:— Good fair, 193 bales; hijrli fair, 966; low fail - , 570; coinuipn, 683; rejected, 608; condemned, 16,

Jan., Jan.. In19.36. 19.37. crease. Bales. Bales. Bales. Hemp ... .... 2669 3036 357 Tow .... .... 48S ’Decrease. 267 *221