MARKETS REVIEWED

Dominion, Volume 33, Issue 77, 23 December 1939, Page 8

MARKETS REVIEWED

Overseas - Comparisons NEW ZEALAND FARING REASONABLY WELL In presenting this month's market review the opportunity is taken to extend the season’s greetings to readers. With this 'issue, publication of the feature ceases for the holiday season, to be resumed on Saturday, January 6, 19-10. The notes upon overseas conditions show that New Zealand is faring reasonably well, economically, under wartime conditions.

Beef. To date little beef has been nought by exporters and the real drafting season will not open for another two or three weeks.

So far there has been no ofiicial schedule for beef, as for lambs. The uncertain position of hides has been a complication in assessing fat cattle values. However, a certain amount of bee* has been drafted for export in Wellington province, at these schedule rates: 32/6 1001 b.; prime ox, 145/2101b. per quarter' (equals 600-S4olb. cattle). 27/6 _1 001 b.; for overs, unders and seconds. 25/6 100 lb.; for “first” cows. And for boneless beef: 22/- for bulls, 20/- for cows and 23/- for ox. All “delivered nearest port works” basis. The lamb schedule remains unchanged since that published last month and the mutton has been amended, just to the ijd.lb. rise announced about December- 1. That meant 7d. to Bd. increase a sheep.

Dairy Produce. For purposes of a market review there is little to be commented upon in dairying. There is some news from Argentine, under a separate heading. That brings to mind a sale of New Zealand casien at £55 a ton, reported on November 10. This was above Argentine value of a fortnight to three weeks earlier; a tribute, presumably, to New Zealand quality. In Australia, the wonderful season promises a record export of dairy produce. Dairy farmers there are prospering and improving their properties extensively and we must expect more competition from the Commonwealth, when peace returns. It is a grave situation that our dairy production should be shrinking these recent years. Australian producers have, however, one concern, voiced on December 6. Dealing with margarine for shipment overseas, it was'resolved 'by the Victorian Council of Dairy Itrodueers. “That in the opinion of this council, the Federal Government has jnade an error seriously injurious to the dairying industry in lifting the ban formerly imposed on the export of margarine resembling butter in colour, and that representations be made to the Federal Government on this matter.” Hides and Skins.

A month ago it was announced that sheep skins would be appraised under mmTnnndeer 'by the New Zealand Marketing Department. The results of the first appraisals, based on September 1 prices, are reported to be ibarely up to last season's average. Unfortunately the 'basic level was assessed on last July-August market, when hides, skins and tallow were selling poorly. As at September 1 auction realizations grossed vendors: — Ox hides, £2—for good heavy and 30/for average; at around 7d. to Cow hides, ex-dairy, average 35/401b., at 4Jd.. 14/-; heavier to 3jd., say 441 b., giving 19/-. Calf-skins, 41b. average at lOJd.lb., 3/3 to 3/6. (These run from 3$ to ojlb.)

Sheepskins, then in full wool, going 101 b. average: butchers making 9d.1b., 7/6, and dead skins 74d., 6/3. Wether skins were worth 7/6 to 8/-.

Calfskins have since enjoyed a free market and have moved up sharply by about 30 per cent. A 2d.lb. rise expected was far exceeded and certain lines rose to as high as 16d., with 12jd. to 13d.1b. general. This should have substantially aided bobby-calf pool payouts. Inaugurating control for hides and pelts has been a lengthy business, not yet fully completed. Even though full control has been applied to sheepskins there is still a prospect of price changes. As for hides, the question is similar, in that these may go upward, for exported lines, but no fall is to be looked for. For the present, we can only say that hides and skins are worth September 1 values, with a modest prospect of some appreciation in average returns.