PRODUCE & MARKET REPORTS FROM DAY TO DAY

Evening Post, Volume CXXX, Issue 99, 23 October 1940, Page 12

PRODUCE & MARKET REPORTS FROM DAY TO DAY

A GOOD SEASON

BUSINESS ACTIVITY

FAVOURABLE FIGURES

"Evening Post," October 23,

The Government Statistician, quoting a report by the Livestock Division of the Department of Agriculture, states as to the month of August that 'from all districts .very favourable reports have been received concerning the very mild weather conditions experienced during the month. The past winter appears to have been the mildest experienced for many years, and all classes of stock have come through in very good condition. In the back country, owing to the absence of heavy snows, the death-rate should be the lowest for many years. Good pasture growth has been reported and the feed position appears to be very satisfactory. Lambing has been carried out under excellent conditions, and good percentages are expected." Later reports from North Island dairying districts indicate a splendid season so far as to feed for dairy cattle and as to the kindly weather so far experienced throughout the winter. Higher milk production is generally anticipated. Meat and dairy produce exports for eight months in review show the following increases in quantities over the January-August period, 1939: —Butter, 1.7 per cent.; cheese, 18.2 per cent.; beef, 10.3 per cent.; lamb, 3.9 per cent; mutton, 73.7 per cent.; pork, 4.2 per cent.; sausage casings, 20.1 per cent.; and tallow, 28.8 per cent. But quantities of apples, wool, hides, calfskins, and sheepskins are less than for the first eight months of 1939. But excepting apples and hides and calfskins, all these exports show increases in value, pork being up by 99.1 per cent, over 1939, sheepskins in wool up 44.9 per cent., cheese 40.2 per cent., wool 28.4 per cent., tallow 75.2 per cent. , Reviewing the banking position as at the end of August, the Government Statistician remarks that the average weekly value of bank debits to individual customers' accounts during the month was £18,037,735, an increase of £1,711,871 as compared with August,! 1939. "In recent months bank debits have been running at levels considerably in advance of those of recent years; .in fact, each month from and i including June onwards has estab-1 lished a record for its own particular month. The aggregate value of bank debits to individual customers' accounts in the expired eight months of 1940 was £684,301,392, as compared with £657,699,852 in a similar period of 1939 (an increase of 4.0 per cent.). There was little movement in the amount on deposit with the trading banks during August, a slight increase being shown for both deposits on current account and fixed deposits. The weekly average for the former was £45,582,280, as compared with £34,733,566 in August, 1939. Fixed deposits averaged £32,454,576, comparable figures August, 1939, being £31,163,133. The ratio of free to fixed deposits in August was 140.45 per cent., as compared with 111.46 per cent, twelve months. earlier." i