COMMERCIAL

Hawera Star, Volume L, 16 January 1931, Page 10

COMMERCIAL

ARGENTINE WOOL. EXPERIMENTAL AUCTION. SPIRITLESS BIDDING. (United Piess Association—By Electric Telegraph Copyright). BUENOS AIRES, Jan. 14. The first experimental wool auction to-day attracted a large number of, municipal! and national authorities as well as wool buyers, but the bidding was not animated, prices being a ismall fraction of a penny above the upset price. One lot was wthdrawn because there were no bids. The sales were confined to southern territories. The wools totalled less than 150,000 lb. Only 11 sales were recorded, consisting of six lots of the better grade and five lots of I 'scraps.” The lowest price was. approximately 4d per lb and 1 the highest price sd. The prices were not above those recorded for private sales in the last few days at the central produce market. RATES OF EXCHANGE. NEW ZEALAND AND LONDON. The exchange rates between New Zealand and London have been fixed by the Associated Banks as follow: Buying: D.D., premium £6; 30 days £5 10s: 60 days £5; 90 days £4 10s. Selling: T.T. £7 10s; D.D.. £6 17s fid: 30 days £6 10s; 60 days, £6 2s fid• 90 days £5 15s.

STOCK IN OTAGO. BURNSIDE SALES. DUNEDIN, Jan. 14. Both fat sheep and fat lambs were enenor at the Burnside stock sales today, but fat cattle managed to maintain last week’s price level. Store rattle were hard to sell and pigs met a very indifferent markt. About 190 head of fat cattle were varded. comprising generally fair quality sorts, the .bulk being medium, although there was the usual percentage of light and unfinished sorts. The sale began quietly with the demand encouraging values up to £lB 10s. Prime heavy sold to £l6* 10s, prime to £ls, ight and unfinished to £l2 10s, prime heavy cows to £l4 7s 6d, and light heifers and cows from £7 to £9. There was a medium yarding of store cattle, with a. few pens of wellgrown steers and some very fair young cattle. Young stock sold at 'late rates, lint other sorts were hard to quit. Fat sheep to the number of 1420 were penned, comprising a small proportion of heavy wethers, and a largo number of medium ewes and lighti wethers. The demand was fair _ for heavy wethers, and values remained!, i list about firm, but ewes were in poor demand from the outset, and a dragging sale resulted in a, decline of from 2s to 3s per head. Light wethers were I from Is to 2s down. Extra heavy prime I wethers made from 24s to 30s; prime 'from 19s to 235; medium, from 15s to IBs fid, and! light from 10s fid upwards. Extra heavy prime owes made to 18s ; prime, 9s to 12s ; medium and li-dit from 4s upwards. There was a large entry of fat lambs, possibly as a result of the impending opening of the freezing works, but the inquiry was poor. No- doubt purchases | for forward delivery will keep' the works j going for a while, so that buyers had no need to operate to any great extent. Values were easier by from 2s to 3s per head. Prime heavies made From 15s to 18s; prime, from 12s fid to Us fid. and medium to light 10s to 12s. A medium entry of fat pigs met with a slow sale and easier prices.