FARMING AND COMMERCIAL.

Manawatu Standard, Volume XLVII, Issue 29, 3 January 1927, Page 5

FARMING AND COMMERCIAL.

WOOLPACKS. SUBSTITUTE FOR JUTE. PROBLEM MAY~BE SOLVED* The Daily News understands that a fresh attempt to solve the woolpack problem-, which has been almost completed, will revolutionise the method of transporting Australian wool. A new material has been discovered suitable for packs, hut'the details are kept a close secret until they have been communicated to Australian growers. It is understood that the British Wool Federation recommends the payment of Id per lb above the buying price, in order to compensate for the cost of packing, which is estimated at the equivalent of _ £1,687,000, but manufacturers consider that they already lose £2,000,000 a year through the use of jute for wool packs. The London Wool Committee is sending to Australia 100 samples of a now ali-wool woolpack for trial shipments of wool. The committee hopes to send out subsequently specimens |of the “secret” pack, of which the details have not been disclosed pending negotiations for its use. The Daily Nows understands that the “secret” consists fundamentally in covered wire gauze. DANISH BUTTER INNOVATION. MARKED WITH A DATE STAMP. LONDON, Nov. 20. Some consternation has been shown by dealers in Danish butter owing to the fact that in future butter from Denmark will be marked with a date stamp. This will enable consumers to see whether the butter is fresh or has been kept in cold storage. The dating is the result of a proposal adopted by a majority of Danish butter manufacturers, and is expected to be of great value to the industry. Buyers do not like the idea, since it will help to eliminate speculation which occurs even with Danish butter. Even though the great merit of the commodity is its freshness, there is a tendency among buyers to put it into cold store when prices are too low. As this lowers the quality the Danish manufacturers are naturally desirous of preventing it from happening. Their principle is to place it on the market for immediate sale and take whatever the market price is. The suggestion has been made that the new system of marking with a date will further handicap the sale of New Zealand butter in the north of England. This is hardly likely. The j two butters are in entirely different, categories—the one fresh and the other subjected to cold storage. If the buyers in the north take to Now Zealand butter they do so with their eyes open and because the lower price is worth considering in spite of the fact that the butter is stored. What the Danish manufacturers are aiming at is to ensure that all their butter is sold really fresh, and not as fresh when it has really been stored. DAIRY PRODUCE. Dalgety and Company, Ltd., report having received the following cabletram from their London house under ate of the 30th inst.: —Butter market firm but little doing. We quote Danish 178 sto 182 s (178 sto 182 s), New Zealand Control Board minimum price for finest 1745, first grade 1725, Australian finest salted 168 s to 170 s (164 s to 170 s), unsalted 170 s to 172 s (168 s to 170 s). Cheese market quiet. We quoto Canadian white 90s to 98s (92s to 98s), coloured 90s to 98s (94s to 98s), New Zealand Control Board minimum price for finest white and coloured 945,, first grade white and coloured 935. WHEAT AND OTHER PRODUCE. LONDON, Dec. 30. Wheat—Cargos are in quiet demand and quotations are unchanged. Parcels are occasionally 3d to 6d per quarter higher. Lots by Moreton Bay 65s 7fd, ,by the Otira and Anchises 65s 6d. Liverpool futures: December, 11s ljd; March, 10s 63d; May, 10s 31d. Spot trade is slow and mostly nominal. Flour is quiet. Australian, ex-store, | 445. j Oats are steady. I Peas and beans are neglected. Eggs are dull at L6s to 17s.—A. and N.Z. cable. CHICAGO WHEAT QUOTATIONS. NEW YORK, Dec. 31. Chicago wheat: December, 1 dollar 55 cents per bushel; May, 1 dollar 38J cents; July, 1 dollar 30 cents. —A. and , N.Z. cable. LONDON HIDE SALES. LONDON, Jan. 1. At the hide sales there was a good demand. Meat works dry-salted Queensland, 351 bto 461 b, 9Jd; 301 bto 401 b, 9id; 261 b to 361 b, 9|d; '2olb to 301 b, 9id. New South Wales, none offering. Wet-salted, Queensland, 501 b to 601 b, 7id; 401 J) to 501 b, 7id. New South Wales ditto, 7£d and 7sd. Victorian Abatti ro s,dtito Victorian Abattoirs, ditto 7fd and 7jfd.--.-A. and N.Z. Cable. PRICES OF RAW MATERIALS. LONDON, Jan. 1. Cotton—Liverpool quotation for American middling upland cotton, February delivery, 6.79 d per lb. Rubber—Fine hard Para, 16id per lb; plantation first latex crepe, 19Jd; smoked ribbed sheet, 19jd. Jute—lndian, native first marks, January-February shipment, £3l' per ton. New Zealand hemp—December-Feb-ruary shipment, £3B 10s per ton. Copra—South Sea, December-Janu-ary shipment, £24 10s per ton. Linseed oil, £39 per ton, equal to 3s ljd per gallon. Turpentine, 59s per cwt., equal to 4s ssd per gallon.

FROZEN MEAT. Dalgety and Company. Ltd., report having received the following cablegram from their London house under date of the 30th inst.: —Frozen meat trade generally quiet. Lamb: New Zealand prime crossbred lamb, Canterbury heavy 7fd. light 10Jd, North Island heavy and light not quoted. Market weak. Limited demand. Mutton: New Zealand prime crossbred mutton, Canterbury heavy sid, light 6Jd, North Island heavy fid, light 6d. Any change in market is in favour of sellers. Fair demand. Beef: New Zealand prime ox hinds 4d, fores 3Jd. Market dull owing to lack of demand. Poor demand. Australian frozen meat: Good average quality crossbred lamb heavy 6£d, light 9d. Market weak, demand limited. Good average quality crossbred mutton light 43d, heavy not quoted. Maiket firm, better demand. Pork: Heavy stocks accumulating. Nominal spot quotations for New Zealand carcases average 80 to 100 lbs. 9§d } 100 to 120 lbs. BJd, baconers 7id.

TRADE AND FINANCE. FEELING OF QUIET CONFIDENCE. MORE ORDERS BEING RECEIVED. LONDON, Jan. 1. “We may look to the New Year with quiet confidence,” is a sentence in the annual review of one of the principal firms of wool brokers with reference to their particular trade, and the same sentiment is expressed bv people connected with almost all classes of business. Everywhere a feeling of cheery optimism is apparent, and there is a general disposition to forget the troubles and bad times of 1926. The resumption of work in the coal mines occurred too close to the Christmas holidays to permit of heavy industries to resume fully before the end of the year, but there is abundant evidence of an early improvement. The iron and steel trades and a number of shipyards have more orders than for some time past. Engineering trades, particularly motors and electrical manufactures, are alx> receiving a good number of orders, and the textile trades, boot and shoe, and pottery and chemical industries are all becoming increasingly active. The Stock Exchange wound up for 1926 in good form. Prices all round were remarkably firm, and there was an almost entire absence of any selling pressure. Certainly the volume of business was not great, but the firmness of gilt-edgedsj occasioned by the favourable reception accorded the conversion loan, spread to other departments, with the result that the tone all round was confident. Good orders are expected when the exchange reopens on Monday. BUTTER TRADE ACTIVE. The butter trade continues active, and with the improvement in industrial conditions throughout the country, the demand is expected to increase. The outlook from the sellers’ point of view is regarded as promising. Supplies from New Zealand and Australia this month are plentiful, but decreasing Australian shipments point to something like a shortage before tho season closes, and if the consumptive demand is maintained, as seems probable, it would not be surprising to see prices advance further. The Australian egg trade is concluding in a disappointing manner, and cargoes by the last two steamers, the Narkunda and Herminius, are unlikely to realise good prices. -The mild weather which has prevailed in the greater part of England has resulted in heavy supplies of new-laid eggs in all country markets, and in some places they have been as cheap as 19s per 120. Consequently it has been impossible to maintain prices of Australians, especially as their reputation has been somewhat smirched'by some parcels arriving in an unsatisfactory condition. Recent arrivals show improvement, but certain lots display faults apparently due to bad packing THE WOOL OUTLOOK. Discussing the wool outlook, the Schwartze Buchanan Company write: “Values of raw material to-day are moro in accordance with the value of the finished article than they have been for a considerable time, so that with wool on the present basis there should be no likelihood of any serious decline, and though possibly prices may be affected in the early part of the year by uncertainty of the franc position, there will be recovery later in the year. The fashion still tends towards fine goods, and even tho present vogue for stockingette costumes, made of Merino or fine crossbred wool, seems to have displaced the former vogue for coarse knitted goods. Thus the outlook for medium and coarse crossbreds is not clear. They look distinctly cheap. Certainly they cannot be very remunerative to the grower. Still, there is no sign of any improved demand for these styles, thouerh by their very cheaimess they may attract increased attention and create new outlets.”—A. and N.Z. cable. LOAN FOR NEW SOUTH WALES. NEW YORK, Dec. 31. _ It is understood that unofficial negotiations which have tentatively begun between the New South Wales Government and various New York banking houses concerning a loan have been terminated. It is intimated that the Government has sent a message inticating that it intends to float the contemplated loan issue in London.