FARMING AND COMMERCIAL

Manawatu Standard, Volume LII, Issue 242, 12 September 1932, Page 5

FARMING AND COMMERCIAL

MARKETS FIRM

NEW ZEALAND DAIRY PRODUCE.

BOARD’S WEEKLY REPORT.

Markets for both butter and cheese are firm with a good demand in each case, according to advice received by the New Zealand Dairy Produce Board from its London office on Saturday. New Zealand salted butter is quoted at UCfe to 113 s, which is an advance of one shilling on the price ruling a week previously. The current price equals approximately Ujd per lb. f.o.b. Unsalted is selling at 110 s to 112 s, as against 108 sto 112 s a week earlier. The retail price of New Zealand butter has been increased to Is 2d per lb. 'This is a penny less than the ruling retail value of Danish, the market for which is quiet. The Empire Marketing Board estimates the stocks of all butters in England to be 775,293 boxes, as against 920,620 boxes this time last year. Deliveries of New Zealand butter during the past week totalled 1464 tons, as against 1428 tons during the corresponding week of last year. The quantity in store is 3434 tons, as against 6318 tops twelve months ago. Australian butter deliveries last week totalled 1310 tons, as against 825 tons, and the quantity in store amounts to 1560 tons, as compared with 2050 tons. The board’s agents in Canada have reported that in New York butter is selling at 21 cents, and in Montreal at 21 3-4 cents.

At 8d per lb. the retail price of New Zealand cheese is unchanged. White is quoted at 63s to 645, as against 62s 6d to 63s a week ago. The ruling quotation is equivalent to 6sd per lb. f.o.b. Deliveries of New Zealand cheeso last week totalled 14,293 crates, as against 17,958 orates during the corresponding week of last year. The amount in store is 42,323 crates, as against 93,472. Canadian deliveries amounted to 19,808 boxes, as against 8327 boxes, and the quantity in store to 162,349 boxes, as against 201,483 boxes.

The Dairy Board’s London office reports the following prices ruling on Friday, those for the previous week and the corresponding day last year being given in parentheses:

BUTTER. New Zealand.—Salted, 110 s to 113 s (109 s to 112 s; 1931, 108 to 112 c); unsalted, 110 s to 112 s (108 s to 112 s; 1961, 108 s to 112 s); first whey, 102 s; second whey, 100 s. Australian. —Salted, 104 s to 106 s (101 s to 104 s); unsalted, 106 sto 108 s (104 sto 107 s). Argentine.—Unsalted, 88s to 925. Danish. —105 sto 106 s f.0.b.; spot, 122 s to 124 s (103 s f.0.b., spot 1245). . Esthonian. —Salted and unsalted, 90s to 92s (88s to 925). Latvian. —Salted and unsalted, 90s to 925. ex. 96s (88s to 925). Siberian. —86s to 92s (88s to 85s). Lithuanian. —Salted and unsalted, 90s to 98s (88s to 925). CHEESE. New Zealand. —White, 63s to 64s (62s 6d to 635; 1931, 58s to 60s); coloured, 57s to 60s (57s to 58s); 1931, 60s to 625). South African. —Coloured, 54s (54s to 565). Canadian. —White and coloured, 63s to 65s (62s to 635); c.i.f., 64s 6d (625). English Finest Farmers.—96s to \ 100 s (96s to 100 s). AGENTS’ REPORTS.

Mr Thomas Gray (Wellington) has received the following report from London, dated September 9:—Cheese;. Deliveries, Now Zealand and Australian, 14,571 crates; Canadian, 20,115 boxes Stock, New Zealand and Australian, 42,792 crates; Calnadian, 162,616 boxes. Price, white, 655; coloured, 60s. Butter: Price, first grade, 112 s; finest grade, 114 s. The New Zealand Producers’ Co-oper-ative Marketing Association's weekly cabled market report from London dated September 9 is as follows :—Butter : Market is firm, with more inquiry; New Zealand, 112 s to 113 s; unsalted, 110 s to 112 s; Danish, 122 s to 1245; Siberian, 86s to 90.

Cheese: Market is firm, with more inquiry. New Zealand, white, 63s to 655; coloured, 58s to 60s; Canadian, white and coloured, 63s to 655.

FROZEN MEAT.

LONDON, Sept. 10. Australian 6heep.—First quality crossbred and/or Merino wethers, 40-651 b, 2j|d; ditto, second quality, 30-551 b, 2|d. Argentine sheep.—First quality crossbred wethers, 65-721 b, 2§d. Argentine sheep.—First quality crossbred wethers, 65-721 b, 2§d. Australian lambs.—Victorian, first quality, 361 b and under, 4d; ditto, 37-421 b, 4d; other States, first quality, 361 h and under, 4d; ditto, 37-421 b, 4d; Victorian, seoond quality, 361 b and under, 4d; other States, second quality, 361 b and under, 4d; States, third quality, 4gd. .Argentine lambs. —First quality, 361 b and under, 44d. Patagonian lambs. —First quality, 361 b and under, 4|d; 37-421 b, none offering; ditto, second quality, average 361 b, 4£d. Australian pigs.—First quality, 60-1101 b, average 901 b, 54d; ditto, 111-12011), sd; others unchanged.

LAMB MARKET FIRMER.

BETTER PRICES GENERALLY. The market for lamb is reported by the New Zealand Meat Producers’ Board to be firmer, with better prices . generally, The demand continues good, with a hotter tone to the market. The wether mutton market is firm at slightly increased prices, but the ewe mutton market is steady and_ unchanged. There is a moderate domand for beef, with prices a shado lower. The market for Now Zealand porker pigs is firmer, a cessation of Irish supplies holping the position. Prices for haconor pigs are nominal. The boarej reports that it has been advisod by its London offico that the following aro the approximate average prices realised for the week ended Sept. 9, based on actual transactions of wholesale quantities of the docriptions of meat mentioned, and are for representative parcels of tho 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 in parentheses: New Zealand sheep.—Canterbury and North Island selected crossbred wethers and maiden ewes, 47-561 b, 3|d (3|d, 3j>d) ; 57-641 b, 3|d (3id, 3£d) ; 65-721 b, 3|d (3*d, 2|d); North Island, 48-561 b, 3gd (3id, 3Sd); 57-641 b, 3Jd (34d, 3d); 65-721 b, 31A (3d, 23d); ewes, 481 b and under, 2/d (2£d, 2id); 48-641 b, 2-id (2id, -2R1); 65-721 b, 2id (2d). , New Zealand lambs. —Canterbury: 36 and under, 54d (s£d, sgd); 37-421 b, 54d (sd, sd); 43-501 b, 4gd (4gd, 4|d) ; second quality, average 331 b, 4j)d (4fd, 4§cl) ; other South Island brands, 361 b and under, 5/(1 (sd, sd); 37-421 b, 5d (sd, sd); 43-50, 4*d (4£d, 4jd); including Downs, selected North Island brands, 361 b and under, sjjd (5R sid); 37-421 b, 5Ad (sd, sd) ; 43-50, 4|d (4|d, 4jjd) ; second quality, average 311 b, 43d (4|d, 4Jd) ; other North Island brands, first quality, 361 b and under, 4£d (43d, 43d) ; 37-421 b, 43d (43d, 4|d); second quality, average 311 b, 4|d (4£d, 44(1). Australian lambs.—Victorian, first quality : 361 b and under, 4d (4d, 4d) ; 37-421 b, 4d (4d, 4d). Argentine lamb. —First quality: 36 and under, 44d (4|d); 37-421 b, 4d (4d, 4d). New Zealand beef. —Ox fores, 24d (24d, 2(d); hinds, 3|d (3id, 34d); cow fores and cow hinds, not quoted. Argentine chilled beef. —Ox fores, 23d (23d, 2Jd) ; hinds, 6d (s|d, sgd). Australian frozen beef. —Ox crops, over 1001 b, 2gd (2|d 2|d); hinds, over 1601 b, 3|d (3id, 3id). Now Zealand prime porker pigs.—6o-100 lb, sid (sd, sd);. 101-1201 b, 5d (43d, 43d). Now Zealand baconer pigs.—l2l-180lb 5d (sd, sd). New Zealand frozen veal.—Not quoted. AGENTS’ REPORTS. Tho market is steady. Compared with last week’s quotations, best crossbred lamb, Ad per lb higher. Best wethers, 46-561 b, j)d per lb higher; 56-721 b, Ad per lb higher. New Zealand prime ox beef, Ad per lb lower. Others unchanged. This report was received on Saturday by Levin and Co., from their London agents, who quote Smithfield “delivered” prices as follow : —North Island Down lambs, none offering; best North Island crossbred lambs, 28-361 b, 5Ad per lb: 36-42, 5Ad per lb; North Island second quality lambs, average 30-31, 4jjd; best North Island ‘ wether sheep, under 48, 4d; 48-56, 3|cl; 56-64, 3j|d; 64-72, 3Ad; North Island ewes, under 48, 2^d; 48-56, 2|d; 56-64, 2Ad: 64-72, 2d; New Zealand prime ox beef, 160-220, 23d. The Bank of New Zealand’s products department has received tho following advice from its London office as at close of business last week: —The market for wether mutton is firm. The market for ewes is quot but firm; supplies aro sufficient to meet tiler demand. Tho market for lambs is steady and no material change is expected yet. Tho demand for beef is moderate, but prices aro a shado lower. Trade generally is affected by heavy supplies of Homo-killed meat. Wethers, light, 3Ad to 4d per lb; heavy, 23d to 3Ad; owes) 2d to 2id; lambs, 2’s, 43d to 5Ad; B’s, 4|d to sd; 4's, 4£d to 43d; seconds, 4Ad to 43d. Beef: Ox hinds, 3d to 3jd; fores, 13d to 2Ad; cow hinds, 2£d to 23d; fores, ljjd to l|d‘.

RAW MATERIALS.

LONDON, Sept. 10. Friday’s closing prices for the following raw materials were as follow, those for September 3 being given in parentheses:— Cotton. —Liverpool quotations, Amorican middling, spot, 6.38 d per lb (6.37 d); October delivery, 6.07 d per lb (6.45 d). Rubber: Para, s£d per lb (s|d); plantation, smoked ribbed sheet, 2£d per lb (same). Jute: Soptember-October shipment, £lB 13s 9d per ■ton (£l9). Copra: Septcmber-Octobcr shipment, South Sea, £l4 5s per ton (£l3 17s 6d); plantation Rabaul, £l4 7s 6d per ton (£l4). Hemp: August-Oetober shipment, £ls per ton (not quoted). Linseed oil: £lB 5s per ton (£l7 10s). Turpentine: 64s 9d per cwt. (62s 6d). Osm iridium: Prices unchanged.

FARMING NEWS.

RURAL RAKINGS.

Owing to a shortage, caused principally by the delayed arrival of the steamer Melbourne Maru, which is bringing a direct shipment from Japan, onions have advanced to a very high price on the Auckland market. Practically the only supplies available are a few Canadian onions and one or two very small lots from Puke, kohe. These are realising up to 35s a cwt., which, according to merchants, is the highest price in a long period of yeai'3. A striking example of what can bo done with what is classed as the “poor” gumlands of the North is provided on the road to Mangapai, near Blackburn. Here Mr Phil Colter and his family have broken in a fairly largo block between the road and the railway line. The pasture has taken a healthy growth and the fields look as attractive as any in the district.' On this piece of hitherto disregarded country Mr Carter has provided sufficient grazing for a fairly largo herd and he is now building a supplementary milking shed. The new phases in agricultural instruction —pig raising competitions and beekeeping—have received general praise and encouragement from members of tho Taranaki Education Board. The chairman said that it was a commendable extension of the valuable work that the Boys’ and Girls’ AgrioulturaJ Clubs have already done in calf and lamb rearing and root growing. A splendid feature was that specialists among the farming community willingly gave of their knowledge and expenses so that tho younger generation might have a clearer vision of the values of rural vocations. There is a keen demand at present all over the Hohianga and other northern districts for good dairy cows. Very few cows of any quality are being offered at auction and buyers are finding it difficult to got what they want. Several private sales have been made at prices ranging from £8 to £l2 per head.. Tire farmers there, as in other districts, are culling heavily this year, ando the question of replacements is a serious one (says an exchange). Last year the prices offered for weaner heifers did not pay for rearing, but there is every indication that tho demand this year will ho beyond the supply and a much-needed advance in price will result.

WELLINGTON STOCK EXCHANGE

LAST WEEK’S BUSINESS AND

PRICES.

In sympathy with the brighter tone in world markets as evidenced by tho sharp rises in base metals prices, the improvement in wool values and the firming tendency in other commodity prices, tho Dominion share market reacted strongly last week. A much heavier volume of businoss was recorded, trading extending to include many shares that had not been touched for many a long day. Share values in most cases showed a marked firmness, and many were traded at prices that showed considerable gains on those of recent weeks. Tho gilt-edged security sections of Jhe market were comparatively neglected, a small turn' over being done in 44 and 54 per cent. Government stocks and bonds. Tho 44 per cent., 1939, sold at £95 7s 6d down to £95, and the 1938 maturity mostly at tho latter price. Tho 54 per cent., .September, 1937, were done at £99, £99 17s 6d, £99 ICte, and £99 2s 6d. The 54 per cents., February, 1937, were sold at £99 and £99 2s 6d. There was a very largo turnover in banks, particularly in Commercial of Australia and New Zealanda. Commercials gained Is on the week, moving up on sales from 14s 6d to 15s 8d and closing at 15a 6d. New Zealand ordinaries were firm on sales at 48s up to 48s 74d, and dosing at 48s 4d. Union of Australasias registered a gain of 6s 6d from opening sales at £7 8s to £7 14s 6d on Friday. New South Wales showed marked firmness in trading at £27 10s and £2B. There was a sale of National of New Zealand at £4, and there was an unsatisfied demand on Saturday at £3 19s. E.S. and A. Banks were very firm, sales being made at £4 17s fed, £4 14s and £4 15s. Australasias were done at £9 9s and £9 Bs, and more were wanted on Saturday at the former price. National of Australasia, £lO paid, sold at £ll 9s 9d up to £ll 15s 6rl, and the £5 paid from £5 14s 9d to £5 17s 6d. Improved wool prices were reflected in the firmness of pastoral company shares. Goldsbrough, Morts advanced on sales from 25s 6d to 26s 2d, closing at 265. Dalgety’s hardened to sales at £8 to £8 2s 6d, with closing buyers at £8 2s. N.Z. Guarantee Corporations sold at 5s lid to 6s, mostly the latter price. Insurance shares were a firm market. South British were traded at 57s 6d, and Nationals at 14s 3d to 14s 9d. New Zealands sold at 42s 9d and 435, and more were wanted at the former price. Gear Meat were firm at 335, and there was a sale of Canterbury Frozen Meat, pref., at 86s. N.Z. Refrigorating showed weakness on sales at 11s 4d down to 10s 9d for the £1 paid and 4a 5d to 3s lid and 4s Id for the 10s paid. Brewery shares hardened appreciably. New Zalands were active, sellers at 27s 9d up to 30s, closing at 29s 9d and 29s 3d. Tooths were done at 295. The marked rise in metals prices caused heavy trading in Electrolytic Zincs and Mount Lyells. The latter advanced from 21s 4d to 22s 9d, casing later to 21s lid and 22s 3d. Electrolytic Zinc preferences sold at 25s 2d up to 27s 9d, later .sales being at 27s and 25s 9d. The ordinaries were done at 17s 7d to 17e 8d and down to 17s 4d. There was fair business in the miscellaneous section. Colonial Sugars were traded at £45 5s to 2s 6d higher, and closed at £45 2s 6d. British Tobaccos sold at 30s 3d to 31s and 30s 9d.. Wilson’s Cement showed a furthor hardening on sales at 32s xl to 345. Other sales were Henry Jones Co-op. at 31s and 30s 9d; By crofts, 31s; Union Soap. 245; Dunlop Rubber, 15s Id to 14s 9d; Morris Hedstrom, 15s 4d; Burns, Philp, 435; Beath and Company. Is paid, 2s to 2s 6d; and Howard Smith. 11s to 10s. Gold-mining shares were active, particularly Waihis, which sold at 16s 2d up to 17s 2d.

SATURDAY’S. QUOTATIONS. Buying and selling quotations at Saturday morning’s call on tho Wellington Stock Exchango were as follow: — Buyers. Sellers.

SALES IN OTHER CENTRES.

The following sales wore recorded on the stock exchanges of the Dominion on Saturday : Auckland. —Inscr. Stock, 4£ p. 0., 1939, £95 2s 6d; Gisborne Shcepfarmers’ 6£ p.c., 1941, £72; National Bank of New Zealand, £4; Guarantee Corporation, 6s; N.Z. Breweries, £1 9s 6d; N.Z. Refrigerating, 4s Id; Taranaki Oil (2), 2b; Waihi, 17s 3d; Blackwater, 17s 7£d; Golden Point, lOd; Golden Dawn, 5s Id. Christchurch. —Commercial Bank of Australia, 15s; Goldsbrough, Mort, 5s 3d; N.Z. Refrigerating, 10s paid (5), 4s; N.Z. Breweries, £1 9s Id; British Tobacco, cum. div., £1 10b 6d; Mount Lyell, £1 Is lid, (2) £1 Is lOd; Blackwater (3), 17s 6d, (2) 17s 9d; Golden Point, 9£d; King Solomon (3), Is lOd; Mahakipawa, 4Jd; Waihi (2), 17s 3d, (2) 17s 2d; Electrolytic Zinc, pref., cum. div., £1 5s 9d. Sales reported: Bank of Now Zealand, £2 8s 6d*. *Late sale Friday. Dunedin.—N.Z. Breweries, £1 9s 6d. Sale reported: Bank of New Zealand, £.9 8s sd; Kaiapoi Woollen, ord., 5s 3d; New Zealand Paper Mills, £1 Is; Now Zealand Breweries, £1 9s 9d; Inscr. Stock, 5£ p.c., Sept., 1937, £9O.

LONDON WOOL SALES

NEXT SERIES COMMENCE TO-MORROW.

HIGHER PRICES ANTICIPATED.

The Bank of New Zealand’s produce department has received tho following advice from its London office under date September 9:—Prospects for all kinds of wool next series aro favourable. It is generally expected that Merino and halfbred will be Id to 14d per lb higher, medium and coarse crossbred 3-4 d to Id per lb higher. Tho September scries of I/sndon wool sales open next Tuesday evening. The closing rates at the July wool sales in London were quoted by Dalgety and Coy., Ltd., as follow: Good to Low to

LONDON SHEEPSKIN SALES.

RANGE OF QUOTATIONS.

Dalgety nnd Coy., Ltd., have received the following report from their London offico dated September 9: —London sheepskin sales, wore held yesterday, when 6595 bales were offered and 6036 sold. The following is tho range of prices:—Merino, 3-4 to full woolled, 44d to 6 3-4 d; 4 to 4 woolled, 2Jd to 44d; short and shorn, lid to 2id; crossbred, 3-4 to full woolled, fine, 5d to 74d; 3-4 to full woolled, medium and coarse, 34d to 4 3-4 d; 4 to 4 woolled, fine, 34d to 4 3-4 d; 4to 4 woolled, medium and coarse, 3d to 4d; short and shorn, 2d to 34d; lambs, 44d to 6jd.

HIDES MARKET.

LONDON, Sept. 10. Hides have been selling well, but the advance in prices is checking the demand. Prices are: Mcatworks, dry-salted, Queensland, 35-451 b, 52d; 30-401b', s|d; 23-351 b, 54d; 20-301 b, s§d. New South Wales prices are nominal. Wet-salted, Queensland, 50-60 lb. 4d; 40-5016, 3|d; Now South Wales, .50601 b, 44d; 40 501 b. 4|d; Victorian abattoirs, 50-601 b, 44d; 40-501 b, 4^d.

HORSES IN DEMAND.

AT CAMBRIDGE FAIR.

CAMBRIDGE, Sept. 10. Not for ten years have prices for utility horse* l>een so high as those pertaining to the fair held at the local saleyards. There has been an extraordinary demand for good staunch draughts, both broken and unbroken. Anything of quality has fetched high prices, and the average price is at loast £7 10s to £lO better than last year; £3O to £4O were common prices for stauneh four and five-year-olds. The highest price on one day of the fair was £52 10s for the black stallion Silver King, sold by Mr E. K. Plaistod, of Whangarei, to Mr J. 11. Geddes, of Morrinsville. Some idea of tho demand, for horses is conveyed by the average price of £2l 2s 9d obtained by Mr W. Wilson, of Gisborne, for a lino of 50 unbroken three and four-year-draughts. Tho horses were as fine a lino of their class as seen in Cambridge for many years. Quality four, five and six-year-old broken horses brought from £2B to £3B; and a ferv extra good horses touched the £4O mark. Anything of quality brought from £25 to £3O, and less likely sorts ranged from £lB upwards.

N.Z. GOVT. LOANS— £ s. d. £ 6. d. 4j p.c. .Bonds, 1938 ... — 95 5 0 5£ p.c. ditto, 1933 99 2 0 — 51 p.c. ditto, Feb, 1937 — 99 10 0 4i p.c. Stk., 1938 ... — 95 2 6 5£ p.c. ditto, 1936 — 99 5 0 5£ p.c. ditto, Feb, 1937 99 7 6 5j p.c. ditto, Sep, 193/ — 99 7 6 DEBENTURES— Chch. City, 1944 98 0 0 — Well. Harbour Bd., 5i p.c., 1940 99 0 0 — Hauraki Plains, 5J p.c., 1959 — 96 10 0 Woll. Racing Club ... 80 0 0 90 0 0 BANKS— Australasia 9 9 0 — Commercial of Aust. — 0 15 6 Commercial of Sydney 14 lb 0 16 0 0 E.S. and A — 4 17 0 National of N.Z 3 19 0 — National of A’asia., £5 paid 5 12 6 5 17 6 New South Wales ... 27 10 0 23 5 0 New Zealand 2 8 3 2 8 6 Now Zealand, long term 1 9 0 — Union 7 12 6 — FINANCIAL — Dalgety and Co 8 2 0 — Goldsbrough, Mort ... 1 5 7 1 6 0 Guarantee, ord 0 5 11 0 6 2 Loan and Mercantile . ■ 55 0 0 Well. Trust and Loan 4 15 0 — GASChristchurch 1 4 6 — Wellington, pref 0 17 0 — INSURANCE— National 0 14 5 — New Zealand 2 2 9 — South British 2 17 3 2 18 7 MEAT PRESERVING— Gear 1 13 0 — Refrigerating, 10s 0 3 11 — Well. Meat Ex., pref. 0 14 6 — TRANSPORT— Huddart, Parker, pref 1 9 0 — Union Steam 1 0 4 — P. and 0. Stock 1 1 0 — WOOLLEN— Wellington, ord 5 0 0 — Ditto, pref 6 1 0 — COAL — Westport 0 11 9 — TIMBER— Kauri 0 11 0 — Leyland-O’Brien — 1 1 0 National — 0 6 0 Taringamutu — 0 4 9 BREWERIES— New Zealand 1 9 1 1 9 6 Tooth 1 8 9 — MISCELLANEAOUS— British Tobacco, ord. 1 10 4 1 11 0 Burns, Philp 2 2 9 2 4 3 Colonial Sugar 44 17 6 45 7 6 Dominion Investments 1 1 6 — Dunlop Rubber — 14 8 0 Electro. Zinc, ord. ... — 0 17 9 Ditto, pref 1 5 0 1 6 3 Henry Jones 1 10 0 1 11 0 Howard Smith, ord. 0 9 0 — National Electric — 0 10 0 Now Zealand Drug ... 2 18 6 .3 1 6 N.Z Paper Mills 1 0 9 — Sharland and ..Co., ord. and pref 0 16 0 — Wilson’s Cement 1 13 3 1 14 3 Woolworths 1 6 0 — Newton King, pref. 0 4 0 0 10 0 OILTarannki 0 1 11 — MINING— * Blackwater 0 16 0 — Consol. Goldfields 0 7 3 — Golden Dawn — 0 5 6 King Solomon 0 1 8 0 2 3 Mount, Lyell 1 1 6 1 1 11 Okarito 0 8 5 0 8 8 Rawang Tin 0 5 0 — 0 16 10 0 17 6 Big River, lk — 0 1 0 Ditto, lOd 0 0 11

Super. Medium. d. d. d. d. Halfbred, 56/56’s .. 10A to 12 Halfbred, 50/56’s .. 81 to 10 7 to 10 61 to 8 Fine crossbred, 48/ 50’s 61 to 81 5i to 64 Fine crossbred, 46/ 48’s 61 to 71 5 to 6 Crossbred, 44/46’s ... 5j to 7 Crossbred, 40/44’s ... 5i to 61 49 to 51 4 j to 51 Coarse crossbred, 36/40’s 51 to 61 4 to 5