FARMING AND COMMERCIAL

Manawatu Standard, Volume LIV, Issue 288, 2 November 1934, Page 7

FARMING AND COMMERCIAL

BUTTER AND CHEESE. LONDON MARKETS FIRM

W. Wedclel and Co., Ltd., report, dated London, October 31:—Both markets active. Butter: Danish, 1235; New Zealand iinest, 69s to 725; Kangaroo finest, 69s to 71s. Cheese: New Zealand, white, 53s Cd to 545; coloured, 52s 6d to 545. Joseph Nathan and Coy., Ltd., have received from London the following cabled advice, dated October 31: New Zealand butter: Finest, 725; first, 70s to 71s. New Zealand cheese: White, 53s 6d; coloured, 535. Markets quiet but firm.

'The New Zealand Loan and Mercantile Agency Coy., Ltd., have received the following advice from their London house dated October 31: —Dairy produce (last week’s quotations in parentheses). Butter, New Zealand choicest salted, 71s to 72s per cwt (6Ss to 70s). Market firm. Cheese, white, 53s to 54s per cwt (51s) ; coloured, 53s to 54s per cwt (50s). Market quiet.

THE STOCK MARKETS

WESTFIELD SALE

Per Press Association. AUCKLAND, Oct. 31. There was a sharp drop in beef values at the Westfield sale to-day, prices receding by between Is and 2s per 1001 b. The yarding was larger than that of a week ago with the quality of the ox beef of a high standard. The cow beef offered was on the poor side, there being few good quality cattle. Competition was steady throughout the sale, with good prices sustained for well-finished offerings in both sections. Extra choice ox beef, made 27s per 1001 b, choice and prime 24s to 265, secondary and plain, 21s to 235; prime young cow and heifer beef, 22s to 265; other cow beef, 14s to 21s. Extra heavy prime steers made £lO 15s to £ll 10s ; heavy prime, £9 to £lO 12s 6d; lighter prime, £7 10s to £8 17s 6d; light prime, £6 10s to £7 7s 6d; small and unfinished, £5 5s to £6 7s 6d. Extra heavy prime young cows and heifers, £6 10s to £7 15s; heavy prime, £5 to £6 7s 6d; lighter prime, £3 10s to £4 17s 6d; other killable cows, £1 10s to £3 7s 6d. The yarding of calves was the largest for many months, with the offering considerably in excess of requirements. When the demand was filled there was a marked easing in values, the drop being 7s to 8s a head for heavy sorts and proportionately lower for fighter calves, Runners made 30s to 87s 6d; vealers, 24s to 77s 6d.

Sheep were offered in about average ■ numbers, and the recent demand was well sustained, with price levels generally slightly easier, those for ewes being affected most. Hoggets sold well at recent rates, while spring lambs, in shorter supply, were firm. Most of the local offering is now going into the works. Wethers, prime, 23s to 27s 9d; unfinished, 20s to 22s 9d; ewes, prime, 16s to 23s 6d ; unfinished, 10s to 15s 9d; hoggets, shorn, 17s to 245; woolly, 21s 6d to 25s 6d ; spring lambs, best, 19s to 245; others, 10s to 18s. The pig pens were well filled and competition throughout was very keen, with all classes' selling well at about unchanged prices. Store pigs wore again in keen demand. Baeoners made 53s to 755; porkers, 35s to 525; large stores, 29s to 38s. Prices per lb, baconers, g'id to s£d; porkers, 6id to 6fd.

BURNSIDE VALUES,

Per Press Association. DUNEDIN, Oct. 31

Entries were heavy at to-day’s Burnside sale. In the tat cattle section, 290 head of good quality were too many for the butchers. While extra heavy bullocks and heifers almost held last week’s level of prices, all other sorts showed an average drop of 15s per head in a somewhat erratic sale, while several lots were passed. Extra prime heavy bullocks made to £l4 17s 6d; prime heavy £lO 2s 6d to £ll 7s fid; prime medium, £8 12s 6d to £9 17s fid; ■light and medium, £7 7s 6d to £8 7s 6d. Best heifers sold to £9 2s Gd ; medium heifers and young cows, from £5 17s 6d to £7 2s 6d ; and light and medium from £4 7s 6d. In the store cattle section most of the 326 head offered were three, and four-year-old steers. There was keen competition, and the top price was £7 10s for a pen of forward four-year-old Hereford steers. An entry of 2000 sheep included a wide selection of excellent wethers, both woolly and shorn. The demand concentrated on these and extra heavy prime maiden ewes. On an average prices were Is 6d a head lower than last week, with competition very slack at the end of the sale, when there was a further drop of Is to 2s per head, with frequent passings. Extra prime heavy woolly wethers sold to 32s 3d ; shorn,'to 265; prime heavy woolly, 28s to 30s; shorn, 22s to 245; prime medium, woolly, 24s to 275; shorn, 20s to 21s fid; light and medium woolly, 20s to 235; extra prime heavy maiden ewes, to 30s 3d ; prime heavy, 25s to 27s Gd; prime medium, 22s 6d to 245; light and medium, 19s to 225. Just over 100 lambs of average good

quality were offered. Opening prices were Is and closing rates 2s a head lower than last week.

The entry of fat pigs numbered 89. It was a brisk sale, both baeoners and porkers being in keen demand. The former made up to £4 0s 6d, and best porkers to £2 16s. About 120 store pigs were yarded. Competition was particularly keen, and all classes sold readily. Large stores sold to 295, and suckers from 14s to 21s.

GRAIN AND PRODUCE.

AUSTRALIAN MARKETS

SYDNEY, Nov. 1. Wheat at country sidings is quoted at bagged Is lid a bushel bulk fs IOJd, which is equal to 2s 6d and 2s 6Jd ex trucks Sydney. .Flour, £2 a ton; bran, £5; pollard, £5 ss. Potatoes, local, new, £l2 10s a ton; Tasmanian, to £l4; Victorian, to £9. Onions, Victorian, £lO a ton. Maize, white and yellow, 3s 3d a bushel.

ADELAIDE, Nov. 1. Wheat, growers’ lots, is 2s 6d to 2s 7cl a bushel. Flour, bakers’ lots, £7 17s 6d a ton. Bran and pollard, £5 ss. Oats, 2s 3d a bushel. Barley, 2s 6cl to 2s lOd.

N.Z. CO-OP. PIG MARKETING ASSOCIATION.

At a meeting of the Board of the New Zealand Co-operative Pig Marketing Association, Limited, held on the 25th October, the operations of the company to date were reviewed when on the position disclosed it was decided to pay the usual half-yearly, or interim, bonus about the middle of December. The payout to suppliers on exportable pigs will be at the following rates:—

Porkers: Up to 801bs lJ[d per lb 81 to 1061 bs Id per lb 101 to 1201bs Jd per lb Baeoners Jcl per lb Choppers id per lb

While local export values were practically on a par with those ruling last year up till the end of September, since this date prices have shown a marked advance. This is due to the excellent prospect of an unusually good Christmas market for all pigs winch can be shipped to arrive in time. There is, fortunately, this year no shortage in overseas space and in consequence arrangements have been made to clear all pigs killed to the end of October to arrive in England before the end of the year. In making this announcement the chairman of directors said that the supply received by the association to the 20th October represented an increase of more than double compared with that for the corresponding period last year. This, in view of the greatly increased competition by exporters this year, is viewed by the board as a mark of increased confidence.

Asked for his opinion of the market prospects for next year Mr Phillips said that present indications were most encouraging and excepting for the possibility of export restrictions or an import duty being imposed by Britain, the outlook for the remainder of the season was very bright indeed. In any case it was, lie thought, logical to assume that since the objective of Britain’s representations in these directions is to raise the price level to the home producer, should either of these possibilities eventuate the effect on price levels must be a hardening one. He added that while his association was earnestly awaiting the result of the discussions which are now taking place between the British Government and New Zealand representatives on these matters, he was confident that all reasonable stops would be taken by our representatives to safeguard the interests and future welfare of the pork industry, which is now of such vital importance to the dairy farmer. Asked as to which of the two evils, namely the import levy or suggested quantitative restriction, would be the more acceptable to the producer, Mr Phillips said he was definitely of the opinion thatin as much as our costs of production were easily the lowest in the world,- that a preferential levy against the foreigner with a free market. would be infinitely bettor than any restriction on our exports. COLOMBO TEA MARKET. Per Press Association. DUNEDIN, Oct. 31. The following cabled report on the Colombo tea auction of October 30 has been received here:—The market for medium and fine teas advanced about id a lb, while common grades were slightly easier at yesterday’s tea auction of 1,490,0001 b, the quality of the offerings being plain. At next week’s sale a total of 1,390,0001 bis catalogued for auction.

FROZEN MEAT. PRICES UNCHANGED

Prices are nominally unchanged. Lamb, market quiet. Wethers and ewes under 56 lb, small demand continues; over 561 b, a slightly better feeling provails. The foregoing cable advice was received by M. A. Eliott, Ltd., to-day, from Gordon, Woodroffo and Co., Ltd.. London. The following are Smithfiold prices for the week ending November 1, 1954 (these prices are on a “delivered” basis, that is, including storage charges, cartage, etc.) :—Best North Island prime lambs, under 36 7d, 36-42 6id, 42-50 s|d; ordinary North Island lambs, under 42 6£d; second quality, under 42, 6d; best North Island and/or maiden owes, 48-56, 55-64 4jd, 64-72. over 72 4|d; ordinary North Island wethers and/or maiden ewes 4856, 56-64 Island ewes, under 64 3|d, 64-72, over 72 2£d; New Zealand prime ox beef (equal fores and hinds), 160-220 2|d.

WELLINGTON STOCK EXCHANGE.

YESTERDAY’S BUSINESS AND

PRICES.

The latest buying and selling quotations recorded yesterday on the Wellington Stock Exchange were as follow:

YESTERDAY’S SALES. Sales recorded on Dominion stock exchanges yesterday are shown in the following list:— Wellington.—Nat. Bank of Australasia, £lO paid, £l2 12s 6d; N.Z. Guar. Corp., (2) 5s sd; N.Z. Insurance, £3 8s 9d; Kaitangata Coal, £1 Is fid; British .Tobacco, £2 Is fid; Henry Jones Co-op., £1 lfis; Woolwortlis N.Z., ord., £8 7s; Big River, ex rights, *ls 9£d, Is 9id; Worksop Ex., 3s 9d. “Late sale 'Wednesday. Auckland.—Govt; bonds, 4 p.c., 1946, £109; inscribed stock 4 p.c., 1946, (2) £109; 4 p.c., 1949, £109; 4 p.c., 1965, £ll3 10s; Mt. Roskill, 5§ p.c., 1960, £107; Bank of Australasia, £ll 11s fid; Comm. Bank ofAust., 16s; Bank of N.Z., £2 9s; A.P. Assurance, 10s fid; Standard Insurance, £3 10s; Goldsbrougli, Mort, £1 10s lid; Auckland Gas, .contr., 19s 9d; Kauri Timber, 19s 4d; Kaiapoi Woollen, coot. 4s Gel; Colonial Sugar, £76 17 S fid; W.Z. Drug. £4 0s 3d British Tobacco, £2 Is 3d; Farmers’ Fertiliser, 19s; N.Z. Paper Mills, £1 15s; N.Z. Refrig.; £1 paid, £l, 10s paid 9s lid; Wilsons Cement, £1 14s; Broken Hill Pty., £2 12s; Wflilii, ex div., £1 17s; Wailii G. Junction, (2) 4s 3d; Blackwater, £1 13s 6d; King Solomon, 3s 9d. Christchurch.—Bank of N.Z., £2 8s 9d; Dalgety and Co., £9 3s; N.Z. Refrig., 10s paid, (4) 9s lOd; Tooth and Co., £2 10s lOd; Beath and Co., Is paid, 9s 10d; British Tobacco, (2) £2 Is 3d; N.Z. Farmers’ Co-op., 44 p.c., 1930, £B6; Blackwater, £1 13s 4<l; Brian Born, (2) Is Id; Glenroy, llid;. Maerewlienua, (10) 4Jd ; Nevis Diesel, (2) Aid; Nokomai, 3s 9d; Worksop Ext., 3s fid, 3s 7d, (2) 3s 9d, 3s Bd, 3s 7Jd. Sales reported: Mere. Mutual Insur., £1 4s 9d; A.P. Assurance, 10s 5(1; Dalgety and Co.,

£9 3s, £9 4s Gd; British Tobacco, (2) £2 Is sd; N.Z. Refrig., £1 paid, £l, 10s paid 9s lid; Claude Neon (Sydney), (2) £2 11s; Deep Lead, *2s. *Late sale Wednesday. '

Dunedin.—Reserve Bank, £G 11s 3d, £6 11s; N.Z. Drug, (2) £4; N.Z. Breweries, £2 9s Gd; ICaitangata Coal, £1 Is Gd; Wailii, cum. div., £1 18s -del; Glenroy, Is; Bendigo Goldlight, 10id

Altliougli cases of influenza in Auckland, which a fortnight ago affected school attendances seriously, are now less prevalent, the staffs of many city offices and shops are still consideraly depleted. One effect of the outbreak has been the postponement of the Auckland Amateur Operatic Society’s production of “A Runaway Girl.”

Didn t the spell of warm weather make one realise that sunny days mean cooler frocks. What could be nicer than a floral georgette. The new range just to hand printed in fresh, original and attractive designs on blue, lemon, pink, green, black and white grounds. For a bridesmaid’s ensemble they would be particularly effective. A British fabric in fast colours, 36 inch 4s lid yard.—Collinson and Cunniughame, Ltd.—Advt.

Buyers Sellers. N.Z. GOVT. LOANS— £ s, d 4 p.c. Bonds, 1955 113 5 0 o p.c. Rural Bonds. 1947 103 0 0 p.c. Ins. Stodk. 1938-43 110 5 0 4 p.c. ditto, 1946 .. — 109 5 0 4 p.c. ditto, 1949 — 109 5, 0 4 p.c. ditto, 1955 113 5 0 — DEBENTURES— Well. Gas Co 103 12 6 Amid. Brick (Wellington) — 105 0 0 Ditto, Auckland — 105 15 0 Wright. Stephenson, 5 P-C 98 10 0 — BANKSAustralasia ...'. 11 10 6 11 15 0 Control, of A list., ord. 0 16 0 Comrcl. Banking: Co.. Sydney 16 15 0 17 10 0 Eng., Scot, and Aust. 5 3 0 National of N.Z 3 10 6 National of Australasia. £5 paid *6 2 6 New South Wales 31 10 0 New Zealand 2 8 9 2 9 3 Ditto, D long term ... — 1 14 6 Reserve Bank of N.Z. 6 11 3 6 12 0 Union of Aust 9 4 0 9 7 0 FINANCIAL— Abraham and Williams. pref 4 14 0 Dalgety and Co *9 0 0 9 7 6 Goiu<sbrough, Mort and Co 1 10 6 1 1 6 National Mtge., “A” — 3 1 0 N.Z. Guarantee Corp. 0 5 4 0 5 6 Well. Invest.. T. A A. 0 8 9 Well. Dep. and Mtge. 0 4 0 0 6 0 General Finance — 10 0 GAS— Christchurch 1 14 0 Gisborne 0 12 0 Wellington, ord 2 10 INSURANCEAust. Prov. Assce. ... — 0 10 11 National of N.Z *116 New Zealand — 3 9 3 South British 4 8 6 4 10 0 MEAT PRESERVING— Gear Meat — 17 3 N.Z. Refrig., £1 paid 0 19 10 1 0 6 Ditto, 10s paid 0 9 9 0 10 0 TRANSPORT— Union Steam, pref. ... 1 7 9 18 6 P. and 0. def. stock 12 0 Kelburn Tramway ... 1 5 9 WOOLLENKaiapoi, prof -— 110 Ditto, paid 0 14 10 Wellington, ord 5 11 6 — Ditto, pref 5 12 0 — COAL— Kaitangata 110 12 0 Westport —- 0 19 2 Westport-Stockton, pref 0 4 6 TIMBER— Leyland-O’Brien 12 3 13 0 National 0 14 0 0 15 0 Taupo Totara — n h 3 Rotoiti 0 3 0 0 4 5 TIP EH ITU Its N.Z. Breweries — 2 10 3 Staples and Co 1 10 6 Tooth and Co — 2 11 3 Tui '2 19 6 MISCELLANEOUS— British Tobacco 2 12 2 1 9 Colonial Sugar *76 10 0 77 5 0 Con. Brick and Pipe 0 10 10 0 11 3 Den. and Med. Sup. 0 7 6 0 11 3 Dominion Fertiliser ... 1 0 6 . Dunlop Perdriau — 1 0 1 Electrolytic Zinc, ord. 17 9 18 0 Ditto, 8 p.c. pt. pref. 1 16 0 Farmers’ Co-op. A net. — — 3 19 0 Henry oJncos Co-op. — 1 17 0 N.Z. Paper Mills *1 13 0 — Sharland and Co., ord. *1 6 0 Ditto, pref *16 0 — Wool worths N.Z., ord. 8 2 6 8 7 0 Ditto, prof — 2 1 0 Australian Glass *2 14 0 — OIUTaranaki 0 0 7 — MINING— Alexander, contrib. ... 0 15 10 0 16 2 Bell Hooper — 0 0 6 Bell Kilgour 0 0 2 0 0 4 Big River, cum. rights 0 18 0 1 10 Brian Boru 0 10 — Central Shotovcr 0 0 5 0 1 0 Consol. Goldfields , — 0 17 0 King Solomon 0 3 8 0 3 9 Mount Lyell 0 19 0 0 19 3 Nokomai 0 3 7 0 3 11 Okarito 0 8 2 0 8 9 Talisman Dubbo 0 11 6 — Waihi fl 16 9 — Waitahu — 0 4 1 Lawson Flat 0 0 2 — Nevis Diesel 0 0 4£ 0 0 5 Moonlight Nelson — 0 0 23 Worksop 0 3 7 0 4 0 Maerewhenua 0 0 4 — *Cum. dividend. fEx dividend.