COMAL

Nelson Evening Mail, Volume LXX, 26 May 1936, Page 8

COMAL

RAW MATERIALS (United Press Association—By Electric Telegraph—Copyright) LONDON, 23rd May. Friday’s closing prices for the following raw materials were as follows, those for 15th May being shown in parentheses : Cotton : Liverpool quotation good, American middling, spot 6.57 d a lb (6.56 d): June delivery, 6.16 d a lb (same). - v Rubber: Para, 9d a lb (same); plantation smoked ribbed sheet, 7gd a lb (7 7-lGd). Jute: May-June shipment, Indian jute, Dundee quotation, £lB 3s 9d a ton (£lB 18s 9d.) Copra : June-July shipment, South Sea to London or Rotterdam, £l2 5s a ton (£l2 2s 6d); smoked, to Marseilles or Genoa, £ll 15s a ton (same); plantation, Rabaul to London or Rotterdam £l3 a ton (£l2 15s). Linseed oil: £27 a ton (£27 10s). Turpentine : 38s 9d a cwt. (39s 3d). BUTTER AND CHEESE The London buter market continues firm, New Zealand finest closing at 97s to 93s a cwt, an advance of 2s on the previous week. Danish shows a rise of 6s on the week, closing at 108 s spot. The New Zealand retail price is unchanged at lid a lb, but it is expected that u will be increased to Is this week, while Danish is unchanged at is la.

Deliveries of New Zealand butter last week totalled 1758 tons, compared with 1968 tons ,fo rtlie previous week and 1800 tons a year ago. Australian deliveries were lii9B tons, against 1950 tons a year ago. New Zealand stored butter iias decreased by 4102 tons, including 961 tons ex Rangitata and Mamari, compared with 4472 toils for the previous week and 7880 tons a year ago. Australian butter in store- totals 4650 tons, against 8300 tons a year ago. The cheese market is steady and prices unchanged. Deliveries of New Zealand cheese last week totalled 17,980 crates, against 17,963 crates a year ago, while the quantity in store is 91,3ul crates, compared with 178,394 crates a year ago. Canadian deliveries were 3912 boxes, agdiiist 4586 boxes a year ago, the quantity in store being 60.330 boxes, against 60,087 boxes a year ago. . The Dairy Board’s London office reports last week’s closing quotation as follow, those for the previous week being shown in parentheses : New Zealand, white (equals approximately 6.38 d f.0.b.), 57s 6d to 58s (57s 6d to 58s ; 22nd May, 1935, 43s to 43s 6d); coloured (equals approximately 6.09 d f.0.b.), 55s 6d (55s to 55s 6d; 22nd May, 1935, 44s to 44s 6d). Australian, white, 56s (565); coloured, 53s 6d to 545). Canadian, white, 645, ex 66s (62s to 645); coloured. 65s (65s to 665). English factory cheese, 50s to 54s (52s to 545).

BUTTER MARKET ACTIVE . LONDON, 23rd May. Better news for Australia and New Zealand is the sustained activity in butter, the most-favoured feature of which is the. strong forward position. The rapid decline of Australian and New Zealand gradings is the principal reason for the bullishness. Another factor is the backward production throughout Europe on account of the cold spring. Most buyers have been running with light stocks, and the rise in prices resulted in a scramble for supplies, whifch are inadequate to meet the- demand.

Some Tooley Street dealers, however, are wondering whether the appreciation is not too steep and sudden. If the retail price of Empire butter rises above Is a pound consumption is likely to suffer.

■Cold store stocks are beginning to increase, and the May-June total arrivals are likely to exceed consumption by approximately a thousand tong a week. It is doubtful whether the trade will absorb the surplus except at a price yielding a good margin of profit if retailed at Is. Cheese continues firm, though overshadowed by butter and a further appreciation is expected in the near future. Canadian production is backward, with but little cheese offering. lSew Zealand, salted (equals approximately 1.1.44 d f.0.b.), 97« to 98s (93s to 9bs; 22nd -May; 1935, 79s to 81s); unsalted, 98s (93s to 95s : 22nd May, 1935, 79s to 82s). Australian, salted, 96s (92s to 945); unsal.tetl, 96s to 975. Danish, 88s f.0.b., 108 s spot (82s and 102 s). Dutch, unsalted, 88s to 94s (85s to 38s up to 90s). Siberian, salted, 96s to 97s (S9s to 925). Polish, salted, 88s to 90s (83s to 84s); unsalted, 89s to 90s (83s). FROZEN MEAT TRADE Lamb market: Shade easier. Mutton market: Lightweight wethers slightly lower. Ewes easier, with heavier arrivals and slow demand. Beef market: Frozen beef prices nominal. Now . Zealand porker pigs: Trado slow. New Zealand baconer pigs: Market quiet and unchanged. The above report was received on Saturday by tlie -Meat Board from its London office, which advises that the following arc the approximate average prices realised for tile week, based on actual transactions of wholesale quantities of the descriptions of meat mentioned, and are for representative parcels of the goods offering during the week, being for business done on the basis of delivered to Smithlield market, and/or ox London stores. Prices for the two previous weeks are also /shown : New Zealand sheep: Canterbury and North Island selected crossbred wethers and maiden ewes, 481 b and under, 4J-d 147. sd; 481 b to 561 b, 4id (43d, 4|d); 571 b to 641 b, 4|d (4|d. 4id); 651 b to 721 b, 4d (same). North Island, 481 b

to 561 b, 4§d (43d, 4|d) ; 571 bto 641 b, 4id (4id, 4|d) ; 651 b to 721 b, 3?d (3-j(d, 4d). Ewes, 481 b and under, 4fd) ; 481 bto 641 b, 3gd (3?d, 4d); 6olb to Y2lb, 3|d (3J ; d, s^d). New Zealand lambs: Canterbury, 361 b

and under, 7g 7§d; 371 bto 421 b, (6fd, 6§d); 431 b to 501 b, (6£d, 63d). Second quality, average about 311 b, 6Jd (7d, 7j). Other South Island, 361 b and under, 7g 7§d; 371 bto 421 b, 6J,d (6Ad, 6|d) ; 431 b to 501 b, 6jld (6JLd, 6|d). North Island Downs, 361 b and under, 7gd (7£d, 7Ad); 371 bto 421 b, 6fd 6|d); 431b'to 501 b, 6£d 6 l-Bd. Second quality average about 301 b, 7 l-8d (7£d, 7£d). North Island, first quality, 361 b and under, 7d (7 l-Bd, 7 l-8d); 371 b to 421 b, 6 3-8 d (63d, 6Jjd). Second quality, average about 311 b, 6jjd (6jjd, 7d). ■ Australian lambs: Victorian, first quality, 361 b and under, 6 5-8 d (6 5-Bd, 6|d) ; '37lb to 421 b, 6d (same). Argentine lambs: First quality, 361 b and under, 6£d (6£d, 6 3-8 d); 371 bto 421 b, 5 7-8 d (same). New Zealand frozen beef: Ox hinds, 1451 b to 2101 b, (same) : ox fores, 1451 b to 2101 b, 3d'(23d, 23d). New Zealand chilled beef: Ox binds 1451 b to 21'6'ib, 3 5-8 d (4 l-Bd, 4-J £ d); ox fores, 1451 bto 2101 b, 2Ad (2Ad, 25-8 d). Argentine chilled beef: Ox hinds, 1451 b to 2101 b, 4j|d (same); ox fores, 1451 b to 2101 b, 2Jd (2 7-Bd, 3d). Uraquaynn chilled beef: Ox hinds, 1451 b to 2101 b, 4 l-8d (4id, 4 3-8 d): ox fores, 1451 b to 2101 b, (2 5-Bd. 2 5-8 d).

Brazilian chilled beef: Ox liindg, 1451 b to 2101 b, 3?d (4d, 4 l-8d). Australian frozen beef: Ox hinds, 1451 b to 2101 b, (same) ; ox crops, weights corresponding, 3 l-8d (3 l-Bd, 3d). Australian chilled beef: Ox binds, 1451 b to 2101 b, 31,d (4d, not quoted); ox crops, weights corresponding, 2J,cl (2 5-Bd, not quoted). Union of South Africa chilled beef: Ox binds, 1451 b to 2101 b, 3|d (4Jfd, 4 3-8 d); ox fores, 1451 bto 2101 b, (2£d, 25-8 d). New Zealand porker pigs : First quality, 601 bto 801 b. 5 3-3 d (same); 811 bto 1001 b, 5 l-8d (SJ-d, 5ad)1011b to 1301 b s£d (same). New Zealand prime baconer pigs : 121 lb to 1601 b, 5Jd (same).LONDON PRODUCE MARKET The Department of Agriculture has received the following cablegram, dated 23rd May, from the High Commissioner for New Zealand, London :• — Tallow : Poor demand continues. Market remains depressed. Spot quotations nominally unchanged. Forward shipments ; prices easier. Hemp: Manila market remains firm. Low grades arc scarce ; “K” grade for May-July and June-August shipments valued at 20 10s. Sisal market quiet but firm. Available supplies small. Sellers quote £2B for May-July and JulySeptember shipments. New Zealand: Nothing to report. Market nominal. On the basis of high-points. £2l for May-June shipment.