COMMERCIAL.

New Zealand Herald, Volume LX, Issue 18295, 11 January 1923, Page 5

COMMERCIAL.

' THE LONDON MARKET. BUTTER PRICES ADVANCE. l [BY TELEGRAPH.—OWN . CORRESPONDENT.] ..';..•.■■■■,;•. WELLINGTON. Wednesday, •'■The -Department of Agriculture .has received the following cablegram, dated January 6, from the High Commissioner for New- Zealand. London:— ■'.'•.'• Meat.—The small available supplies; of New Zealand are making good prices. Chilled beef has improved slightly. NewZealand, frozen beef supplies are small and are selling at about the quotations l already given. New Zealand .-—January 6: Wether, 9jd; ewes, 6Jd to 7i. New Zealand lamb: Best quality,' light-weight. Is Old. New Zealand beef: Fores, id; hinds, 4jd. Chilled beef: Fores, sd; hinds, 71d. Butter.—The market is firm. New Zea- ' land finest advanced this week from 190s per cwt. Official quotations are:—New Zealand: Salted—Finest. January 6, 194s to 196b per cwt.; December 29, 184s to 190s per cwt.; December 22, 182s to 184s per cwt. Unsalted—January 6, 196s to 133s per cwt.; December 29, 190b to 194s per cwt.; December 22, 184s to 186s per cwt. Other qualities—January 6, salted 190s to 192s per cwt., unsalted 190s to 194s per cwt. Danish: The market is quiet. January 6, 214 a to 218s per cwt ; December 29, 211s to 216 a per cwt.; December 22 212 a to 214s per cwt. Australian: Salted Finest, .January 6, 190s to 192 a per cwt.; December 29. 176s to 180s per cwt.; December £2, 174s to 176s per cwt. UnsaltedJanuary 6, 192s to 196s per cwt. ; December "29, 182 a to 186s per cwt.; December 22, 174s to 178s per cwt.; January 6. exceptional salted, 194g per cwt.. Other qualities—Salted, 178 a to 188s per cwt.; unsalted, 186b to- 190s per cwt. . Argentine: January 6. 165s to 184b per cwt.: December 29. 156s to 170s per cwt.; December 22, 150s to 154s per cwt.; January 6, exceptional, 186b per cwt. Cheese.—The market is firm, with a good demand. English: Finest farmers'— ary 6, 185s to 144s per cwt.; December 29, 180s to 140s per cwt.; December 22, 132s to 134s per cwt. Canadian: January 6, coloured and white, 130s to 1345, and up\to 136s per cwt; December 29, coloured 126s to 128s per cwt., white 126s to 130 a per cwt.; December 22, coloured 124s to 126s per cwt.. white 126 a to 128s per cwt. New Zealand: January 6, coloured and white, 130s to 1325, and up to 134s per cwt.; December 29, colopred 124s to 126s per cwt., white 124s to l'2Bs per cwt.; December 22, white and coloured, 122s to 124s per cwt. A shipment of New Zealand produce arrived this week by the Ruahine. The estimated cheese stocks in London, Liverpool, Bristol, are:—New Zealand and Australian, 3360 crates; Canadian, 58,500 crates; against 27,100 and 206,500 crates respectively at the same time last year. . Hemp.—Manila met a, good speculative demand. Fair business has been done and prices have- advanced. " G " grade, Jan-uary-March shipments, sold up to £36 ' 10s per ton; "J" grade, £34 per ton. The New Zealand market is unchanged, with sellers quoting, fair grade in dock, £31; highpoints spot, £33 10s per ton. Wool.—The Bradford market is firm, owing to a good demand* for hosiery and export trades. The piece goods trade demand shows little change. Present quotations are:— 64's (Merino), 5s 2d; 66's (halfbred), 8s lid; 40's, prepared (coarse crossbred),- Is 2fd. ■■ Honey.The market is quiet, but steady. New Zealand, white prime, 76s to 80s per cwt.; Now Zealand, light amber,, 65s to 77s 6d per cwt. Lower qualities are not in demand, and are quoted at 35s per cwt. FOREIGN EXCHANGES. A. and N.Z. : LONDON, Jan. 9. The following rates on foreign exchanges are current to-day. as compared with the cabled quotations on January 5 and par:— Jan. 9. Jan. 5. Par. New York .. 4dol 64Jc 4.64} '4.866 Montreal .. 4dol 66|c 4.68J . 4.866 Paris . . • . 68fr 15c 65.15 25.225 Borne .. .'. 93glire 90f 2.5.225 Berlin . . . . 44,500 m 37.500 20.43 Stockholm . . 17kr 30ore 17.27 18.15S Christiania . . 23kr 83ore 24.56 18.J.5S Copenhagen . . 22kr 81oro 22.70 18.153 Calcutta . . ■ Is 4id la 4id 2s Hongkong . . .2s 3}d 2s 3d — Yokohama . . 2s lid 2s 1 5-16 d 2s OJd PRICES OF METALS'. A. and N.Z. LONDON, Jan. 9. Prices current to-day on the metal markel Copper.— £64 8s 9d; three months £65 3s 9d. Lead.-— £26 12s 6d and £26 2a -.6(1. , . Spelter.— £ 35 12s 6d and ;£S3 17s 6d. Tin.—£l79 6s 3d and £180 15s. Silver.—2s 8 l-16d per oz. 1 price FOR Canterbury lamb. ' [by telegraph. CORRESPONDENT/ WELLINGTON, Wednesday. The New Zealand Meat Producers' Boarc has now been advised that lOid is no> being definitely offered by the pound it Canterbury for prime lambs, 421b anc under. "■'■'... ' '-'"■ . BRADFORD WOOL MARKET. A. and N.Z, LONDON. , Jan. 9 The Bradford wool market is very firm. Topmakera are adopting a.protective policy, and little actual business is being done. Sixty-fours are quoted at 6s.' BUTTER AND • CHEESE. THE LONDON MARKET. ' '• ... [FROM our own correspondent.] LONDON, Nov. 30. What shall we makebutter or ■ cheesei It is an old question and one which, cat never be answered until it is too late to: factories To act upon, advice—that is, to< late for them to secure that harvest, o profit they ieel they, might,have secured Fortunately, there is the consolation that na< . they known .in time. their action woukt havi prevented any scarcity of cheese, and then would have been no high prices as. there an to-day owing largely to the Canadian short i Factories in Now Zealand seemed to havi confined their attention almost entirely ti butter-making for September, October, an( the greater part of November. Prices wen relatively higher then for butter than fo cheese, and. no doubt, seeing that Govern ment butter which was on. the markets th» time last year had been got rid of, the; anticipated that butter was going to be > , very good proposition. Hence they neglectei cheeso. In the meantime the Canadiai supply of cheese fell short by 350.000 bose , on their last year's make, and there wer very light stocks in this .country for som , months past. ' ~ , ■■..: , ■ . „; As for butter, not only people in Ne\ , Zealand thought there might be a- shortngt ' but buyers here were anxious, and price ruled high. Ae soon as the quantities oi the water from New Zealand and Auatraii: ) became public knowledge feeling . oecani easier as to the ' future supplies, and thi began to weaken the' market. .. , :. 1 It 'is quite obvious, ihowever, .that ,i i some prophet or seer had ; persuaded tn • New Zealand factories to concentrate ■■a: 1 cheese some few months ago the CanadiaJ 1 deficiency would have been made i up, am people to-day might have -been asking wh: ' they had not been told there was to be ; ' shortage of butter. Ten days ago best Ne\ ' Zealand butter was selling at .214s to 216 i per cwt. To-day it is unsaleable at 196 st ' 19R$. Naturally, everyone is waiting to se [ if the price will drop, and • no one wants t Over a certain period lately some 420,00 boxes of butter came from, tile Dominion as compared with 22,000 crates of cheese so it is easy. to" see why buyers : are no struggling to obtain supplies of the _(ormei '■■ In the meantime, no doubt,;; following th dictates of common 'sense fortified by -• th advice of agents in London, factories toy turned to manufacturing cheese, and tn 1 butter position for the next month or tw will be controlled largely by ■ the amour, of cheese New Zealand ia now makin? an , the weather conditions in": Australia. Shu mento from Australia have not been, quit 1 so heavy as at one time was anticipatec • Dp, to Christmas, however, -to is anticipate ' prices will remain fairly gooa. i An interesting feature 'of the mark* ' change was that when it. became pubn i knowledge that the Canadian make was - long way below the -estimated stocks, ver » little interest was taken .in the fact. . 1 1 is believed that people Here thought th i position would be righted by New . Zealanc J The Dominion failed to come up to expect: , t*ons. with the result that New Zeilan - cheese is now selling at 126s per cwt. Som I of th<» larger multiple j>hops bought from New Zealand of September and. Octobf I make, and at the same time they had fain i covered themselves for ,: tlh'eir - Canadia a supply. Conspquently for some time the b kept the retail price at: lid ■ to: Is. : No; t, the retail price is at, Is 2d. which worn 1 brlns no profit at present, wholesale price 3 With meat at a reasonable price, and bet , especially cheap. Is 2d is the most th* t retailers can ex'pec* to get for their cheew a 1 and should they be forced to put up .th v retail price the; probable result, would ■ c , that the public would refuse to buy, and 2 reaction would set, in, the wholesale pne f falling with startling suddenness. ; r ■ ■' . "'STOOK ; SALES. 8 _j ■..'■;'' •*; '. AUCKLAND. r The. New Zealand Loan and Mercantil •- -Agency Company, Ltd., report :— , • '■■■■:■-•..■, i We held sales during the past .week a 5 Papakura, Clevedon, and Pukekohe. v.attl b have been penned in average number? ■. Competition has improved, prices being d* cidedly better for all classes of cattle, wit] the exception of s empty heifers,■;■ which ar still dull of sale. We quote: Best dair: cows and heifers £9 to £15. others . £6 10b t T £ 15s: aged cows and inferior heifers, 1 £ I 10s to £5 ss: bulls. £2 to £5 10s; empt: ■'•■■ cows, £1 to £2 10s; yearling heifers. £1 .1 '»: £2 15-s; yearling -to 18 months steers, £ 10s to £2 12s fjd; 2 to 2J.year atoers, £ ;.A'-:;.- '■■':;. : '-':f :^'--^<

lCs to" £3 IDs; 3 to3l-year stoers;;£3' "iTd|6d> ; to £4 17s 6<l •: -1 ■•; year ■; to . 4i-yc»r. A 5 > to .£6 sa; beef at fully V/estfiold prices. ~ .At Y?esiae-ld fat . stocK market on Wednesday beef was penned in' average number?. Competition was again- keen, last week improved prices being-.easily, sustained, : j-wft . quote: Extra. choice oxen to 27s per iuuit>. . choice and prime 22s to 265, rough and -;.. plain 17s to 216; young cow and heifer beet, . 19s to 23a pcrlOOib; ' other . cow beef.; 12s to j 17s per 1001b.' No extra heavy cattle :.i were penned. Heavy prime-etee.rsr.£lo .-c- ~ £11 10s, medium £8 10s to £9176 6d. light £7 5s to £8 ss; unfinished steers, £5 to ±7 y 2s 6d; heavy prime : cows and heifers. ±o , 15s to £7 2s 6d i* cdium to. light, cows and ' heifers, £4 to ?5 12s 6d; interiorly fatted . cows, and heifers, £2! 5s to £3 17s 6d: bulls,; £2 3e 6d to £5 10s. Calves were penned. in , averfge numbers, good quality calves using in demand. Inferior calves were easier. Runners, £3 to £4 ss; heavy yfalera. £3 to £3 15s, medium £1 15s to £2 10s, light £1 to £1 10s; small and fresh dropped, 3s to ■10s. Sheep were .penned'in average numbers, selling under keen competition at improved values. Heavy prime £i las 6d to £1 16s, medium £1 10s to £1 13a 3d; light prime and unfinished wethers. £1 ,73 to £1.9s 9<l; heavy prime ewes, £1 9s to. £1 13a 9d. medium'£l 6s Bd.to £1 9s; light prime and unfinished ewes, ■£1 3s 6d to £1 6s 3d. Pigs were penned in averase numbers. i; <ielline at late quotations. ■ Choppers, £2 • tdi £2 158; heavy and medium baconers, £3 ssi to £3 13s; light bacdnere and heavy, porkei'3 £2 109 to £3 4a; medium and light porkers, £1 17e to £2 9s. Store -pigs sold at late quotations. Larg* stores, £1 &s to £1 • ■ 15s;' clips, 16s to £1 iar 1 weaners, 10s to 15s. Lambti Were penned in large numbers being mostly of inferior quality, good quality selling readily at late quotations, store lambs ' selling at late rates, Heavy prime lambs,. £1 7s 3d to £1 9s, medium £1 6» to £1 7s, ■ light £1 2s to £1 4s 9d, unfinished lambs, 1 best 17s 9d to £1 Is, others 12s 9d to 17s 1 6d. Dalgety and Co!, Ltd., report having held ' their usual fat stock sale at Weßtfield yes- " terday. ~''.•■ 1 •' Beef.— average yarding sold steadily ' under keen competition, and prices were ! very . firm at late rates. Extra ohoice ox 1 27s per . 1001b, choice - and prime 245. to 265, r plain beef 22s to 233 6d; choice and prime , heifer and young cow 20s to 233 per 1001b, 1 other 16s to 19s. Sheep.—A fair yarding; prices were equal ' to last week's quotations, and in . many 3 cases exceeded. Extra heavy .prime '• wethers 355, prime heavy to 345, good fat 5 wethers 30s to 335, light and unfinished £ 5 6s to £1 9s. Ewes: No extra heavy yarded. ; Heavy prime ewes to £1 Bs, good fat ewes - £1 5s to £1 7s, light and unfinished £1 2s : to £1 ss. ' „. ', ' Li ■,:■.-„■ - • Lambs.—A good yarding, of mostly unnn- " ished, prices for prime being somewhat bet- ? tor. Heavy prime to £1 10s, medium 1 prime £1 6s to £1 Bs, light fat £1 2s to £1 4s 6d. unfinished 13s 6d to £1 la.- ' " Calves.— medium yarding sold readily. " Runners £2 5s to £8 15s, heavy .vealers ' £1 18s to £3, light £1, young and -fresh- ; dropped 5s to 10s. ■ . i Pigs.— fair yarding sold' well at prices 8 slightly below last week's rates. Heavy baconers to £3 12s, lighter to £3 ss, por- » kers £1 10s to £3.. ' :.■'■■ ■ ' ... 5 '"-_:, 9 Alfred Buckland and Sons. , Ltd.. re- * °Ye*sterday at our Westfield /weekly fat stock market our supply of beef numbered . 602 head, comprising 855 steers, 131 cows I and heifers, and 16 bulls. There was - again - a very keen demand and last week s ad- . vance was easily sustained. Extra, choice . ox sold to £1 7s per 1001b.; choice and 1 prime ox. £1 4s to £1 6s; ordinary . and 9 plain ox. £1 2s 6d to £ 1.3s (3d; prime young cow and heifer beef. £1 to £1 5&: ; ordinary cow beef. 15s to 18s; rough beef, 1 12a to 14s; extra. heavy prime steers, to 3 £13; heavy prime ateeref £10 10s to £12 a 10s; lighter prime steers, £9 to £10 53: light prime steers, £7 to £8 15s; unfinished and small, £3 10s to ;£ 6 15s; extra heavy • prime young cows and heifers, £6 15s to £7 15s; heavy ' prime young cows and L heifers. £6 to £6 12s ,6d: lighter, >• £4 15s to £5 15s; other cows, £2 a to £4 10s; bulls. £1 10s to £6 17s 6d. The a highest average was obtained by Mr. H. lu. _ Reed. Waerenga. whose 15 steers made _£ 11 9s. The sheep pens wore comfortably filled ■- with a nice class of mutton.. Competition 6 was keen, with a further ..rise m values. 8 Heavy prime - wethers, £1 14s to £1 18a (no 5 extra heavv wethers offered): medium to j 5 heavy prime wethers. £1 lis to £1 13s 6d; : light prime wethers, £1 8s to £1 10s 6d: ■ a unfinished wethers. £1 6s 6d to £1 7s 9d: ! „ heavy prime ewes, £1 8s 6d to £1 lis; X lighter prime ewes.'£l 5s to £1 8s; other 9 ewes, £1 Is to £1 4s 6d (1787 sold).. There was a heavy supply of lambs; a big proportion were, unfinished/. All classes .sold d freely at ruling prices. Best heavy prime. £1 9b to £1 lis; lighter prime, £1 5s to £1 8s 6d: light prime. £1 3s > to £J ss; unfinished, ,16s to -£ 1 Is; - small stores. 7s to 14s (890 sold).. Fat and young calves ). were penned in average numbers. Com,i. petition was keen and values were shgntly 11 firmer for all good quality - vealers. Rough and plain calves remain dull of -sale.; ltun- : 3 ' nera made from £217 ato £4 15s: heavy vealers. £2 10s to £3 163:- medium vealers, ' .'. £1 15s to £2 9s; light vealers, , 15a to £1 .'■ 13s; small and : fresh-dropped. 3s .to . 14s • (154 sold). Fat pigs were yarded in large numbers. There was a good demand, and last week's values were sustained. Choppers, £1 to £2 10s; extra heavy baconers, £3. 12s to £3 16s; heavy' baconers. £3 Is to ; £3 10s; light to medium baconers, £2 14s .1 to £2 18s; heavy porkers, £2 os to £2 10s; light to medium porkers, £1 10s to £.2 '.■■:' 2s 6d (448 sold). v •d . ——— I ADDINGTON MARKET, :; d , , [BY TELEGRAPH.—PRESS ASSOCIATION.] . CHRISTCHTTRCH. -Wednesday, y There was a general, all-round improve9. ment records -in .values at ■■' the ■■ Addington stook sale, fat cattle and store sheep being '• especially keenly sought after. The demand '' for the latter was unusually: strong, , ewes '• . particularly selling well.. Prices all round showed. a tendenoy to ri5e........-■■.■ .■..■.■•.■.-■ : Store Sheep.—Forward, four and> six-tooth wethers. -. 26s to 27s 3d; ordinary, 22s 3d to 25s 6d: two-tooth wethers, 20s to 21s 6d: cull, two-tooth, 15s to 19s: forward lambs. 24a 4d to 26s sd; ordinary, 20s to 23s ; 6d: small and inferior, 16s 7d to : 18s 6d;, ; good four, six, and eight-tooth' ewes,. 81s to 33a: ordinary, 2Gs 3d to 28s; -failing-mouthed ewes, 18s to 235; aged ewes. 13s 9d .to 18s 7d: failing-mouthed ewes ; and lambs, ? . Fat Lambs.— was a yarding of. 3430, ,n compared with 2650 last week. Heavyn weights went to the butchers, who paid up )( to 10 Jd per lb. Graziers got' a good ; proI s portion of inferior sorts. Extra prime,..33s. a : Cd to 365;: prime, 29s 6d to 335; medium,' ld 26s 9d to-SS»:. light and unfinished,. 235. ; ;10d i ' e to 26s 1-6 Fat Sheep.—The entry was a : small., one Le of between seven and eight races, .with a -.*: large proportion of ewes.. The .quality gen- .„ erally Vas indifferent. ; The r bidding' l„ throughout was fairly brisk, and : there,was ,3 practically a total . clearance. ,On v the •a whole, values were Is Go- to 2s i.6d, per head I. above late rates. Average prices. per lb. ?, ranged from 6ld to 6id .for butchers i- wethers, and 5d to 5Jd for ewes. Extra „ prime . wethers. 34s ;to 38s 3d; prime,.3os a to 33s 9d; medium. 28s to 29s 6d:; light ,'a and unfinished. 23s to 27s 6d. Extra prime :„ ewes to 36s 3d: prime, 28s to 29s 6d; eg medium. 24s 9d to 27s 9d; light, 23s 6d re to 24s 3d: aged and inferior. 20s 5d to 225. !ft Fat Cattle.—The yarding amounted to 353 head against 325 last week. The, entry , w included an undue proportion of old cows I and unfinished steers. Well finished steers 4 were in short supply and met with better m competition; prices showing an advance ia, about 20s on last week's rates. Good .cow ,a beef also ! showed an improvement. Well ii finished beef averaged : SOs 6d to n 33s.per 1001b; medium 27s to SOs; unfinished,. 23s to if Q6s; old cow beef, 17s to 20s 6d: exirft prime la steers. £14 10s to . £16 10s; prime.. £11- 15s m to ' £14; medium. £0 to £11 55.: light>nd m unfinished, £5 6s to £8 15s; prime heifers, d £7 17s 6d to £10: ordinary, £4 to £7 10a: ,v prime cows. £6 10s to £10 7s 6d; ordinary, a £5 to £6 ss; aged and inferior, £2 12s 6d , w to £4 15s. . , , A ; r 1 . Sb" Vealers.—A : fairly large isntry was for--0 ward, the demand being gooo._ Last week's ae values were well maintained. Goqd runners to to £4 :12s 6d: ordinary vealers. £2,55. to £3 ss; small calves. 4s upwards. . 00 Store —There was a medium entry, u mostly of nondescript sorts. Values were a' good. Three -end : four-year-old steers, tto ot £7 3s; three-year-old steers. £4 '7s>: 6d to . r £4 .128 6d; two-year-old steers, £2.-108. tc its £3 53; yearling steers. ■ 15s \to 20s; ~good he two-year-old heiferst to £5 i two-year-old ~a heifers,• £3 5s to £3 10s; ' extra good; 18- :,» month-old heifers, to £4; yearling heifers, vo £ 1 10s to £ 15s;. medium to good cows nl £1 6s to £1 12s 6d; poor. 13s to 18s. .' .. ~a Dairy Cattle.—The entry was 75 head, p. compared with 50 last week. Values were in a shade lower than last week. Extra good ,a second, third and fourths' carvers, close tc «d calving, 11 10s; medium to good second. third and fourth calvers, close to calving. -t £4 -10s to £8; good : springing heifers. £.< II to £6 ss; medium. £2. £3 10a: inferior « aged and backward cov/s, £1 to £2 10s. rv ' Fat Pigs.—A good entry met with a-fan ft demand. Choppers. £2 10s to ; £4; hghi he baconers, £215 a: to £3; heavy .baconers "a £3 2s 6d to £3 8s: extra heavy baconers ,1 £3 10s to £3 183: average price lb.. 6ic nd to 6d. Light porkers, £1 18s to £2 2s ne heavy porkers, £2 : 6s to £2 12s; averag! , sfi price per 1b,,: 6d, to 7d. '"•'. . , ,„r Store Pigs.—-A medium entry met with 1 ■i v moderate demand. Good weanera, to. 20s ii ordinary, 10s' to 16s; slips. 17s to 225: e y medium stores, 24s to 30s; large, to 41s. jw " .■""■'»' ■■ -■- i' ■■', ■ ■ _. "'■.;•'' .Id. ■ V , . ■, '. .;.-■■;■. , :' - -v. -