DAIRY PRODUCE MARKET.

New Zealand Herald, Volume LXVII, Issue 20722, 15 November 1930, Page 7

DAIRY PRODUCE MARKET.

LONDON POSITION QUIET. LITTLE FORWARD BUSINESS. An interesting review of the dairy produce position is given by A. 11. Turnbull and Company, Ltd., under date November 11. ' Throughout October the butter market has been weak and de-' pressed, more particularly colonial, states tho review. The main cause for the depression in colonial butters has been tho cheap offering of Australian. Tho Australians are offering their finest butters for shipment- in November and December at as low as 94s c.i.f.c. It is reported that there is difficulty in arranging advances on consignments, which creates the tendency to sell, and Australian importing houses arc ready buyers of butter in order to assist them in the transference of their credits to London. London buyers are also somewhat nervous owing to the heavy production in Australia and New Zealand. Consequently there has been little interest shown in forward business. During the last few days there has been an inquiry on behalf of London buyers at 10jd per lb. net f.o.b. ocean steamer. Although lower retail prices have undoubtedly increased the consumption of butter, there is still lack of confidence, and large buyers are only operating as supplies are required. Tho cheese market has been steady throughout the month, but Canadians are offering their cheese forward at rather lower figures. There are fairly big stocks of old season's New Zealand still to be cleared, and, as a proportion of this cheese is not in first-class condition, it is causing a somewhat weaker market. • PRICES IN LONDON. BUTTER MARKET DULL. LONDON. Nov. 13. Tho butter market is dull. Danish is quoted at 140s; choicest salted New Zealand, 110s to 114s; Australian, 106s to 108s; unsalted New Zealand, 150s to 1545; Australian, 126s to 128s. The cheese market is quiet. New Zealand coloured is quoted at 70s; white, 725; Australian coloured, 67s to 68s; white, 70s. REPORTS OF MERCHANTS. Andrew Clement and Sons, Ltd., has received the following cablegram from its London house, dated November 13: — Butter dull; 110s to 112s. Cheese quiet; white, 735; coloured, 695. Joseph Nathan and Company, Ltd., has received tho following cablegram from its London agents: —Butter: Finest, 113s; first, 109s. Cheese: White, 735; coloured, 695. Both markets are quiet. Amalgamated Dairies, Ltd., has received the following market report from its London office: —Butter: Finest, 114s to 116s; market very quiet; some New Zealand first grade sold at 109s. Cheese: White, 73s to 745; market steady; cheese, coloured, 68s to 695; market quiet. W. W. Bowker has received the following cablegram from London : —The butter market is slow. New Zealand finest, 112s to 114s; firsts, 108s to 110s; stored, 2s to 4s less; Australian, 104s to 109s; Danish, 140s to 1425. The cheese market is q\net. New Zealand, white, 73s to 745; coloured, 68s to 70s; Canadian, white, 745; coloured, 78s. THE LONDON MARKETS. PRICES FOR METALS. SHARP RISE IN COPPER. (Received November 15, 12.45 a.m.) LONDON. Nov. 14. (Quotations on Nov. 10 in parentheses.) Copper.-—Spot, £49 6s 3d (£44 9s 4id); three months, £49 8s 9d (£44 9s 4£d). Electrolytic Copper.—Spot, £sl (£45 ss) ; three months, £52 (£46 ss). Wire Bars.—£s2 (£46 ss). Lead.—Spot, £l6 (£ls 10s); three months, £l6 2s 6d (£ls 12s 6d). Spelter.—Spot. £l4 18s 9d (£l4 13s, 9d) ; three months, £ls 10s (£ls ss). Tin.—Spot, £lls 2s 6d (£ll2 Is 3d); three months, £ll6 12s 6d (£ll3 6s 3d). Silver.—Standard, 16 11-16 d (16 11-16 d) per oz.; fine 17 7-8 d (18 l-16d). WHEAT, FLOUR, PULSE, ETC. Wheat Cargoes.—ln view of the phenomenal Russian shipments sellers maintain their position with difficulty. 2500 tons ex Fermie, 28s 6d for Italy. Parcels are unchanged. Futures: London, December, 24s 3d; February, 24s 6d; Liverpool, December and March, 5s 3 5-8 d per cental; May, 5s 4 5-Bd. The spot trade is quiet. Flour.—Easier; Australian ex store, 22s 6d to 23s 6d. Oats.—Easier. ' Peas and Beans.—Dull. Beet Sugar.—December, 5s l^d. EGGS. The eggs market is easier. Australian are quoted at 13s 9d to 16s. BRADFORD TOPS. The market has a quiet tone, but is firm, with quotations unchanged. STOCK SALES. rRrCES AT FEILIJING. [BY TKLEGBAPH. —PRESS .ASSOCIATION.] FEILDING, Friday. A drop in prices for fat sheep was recorded at the Feilding stock sale to-day. Ewes were down by 4s and hogge.ts by 3s. There were heavy yardings. Priniest fnt owes, shorn, made 15s 4d to 15s Od; good, 13s to 14s iod; fair, lis 3d to 12s; woolly fat owes, old, were at scarcely better prices. Tho shorn showed better Quality. Best woollios made to 17s 3d; good, 15s Id to las 4d; fat hoggets, priniest, 10s 9d to 19s 6d; good, 17s 9d to 18s: fair, 14s 6d to 16s 6d: fat black faces, good, to 17a 3d; twotooths, priniest, 20s 3d to 21» Od; good, 18s to 19s 6d; fair, 13b 10d to 15s. Store sheep: Two-tooth ewes, 17s 3d to 18s 3d; two-tooth wethers. 13s 7d; ewes with lambs, 16s 6d to 18s 6d; ewo hoggets, 15s 6d to 17s Id; fat forward ewes, 6s 9d to 9s Id. There were few lines of fat cattle. Bullocks made to 31s per 1001b; ctnvs and heifers, to 335. Storo Caltlo: Jersey cows, £2 10s to £4; Jersey yearling heifers, £4 10s to £5 ss; yearling Polled Angus steers, £5. There was only a small yarding of dairy stock. Heifers of inferior quality ranged from £6 to £9. VALUES AT PAPAKURA. With values on a par with late sales, an average yarding of dairy cattle met with a steady demand at tho stock sale at Papakura yesterday conducted by the New Zealand Loan and Mercantile Agency Co., Ltd. Best dairy cows and heifers realised £9 10s to £l2; other good cows and heifers, £5 to £8 15s; bulls, £3 10s to £7 7s; six Friesian heifers, 4Jgns to (ijgns. There was an improved demand for store cattle and the sale throughout displayed a betfer tone than of late. Prices ranged from £3 10s to £7 7s. Beef was yarded in average numbers, threo to three and a-hnlf-year-old steers making £7 to £8 15s; two to two and a-half-year steers, £5 to £6 17s Gd: one year to 18-iponth steers, £2 to £4 17s 6d; good fat cows, £6 to £8 15s; best yearling heifers, £4 to £5 ss; other yearling heifers, £1 15s to £3 15s. ■ A consignment of cattle from Waiheke Island met with a ready sale. BRIGHTER TONE AT WAIIJKU. At the Waiuku stock sale hold by Alfred Buckland and Sons, Ltd., yesterday an average yarding of all classes of cattle met with a. firm market, which showed a decidedly brighter tone. Good dairy cows made from £lO to £l2 10s and springing heifers. £9 to £ll 10s. A fair yarding of beef was made up mostly of light to medium-weight cows, which made from £7 to £9 10s. Old and boner cows brought £2 to £5. Freshconditioned four-year-old steers made £8 10s to £9; yearling Jersey heifers, £4 10s to £5 15s; Shorthorn heifers, £3 10s to £4. Canning bulls met with a better demand, best heavy sorts making from £6 10s to £8 8s; light, £3 10a to £5 10s.