LONDON WOOL SALES.

New Zealand Herald, Volume LXVII, Issue 20744, 11 December 1930, Page 11

LONDON WOOL SALES.

STEADY COMPETITION. LATE RATES MAINTAINED. ) LONDON. Dec. 9. At the London wool sales to-day 11,432 bales were. offered, including 3392 from New Zealand, and about 9000 were sold. There was a good offering of clip wools both greasy and .scoured, and a moderate supply of all New Zealand sorts. Steady competition ruled at late rates. Ne.v Zealand clips sold as follows: — " Maka " (top price), 8d average; "To Hda," and 7d; "To Kopae," 8d and 7id. . .. BUTTER FOR CANADA. AUSTRALIAN SHIPMENTS. TEMPORARY SUSPENSION. OTTAWA, Dec. 9. The Minister of' Trade and Commerce, Mr. 11. H. Stevens, has received a cablegram from Mr. F. M. Forde, Australian assistant Minister of Customs, slating that no further shipments of butter will be authorised, pending the conclusion of a conference between the Federal Minister of Markets, Mr. P. Moloney, and Mr. Stevens next week. From this it will be seen that the Australian Government is co-operating with the Canadian Government in the matter. It is hoped that at the conclusion of the conference with Mr. Moloney there, will be a satisfactory adjustment of the whole question. BOUNTY ON PRODUCT. REDUCTION IN NEW YEAR. (Received December 10, 8.5 p.m.) HOBART, Dec. 10. The Australian Butter Stabilisation Committee met at Launceston to-day to consider the payment of a bounty ou butler for 1931. The committee decided that, owing to the prolific production and. largely increased exports, there was no alternative but to reduce the export bounty to 3£d per lb. on butter, mauufactured after December 31. WAIKATO STOCK MARKET. DECLINE IN VALUES. THE CURRENT QUOTATIONS. Further .declines in. slock values have been noted Ibis week, and, although unpleasant to record, it is a satisfaction lo realise that w« are at last approaching export levels. I lie effect of this should be to provide a stabilised basis which may be used as n guidance in all transactions. Unfortunately there are many who are unwilling to recognise the controlling influence of this trade and who still imagine help may spring unexpectedly from sonic other source, but, the majority will fall in line, and —business should, ill consequence, receive the impetus it needs. Conditions as they affect the individual branches are as follows: BEEF. All grades continue to decline, a fairly heavy yarding at the central yards this week suffering rather severely. Prima medium : weight ox sold to 31s; heavy weights. 29?; plain quality, 27s Gd; prime heifers and young cows, to 25sr prime cow, 22s Gd; plain quality, 20s; boners, 15s to lGs. MUTTON. Mutton also suffered a further drop at the central yards, reaching a level which enabled export buyers to operate. This is the first occasion this season on which grown wethers have failed to advance beyond the limits of that schedule. Ewe mutton is rot plentiful, but the low value of wethers makeu the shortage a matter of little consequence. The highest figure recorded this week for prime wethers was 18s; lighler sheep, from lGs Gd: medium ewes, to lis 3d; others, from 8s; best lambs, to 19s 9d; smaller sorts, lis 9d; seconds and small, from "lis. FAT LAMBS. The export branch of this business ha« slackened considerably and it will probably be New Year before any acceleration is observed. The decline of I|d per lb. in value effectively st-jpped the rush for early shipment. This growers will endeavour to counter-balance by adding weight, and, with suitable weather, such as we are at present enjoying, much in the way of equalising may be achieved. STORE CATTLE.

Business in this ;branch is restricted and low values . are-general. Buyers for forward cattle are occasionally encountered but those in search of stores are extremely rate, although it would bo difficult to imagine a better investment than some lots which have been offered and which give promise of fleshy cows suitable for boning. All fall to export buyers, amoug whom there is fair competition. Yearling heifers (running, with bull) »ever appear "and are unlikely to have judgment passed upon them until the autumn, when attention generally centres in their direction. Forward steers sell up to £8; three-year steers, stores, A'G to £G 153; two-year, £i to £4 15s; yearlings, ±'2 to £3 ss; forward eows (young), to £4 10s; good stores. £2 15s to £3 ss; boners, best, to £3 10s; light, from £2 ss; aged cows, £1 5s to £1 15s. STORE SHEEP. The offerings in this section have been rather small, shearing, no doubt, being in part responsible. Wethers off shenrs are selling reasonably well when the price of mutton is considered. Their value from a wool-producing standpoint alone is not likely to be high, and on this account graziers may be expected to view them unfavourably. The position concerning breeding ewes ha« not altered, buyers appearing quite unconcerned as to the attitude of owners. Local sheep have not yet been quoted, although many lines had been disposed of at this date last year. It can but be hoped that quotations when they come to band will he tempting enough to make negotiation possible. Four-tooth wethers are worth 15s to lGs; two-tooth. 12s to 13s: Breeding ewes remain as quoted last weekr' 12s Gd to 14s, ex Gisbornc. dairy cattle. The demand is weak, although occasional good animals attract competition. It is noted that where a genuine dispersal sal® is called bidding is quit#" brisk and good averages aro obtained. PIGS. At the central yards this week competition for all classes improved, although baconers. after a good start, declined a little toward the conclusion. Heavy baconers sold up to £2 lGs; medium, from £2 9s: heavy porkers, to £2 8s; light weights, from £2: eood stores, 251s to 3fis; slips, -Horn 22s to 275; weaners, from 15s to 19s. PRICES FOR FAT .LAMBS. CHRISTCHURCII REDUCTION. [BY TELEGRAPH. —OWN CORRESPONDENT.] CHRISTCHURCH, "Wednesday. Freezing works rates for fat lambs asi anticipated dropped at Addington to-day, the best of tlie lambs for export being purchased on a basis of 6Jd a lb., as compared with 8d a lb. last week. Tho rates operating to-dav were. 6jjd for 28-321b. lambs, for overweights and for seconds. These prices, it was stated, will bo reduced by -Jd to-morrow. Rntchers also had amended ideas of value and brought, their limits back by about Id a lit. They were paying on a basis of 7d a lb. for the host of lambs and in some cases up to lho offering totalled 1600 head, the largest this season.