MEAT FOR EXPORT.

New Zealand Herald, Volume LXIX, Issue 21142, 28 March 1932, Page 5

MEAT FOR EXPORT.

LAMB AND MUTTON SEASON. RECORD OUTPUT EXPECTED. AUCKLAND PROVINCE KILLINGS. A record output of frozen mutton and lamb from tlie Auckland Province is expected this year. The opinion is confidently expressed llint the number killed will touch tlie million mark. This season's climatic conditions have been exceptionally good for fat lamb nroduction. The carrying capacity of land has been greatly increased by more widespread uso of top-dressing and a certain amount of new land has been brought into production. However, activity in this direction has been somewhat restricted by the prices ruling for all produce from the land, resulting in a decreased return to (he farmer. Killings of fat lambs started early in November and there has been no decided check in tho supply to the works since that tirno.. Tho heaviest killings were in December and January and they wero fairly well sustained in February, owing to the dry weather making it necessary to get rid of some stock." There was a lull in the output immediately after tho dry "weather spell was broken, but later there was renewed activity and stock was sent to the works in improved condition. ' Down Cross Lambs. A feature of the season lias been the increase in Down Cross lambs, which have made a favourable impression on the Home - market. At present fairly considerable quantities of lamb and mutton are still being received at the works and also large -quantities of boner cattle. During tho past two weeks there lias been a slight increase in the export value of lamb, the London market showing an improved tone. Previously, prices were based on 4£d and then improved to At present prices have advanced to 5d on hooks mid 4d for second quality. There has been little variation in tho price of mutton, and sheep aro not offering in any appreciable numbers. 'lhis is'due to the fact that prices on the local market are still somewhat in advance of export values. In spite of the improved tone of the Homo market for mutton and lamb, it is not anticipated that there will be any marked rise in prices. However, tho increasing consumption in Great Britain is a very healthy factor. Boner and canrier cows, tho culls of the dairy holds in all parts of the province, are now engaging the attention of exporters. These are offering from all parts and are being killed fairly freely at low prices. Most of the business in boners is by sale to exporters. J here is not a great deal of the class of meat going forward on consignment. However, firms are prepared to buy boner cattle at the present price and even ox beef at a price. The ruling prices are 5s a 100 for cows and 10s for boner bulls over all. Prices for Prime Cattle.

Thorp is little movement in prime rattle and the pr;ces offering ft>r export are such that, very little advantage is being taken of 'them. Prices obtainable at, Wcstfield are slightly higher and"many farmers who can do so are carrying their stock in the hope of improved export or local prices. In spite of a slightly better demand for beef, no prospects can bo held in view of the large quantities shipped from the. Argentine. There is no encouragement for marketing quarter beef, although a small amount, came forward from the north during last week. 'J he trade has definitely been captured bv the Argentine, which has advantages in its chilled beef and nearness to the market. One outstanding factor about New Zealand's meat export, is the absolute dependency upon Britain for disposal of the output. * Now that the. exchange f* on has been settled, genuine relief is felt in nifiny quarters that the rate was not fixed at 20 per cent. Tt is stated that no cl eater blow could have been dealt to Britain, which takes all New Zealand's primary produce, than an additional duty of 20 per cent. Efforts to open markets for meat outside Croat. Britain have been attended with little success. However, shipments to the Wet Coast of Brita'n have been creator and it, arrears that, this market is developing rapidly. FOREIGN EXCHANGES. APPRECIATION" OF STERLING. . (Received March 27, 5.5 p.m.) British Wireless RUGBY, March 2G". The following rates on foreign exchanges were current on Thursday, compared with the. cabled quotations on March 22 and par:—

CUSTOMS EXCHANGE HATES. Rates of exchango ruling at the announced date of dp part ure of the vessels named are shown in the following (able. They are subject to confirmation by the Customs Department, when the exact time of departmc is learned on the arrival of the vessels in New Zealand, finally declined rates being marked*: — Wirrn'l, U.S.A., dollars .. .. U.4BJ Cruiser, Canada, dollars .. 3.04 Sydney Muni, Japan, yen . . . . '2'l.7f> H.iuraki, Canada. dollars -I.'JH WOOLWORTHS' RIGHTS. Woolworlhs (N.Z.), Ltd., advise thai as the Stock Exchanges are closed from March 24 to April 4, it has been decided to extend the time for receipt of applications and renunciations of "rights" to their preference shares until April 14. The original closing dale was March 31. CALL AND DIVIDEND LIST. Dividends— _ Due. I'likcmiro Collieries—interim, 2i p.o. . . . . . . . . Wed. British Tobacco—Quarterly, 1J p.e. Thurs. Beath and Co., Ltd.—interim, pref., 21 p.c..; ord., 4 p. 0,. .. Thurs. Dunlop Perdriau Rubber Co.— interim, pref., 5 p.c. . . . . Thurs. Bank of Australasia —final, 4 p.c. (subject to English income tax) Friday. Howard Smith —quarterly, cum pref.. 6 p.c. pa. . . . . Apl. 5 Kerupthorne-Prosser—final. 4 p.c. Apl. G Electrolytic Zinc, pref.—halfyear ended Dec. 31, 1930, 4 p.c. . . Apl. 14 Broken Hill South—3Bth. Is a share (payable in Melb.) . . Apl. 15 Timaru Brewery—final, 3J p.c. . . Apl.

Mar. 24. Mar. 22. Par. Montreal, dol. 4.18 4.075 4.806 Now York, dol. . ;s.75j 3.04 i 4.8(1(5 Paris, fr. 05.50 92; 124.21 Brussels, belgn, .. 2'1 13-16 2(1.125 35.00 Geneva, fr. 10 5-16 18.875 25.22 Amsterdam, fl. .. 0.205 9.05 12.10 Milan, lire 71.75 702 92.4(1 Berlin, r.m. 15.70 15.30 20.43 Stockholm, kr. .. 18.CO 18.50 18,151) Copenhagen, kr. . IS.15 IS.15 18.159 Oslo, kr. 18.70 18.75 18.159 Vienna, seh. 32 ' 32 34.585 Prnaue, kr. 12(1.50 123 104.-25 Hclsingfors, mark 215 215 129.23 Madrid, pes. 49.50 48 5-1 r> Oft .).)] Lisbon, escu. 100.75 . 100.75 110 Athens, dr. 295 287.50 375.00 Bnchtiroflt, lei, (l;!7.50 (110 813.fl Rio de Janeiro, mil. 41-1(1 4 1-1(1 5.89!)r! Buenos Aires, dol. 37? 38 5-10 47,(>19d Montevideo, dol. 30.50 30.50 51,1 Honilni.v. ru]iee . 1H 0-iM 18 5-32 18(1 'Hhanshai, tael . . 21.50 21 5-1(1 — 4 dol. . 1(1 15 J Vokolinmii, yen . 21.25 21 5-16 21.58d Bala via, fl. 9.IS 0.011 12.10 •Quotations on March 23.