TRADE BALANCE

New Zealand Herald, Volume LXIX, Issue 21279, 5 September 1932, Page 5

TRADE BALANCE

BEST FOR TEN YEARS DECLINE IN IMPORTS The favourable trade balance for New Zealand for thi export year ended June 30, 1932, totalled £12,483,05)7, which has not been surpassed since 1922, when the favourable balance was over £13,500,000, according to a statement in the latest bulletin issued by the Department of Industries and Commerce. Exports declined in value by £1,398,404 to £35,546,573, whereas - imports fell by £10,310,200 to £23,063,476. The curtailment of imports, says the Bulletin, has had a beneficial effect, as it had .assisted in stimulating local manufacturing in certain directions by inducing the substitution of a demand for Dominion-made products in place of those made overseas. On the other hand, however, the volume of internal trade had diminished through the contraction of purchasing power consequent upon the fall in the price received for staple products. In addition, the reduction in imports had had a serious effect upon customs revenue. In view of the conditions under which trading had been carried out during the year, however, the position had to be regarded as satisfactory. During the year New Zealand exports to British countries totalled £33,222,995, &s against £33,935,368 in the previous year. Foreign countries took from New Zealand goods to the value of £2,323,578, as compared with £3,009,609 for the previous year. Exports to the United Kingdom totalled £31,548,927, the figure for the previous year being £31.558,016. Imports from British countries dropped from £23,438,289 to £16,171,1393, and those from foreign countries from £9,935,387 to £6,891,583. POLLED HEREFORD BULLS A SALE AT GISBORNE [BY JELEGBAPIl —PRESS ASSOCIATION] GISBORNE, Saturday At a sale of Polled Hereford bulls, the progeny of stock Recently imported from America, two of the-highest-priced animals were bought for Australia. The prices averaged 43 guineas and ranged to 60 guineas. This was the first sale of this class of stock held in New Zealand.

STOCK SALES MORRIN S VILLE QUOTATIONS The Farmers' Co-operative Auctioneering Company, Limited, reports that at the Morrinsville sale on Friday an extra heavy yarding of all classes of cattle came forward. A large entry of good beef, including several pens o£ ox, met with good competition and eold at prices in advance of Frankton rates. A number of pen 6 of prime young cow and heifer beef came forward and these were also in keen demand. Competition was keen for store cattle, especially for grown steers, of which there were a few pens of good quality cuttle. Yearling Jersey heifers also realised full late rates. A medium yarding of sheep sold at advanced prices. A irood yarding of dairy cattle came forward, consisting mainly of springing heifers. Well-grown hejfers, close to profit, met with good competition, but smaller and backward norts were dull of sale. More fat pigs were yarded and values advanced on baconers, while porkers remained firm. There was an extra large entry of stores and weaners, and prices on these became easier at the iind of the sale. Values were: Fat wethers, ISs 10d to 16s 9d; fat ewes, lis to lis Id; lighter fat ewes, 7s lOd to Bs;.fat hoggets, prime-, 12s Id to 14s; lighter, 9s 3d to 103 3d; store hoggets, 6s 7d; fat bullocks, heavy, £6 Os to £6 9s; medium, £5 13s to £5 193; light. '£3 12s to £4 18s; fat heifers, prime, £G 10s; light, £2 lis to £3 6s; heavy fat cows, £4 17s to £5 16s; medium, £3' 19s to £4 10s; light fat cows £2 10s to £3 Gs; killable cows, £1 5s to £2 sb; fresh store 8s to 17s 6d; four-year-old Shorthorn steers, fresh conditioned, £4 13s; three-year Foiled Angus steers, fresh conditioned, £4; empty Hereford cows, £1 15s; two-year-old empty Jersey heifers, £1 lis to £2 ?a; beßt yearling Jersey heifers, £2 15s to £3 10s; others,, £1 os to £2 7s; best Jersey heifers*,„£ 6 10s to £8; others, £5 to £G ss; backward and smaller heifers, £3 to £4 10s; Holstem heifers, £5 5s to £G; smaller, £3 5s to £4; sound dairy cows. £5 to £S ss; inferior sorts, 15s to £1 5s Pio-s: Heavy baconers, 39s to £2 3s; lighter, 32s to £36; heavy porkers, 28a to 30s; lighter porkers, 20s to 265; maiden lamworth sows, empty, 28s to 3Gs; eows due to farrow. 30s to £3 12s 6d: stores, 16s 6d to 22s 6d; slips, lis 6d to 15s ; good weaners, 103 to 13s; smaller weaners, 5s to 9s.

PUTARURU VALUES The Farmers' Co-operativu Auctioneering Company, Limited, reports having held its Put arilra stock sale on Friday, ■when only a medium yarding of cattle came forward. There was no alteration in values. There was a good entry of yearling; Jersey heifers, rnd these sold under keen competition. _ A few pens of sheep sold at late rates. Dairy cattle came forward in average numbers, but showed no alteration on late rates. There was n full yarding of pigs, with stores and weaners in good demand. Vs.lues were: For-ward-conditioned hoggets, 8s to 8s 6d: store hosgets. 5s 10d: empty store ewes, 3s 6d; killable cows, £2 2s to £2 9s; forward-condi-tioned cows, 30s to 38s: heavy boner cows, 18s to 265: other boner ccws, 6s to 14s: quality yearling Jersey heifers, £3 to £3 12s fid; yearling Jersey-cross heifers. £2 to £2 16s: other yearling Jersey ti.nd Jersey-cross heifers, 26s to 345; tivo-year-old Jersey and Jersey-cross heifers, 26s to 365; choice Jersey cows, £5 to £7; other dairy cows. 35s to £3; Jersey heifers, glose to profit, £4 15s to £5 15s; Jersey-cross heifers, close to profit. £4 5s to £5 ss; more backward heifers, £3 to £3 15s; poor and inferior heifers, 80s to £2 10s; store pigs, 16s to 20s; slips,- lis to J4s; weaners, 8s 6d to 10s; sows, duo to farrow, 30s to £2. OHAUPO AND WATNGARO Dalgety and Company. Limited, report having held the usual fortnightly stock sale at Oliniipo on Friday. There was a moderate yarding of stock, which met with good competition at full late rates. Values were: Prime fat cows, £5 12s to £7 Is; medium quality fat cows. £2 to £2 7s; empty Jersey cows, sound, £1 8s to £1 10s; yearling heifers, to £2 14s; boners, 10s to 15s; dairv cows and heifers, best, £5 15s to £7; small. £4 ss; aged ewes and lambs, 4a; empty ewes. 3s Id. , I>algety and Company, Limited, report hnving held the WaingaTo stock sale on Thursday, when there was a moderate yarding of stock. There was good competition for young store cattle and shorn two-tootns, which sold at full market rates Grown cattle were in only fair demand. \ allies were: 170 two-tooth mixed sex shorn hoggets, 8s 7d; yearling Polled Angus steers, 19s to 28s; heifer I '. 16s to If>s; fat cows, up to £5 15s, in-calf Hereford cows, in low condition. 265: inferior heifers, two-year. 18s; dairy cows. £3 15s; aged dairy cows, £2 ss.