LAMB EXPORT TRADE

New Zealand Herald, Volume LXIX, Issue 21315, 17 October 1932, Page 5

LAMB EXPORT TRADE

PROSPECTS FOR THE SEASON SUPPLIES SHOULD BE AMPLE GOOD PRODUCTION IN PROVINCE Preparations for the lamb export trade to Great Britain are now being made and buyers are busy in different parts of the province estimating the offerings for the season. Exporters will not actually come on tho market until the end of the present month, and it is expected that the killing season will commence in the first week in November. Spring lambs are coming forward more freely at the local markets and very fair values have been obtained at West field and other sales. Only local butchers have operated so far, but the demand has easily kept pace with tho supply. When heavier drafts come forward within the next few weeks shippers should be able to obtain their requirements at levels permitting of purchase for the London trade. Although it was previously the custom for exporters to announce prices at the Hawke's Bay Show held every year toward tho end of October, this practice was not followed last year, owing possibly to uncertainty in the trade. It is not known yet whether exporters will revert to the former practice or make announcements later, as happened last year. Many farmers regret tho apparent passing of what had become almost an institution in tho trade. Although prices for lamb on the London market ranged about lOd or 10£ d a lb. in 1930, they fell to about so far there has been no indication of any improvement this season. A distinct advantage of the low rates is the stimulus given to consumption, and it was this fact j which made possible the heavy increases I last year [n the imports of meat by j Britain. The trade representatives view j with some apprehension the largo flow of j bacon products to tho British market, but | it is not expected that tho lamb trade will j be affected. . To some extent less importance is now attached to securing the early market in | London. Last ]ear the level of prices im- j mediately prior to Christmas showed very j little rise in comparison with the rates . ruling in January. There is still a definite premium on light-weight lambs owing to ; an increasing retail demand for small ■ joints. Supplies of lambs should be as adequate as in previous seasons in the Auckland : Province. Although it is estimated that j the sheep .stocks o£ the Dominion have de- j creased there has been a good lambing season in the province. QUOTATIONS FOR WHEAT * ** r* LONDON AND LIVERPOOL MARKETS IN AMERICA \ LONDON, Oct. 14 Wheat.—Cargoes have improved on better Chinese demand. Parcels are in fair request, Australians selling at late rates. Futures: London, December, 23s 4d a quarter; February, 235; April, 23s 2d; Liverpool, October, 5s a cental; December, 5s 3 7-8 d; March, 5s 3d. CHICAGO, Oct. 15 Wheat.—December, cents a bushel; May, 53 7-8 cents; July 55 cents. The New York quotation for. cash is 55£ cents. CURRENT CROP YEAR RISE IN PRICES IMPROBABLE (Received October 16, 5.5 p.m.) LONDON, Oct. 15 Discussing tho wheat situation, the Economist says: —Although tho world's supplies in the current crop year can so far only be estimated, already it is clear that a permanent substantial rise in wheat prices is highly improbable. It is generally agreed that the production will at least bo equal to last year's. Further, although the carry-over, outl side Russia, at the end of the past season may have been about 50,000,000 to 100,000,000 bushels below the figure of a year ago, a large proportion of the stocks are concentrated in exporting countries. It is generally believed that Russia's exports will fall below the level of last season. The crops of tho chief Danubian countries have been a failure. These favourable factors, however, i are largely offset by tho large crops harvested in principal European importing countries. CANADA'S EXPORTS FARMERS WANT BONUS (Received October IG, 5.5 p.m.) OTTAWA, Oct. 15 Exports of Candiau wheat for the first half of the fiscal year ace greater both in quantity and quality than for the corresponding period last year. Exports totalled 103,698.022 bushels, valued at 60,917,590 dollars, compared with 93,235,249 bushels, valued at 55,816,555 dollars. A message from Calgary states that the United Farmers of Alberta are asking the Federal Government for a bonus of" I at least 5 cents a bushel on tho year's crops. NEW COMPANIES SOUTHERN REGISTRATIONS Tho following private companies have been registered in Southern centres: —• Ben. Dudfield, Limited, Gisborne, tailors, etc. Capital, £2OOO in £1 shares. Subscribers: B. G. Dudfield, 1900 shares; R. A. Dudfield, 100 shares. The Anglo Petroleum Oil Company, Limited, Wellington, importers and vendors of lubricating oils, greases and machinery oils of all kinds, etc. Capital, £2OOO in £1 shares. Subscribers: L. F. Wallis, 1999 shares; K. A. Wallis, 1 share. Robert Johnson and Sons. Limited, Wellington, indent and manufacturers' agents, etc. Capital, £2OOO in £1 shares. Subscribers: R. Johnson and Minnie Begg, 722 shares each; Sophia Johnson, 265 shares; R. S. Johnson, 161 shares; J. F. Johnson, 130 shares. REDUCTION OF CAPITAL Adams, Limited, Christchurch, has reduced its capital- from £45,000 in 9000 shares of £5 each to £27,000 in 900(1 shares of £3 each. Edward Collie, Limited, Wellington, has reduced its capital from £15,000 to £12,500 in £1 shares. COMPANIES WINDING UP Auckland Milling and Afforestation Co., Limited. R. K. Wylie, public accountant,liquidator. Bluestono Quarries, Limited. G. W. Hutchison, Auckland, liquidator. Caledonia Kuranui Moanataiari Consolidated Gold Mining Co., Limited, A. C. Wilkin, Auckland, solicitor, liquidator. New Zealand Co-operative Honey Producers' Association, Limited. C. D. Cooper, liquidator. Reid and Miller, Limited. J. A. Gentles, Auckland, public accountant, liquidator. J. A. E. Thomson, Limited. R. F. Percival, Auckland, liquidator. Whangarei Limestone Co., Limited. G. B. Hull, Wellington, public accountant, liquidator.