RATES AT ADDINGTON

New Zealand Herald, Volume LXXI, Issue 21934, 18 October 1934, Page 7

RATES AT ADDINGTON

LARGER ENTRIES RECEIVED MARKET GENERALLY FIRM - - i [BV TELEGRAPH —PEESS ASSOCIATION] CHRISTCHURCH. Wednesday Entries were much larger than usual at to-day's weekly market at Addingtou, but in both, the beef and mutton sections there was a keen sale. Store Sheep.—The entry was of indifferent quality and there was an easing tendency. Ewes and lambs, all counted, ranged from 8s to 14s 3d; ewe hoggets, to 25b 7d; wethers, to 25s 9d. Fat Sheep.—There was a heavy entry, with improvement for medium-weight, woolly and shorn ewes of Is 6d a head and light wethers to Is. Heavy-weights were firm at last week's prices. Extra heavy prime wethers, to 34s 7d'; heavy prime, 27a 6d to 30s; medium-weight, prime, 25s 6d to 27s 6d; ordinary, 23s to 255; light, to 22s (id; extra heavy prime ewes, to 28a 7d; heavy prime, 24a 6d to 275; medium-weight, prime, 23s to 25s Cd; ordinary, 21s to 22s 6d; light and aged, to 20s; prime shorn wethers, 22a 6d to 26a lOd; ordinary shorn. 18s 6d to 225; .prime shorn ewes, to 22s 4d; mediumweight shorn, 18s 6d to 20s; light shorn, 15s to 17s 6d. Fat Cattle.—A total of 465 was penned, including the first draft of 49 from the North Island. They averaged £l3 5s and the best local pens from £'l3 to £l4 4s. The market was firm at last week's rates. Best beef, 29s to 32s per 1001b; heavy, 26s to 28a (Id; ordinary 23s # to 25s 6d; rough, down to IBs; extra heavy prime steers, to £l4 17a (id; heavy prime, £ll 6s to £l3: medium-weight prime, £9 10s to £ll 15s; ordinary, £7 to £9; light, to £6 15s; extra prime wethers, to £lO 2s Gd; prime, £7 5s to £9; ordinary, £5 10s to £7; light, to £5 ss; extra prime cows, to £9 12s 6d: prime, £6 l£Ss to £9; ordinary, £5 5a to £6 10s; light and aged, £3 to £5. „ , , Store Cattle.—Forward and well-bred steers made to £7 16s; 18 months, to £2 6s. Fat Pigs.—There was an over-supply of heavy porkers and an easier sale. Choppers, 22s 6d to £3 18s 6d; baconers, 54s 6d to £3 10s 6d; average price per lb, 5Jd to sld; porkers, 32s to 42a 6d; average price per lb, sid to sjd. SYDNEY WOOL SALES PRICES FAVOUR SELLERS | FIRMNESS OF MARKET (Received October 17, 9.35 p.m.) SYDNEY, Oct. 17 At the Sydney wool sales to-day 10,913 bales were offered and 10,038 were sold. Also 2508 bales were sold privately. There was strong Japanese, Yorkshire and Continental competition and best descriptions of fleece and skirtings ruled distinctly in sellers' favour. All other sorts were firm. Greasy Merino sold to 15d for 28 bales from Scone. I

SMALLER FROZEN LAMBS DOUBTS AS TO WISDOM SMITHFIELD IMPORTER'S VIEW Whether the frozen meat exporters of' New Zealand would benefit from the cultivation of a smaller lamb, a development that has been freely advocated in certain quarters, is very open to question, in the opinion of Mr. A. V. White, a principal of the firm of Michie and White, meat importers and colonial agents, Smithfield, who is visiting the Dominion. Mr. White said in an interview with the Christchurch Press that New Zealand lamb was recognised by all connected with the frozen meat trade as without a rival on the market, and it was very doubtful whether the Dominion should sacrifice its reputation for quality in order to satisfy a brief seasonal demand for the smaller joint. "London, at least, looks for a good class of lamb from New Zealand," said Mr. White, "and I cannot possibly see how the Dominion can produce a lamb weighing 251b. or 261b., which is the weight required to satisfy the trade of small joints, and still maintain the present quality of its main export." He added that the demand for small joints occurred mostly in June, July #nd August. It was of such a nature, too, that even a small surplus of supply caused the prices to slump tremendously, as could be judged from the fact that with the slackening of demand in the winter there was a fall of ljd to 2d a pound. One of the most important developments in the next year or two be the chilled beef trade, said Mr. White. The general opinion svas that the present trade agreement between the United Kingdom and Argentina would not be renewed on the same terms and this would present great opportunities to the colonies. Australia, at least, was giving particular attention to it, and an view of the present unsatisfactory state of the butter market for New Zealand producers, the Dominion should do the same.

TRADE WITH BRITAIN

MOVEMENT IN ARGENTINA GREATER RECIPROCITY URGED A plea for greater reciprocity in trade with Great Britain has been made by important interests in Argentina. The Argentine Rural Society has issued a declaration signed by 50 bodies distributed throughout the country to the effect that they believe the present Argentine Government policy of strict reciprocity to bo the most efficient method to sustain international commerce. The declaration emphasises the fact that among all the countries that take Argentine products, Great Britain occupies the first place, thus showing that, in spite of Great Britain's strong economic nationalism, she still continues to be Argentina's best client. The declaration states that, in the opinion of the Rural Society and of the cosignatories to the declaration, the convention recently signed between the Argentine Government and the British Government aids and protects the mutual commerce between the two countries, and, in order to consolidate this, the declaration suggests that it requires the personal action of everyone directly interested in the welfare and prosperity of Argentine production. In conclusion, the declaration exhorts all farmers and producers, as well as every individual member of the population in Argentina, to show their faith in the reciprocity of friendly nations, and to give preference in their purchases of merchandise to those countries which are the best purchasers of Argentine production. The declaration derives importance from the fact that the society is probably the most influential body _ in Argentina. Its membership comprises all the largest firms and landowners, and it is supported by a large number of local institutions of the same charactor. ,

GOLD AND SILVER QUOTATIONS IN LONDON (Received October 17. 8.35 p.m.) LONDON, Oct. 16 Fine gold is quoted to-day at £7 2s 9Jd an oz., compared with £7 3s Id yesterday. * Silver is quoted at 24gd an oz. spot, and 25d forward, same as yesterday. The quotation for silver at per fine oz. is 26|d., same as yesterday.