MEAT SEASON ENDS

New Zealand Herald, Volume LXXV, Issue 23157, 1 October 1938, Page 11

MEAT SEASON ENDS

LARGER SHIPMENTS MADE L/\MB RECORD PROBABLE CHILLED BEEF EXPANSION Increases in all classes of meatshipped from New Zealand, except frozen beef, and a record for lambs for the export season which closed yesterday, are indicated by figures issued by the New Zealand Meat Producers' Board for tho Hi months ended September 15. The number of lambs exported during the period to September 15 was 9,000,367, only 187,002 carcases short of last season's record of 9,187,369. With 135,988 carcases already loaded in vessels not departed from New Zealand, it is probable that a new record will be established. Exports »of chilled beef for the lli months' period 'at 234,646 quarters ; are already Avell in excess of the full total for last season of 201,105 quarters. Mutton shipments also are already 108,731 carcases above tho total of 1,800,570 carcases* for the whole of last season. Pork shipments to September 15 at 635,207 carcases were over 5000 more than those in a similar period , last year, and the past season's total of 667,104 carcases should be exceeded. Boneless beef shows a largo increase/ Exports for the ' lli months were 346,142 bags, against only 289,413 bags for tho whole of last season. Frozen beef shipments continue to decline steadily, 'Total exports from October 1, 1937, to September 15 in the past' two seasons are as follows: — 1037-38 1936-37 Lainb (carcases) . . 9,000,367 0,072,805 Mutton (carcases) 1,009,301 1,721,842 Chilled beef (quarters) 234,646 194,891 Frozen beef (quarters) 157,906 176,048 Pork (carcases} . . 635,207 630,197 Boneless beef (bags) . 346,142 283,890 Stocks in stores in New Zealand at September 15 were generally higher, fiorkera being the only class which was ower than last year. DOLLAR FLUCTUATIONS DEPRECIATION OF STERLING ■ .• RECOVERY FROM LOW POINT After having reached the lowest point for five years at 4.60 dollars the pound sterling continues to recover. The latest quotation is 4.75J, compared with the closing level on Wednesday of 4.71. . For some time the impression existed that sterling was over-valued in relation to the dollar, but the recent depreciation has been intensified by the crisis in Europe. The appreciation of the dollar has been the cause of some concern to importers and other purchasers of exchange. Some overseas shippers have withdrawn firm quotations, while in other cases fresh business is not being sought pending a clearer outlook in Europe. The cost of war risk insurance is another aspect which has to be taken into account jn costing goods. Prices of imported goods are not yet reflecting either the increase in dollar exchange or higher insurance, but a continuance of existing conditions will be liable to bring about rises. UNITED STATES ACTION TREASURY AID INDICATED i f NEW YORK, Sept. 29 The Secretly of the Treasury, Mr. H. Morgenthau, questioned whether the United States aided Britain in buying pounds during the critical period of the past few days, said the best answer was in the 15 cent improvement in sterling Bince Tuesday. FOREIGN EXCHANGE MARKET LATEST LONDON RATES ' British Wireless RUGBY, Sept. 29 The following rates on foreign exchanges are ourrent, compared with tho cabled quotations yesterday and par:—■ Sept, 29 Sept. 28 Par Montreal, dol. .. 4.83% 4.81% 4.866 New York, dol. 4.75% 4.71 4.86 Paris, fr. .. 178% 178'/,. 179.0Q Brussels, btilga.. 28.17% 27.801% 35.00 Geneva, fr. .. 21.10 21,16 25.22 Amsterdam, gr. 8.840% 8.77% 12.10 Milan, lire .. 90% 89 .92.00 Berlin, r.m. .. 11.92% 11.90% 20.43 Stockholm, kr... 19.40 19.39% 18.159. Copenhagen, kr. 22.40 22.40 j, 18.159 Oslo, kr. .. 19.90 19.90 18.159 Vienna, sch. .. 26%t 26%t 34.585 Prague, kr. .. 138 137 164.25 Helsingfora, mark 226% 226% 193.23, Madrid, pes. .. 55t 55t 25.221 Lisbon, escu. .. ' 110 110%, 110 Athens, dr. .. 547% 547% 375.00 Bucharest, 10i,.. 660 660 813.6 Rio do Janeiro, m. 3d ' 2 3 % ad 5.899 di Buenos Aires, pes. 18.89 18.50% 11.45 Montevideo, dol. 20% d 20d 51d Bombay, rupee.. 17fy l6 d 17 aO /„d* 18d Shanghai, a 01... B%d B%d Hongkong, dol. 15d 15d Yokohama, yen 14d 14d 24.58 d Batavia, gr. .. 8,90 8.90 12.10 Belgrade, din... 210 214 276.31 Warsaw, zloty.. 25.62 25.62 43.38 tNominal. 'Sellers. NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday, on a New Zealand currency basis, subject to alteration "without notice:— Selling: United Statas Canada T.T 3.74%, 3.80%# On demand .. 3.74% 3.80% Buying: On demand .. 3.85 a /i„ 3.91"/ i« Following are the latest rates for purchases and sales of foreign exchange quoted by the Bank of New South Wales,. Auckland. They are subject to alteration without notice:— To £1 N.Z. T.T, On Demand Currency Soiling Buying Soiling U.S.A., dol. .. 3.77-51 3.8790 3.7761 Canada, dol. .. 3.8216 3.9420 3.8250 Belgium, belga 22.408 22.987 22.413 ■Czecho'vakla, cr. 108.02 Denmark, kr. . 17.788 18.388 17.700 Finland, Fin. ms. 179.22 180.22 179.32 France, fr. .. 141.14 Germany, r.m. . 9.177 Greece, drachmas 425.04 Holland, fl. .. 0.982 7.342 0.044 Italy, lfre .. 71.73 Java fl. .. 0,082 7.277 6.984 Norway, kr. .. 15:814 10.328 15.817 Noumea, fr. .. 136.41 Papeeto, fr. ~ 130.81 Sweden, kr. .. 15.388 35.065 15.301 Swlioriand, fr. 16.754 17.369 10.756 N.Z. pence to— Chifoo, dol. . . Nominal Hongkong, dol. no 0-64 38 7-64 19 9-64 India, rupee .. 22% 2129-32 22% Ceylon, rupee . 22% 2129-32 22% Japan, yon .. 17 49-64 Manila, peso . 32 3-32 30% 32 3-32 Shanghai, dol. Nominal Singapore, dol. 3511-04 33 29-32 3511-64 The cost in New Zealand currency of the pound sterling, and of tho principal overseas units, ori the latest quotations, is as follows:Present Price Par 8 d 8 >d London, pound ~ 24 10.65 20 0.00 Australia, pound .. 30 11.40 20 0.00 Fiji, pound . .. 22 5.06 20 0.00 New York, dollar <. 5 2.74 4 1.31 Montreal, dollar .. 5 1.83 4 1.31 Paris, franc . ... 0 1.G7 0 1-34 Borlin. reichßmark .. 2 1.03 0 11.74 Copenhagen, krono... 1 1.32 1 1.2Yokohama, yen .. 1 5.41 2 0.58 CUSTOMS EXCHANGE RATES Finally declared rates of exchange ruling at the date of departure of vessels named are shown in the following table: — lvozan Maru, Japan, yen .. 14d Naumburg, America, dollars .. .. 4.86 Temple Moat. Canada, dollars .. 4.80 Temple Moat, America, dollars .. 4.86 City of Glasgow, Canada, dollars .. 4.86 City of Glasgow, America, dollar« 4.88 Mariposa. America, dollars .. .. 4.79 Mariposa, Canada, dollars .. .. 4.85