PRICES FOR PRODUCE

New Zealand Herald, Volume LXXVII, Issue 23828, 2 December 1940, Page 3

PRICES FOR PRODUCE

GUARANTEE IN BRITAIN COMPETITION WITH DOMINIONS (Received December 1, 7.30 p.m.) LONDON, Nov. 30 The National Farmers'. Union received another generous concession from the Ministry of Agriculture when Mr. J'. S. Hudson, Minister of Agriculture, announced guaranteed prices for the duration of the war and one year afterward. Ho never, Dominion representatives in London say that this sugar-coating for the pili was delivered the same night as Mr. Hudson in a broadcast warned United Kingdom farmers that much more was expected of them in return for this security. The Farmers' Weekly, which is the most popular fanners' journal, says that Mr. Hudson's guarantee provided a measure of security which was previously absent, Now that the Government lias given abundant proof of its realisation that it must look to home farmers for feeding Britain, there can he no excuse for failing to make the maximum effort. Farmers will do their utmost to see their country and their! industry through the war. They are able to help as much in peace-time as in war. Other comment also shows that British farmers are hopeful of receiving sufficient Government assistance to compete with the Dominion and other imports of primary produce after the war. WOOL IN AMERICA DEFENCE REQUIREMENTS USING FOREIGN SUPPLIES WASHINGTON, Nov. 20 The Commerce Department, in an analysis of the wool requirements of United States defence, said the decision to permit the use of foreign wool was reassuring, but "it should be remembered that future requirements are expected to be smaller than current requirements." At present, it is necessary to piovido complete, initial equipment and also for the subsistence of reserves, while the future need will be for replacement only. Officials are of the opinion that the woollen industry will absorb the military purchase programme at slight inconvenience to civilian buyers. It is known that ample supplies from the current clip are available in the Southern Hemisphere. The present indications are that sufficient wool for all normal operations is available, but in the event of difficulties in supplies at reasonable prices the Defence Commission will not hesitate to act as it deems necessary. The Defence Supplies Corporation has extended until noon, December 9, the time in which proposals can be received for the insurance of Australian wool for shipment to the United States for a strategic reserve. It is said the insurance may be written in dollars or pounds sterling for the United States or British companies. Alternative proposals are also being requested, it is said, including war risk insurance.

COUNTRY STOCK SALES PIGS SELL WELL AT KAMO The North Auckland Farmers' Co-opera-tive, Limited, reports having held its sale at Kamo. There was an exceptionally heavy yarding of fat pigs and competition was very keen. Jersey rows. January calvers, £5 15s; two-year Jersey heifers, calving JanuaryFebruarv, £5 15.5; Shorthorn heifers. £6 15s; light fat cows, .£6 10s to £S; cows and calves, £6 10s to £7 16s; Jersey cows and calves. £5 14s; boner cows, £3 los to £4 2s 'id; two-year Hereford and Polled Angus steers, £6 4s to £6 7s; yearling Hereford steers, £4 13s; store cows, £4 10s to £5 oS, baconers, heavy, £4 os to £4 13s 6d; porkers, £3 5s (id to £.4 4s; store pigs, £2 los to £3 3s; flips, £1 10s to £1 17s. YARDING AT OTOROHANGA The New Zealand Loan and Mercantile Agency Company, Limited, reports having held its sale at Otorohanga, when competition was keen in all sections. Light shorn two-tooth wethers, 25s 3d to 265; medium Down ewes. £1 6s; small shorn two-tooth ewes, 265; small shorn store two-tooth wethers, £1; Polled Angus bullocks, £l2 3s; medium Jersey bullocks, £9 4s; light, £S; prime Jersey cows. £6 12s to £6' los; medium, £o 10i> to £o 14s; light, £5 4s to £5 6s; boner cows. £2 12s to £4 10s; two-year heifers and young sound cows, running" with bull, £4 ISs; yearling Jersey heifers, running with bull, £7 Is; potter bulls, £6 12s 6d to £8 Is; dairy cows, close to profit, £9 15s: baconers, £3 12s to £4 ss; butter milk pigs, £3 8s; large stores, 33s to 375; slips, 2oii; weaners, 16s 6<i to 2*2s. HIGH TAXATION LEVEL

"The increase of war taxation is to be accepted as sound and necessary, but there is dancer in making demands that cripple the ability of companies to strengthen their financial position so as to provide for essential needs and for development and extension of industry," stated Mr. J. H. Blackwell. chairman of directors;, at the annual meeting of the North Canterbury Sheepfarmers' Cooperative Freezing, Export and Agency Company. Limited, in Christchnrch. .He added that taxation now absorbs 12s l%d of each £1 of profits. SILVER AND TIN RATES (Received December 1, 5.5 p.m.) LONDON, Nov. 29 Silver is quoted at 22 7-Sd a standard ounce and 24 11-1 lid a fine ounce, against 23d and 24 13-16 d yesterday. Tin is a shade firmer. Spot: Buyers, £258 a ton; sellers. £258 ss. Forward: Buyers, £260 10s; sellers, £260 15s. LONDON COMMODITY LEVELS (Received December 1, 6.30 p.m.) LONDON. Not. 30 Friday's closing commodity prices were.Rubber: Parn, 13d per lb; plantation and smoked, llV B d. Cotton: Spot, 8.41 d per lb. Turpentine prices are nominal, but are believed to be about 66s per cwt. Stocks are still very limited.