COMMERCIAL.

Oamaru Mail, Volume XXXVIII, Issue 10541, 24 August 1910, Page 6

COMMERCIAL.

CHRISTCHTJRCH MARKETS

(Per Press Association.). Christchurcli, Attgust 23.' . Business in the grain market has been of a very quiet description during the last few days. Wheat is still offering fairly freely, but it,is in a more or less damaged condition..A few growers, however, are willing to accept prices which will enable buyers to turn over the grain. The latter ~ point out. that even with the present low freights the London market is the only outlet, and can only be taken advantage of at a certain figure as there is,little demand for New Zealand damaged- grain, and as soon as the wool season op.ens in the North Island freights will rise. There would require to be a corresponding rise •in London prices to enable shipping business to be continued. This, however, is not anticipated, in the event of the crops in the Northern Hemisphere being successfully harvested. The free sale of Australian wheat is due to the fact that the grain is of exceptionally good quality this year, and is specially suitable for mixing with the softer English wheats now coming.on the market. Though the statistics of the late grain season are not reliable, the quantity exported so far is comparatively small, and there is evidently much more wheat in New Zealand; than-will be required before the next crop is available.

There is no change in tlie oats market, as the south still,continues:to supply the northern requirements at a lower rate than business can be done from here. •■ There is a good, demand for potatoes, and .growers will not*now accept less than £6 7s 6d. It is also reported that a few sales have been made as high as £6 10s, but a lower figure is what buyers are generally offering. WAIAIIEKA SALE.

The associated auctioneers report having held their usual' weekly sale yesterday, when a very small entry of stock came forward. <■ The attendance ' was smaller than usual but the demand throughout was good, and late ruling prices were well maintained. We quote: Sheep.—About 400 were yarded. wethers of medium quality made 17s, 6 and 8-tootli breeding ewes 20s, shorn hoggets (small) lis -2d to 13s 6d, do (mixed sexes) passed at 13s 6d. Cattle.—About 30, were yarded, being all stores of fair quality. Three-year steers £5 17s, 2-year steers £3 17s 6d, 18-montlis to 2-year steers and heifers £3 2s, bull £4, dairy cows to £6 ss, dairy heifers £3 10s, £3 12s to £3 15s.

JUNCTION YARDS. Messrs Bruce'Christie and' Co." report on their usual weekly stock sale, held at the Junction Yards yesterday, as under: There' was a good attendance, also a large yarding of stock. Cattle.—llo head were yarded. We ■ quote: 3 to o-year-old bullocks at £5 to £6 ss, 2-year-old steers £3 5s to £3 10s, 18-months-old steers and heifers 35s to 37s 6d, yearlings 20s to 255, ' calves 10s to 15s, bulls (potters) £2 5s to £2 10s, cows (potters) 30s to 355. . Dairy cattle were represented by 53 , head, a large number being aged and in low condition, and for which there ; is very little enquiry:". Best young cows (in good condition and coming to profit) sold at £8 to £9, .medium sorts of cows (coming to profit) '£6 to £6 10s, aged cows (cqming to profit) £4 os to £5 2s 6d. Cows in milk a few weeks are dii- ; ficult to sell, and only bring, store prices. . • t ~y, . Pigs.—ss were forward, and sold at about last week's rates. .Slip&isold at ■ ,17s, best weaners 10s 6d ta . : lls~ 6d, medium-sized weaners-7s fid to os, small weaners os 9d to 6s 9d. Prime baconers from 1201b to 1601b are wanted, and are ' worth 3Jd to 3ijd per lb, according to.' weights. ; .. . >

FROZEN MEAT MARKET, Messrs Gilbert Anderson and Co. report as follows oti the market, under date London, July lptli:— A fair volume of trade has been done on this market during the week. Supplies of fresh-killed < beef have been short with firmer prices. Fresh-killed mutton and lamb have further ■ . ad-: vanced in price. Heavy marketing of chilled beef and forced sales have > resulted in very low prices. Fores 2Jd, hinds 3id. Frozen heef with large supplies have further declined from id to Jd. The demoralisation of the beef market has affected the trade in mutton and lamb. • Steamers arriving carry large' cargoes. Many importers have been eager tb realise, and low pricss have been accepted. It is intimated that the price of chilled beef will be advanced next week. Mutton and lamb stocks in store are still light, and there are only arrivals to be dealt with. With light shipments tc follow the position should not be weak. The want of regulation of shipments is being severely felt. ; _ Smithfield market prices, July 16, 1910.: -

Mhtton—Canterbury, W. and M.E.: 48-56, 3fd,- 56-64, 3UI; 64-72, 3 5-16 Q. Southlands, W. and M.E.: 48-56, not quoted. Best North Island, W. and M.E.: 48-56, 3Vd; 56-64, 3|d; 64-72, 3 3-16 d. North Islands, W. and' M.E.: 48-56, 3|d; 56-64; 3Jd; 64-72, 3_ l-16d. Australians, W.. and M.E.: 40-50, 3d; 50-70, 2|d. Iliver Plate, W. and M.E.: 40-50, 3id; 50-70, 3Jd. Lamb—Canterbury : u-36, sd; 36-42,: 4 15-16 d; 42-50, 4£d.. Southlands: u-36, 4|d ; 36-42, .4 13-16 d ; 42-50, 4-gd , Best North Islands: u-36, 4|d; 36-42. 4 13-16 d; 42-50, 4fd. " North Islands?. u-36, 4fd; 36-42, 4 11-16 d; 42-50, 4Jd. Australians: Best, /4Jd; f.a.q., 4d. River Plate: 28-42 ! , not quoted; Beef—New Zealand: Fore's, 2|d; hinds, 3Jd. Australians: Fores, 2£d; hinds, 3d. River Plate: Fpres, 2id; hinds, 3d. ' ,

Under date London, July loth, the Colonial Consignment and Distributing Company, Ltd., report on the frozen meat market as follows: : ' New Zealand Mutton.—Although the receipts still fall short of last year's figures by 174,649 carcases, the arrivals during the past month have bden rather above the average and amount to 358,221 carcases. (The total supplies of mutton of course show a large excess on last year's figures, as the result of the heavy shipments from Australia.), These shipments arrived to a market with the demand as dull as possible, and great difficulty has been experienced in putting adequate quantities into consumption. The enormous output of' lambs moreover htis had a decided influence on the enquiry for mutton. Prices have naturally and quotations show a, fall of id per lb. Canterburvs make 3Jd pep- lb for light weights and other grades s&H-xJown I to 3jd per lb. The best North' island mutton can be bought at ,3-Jd per lb and heavy carcases at 3£d per lb. Ewes have changed hands down to 2Jd per lb. Australian Mutton. —The Australianexport continues active, and 456,209, carcases have come to hqiid in the fiveweeks. The. excess over last year's importations now amounts to 801,466 carcases. This heavy quantity rather ex-, •eeds the requirements of the situation, and prices have given way fully Ja, per Id, without furnishing any very active stimulus to the demand. The smallest carcases me.et with, the best request, and, as the cheapest of their kind, sell fairly well, but few make the top quotation of 3Jd per lb. Ewes are being sold at 2Jd per lb. Prices, however, are fully Jd per lb in advance of those ruling during the glut at this date last year.

Frozen Lamb.—The trade lias grown so accustomed this season to being dependent on recent arrivals and having small stocks in store, that the arrival in five weeks of 737,245 carcases from New Zealand, in addition to 103,522 carcases from Australia and 71,116 carcases from South America, has created a. feeling of weakness out of proportion to these quantities. -It should be pointed out that the total receipts are still 148,259 carcases below last year's figures, while the demand lias been and still is remarkably good, probably better than in any preceding season. It should also be stated that, although large shipments ai;e still . afloat, if colonial advices can be relied upon, the export will cease at an early date. It is rumored that- the weaker tone is largely due to financial pressure on speculators. The nett result is that prices for New Zealands are fd to id per lb lower than those ruling five weeks ago. Light Canterburys are worth ofd pet lb and are. the most in request. Medium weights are plentiful and dif- 1 ficulfc to sell at 5d to 5Jd per lb. Light I

North Islands are quoted at 5Jd per lb, and medium weights at 4|d to 5d per lb. The heaviest carcases are worth almost as much money as the medium weights. Australian lambs are not much in evidence, and sell at 4id to 4Jd per lb. Patagonian lambs are seen on provincial markets, and are worth 4£d to 4:,' d per lb. Frozen Beef.—The recent arrivals have been heavy, amounting to 312,277 quarters from all sources, hut the increase in the year's receipts is only 67,084 quarters. The quantities afloat however are very large, the June shipments alone reaching a total of 324,000 quarters. The market lias collapsed under the competition of plentiful supplies of chilled beef selling at low prices, and for the time being frozen beef is almost unsaleable. The fall in values from the extreme point touched at the beginning of June is about per lb on hinds and 2d per lb on fores, a fluctuation sufficient to disturb any operations. Hindquarters of all descriptions are quoted from 3d to 3£d per lb, and fores from 2Jd to 2id per lb,- but very little business is passing, and price's lirive a downward tendency. Plate beef is being freely offered in the provinces at the lower of these prices.