THE BEEF MARKET.

Otago Witness, Issue 3016, 3 January 1912, Page 24

THE BEEF MARKET.

HUGE AMERICAN COMBINE. LONDON, December 28. Details are published of an AmericanCanadian syndicate, with Mr Murdo M'Kenzie as president, to establish at San Paulo, in Brazil, the largest beef project in the world. Nine million aorete have been

acquired. It is intended to export chilled meat to Europe. The syndicate hopes ultimately to open the British and German markets to a trade in live, cattle. The syndicate will purchase at the outset the best strains of Herefords and Durhams to improve the South American stock.

COMM F.UCI All CABLEGRAMS. LONDON, December 28. Wheat: Two Australian cargoes have been sold at 35s 9d and 36s 9d. December 29.

The Bank of England returns show the stock of gold coin and bullion to be £31,732,000; reserve, £21,695,000; proportion of reserve to liabilities, 35.48. The notes in circulation total £29,193,000; public deposits, £16,331,000; other deposits, £44,792,000; Government securities, £15,271,000; and other securities, £41,914,000.

The bank rate of discount is 4 per cent.

Short loans are discounted at to 3| per cent., and three months’ bills as follows:—London, 5| per cent.; Paris, Sj per cent. ; Berlin, 4g per cent. Consols are quoted at £77.

Ihe following are the quotations for colonial Government stocks, compared with these ruling a week previous:

The wheat markets are quiet, but very steady, owing to renewed unfavourable reports as to weather and damage to the Argentina crop, which is estimated to have decreased from 6,000,000 to 5,000,000 tone. Dry weather is also urgently required in France. The sum of 36s is asked for Australian per sailer, December-January shipment, 36s 3d is asked for 13,000 quarters just shipped, 36s 4j,d has been bid for South Australian August shipment, 37s 9d to 38s has been paid for Australian landed, and 36s 3d for 10,000 quarters,, per sailer, December shipment. The flour market is steady, but inactive. Quotations: 25s 6d ex store, and 24« 6d, c % i.f., to arrive.

The oats market is firm. La Plata

(new crop)—December shipment, 17s 4jd ; January shipment, 16s 9d. The butter market generally is firmer. Danish, 132 s to 134 s ; choicest Australian, 126 s to 128 s; secondaries, 122 e to 124 s ; I choicest New Zealand, 130 s. The unsalted butter has been cleared. The cheese market is firm at 70s. The sugar market is firm. First marks, 16s lOd. The Bradford wool market has a holiday tone, but prices are unchanged. 1 vSilver is quoted at 26gd per oz. December 30. ! Copper: Spot, £62 10s; three months, £6O 12s 6d; electrolytic, £66. I Tin : Spot, £205; three months, £l9O. Lead, £ls 12s 6d. 1 The copra market is quiet. South Sea, in bags, nominally, £24. 1 Wheat: An Australian cargo lias been Bold at 36s 9d, and 5500 tons from three ports, January 16 shipment, have been sold at 76s 3d. Cotton; December-January shipment, 4.91£d. Hemp: December-January shipment, £2l ss. Jute: Decern her-Janu cry shipment, £2O 7.s 6d. Silver, 25 l-16d per bunco. December 31. | i' l ' ' : 'P: Canterbury, light, 4|cl; Southland, 4fld; North Island, 4d; best brands, 4a<l: New Zealand ewes, 3gd. Australian sheep: Light, Bid. S uth American sheep: Light,, 3jd; heavy, 3|d. Ewes, 31d. Rabbits: There is a small demand, though there are prospects of prices hardening. Other moats aro unchanged. LONDON SHARE MARKET. LONDON, December 27. Banks: Australasia, £lll to £113; New South Walee, £4l 10s to £42 10s; Now Zealand, £9 17s 6d to £lO 17s 6d; Melbourne Trams, £lO3. NEW SOUTH WALES EXPORTS. SYDNEY, January 1. The year has been prosperous, though less so than the years immediately prcood- | ing it. The following are some of the j principle exports compared with those for | the previous year: —Wool, 905,451 bales, as ; compared with 993,058 bales; tallow, 63,757 casks, as compared with 66,434 casks; copper, 2,822,170 ingots, as compared with 2,496,627 ingots; mutton, 1,343,337 carcases, as compared with 2,061,157 carcases; beef, 40,505 quarters, as compared with 49,304 quarters; wheat, 7,458,446 centals, as against 6,647,248 centals; butter, 603,180 boxes, as compared with 501,611 l>oxes; rabbits, 6,670,928 pairs, as against 7,851,724 pairs. OAMARU MARKETS. (From Our Own Correspondent.) OAMARU, December 30. Outside the sale of a email line of velvet wheat at 3s sid at a country station no business has been done in the grain market during the week. The stock market has been practically closed until after the New holidays.

The demand for all daises of stock is undiminished, and last week’s quotations still hold good. DUNEDIN MARKETS. WHOLESALE PRODUCE REPORTS. Lindsay and Columb. Princes strict south, report under date the 30th December; M teat per bushel. per to n best millin'; 3/10—4/0 Oaten chaff Medium do ... 3/0 Prime 85/o—oo/0 Fowls’ ... 3/0 —3/9 Medium 75/o—Bo/ Milling oats 3/0— 3/1 Ryegrass and clover Feed oats ... 2/11—3/0 hay * ... £O/0 Malt barley ... 4/9 Straw: Feed barley 3/I—3/0 Wheaten 37/6—42/6 Cape barley ... 4/0 Oaten... 45/0—47/d Maize 3/8 Onions, good 260/0--SBO/0 per ton. Rolled bacon ... 9Jd Jtlour, in 200’a ... 185/0 Side bacon ... 9d Flour, in 50’ - ...200/0 Smoked hams ... 101 Pollard 1( 0/ Cheese ... 6Jd —7d bran 95/ Good salt butter... lOd Oatmeal, in 25’s 270/0 ( recording to quality) Pearl barley .. 280/0 , Potatoes. —Market showing a decided decline. Sound, freshly-picked lots are inquired for at up to £1 5s to £1 10s, medium 1 and inferior difficult to sell. New potatoes in good demand. FARM AND DAIRY PRODUCE. Messrs Irvine and Stevenson, George street, report paying (or produce during the week ending the 30th December, as follows; Fresn eggs. Is Id doz I Separator uuuer, BJd Salt butler : not buying I per lo Fresh butter, good ordinary (in lib and jib prints), 9d to lid per lb. Pigs, 130 lb to 1601 b, 5Jd. Honey, 3Jd. Fowls, 3s to 3s 6d (boiling). Potatoes, £1 per ton. HIGH COMMISSIONER’S REPORT WELLINGTON, January 1. The High Commissioner cabled from London cn December 30: — Note. —quotations, unless otherwise specified, are average market prices on rpot. The mutton market is quiet, but steady and prices arc well maintained. Stocks of light'Canterbury, 4gd; North Island, 4d. The lamb market is very quiet, and Canterbury is quoted nominally at sd; New Zealand, other brands than Canterbury, 4i{d, Australian, 4§d; River Plate, 4d. The beef market is quiet, but steady. The New Zealand stock is exhausted. Hinds, 3£d; fores, 2gd. Tiie butler maiket was quite firm at the close of the sales. The lonic's shipment has been pretty well cleared, and buyers aro awaiting the arrival of the Turakina on Monday. Quotations: New Zealand, 131 s; ! Danish. 134-s; Australian, 1275; Argentine, 1 1255; Siberian (stock small), 1245. The cheese market is firm, with more inquiry. New Zealand, 70s to 71s per cwt; Canadian, 735. The hemp market is active, with a good demand, but quieter at the close. New Zealand food fair, £2l se; fair grade, £2O l£e; Manila hemp, fair current grade, £2l; January to March shipment, good fair, £2l ss; fair, £2O 10s; fair current Manila, £2l 10b. The output from Manila for the week was 26,000 bales. The cocksfoot market is firm, with an improved demand reported, that it appears probable larger _ quantities of Continental seed will be available next season. Danish is quoted at an average of 76s 6d per cwt. The wool market is quiet but firm. Current quotations for Bradford tppe are 365;

I low crossbreds, Is Id per lb; 40 r e low cross--1 breds, Is l^d; 44’s medium, Is l§d; 50’s half breds, Is SRI ; 56’s, quarterbreds, Is 7gd; 60’s merinos, 2s Id. SOUTHLAND MARKETS. (From Odr Own Correspondent.) INVERCARGILL, December 30. Oats.—The market for oats continues quiet owing to the holidays, and practically no business is being done. Quotations remain on the same basis as last week. Chaff. —The local market for chaff continues to bo very well supplied, and Invercargill merchants are not offering more than £3 15s to £4 on trucks at country sidings, and they are not anxious to buy even at these figures unices they have an assured outlet. At premit the storage accommodation in Invercargill is very limited owing to the demand for space to display wool, and for that reason the market remains very quiet. There is very little demand for export to the North Island, i and comparatively little business is being done owing to the infrequency of shipping . facilities from the Bluff. Potatoes. —The market for old potatoes is practically over, and there ic not a great deal doing even in new potatoes, the supplies of which are somewhat limited. New potatoes are being retailed in Invercargill at about 2d per lb. Hemp.—There has been a considerable rise in the London values of hemp during the last few dave, and offers of from £2O for fair up to £2l for good fair, c.i.f. and c.. London, have been received. This would! net millers from; £l6 for fair to £l7 for good fair on trucks at country sidings. At present the reason for 'the advance has not been disclosed, but possibly it may be found to have its origin in the diminished supplies of Manila hemp. Even at the present figures the outlook for the industry in the south is not too hopeful, as the above prices will barely cover the cost of production. In the North Island, where the flax areas are larger and more compact, these prices will enable them to mill with profit. Fowl Wheat.—-There is a fair demand for fowl wheat, which can bn sold at about 3s 8d per bushel, delivered at Invercargill, less commission.

New South Wales 4’s Dec. 22. ... 105 Dec. 29, 105 New South Wales 3i’s New South Wales 3’s ... 98i 98 i ... 87 87 Victorian 4’s ... 101 •101 Victorian 3’s ... 96i 96 i Victorian 3i’s ... 84i 84 A Queensland 4’s ... 1004 1004 Queensland Si’s ... 93 f 96 i Queensland 3’s ... 844 844 South Australian 3i’e ... 97 97 South Australian 3’s .. ... 60J, 80i New Zealand 4 {< ... 105 104g New Zealand 3i’,s ... . ... 964 865 96| New Zealand 3’s 864 Tasmanian 3i’s ... 964 96 A Tasmanian 3’s ... 85 85 West Australian 3i’s ... 954 954 West Australian 3’s ... 86 86