COMMERCIAL

Poverty Bay Herald, Volume LIX, Issue 17916, 21 October 1932, Page 2

COMMERCIAL

NARROW PRICE MARGIN

WAIKATO STOCK MARKETS

Unless there is an improvement in fat ''stock values, it is feared in the Waikato that there may be a reaction in the store section, tor the margin between the two has been very narrow recently. Cumraenting on the position, tho Auckland Herald states: “It is recognised that current values for flrost classes are to the breeder quite inadequate, and it is folly to expect that they will indefinitely continue. It is equally true that to tlie grazier stock is not worth what it is realising to-day, unless an iniprotement in beef can be counted on. The question is how much longer can the strain in all sections be borne.” Beef, after a sharp deelinp last week, reacted slightly at the central yards, where ox beef gained. Is per lpQlbs., while cow and heifer beef maintained last week’s level. There was Slso better competition for yiutton. Fair yardings of store cattle are now in evidence, with competition fairly generous. A large yarding, mostly rough steers, were readily absorbed by a large gathering of buyers at the lollowing rates: —Grown steers, forward, £3 It* to £4 IQs; stores, £2 lbs to £5 15s: two-year steers, £1 15s to £2 Jos; Jcallings, £1 to £1 15s; calves, IDs to 15s: voting fresh cows, £2 to. £2 10s; stores, £1 5s to £1 15s; aged, 10s to 15s. Only small entries of store sheep have cope‘forward lately, and quotations ex paddock are difficult to procure. 4 here is for all lots offering an extremely strong demand, hoggets retaining chief popularity. Good lines of wethers ,ofif shears ■would attract many buyers, but it is unlikely that these will be available in quantity for another month or So. Small lines of ewes and lambs are selling .well, but more certain knowledge is ueeded. Prices are:—Ewo hoggets; woolly, 11s to 12s fid; wethers, 10a to 11s; shorn wether hoggets, 9s to 10s; small, 7s fid to 8s 6d; ewes with lambs at foot, 10s to 12s; inferior. 7s to 9s.

HASTINGS STOCK SALE

At the sale of fat stock at Stortford Lodge on .Wednesday, there was a good yarding of both cattle and sheen. Prices were easier than at previous sales, with a fair number of .passings. Following were the prices realised : Fat cows, £2 6s to £5 10s; fat heifers, £2 10s ,to £4 12s for extra heavy; fat bullocks, £5 to £5 10s and up to £6 6s for extra good ; vealers, £2 to £3; fat ewes, shorn, 4s 6d to 6s 9d, woolly 7s 6d ,to 8s; fat wethers, shorn 9s 6d to 10s 6d; spring lambs, 11s to 13s 4d; fat woolly hoggets, 8s lOd.

LONDON FROfcEN MEAT MARKET

Common, Shelton and Company are in receipt of the billowing information regarding the London frozen meat market:—“Prices for ppttojj and lamb are a little weaker owing to heavy supplies. The demand has been fair for the last three days. There are no of an improvement in the near future.”

The annual report of the directors of the South Otago Freezing Company states that the stock dealt with in the past season was as follows: —Sheep and lambs, 351,890; cattle, 2045. After making provision for depreciation atid transferripg £3700 to the reserve for income tax, the profit remaining, including the previous year’s balance, is £7624. The directors recommend the payment of a dividend at the rate of 7 per cent., which will absorb £4641. and that the balance of £2983 lie carried forward.

An underwriting surplus of £60,254 455, a decline of £15,134 11s 4d compared with the previous year, is disclosed In the accounts of the South (British Insurance Company for tho year ended August 31. The company’s income from Interest and rents is £4745 17s 6d lowe>at £132.907 iQs lOd. The dividend for the yerir of 2» ffd a share, which absorbs £137,552. is unchanged.

Figures supplied by the National Council of Wool Soiling Brokers of Australia give the average of the wool sold in the grease for all Australian eeutres fpr September at 8,870 per 3b., or £l2 0s 4d per bale, which compares with (i.?Bd per lb., or £9 As 3d per bale for September of last year.