COMMERCIAL

Poverty Bay Herald, Volume LXI, Issue 18546, 5 November 1934, Page 2

COMMERCIAL

ACTIVE BUTTER MARKET ■FINEST UP TO 74/- OWT. The activity in the butter market continues, and juices of New Zealand supblips invliftniion have improved a Inrtber #s pcrfpU't. on the quotations published on Thursday, the week’s business concluding with finest selling up to 745. Messrs. Joseph Nathan and Company report to-day ns follows: Butter: Finest 745, first grade 72s to 735; there is an active demand. Cheese: White and colored 53s 6r.l to 545; the market is firm.” . According to reports received l>y agents German buying is being continued and as the 'result of the absorption of large supplies of Swedish, Latvian and Danish butters through that channel, the arrivals of Continental ’butters on the British market arc substantially smaller. Undoubtedly this is the cause nl the improved inquiry now! existing for New Zealand and Australian, while the reduction in the quantity of Danish available in Britain has apparently resulted in considerably higher juices being paid by the large consuming public whose goodwill the Danes enjoy.

WOOL MARKETING

BELLING IN NEW ZEALAND WIDER BUYING POWER Crossbred wools are barely where they were at this time last year, and consequently very much lower than at tlie close of our last season, states Murray, Roberts and Company, Limited, in its wool circular. The outlook. is very obscure, and as owing to the lack of Continental support last London sales were curtailed, this coupled with heavy withdrawals has left a fairly large accumulation ol wool there, which, however, we hope may he absorbed during the Sept duller and November sales, before our selling season begins.

Fortunately the carry-over in Now Zealand is not nearly so large as formerly, possibly amounting to between (50,000 and 70,000 bales of greasy wool, but a strong and general trade revival will bo necessary to give a more healthy tone to the sales. Naturally it is anticipated that the Continental trade must sooner or later come into the market for supplies, but unless finance becomes easier, the quantity lifted seems likely to be smaller than in previous years.

Japanese competition, which was a strong factor in New Zealand sales last season, is expected to be continued, and possibly expand, arid it, will ‘be well to bear in mind that Japan’s requirements are now for the. better grade wools, well got up and skirted. In this connection the circular emphasises the importance of the competition at the New Zealand sales of Japan, Australia and local mills, which is not existent in London and which adds considerably to the buying power. In consequence there is a. better spread in tho demand than in London, with the resell that local prices are usually above London ■parity. Selling and storage charges are considerably cheaper in .Vow Zealand than in London, and if a sheep-fanner is considering shipping to London for a Inter sale in the hope of the market improving, the same result can he obtained by holding in Now Zealand (at. a. much lower cost), for the simple reason that any rise overseas is immediately reflected in the Dominion. Should the market fall, it is better to 'have the wool in New Zealand, where it can he held at a minimum cost compared with the heavy charges at the other end, which often force a sale at an inopportune time and with detrimental results to the owner.

OPOTIKI STOCK SALE Dalgety and Company held its monthly stock sale at Opotiki on Thursday, when there was a small yarding of cattle and sheep and a good yarding of pigs. The cattle were mostly of indifferent quality, values being at equal to late .rates. Medium fat Tolled Angus crnvs, £3 10s; light fat Jersey cows, £2 to £2 IQs; fresh young cows, £1 os to £l 15s; rough and boner cows, 10s to £L ss; yearling Jersey heifers, to 20s; smaller, to 20s; good service Jersey bulls, £3 to £3 10s; grade yearling to 18-month-old Jersey bulls, £1 10s to .04 17s 6d; others, 10s to £2; fat woolly hoggets, 2ls 3d ; broken-mouthed ewes and lambs, 13s. A good yarding of store and breeding pigs drew very keen competition. Well-bred maiden sows, close to farrowing, £3 3s to £3 11s; other sows, in pig, £2 2s to £2 11s;' store pigs, to £1 13s ; wenner pigs, 16s 6d to 18s.

N.Z. MEAT IN LONDON The Bank of Australasia has received the following cable message from its London effiee, dated November 1: ‘‘New 'Zealand lambs.—Stocks and arrivals are heavy for this time of year. Trade continues to be slow. The market has declined and there is a weak tendency. "New Zealand mutton.- For wethers trade is very slow, especially for lightweights, and values are weaker. Ewes show increased consumption at the present prices. "New Zealand beef.—There is a- good demancj, The market is steady, and no material change is expected,”