COMMERCIAL.

Southland Times, Issue 18857, 24 June 1920, Page 2

COMMERCIAL.

BURNSIDE MARKET. (Per United Press Association.) DUNEDIN, June 23. There were good yardings of all classes of stock at Burnside to-day, with the exception of store cattle, which was the smallest offering this season. Freezing buyers competed for all lines suitable for export. Fat Cattle.—There was a large yarding, a total of 246 head being ofiered lor sale. Ihe quality was from fair to medium. The demand was only fair and prices ruled 10/- per bead lower compared with last week’s rates. Prime bullocks sold from £22 to £25 15/-; medium, £l7 10/- to £2l; light and unfinished sorts from £l4 10/upwards; prime heifers sold from £l6 15/to £l9 12/6; medium, £l3 to £ls 15/-; light and aged from £9 10/- upwards. Store Cattle.—The smallest yarding offered for sale during the present season. The quality was not good, mostly comprising young and backward conditioned cattle. It was difficult to effect sales, and those which were sold realised barely last week’s rates. Sheep.—A good yarding, numbering 2510 head. The yarding was of medium quality, ewes of secondary class preponderating. The demand for all prime wethers and ewes was keen at an advance of 1/- a head above last week’s rates. Freezing representatives were keen buyers. Prime wethers realised from 45/- to 52/9; medium, 40/- to 44/6; fight and unfinished sorts from 31/- upwards; extra prime heavyweight ewes realised from 52/9 to 64/-; prime, 42/- to 48/6; medium, 32/- to 39/6; light and aged from 24/- upwards. Lambs. —There was a large yarding, numbering T/88 head. The majority lacked | finish. Competition was very keen for all prime lambs, resulting in one of the dearest sales which has taken place at Burnside for a long time past. Prime lambs realised 35/- to 44/-; medium, 26/- to 33/-; lighter sorts, 20/- upwards. Pigs.—A moderate yarding, but quite sufficient for requirements. There was a good demand and prices for all pigs suitable for killing were somewhat firmer than the late ruling rates. The best baconers realised 10Id to lid per lb, and the best porkers lOid to Hid per lb. ADDINGTON MARKET. CHRISTCHURCH, June 23. At the Addington market to-day the yardings of fat sheep, store sheep, and fat lambs were smaller than those of last week, but in fat cattle a greater number came forward. Store Sheep—There were a fair number of Southland and West Coast lines. The sale opened with a decidedly healthy tone, and a fair clearance was effected at last week’s rates. Good hoggets brought 17/6 to 25/-; inferior hoggets, 15/6 to 16/9; good two and four-tooth ewes, 32/-; four, six, and eight-tooth ewes, 26/- to 29/-; cull ewes, 12/6 to 16/6 ; two-tooth wethers, 23/- to 26/-; four, six, and eight-tooth wethers, 28/6 to 35/-; inferior four, six, and eighttooth wethers, 22/6 to 26/9. Fat Lambs.—The yarding was the smallest for several weeks, comprising 1450 compared with 1650 last week. Owing to the small entry there was a ready sale, and except for inferior stuff advanced prices were obtained. Freezing buyers again operated to a considerable extent. Extra prime iambs made 34/- to 37/-; prime lambs, 27/9 to 33/9; medium lambs, 25/to 27/3; light and unfinished, 19/6 to 24/6. Fat Sheep.—Competition was spirited throughout the sale, prices all round showing an advance. Freezing buyers obtained a good proportion of the entry. Extra prime wethers, 48/6 to 04/6; prime wethers, 40/- to 47/-; medium wethers, 30/6 to 39/3; lighter wethers, 32/6 to 34/-; extra prime ewes, 46/- to 55/-; prime ewes, 38/- to 45/3; medium ewes, 32/- to 37/-; light and unfinished ewes, 22/6 to 30/-. Fat Cattle.—High prices were realised for anything at all prime. For secondary quality the market was easier owing to oversupply. Extra prime steers sold to £33; medium steers, £l4 17/6 to £lB 17/6; fight and unfinished steers, £8 15/- to £l4 15/-; extra prime heifers, £24; prime heifers. £l3 10/- to £ls 15/-; fight and unfinished heifers, £7 10/- to £l2 10/-; prime cows, £l3 to £l7 2/6; ordinary cows, £8 15/- to £l2. Vealers.—Runners, £9 5/-; good vealers, £4 to £5 a/-; medium vealers, £3 8/-; small calves, 32/0 Store Cattle.—Ordinary cows sold to £8; three-year steers, £lO 5/-; heifers in calf, £9 2/6; bulls, £l3. Dairy Ctttle.—Springing heifers, £2O; second and third calves, £l2 to £25. Fat Pig;.—Choppers, £8 to £10; light baconers, £0 5/- to £7 10/-; heavy baconers, ii 15/- to £8 10/-, average price per lb, 10Jd to lid; light porkers, £4 to £4 15/-; heavy porkers, £5 to £5 15/-; average price pei lb, 1/1 to 1/2. THE DOMINION’S TRADE. PRODUCTION FOR EXPORT. An interesting feature in the annual address of the chairman of the Bank of New Zealand was a comparison of exports in the year 1914 with the average for the five years following, from which the conclusion was drawn that production in New Zealand has “suffered grievously” during the war period (says the Financial Editor of the Lyttelton Times). Although it is not so stated, the general impression given by these figures and the chairman’s comment thereon is that pastoral production in New Zealand has decreased during the war period. This, of course, is not the case. There have been increases in the volume of exports during the six years 1914 to 1919 in all the commodities mentioned by Mr Beauchamp, and in the case of frozen meat, butter and hemp the increase during the period was greater than that between the two six-year periods immediately preceding. In regard to wool, and in a lesser degree other commodities, the comparison would perhaps be more favourable to the war period if production for home consumption were included. The consumption of wool by local factories grew from an average of 5,796,0661b in 1908-13 to 6,221,1371b in 1914-18, an increase of 7.3 per cent. Mr Beauchamp’s choice of 1914 as the basis of a comparison with the average of succeeding years is hardly a fair one, as 1914 was a year in which the war-time demand for our commodities had begun, while shipping was not greatly disorganised. A fairer comparison can be made by taking the averages for six-year periods before and after 1914, and the following tables show , that production has increased, and that the rate of increase has not been very badly affected by war conditions: —

In the hold-over of wool in store at the close of 1919, 126,722,2321b were included in the 1914-19 period, as it ought to b© in a

comparison with periods in which shipping facilities were normal, the average will be raised to 215,086,2961b for 1914-19, and the increase over 1908-13 will be 11.8 per cent. Similarly, adding the 1919 hold-over of 2,107,672cwt of meat in store, the 1914-19 average is raised to 3,430,259cwt, and the increase over 1908-13 to 39.5 per cent. There was a hold-over of butter amounting to 105,868cwt, which brings the average for 1914-19 up to 391,657cwt, and the increase over 1908-13 to 19.8 per cent. PRICES OF COTTON GOODS. AN EXPORTER’S VIEWS. A correspondent, “H.R” who writes with some authority, has forwarded the following letter to the editor of the New Zealand Times; —A considerable quantity of manufactured goods come into this country from Canada. The enclosed extract is from a letter from a large factory, whose goods before the war and during the war were always able to compete successfully in the matter of price with similar goods, quality for quality, from any other country:—“l must first tell you that there is no such thing as counting on deliveries just now. The dullest mill, as the most important, has become so busy that one really cannot count on anything. Cotton .and steel are still the worst offenders. We have had four bad cotton crops in succession, until such as we use is not to be bought. Some people have paid as high as' 1.50 dollars (6s 8d) a pound for very small quantities of 1-3-16 cotton. Staple cotton mills have a fair stock of it, but you can see how they are averaging their purchases every day and constantly putting up the prices of their goods, taking advantage of the great scarcity of same. The United States mills have had troubles, including labour, of all sorts, with the result that not a single house has anything to sell. Conditions in a general way are far from being improved. Latest reports go to show that high prices have only now started and it is quoted on the boards that present prices will be 100 per cent higher before this time next year. TTie cause, of all this is the industrial unrest, the extreme demands, both in wages and working hours, and scarcity of both materials and labour. We are not, however, pessimistic as regards the future, but these extremely hard conditions make it impossible for any other but well-organised factories to carry on.” There is an impression abroad that prices are about to come down. The wish is father to the thought in all minds but the facts do not indicate such recession. In the matter of cotton goods, the very opposite seems more likely in the face of such a statement from such a source. If and when such 100 per cent, increase occurs it is to be hoped that the public will not be led to believe it is the retail draper profiteering, for he will be forced to accept less than a fair profit to market such goods, as in not a few cases he is already doing to-day, and has been doing before any anti-profiteering machinery was set up.

AVERAGE EXPORTS. Inc. per 1908-13. 1914-19. cent. Wool, lbs 183,373,083 193,965,924 ' 5.7 Meat, cwt. 2,458,328 3,078,981 25.2 Butter, cwt. 320,728 374,013 14.4 Cheese, cwt. 460,204 995,322 116.2 Tallow, cwt 452,623 498,813 10.2 Hides and skins (No.) . 309,342 404,665 30.8 Hemp, tons 19.411 26,671 37.4 RATE OF INCREASE IN SIX-YEAR PERIODS. 1908-13 1914-19 over 1902-7. over 1908-13, per cent. per cent. Wool . .. 18.8 6.7 Meat .. .. 17.9 25.2 Butter 8.4 14.4 Cheese .. 300.0 116.2 Hemp . .. 24.6* 37.4 ’Indicates decrease.