COMMERCIAL.

Southland Times, Issue 19224, 14 May 1921, Page 2

COMMERCIAL.

SOUTHLAND STOCK AND PRODUCE MARKETS. Times Office, Friday, May 13. There has not been much increase in stock business since last week. Yardifigs at recent sales have included large numbers of sheep, but few cattie. Butchers seem to be buying a fair amount of their fat cattle privately at about 35/- per 100 for extra prime stuff. There is still plenty of fat sheep coming forward, wethers selling at from 18/-. to 22/6. Lambs are bringing from 15A to 17/6. Store cattle are offering in small numbers and very few’ sales are being made, vendors’ and buyers’ ideas of value differing considerably. There is a fair demand for dairy cows coming to profit at from £lO to £l5. Store sheep are in poor demand, although there is still some inquiry for big wethers and breeding ewes. OATS—The market continues fairly firm and the price on trucks to farmers is about 2/2 for A grade Gartons and Sparrowbills, with. B grade a penny less. Specially heavy pimples of A’s would probably command slightly more. CHAFF—A considerable quantity ofchaff is offering, and merchants are*buying their requirements at about £3 15/- per ton, on trucks, country sidings. POTATOES—The market is easier. Purchases have been made at £3 10/- per ton, on trucks, country sidings.. RYEGRASS.—There is a little change in the market, prices running from 2/- to 2/6, according to weight and quality. In a few cases slightly higher prices have been paid for exceptionally clean and heavy samples. HEMP.—The market continues stagnant. Very few mills, are operating and there is practically no demand. WYNDHAM STOCK SALE. Messrs Wright, Stephenson and Co. report a small yarding of sheep and cattle. The yarding of sheep was comprised mostly of ewes, a big majority of these failing to reach the vendors’ reserves. We sold:—» Shjaep.—4o ewes at 10/-,. 22 2-,tooth wethers &t 9/-, 23 at 9/45 2-tooth ewes at 12/ 33 2-tooth wethers at 12/3, 9 fat wethers at’ 15/-, 16 fat Jhmbs at 21/3. Cattle—-Fat cow £4 2s 6d, 2 store cows at £1 10s, 1 at 20s.

Messrs Henderson and Co., report a small yarding of both sheep and cattle forward. There was a good attendance of buyers, and prices showed a slight improvement on late sales. We sold: 20 fat lambs at 23/-, 136 ewes at 19/-, 97 at 16/1, 3 rams at 19/-, 7 forward bullocks at £7 7s, 3 coils sheep netting 46/-, 3 at 40/-, 1 at 35/-. Messrs Hunter Bros, and Rice report:— Sheep.— A. small yarding forward, and prices were much on a par with recent sale rates. We sold: 31 lambs at 12/4, 3 rams at 10/-, 2 at 31/6, 1 at 21/-, 7 at 4/6. Cattle.—A small yarding, consisting principally of stores, which met a good demand, and prices showed a slight increase on those ruling of late. We sold: 3 fat steere af £8 10s, 3 at £9 17s 6d, 1 at £6 ss, 1 at £o, 2 cows at £2 14s, 7 steers £6, 11 at £3 Bs, 12 at £3 Fa, dairy cow £ll 10s. Pigs—l at 265, lat 20s, 12 at 15s. 8 fowls 245. The National. Mortgage and Agency Co., Ltd., report:— The weather was boisterous, and only a fair entry of stock came forward. Fat sheep and store .wethers showed eqpie improvement On last sale, but aged ewes were hard to sell, and many lots were passed. We sold: 152 2-tooth wethers at 13s, 199 at 13s 10d, 160 2-tooth ewes 12s 2d, 64 fat ewes 13s, 30 at 13s 6d, 143 2-tooth ewes 15s Bd, 75 aged ewes 7s 3d, 77 4 and 6-tooth ewes 18s. CANTERBURY MARKETS. (Per United Press Association.) CHRISTCHURCH, May 13. Oats continue to maintain their firmness, and inquiries considerably exceed the business offering. North Island purchases have been on hand for a month and a sudden shortage of supplies has presented itself. The mid-week quotations about cover the market, although the market is gradually finning, and in the absence of offers from farmers a further appreciation is probable. Within the past fortnight both Gartons and Algerians have appreciated by fully fid a bushel, and may now be quoted at 2/4 to 2/6 for A grade Gartons at country stations, and 2/2 to 2/4 for B grade and Algerians. Chaff has firmed in sympathy with oat:, and as reports from the North Island indicate a scarcity of stocks, a revival of this market is probable. Few potatoes are offering at the current quotations of £3 10/- per ton at country stations. Many crops are turning out disappointingly, and the prospective yield will be several tons per acre less than last year. LONDON MONEY MARKET. (By Telegraph.—Press Assn.—Copyright.) (Australian and N.Z. Cable Association.) LONDON, May 12. Consols, 47J. War loans, 5 per cent. 88, 3i per cent.. 87J. Commonwealth si’s 99J, Si’s 94i. Victorian 3i’s 87J, 3}’s 56£, 3i’e 63i. New South Wales 4’s 77J, 3’s 68. Queensland 4’s 90}, si’s 88}, 3’s 57}. New Zealand 4’s 84, 3}’s 71, 3’s 59}. South Australian 3}’s 69, 3's 50}. Tasmanian 3J’s 69}, 3’s 63}. West Australian 3}’s 72}, 3’s 67 . The short loan rate is 4} per cent.; three months’ bills, 5} per cent. FOREIGN EXCHANGE. LONDON, May 12. VALUE FOR £.

EXCHANGE ON NEW YORK. A BIG RECOVERY. NEW YORK, May 12. (Received May 13, 8 Demand sterling I bills on London have reached four dollars, the highest for twelve months. The money market has been further stimulated by the German acceptance of the ultimatum. French and Belgian francs made a gain overnight of t/enty points, the highest since the armistice. Guilders, marks and Scandinavian exchange rates are. also up. THE LONDON MARKETS. LONDON, May 12. Colonial butter is still neglected but Danish is slightly firmer at 194/- to 196/aa arrivals have been reduced. A fair quantity is going to Germany. Cheese is in fair demand. White New Zealand, 138/- to 140/- per cwt; Australian, 136/-; coloured New Zealand, 156/to 158/-; Australian, 154/-. Wheat is dull and inactive. Flour is quiet; Australian spot, 66/- to 67/-, ex store. Oats are rather easier; Australian, ex quay, 82/-. Barley is quiet and Australian is not offering. Peas and beane are quiet and unchanged. LONDON WOOL SALES. FURTHER ENHANCEMENT OF VALUES LONDON, May 12. The wool sales dosed with the B.A.W.R.A. catalogue. Buyers were in excellent attendance throughout, especially Continents. Competition steadily increased during the

sales for all descriptions, France and Belgium being helped by the appreciation of the franc. In Merinos the Continent was active, particularly France and Germany. Greasies. clothing, were 20 per cent, above April prices. The advance was most marked in broken pieces which were sometimes 25 per cent, higher. Average ecoureds were keenly competed for by the Continent, and advanced 15 par cent. Crossbred offerings were comparatively small. The Continent competed for fine medium at 10 to 15 per cent, advance. Low sorts are firm and were taken for the Home trade. Scoureds, chiefly Realisation Association, were frequently withdrawn owing to the high reserves. Slipes a poor selection generally, were withdrawn. A few lots of Merino lambs wool shared the general advance to the extent of 10 to 15 per cent. The quantity catalogued was 75,407 bales of which 8991 were New Zealand, and about 90 j?er cent, was sold. New Zealand “J.F.,” highest price IOAd, average 9sd. At Bradford 'there is better enquiry though actual business is small. Quotations are slightly harder. VICTORIAN MARKETS. MELBOURNE, May 13. At the hides sales large catalogues were offered. The market is firmer and values advanced a farthing. Barley, English, 4/- to 4/4i; Cape, 3/to 3/6. Oats, milling, 2/8; feeding, 2/5 to 2/7. Maize, 5/-. Potatoes, £4 to £5 10/-. Onions, £3 to £3 5/-. MELBOURNE WOOL SALES. COMPETITION KEENER. MELBOURNE, May 13. The wool sales have concluded. All sections operated freely and competition was keener than on the opening day, the market closing at the highest point of the senes. It is argued that if the present strong Continental bidding is sustained it will go far to ensure the clearing of much faulty wool that remains.

Paris (fr) Par. May 0. May 12. 25.22} 48.73 47.63 Montreal (dol.) 4.80 4.42 4.44 Christiania (kr.) 18.150 24.47 24.00 Stockholm (kr.) 18.150 16.99 16.86 New York (dol.) 4.87 3.98 J 3.99} Berlin (mark) 20.43 270 242} VALUE OF FOREIGN UNIT. Calcutta (rup.) 16d 153d 15}d Yokohama (yen) 14}d 29}d 29d Hongkong (dol.) 24»d 304d 30d