COMMERCIAL

Southland Times, Issue 19656, 5 October 1922, Page 2

COMMERCIAL

THE BURNSIDE MARKET. (Per United Press Association.) DUNEDIN. October 4. There was a fairly large entry of fat cattle at the Burnside sales to-day. The fat pens included a number of good quality animals, but there were also many unfinished bullocks and heifers offered. Fat Cattle.—A total of 185 head were, offered. The sale opened under keen competition, and prices showed an advance of from £1 to £1 5/- per head as compared with last week’s rates. To-day’s values were on a basis of 30/- to 32/6 per 1001 b for prime ox beef, medium quality 28/to 30/-, prime heifer beef 27/6 to 28/6, prime cow beef to 25/-, medium quality to 28/-. Prime bullocks realised from £l2 10/- to £l3 10/-, medium £lO 10/- to £ll 10/-, light and unfinished sorts from £7

15/- to £8 10/-. Prime heifers and cows realised from £8 10/- to £9 10/-, medium £5 15/- to £6 10/- ; light and aged from £4 15/- upwards. Overfat cows were hard to quit. Fat Sheep—/\ total of 2196 were penned, the quality being up to the average. All were sold at prices about on a par with recent rates. Prime wether mutton was worth 4nd to 4jd, medium quality 4d to 4MI, prime ewe mutton 3.'d to 3jd, and medium quality 3d per lb. Extra prime heavyweight wethers realised up to 40/6, prime 28/- to 35/-, medium 24/- to 26/-, light and unfinished sorts from 18/- to 22/-. Extra prime heavyweight ewes realised up to 32/-, prime 22/- to 24/-, medium 18/- to 20/-, light and aged from 10/upwards. Spring Lambs—As a result of the keen competition for the fifteen offered the best lambi realised from 51/- to 59/-, and others from 30/- to 35/-. These prices are equal to quite 1/6 per lb. Store Catlie.—A lull yarding was offered. Bullocks of age and breeding were sold at a slight advance on last week’s prices, but cows, heifers and yearlings were hard to dispose of. One or two pens of three and four-year-old bullocks from the country districts realised up to £6 7/6 per head. Figs.—There was a large yarding, all classes being represented. Prices at the opening sales were on a par with last week’s rates, but the market weakened towards thc end of the sale. Baconers were sold at a reduction of about 10/-, and porkers at a reduction of about 15/- per head. Best baconcrs realised from 5d to 54d per lb, and best porkers from 7d to 7jd per lb. ADDINGTON MARKET. CHRISTCHURCH, October 4. To-day’s Addington market was exceptionally good for fat. sheep and store sheep, a shade easier for fat cattle, but much improved for store cattle. Store Sheep.—The smallest yarding for long time. Competition was keen, particularly for wethers, and prices generally were better than last week. Fairly good threequarter bred wether hoggets 15/4 to 16/11, halfbred 16/4, small 14/1, three-quarter bred ewe hoggets 18/7, good aged ewe and lambs 17/2 (all counted), ordinary aged ewes and iambs 13/- to 14/- (all counted), small 4,6, and 8-tooth halfbred ewes in lamb 26/1 to 26/6, cull 20/6, good 6 and 8-tooth halfbred wethers 23/3, ordinary 20/11 to 21/5. Spring Lambs.—234 were penned, compared with 102 last week. The fancy prices previously ruling were not. maintained, although prime lambs sold up to 1/- per lb. Values averaged 21/6 to 31/9, the bulk selling from 24/- to 27/-. Fat- Sheep—The yarding was slightly smaller than last week, but thc quality was particularly good. There was another jump in values of 3/- to 3/6 per head, making a 10/- rise over the past month. The keenness was maintained until the finish of the sale. Extra prime wethers 37/- to 41/-, a lew special to 46/6, prime wethers 32/6 to 36/6, medium 29/- to* 32/-, light 24/- to 28/6, extra prime ewes 39/9, prime 28/- to 31/-, ordinary 25/- to 27/-, prime hoggets 24/- (o 26/-, ordinary 20/- to 23/6. Fat Cattle—3o6 were yarded, including 82 from the North Island. The market was scarcely sc buoyant, particularly for big beef. Good beef averaged 32/- to 34/- per 1001 b, extra prime steers £l6 17/6, prime £l3 to £l4 15/-, medium £ll to £l2 17/6, light £7 to £lO 15/-, prime heifers £9 to £ll 2/6, medium £6 17/6 to £8 10/-, light £5 7/6 to £6 15/-, extra prime cows £l3, prime £8 to £lO 15/-. Vealers.—The market opened at about late rates, but prices eased towards the end by abotit 5/- per head. Runners sold to £4 12/-, vealers £3 5/-, small calves 6/- upwards. Store Cattle.—The recent rains having improved the feed prospects, there was much keener inquiry, especially for young steers and heifers. Three and four-year steers £4 10/- to £5 10/-, two-year £3 15/to £4 9/-, eighteen months £2 15/- to £3 5/-, yearling £1 15/- to £2 2/6, eighteen months to two-year heifers £2 15/- to £3 10/-, yearling £1 10/- to £2, good cows £2 15/- to £3 1/-, fair cows £1 10/- to £2. Dairy Cattle. —There was |a better demand for good sorts, and prices for these improved. Inferior cows and heifers were not. sought, after. Extra good second, third, and fourth calvers £l2 15/-, ordinary to good second, third, and fourth calvers £4 10/- to £B, aged springers £2 10/- to £4, good springing heifers to £7 15/-, medium springing heifers £3 to £6. Fat Pigs.—A good demand for choppers and porkers, but baconers met with a poor sale. Choppers £3 10/- to £5 10/-, light porkers £2 5/- to £2 10/-, heavy £2 12/6 to £3, average price per lb 74d to 84d; light baconers £3 3/- to £3 10/-, heavy £3 15/- to £4, average price per lb s}d to 6d. Store Pigs.—A spirited demand, especially for weaners. Good stores 40/- to 45/-, small stores 18/6 to 30/-, weaners 16/- to 22/-, sows (in pig) to £4 15/-. AUCKLAND STOCK EXCHANGE. AUCKLAND, October 4. Sales: Wai* Loan, 1938, £96; Soldiers’ Bonds, £99 2/6, £99; Bank of New Zealand, 55/-; Union Bank, £l3 2/6; New Zealand Insurance, 27/6; South British Insurance, 36/-; Auckland Gas, cont rib., 18/6; P. and 0., £290; Wilson's Cement, 19/10; Moanaftiiri, 2/11, 2/10; Waihi, 28/-. CHRISTCHURCH STOCK EXCHANGE. CHRISTCHURCH, October 4. Sales reported: Government 44, 1938, £96 2/6, £96 5/-; Bank of New South Wales, £35. BUTTER AND CHEESE. The New Zealand Loan & Mercantile Agency Co., Ltd., has received the following cablegram from its London house: New Zealand butter, 216/- to 220/- per cwt; cheese, 92/- to 96/- per cwt: markets steady. WHOLESALE PRICES FIRM. INTERNATIONAL SURVEY. SLOW UPWARD MOVEMENT. A general tendency toward firmer prices is shown by the Statist’s international survey of wholesale prices. In the United Kingdom, the peak was reached in April, 1920, when prices showed an increase of 213 per cent, over those of 1913. From that point, there was a decline, with only one slight check in July, 1921, till last February, when the average over all commodities was only 554 per cent, above the 1913 level. During the ffcllowing four months prices gradually rose till in June, the index number was 594 per cent, above the 1913 base. July showed a small reaction to 574 per cent, above 1913 rates.

In thfe United States, according to Bradstreet’s index, the peak was reduced in January, 1920, when prices were 126 per cent, above 19(3 rates. The lowest point was reached in May, 1920, when the in-

crease was only 15.3 per cent., and since then there has been an advance, with occasional reactions, to 31.4 per cent, above 1913 prices in June. Canadian prices reached the highest point—l 63 per cent, above the pre-war average—in May, 1920, and have fallen to 65.3 per cent, above 1913 rates, with a rise to 66.3 per cent, in July. The slump began in Japan, wholesale prices in April, 1920, being just threefold those of 1913, as against the increase of 2214 per cent, shown by the March index. Following a descent to 89.9 per cent, above 1913 by April, 1921, prices rose again to 119.2 per cent, over pre-war rates in Octoj ber, 1921, and have since fallen, the May j index, the latest available, being only 94.4 per cent, higher than the 1913 base. France reached the highest level in April, 1920, when wholesale prices were nearly sixfold those of 1913. Thc decline continued almost unbroken until February, 1922, since when there has been a gradual advance. Records from Italy, Sweden, Norway, Denmark, and Holland all show a slight hardening of prices in May, June, and July. HIGH COMMISSIONER’S REPORT. The Department of Agriculture has received the following cablegram, dated September 30, from the High Commissioner for New Zealand, London:— MEAT.—Mutton trade continues slow with no change in prices. Lamb market firmer. Supply exceeds th? demand for chilled beef, and prices have fluctuated considerably. Average for week: Fores 3{d, hinds 6d; to-day’s values are lower. Poor trade for New Zealand frozen beef, quotations nominal.

English retail prices arc as follows: Mutton.—English tegs. 1/9; loins, 1/10; shoulders, 1/8. Imported legs, lid; loins, lOd; shoulders, lOd. Lamb.—English legs, 2/-; loins, 2/-; shoulders, 1/10; imported legs, 1/6; loins, 1/ 3; shoulders, 1 /5. Beef.—English ribs and sirloin, 1/10; rump steak, 2/8; imported chilled ribs and sirloin, rump steak, 2/-; imported frozen ribs and sirloin, lOd; rump steak, 1/6. BUTTER.—Market is quiet generally and spot supplies short. Prices are firm. Official quotations are: — New Zealand (salted). —Sept. 30: 216/to 220/- per cwt (1/11 to 1/114 per lb). Sept. 23 and 16: 214/- to 218/- per cwt i (l/10q to 1/11] per lb). (Unsalted).Sept. 30: 226/- io 228/- per cwt (2/01 to 2/04 per lb). Sept. 23 and 16: 224/- per cwt (2/- per lb). Australian (salted). —Sept. 30, Sept. 23, Sept. 16: 204/- to 208/- per cwt (1/91 to 1/101 per lb). (Unsalted). —Sept. 30: 212/- to 216/- per cwt (1/101 to 1/11 per lb). Sept. 23: 216/- per cwt (1/11 per lb). Sept. 16: 212/- to 216/- per cwt (1/101 to 1/11 per lb). Argentine (unsalted). —Sept. 30, Sept. 23, Sept. 16:204/- to 212/- per cwt (1/91 to 1/101 per lb). Irish (salted). —Sept. $0: 190/- to 205/per cwt (1/8;| to 1/10 per lb). Sept. 23: 190/- to 200/- per cwt (1/8) to 1/9| per lb). Sept. 16: 198/- to 204/- per cwt (1/91 to 1/91 per lb). (Unsalted).— Sept. 30: 204/- to 212/- per cwt (1/91 to 1/101 per lb). Sept. 23; 206/- to 212/per cwt (1/10 to 1/101 per lb). Sept. 16: 212/- to 216/- per cwt (1/101 to 1/11 per lb). Danish.—Sept. 30: 224/- per cwt (2/per lb). Sept. 23: 220/- to 222/- per cwt (1/114 to 1/11.1 per lb). Sept. 16: 225/to 227/- per cwt 12/- to 2/01 per lb). French. —Sept. 30, Sept. 23: 214/- to 224/- per cwt (1/11 to 2/- per lb I. Sept. 16: 216/- to 226/- per cwt (1/11 to 2/0} per lb). CHEESE. —Market is quieter, but prices are firm. Official quotations are:— English; finest farmers’.—Sept. 30: 112/to 116/- per cwt (1/- to 1/04 per lb). Sept. 23: 110/- to 116?- per cwt (llld to 1/04 per lb). Sept. 16: 108/- to 112/- per cwt (114 d to 1/- per lb). Canadian.—Sept. 30: Coloured, 92/- to 94/- per cwt (lOd per lb); white, 93/- to 96/- per cwt (lOd to 10:}d per lb). Sept. 23: Coloured, 88/- to 94/- per cwt (94d to lOd per lb); white, 90/- to 96/- per cwt (9jd to 10Id per lb). Sept. 16: Coloured, 88/- to 92/- per cwt (94d to lOd per lb); white, 88/- to 94/- per cwt (94d to lOd ])cr lb). New Zealand. —Sept. 30: Coloured, 92/to 94/- per cwt (lOd per lb) ; white, 94/to 96/- per cwt (lOd to 10]d per lb). Sept. 23: Coloured, 90/- to 92/ - per cwt (9£d to lOd per lb I ; white, 94A to 96/per cwt (lOd to 10]d per lb). Sept. 16: Coloured, 88/. to 90/- per cwt (9|d to 9ifd per lb); to 94/- per cwt (9ijd to lOd per lb). Shipments of New Zealand produce arrived this week by s.s. Arawa and s.s. Port Chalmers. HEMP. —Manila market easier. “J” grade October-December shipments sold from £3l 15/- down to £3l 10/- per ton; “G” grade quoted at £34 per ton; “H” grade, £33 per ton; New Zealand market quiet. October-December shipments offered; high-points, £33 per ton; fair, £3l per ton. Fair quantity in secondhand offered at about 20/- per ton less. WOOL. —At Liverpool this week 33,500 bales of Australian and New Zealand 8.A.W.R.A., and 1500 bales New Zealand free were catalogued. With strong Home and Continental competition, all were cleared at prices fully equal to last London rates, with fine crossbred occasionally, dearer. EGGS.—Market firmer for best. Supply of cheaper sorts exceeds thc demand. Italian, Californian, South African, Irish, French, English, Dutch. 20/-, 27/-; Chinese, Lithuanian, 11/-, 17/6. ARGENTINE DAIRYING. COMPETITION WITH DOMINION. Thc possibility of thc Argentine Republic becoming a strong competitor with New Zealand in the production of butter, is revealed in a letter received this week by a well-known Auckland resident from a relative there. The writer states that business in live stock has been very bad for some time, and .that the heavy fall in prices has given the farmers a set-back, from which it will take them a long time to recover. “However, the position will be considerably easier this year,” he continues. “There will be three big diaries in running order 4his spring, each with eight milking machines, and the three milking a total of 600 cows. W'e had hoped to get two families out from New Zealand for two of these diaries, but have just had word to say they are unobtainable, so we are getting single men instead. These men will come over under agreement, and will get two-fifths of the cream, and an allowance per head on all calves and pigs. I am putting up a milking shed for two machines here, and will be milking about 30 cows for our own use and that of the men, also for butter for a friend and his family in Buenos Aires.” BERLIN EXCHANGE. (By Telegraph.—Press Assn.—Copyright). LONDON, October 3. Exchange on Berlin is 8300 marks to the £. It is reported that the selling of marks emanates from Germany itself.

N.Z. Mutton — Sept. 30. Sept. 23. Sept. 16. Lightweight 7 Jd-8d 7 }d-8d 7{d-8d Medium 6 ; ld-7 Id 6 id-7 Id GM-7Jd Heavy 6jd-6£d 6d-6|d Ewes dd-tid 5d-6d 5d-bd N.Z. LambBest quality Lightweight 1/-1/01 1/1 lid-1/-Medium 1/-1/0.C 1/- HJd-llM Heavy 10}d-103d lOid-lOfd lUd-lOid Ordinary and Second-class quality llfd lUd Hid N.Z. BeefOx fores 3Jd 3id 3Jd Chilled Beef— Fores 31 d 3Jd 4d Hinds Gd 7 Id 8d