COMMERCIAL

Southland Times, Issue 18930, 2 May 1923, Page 2

COMMERCIAL

WALLACETOWN SALE, A HEAVY YARDING. Excellent weather was experienced for the fortnightly stock sale at Wallacetown. There was a fair attendance. The following was the yarding, and that of the previous sale:— May 1. April 17. Store cattle 253 171 Fat cattle 209' 181 Store sheep 1374 1276 Fat sheep 1075 500 There were 47 dairy cattle yarded, compared with 35 at last sale. The store cattle market was on a par with that at. last sale. The best price paid was £l2 15/- for a good Jersey cow. Good sorts went at from £5 10/- to £B, but lower grades were hard to sell. There was also an inevrease in the fat cattle, and the sale dragged. Extra prime stuff made up to 24/- per hundred, but ordinary beef was being quoted at from 20/to 22/-. Cow beef prices ranged from 12/to 15/- and heifer from 15/- to 18/-. There was an increase in the store sheep yarding, prices being about on a par with last sales. The fat sheep market opened at an improvement of 3/- on last day’s prices, but declined in the later stages. GRAIN AND PRODUCE REPORT. Messrs Dalgety & Co., Ltd., report as follows: Gate.—This market shows no sign of improvement, and prices are unchanged. We quote: A Gartons, 2/10; B Gartons, 2/8; undergrade from 2/- per bushel; sacks extra. Wheat. —Prices payable to farmers are as follows:—Tuscan, 5/1; Hunters, 5/3; Velvet, 5/5 per bushel, f.0.b., nearest port; sacks extra. Fowl Wheat.—Prices are unchanged, and we quote up to 4/- per bushel; sacks extra. Potatoes.—Supplies have blen very short, and best tables are realising £8 to £8 5/per ton. Chaff.—The demand for prime heavy oatensheaf chaff is fairly good, but light and discoloured lines are duller of sale. We quote: Prime Oatensheaf, £4 15/- to £5; good to best feed, £4 5/- to £4 10/-; inferior from £2 15/- per ton; sacks extra. CHEESE. THE SEASON’S PRICES. The following are prices obtained for cheese on consignment this season from the South Island through the New Zealand Produce Association, Ltd., London: — White. Coloured, cwt. cwt. Paparoa .. .. 121/- 121/6 * Waimana 127/- 126/Durham .. .. 125/- 126/Middlesex .. 127/- 130/Matakana .. 127/- ' 129/Rimutaka .. 132/- 134/lonic 138/- 141/Kent 145/- 147/6 Suffolk .. .. 146/- 149/OAMARU MARKETS. OAMARU, April 28. Wet weather this week has interrupted the threshing of grain, which, however, is now nearing its close. But the rain was highly welcome, for the country was very dry—so dry and hard, indeed, that ploughing of lea land was practically impossible. The good accretion of moisture will not only enable ploughing to be proceeded with, but it. Avil! give.-a good start to catch crops soWh on stubble land to provide green feed for winter and early spring. The grain and produce market has experienced a quiet week. As millers generally are well stocked with wheat business in that cereal of milling quality has been limited to a number of modest lines at full current rates. There has been no movement in fowl wheat. The oats market is weaker, with very little disposition on the part of the merchants to buy in the absence of outside in-

quiries. On the other hand, holders in the country are not inclined to sell and entertain a hope that prices will improve. For a line of good A grade Gartons equal to 2/101 net was given at a country station, but other sales have been made at 2/9. Business has been done in B Gartons at 2/7 and 2/8 net, at country stations. There has been a hardening in potatoes, sales of table Up-to-Dates being reported at £5 15/-, £6, and £6 5/- net, on trucks, according to quality. Nothing has been done in the way of shipment, and it is doubtful if any business of that description will be possible here this season. The stock market has been somewhat quiet outside of the saleyards. The yarding of sheep at the weekly market sale was smaller than for several weeks past, and fcr the most part it consisted of breeding ewes, which sold fairly well. A line of 200 fourtooth ewes realised 33/3, and about the same number of six-tooth sold at from 32/6 to 32/10, while failing-mouthed brought 18/9. There were a couple of decent lines of wethers, but offers of 23/- and 24/6 did not reach the vendors’ reserves. Rape lambs were disposed of at 22/3. At the Duntroon yards a couple of days later there was a very satisfactory sale, though the bidding lacked the spirit of a fortnight previously. Good breeding ewes brought substantial prices, as follows:—Two-tooth, 30/- to 34/-; mixed four, six, and eight-tooth, 26/- to 28/9; sound-mouthed, 22/6 to 25/-; full and failing-mouthed, 17/6 to 21/-. At this sale store lambs realised from 21/- to 22/7, and halfbred hill lambs 16/6. Sales by private treaty have been effected at the following prices:—Mixed four and six-tooth ewes, 36/-; four, six, and eight-tooth ewes, 29/-; four and five-year-old Corriedale ewes, 21/6; full and failing-mouthed ewes, 19/-; four-tooth store wethers, 20/-; rape lambs, 23/6 and 24/-; hill lambs, 20/6. Most of a limited amount of business in fat sheep and lambs has been done under the hammer, the prices realised being as follow:—Wethers, 23/6 to 27/6; ewes, 17/- to 19/-; lambs, 27/- to 31/6. In connection with the sheep market it may be mentioned that Mr J. G. A. Ruddenklau has disposed of the whole of his stud Corriedales, the prices realised being as follow: —Ram, Bgns; 145 ewes, 2igns; ram lamb, 24gns, ewe lambs, 2gns.

There continues to be a slow movement in cattle. Under the hammer sales have been made of medium-weight steers at £5 to £5 2/6 and ccws at from £3 2/6 to £4 11/-. Dairy cows have been disposed of at from £5 5/- to £6, and three-year-old heifers coming to profit at from £7 to £7 7/6. Sales of cattle by private treaty have been at the following prices:—Fat bullocks, in a line, £ll 2/6; three-year-old store steers, £4 10/- to £5 10/-; two-year-old steers, £3 to £3 10/-; mixed-sex yearlings, £1 10/-; calves, 15/- and 17/6. A few dairy cows have been handled at from £6 to £8 for cows coming to prefit, £5 to £6 for winter calvers, and £3 to £5 for spring cafvers. THE “BAWRA” DISTRIBUTION. Apparently some of the “Bawra” refund of capital—£6,ooo,ooo—is finding its way upon the market, as very firm prices existed yesterday for all Commonwealth securities (says the Melbourne Argus of April 17). The first payment by the association was 47.5 per cent, of the face value of its issue of priority certificates on July 30, 1921. The balance of 52.5 per cent, on such certificates was paid on May 18, 1922, and with the refund of capital just disbursed makes £16,000,000 that has gone to primary producers since July 30, 1921, The benefit, of these payments to growers has been immense. That just received, when coupled with the prices obtained for wool during the current season, will enable the pastoralist to bear with much greater ease than otherwise would have been the case any loses he may have to face through dry I weather. Where, however, the greatest gain I

has been scored has been from the retention in the hands of an organisation like “Bawra” of the war carry-over wool. Had it been sold, as Bradford demanded, the Australian grower would not. have received such sums as have gone to him as a consequence of the way in which the wool has been handled by the directors of “Bawra.” The improvement in the price of crossbreds since November has materially assisted growers of that class of wool who previously had not been able to share to any appreciable extent in the better market conditions ruling for other wool.

BUTTER REDUCED. (Per United Press Association). i CHRISTCHURCH, May 1. ' The price of butter in Christchurch was i reduced to-day by a penny per pound, the 1 wholesale price now being 1/7 and the retail i price 1/9. i STOCK EXCHANGES ' CHRISTCHURCH, May 1. Sales reported:—Government 4i, 1938, 1 £97 12/6; Goldsbrough Mort, £2 7/-; Bank of New South Wales, £3B 10/-. Sales on ’Change: Bank of New South Wales, £3B 10/-; Bank of New Zealand, £3 0/6; Union ! Bank, £l4 9/-; Canterbury Frozen Meat, £l5 10/-; Bawra, 16/-. AUCKLAND, May 1. Sales:—War Loan, 1939, £97 7/6; New Zealand Inscribed, 1938, £97 7/6; Soldiers’ Bonds, £lOl 5/-; Bank of New Zealand, 60/-, 60/3; Insurances —National, 80/-; New Zealand, 29/3; South British, 37/9; Taupiri Coal, 22/-; Abraham Williams

(pref.), 90/-; New Zealand Drug, 63/-; Newton King, 12/6; New Waiotahi, 1/3. CANTERBURY MARKETS. CHRISTCHURCH, May 1. There has been no expediting of wheat purchasing by millers, and growers who are not in a position to hold on have a difficulty in placing their produce. Peas are still making high prices. The recent stiffening of the Home markets forced our sellers to operate, and quite an amount of business has been done at 6/9 at country stations. Linseed is very firm at 16/- to 16/10 per ton. General classes of seeds, such as white and red clover, cocksfoot and ryegrass, are very quiet. Sales of white clover at 1/- and red at lOd are reported, the latter for a particularly good quality parcel. 'From B|d to covers quotations. Oats are unchanged. There is a general belief that chaff will improve. The giving out of turnip crops and the general scarcity of feed are likely to divert attention to chaff. Recent quotations are £4 5/- to £4 10/- at country stations. Potatoes are still on the upward trend. Due to some extent to Dunedin and Invercargill demands for South Canterbury tubers, mid and North Canterbury are left to supply Auckland requirements. To-day’s value is £4 10/- to £4 15/- for whites and Dakotas for prompt delivery, and 5/- less for f.a.q.’s. Up to £5 is reported to, have been paid for the end of the month; METAL MARKETS. (By Telegraph—Press Assn.—Copyright.) LONDON, April 30. (Received May 1, 9.50 p.m.) Copper—Spot, £7O 11/3; forward, £7l 8/9. Lead.—Spot, £25 15/-; forward, £26. Spelter.—-Spot, £32 5/-; forward, £32 7/6. Tin. —Spot, £2lO 17/6; forward, £2lO 17/6. Silver—33 3-16 d per standard ounce.