COMMERCIAL

Southland Times, Issue 19291, 9 July 1924, Page 2

COMMERCIAL

WALLACETOWN SALE. LIVE STOCK MARKET. The fortnightly market at Wallacetown conducted by the Southland Stock Agents was held yesterday in unfavourable weather, but notwithstanding there was a large attendance of interested graziers and buyers. The yarding showed a big fallingoff on those of recent sales. The figures are as follows: June 10. June 24. July 8. Store cattle .. 257 207 121 Fat cattle .. 258 232 187 Store sheep .. 458 255 51 Fat sheep .. 1437 584 857 Twenty-five dairy cows were yarded. FAT SHEEP.—The yarding was smaller in numbers than those of the past two markets. The quality in fat sheep was good, but only a few lines of heavy wethers were forward. There was a smaller yarding of ewes than of late, but these met a good sale, and practically the whole of the yarding was cleared at auction at prices showing a slight advance on those ruling of late. Quotes may be made as follows:—Extra heavy wethers from 48/- up to 54/6, while one exceptional sheep realised 60/-; good, from 38/- to 43/9; lighter from 33/- to 35/-. Prime heavy ewes up to 31/-; medium from 26/- to 29/-; light from 23/to 25/6; a pen of fat wether lambs realised 26/6.

FAT CATTLE.—A large yarding, but smaller in numbers than at the last two sales. Prices for all qualities showed a slight advance, and practically the whole of the yarding was sold at auction at prices showing a rise of from 2/6 to 5/- per hundred pounds, according to quality. The yarding contained a large proportion of prime heifers and cows, but a few pens of good prime steers met with spirited competition, and prices may be quoted as follows:—Extra prime handy-weight bullocks realised up to 37/6 per hundred, while fighter sorts brought from 30/- to 35/-. Prime heifers brought from 30/- up to 35/-; lighter quality from 25/- to 30/-. Good heavy cows from 25/- up to 30/- for extra good quality. STORE SHEEP.—A very small yarding, consisting of a few small lines of good hoggets and a few breeding ewes. Good mixed-sex hoggets realised from 25/- to 27/6. Smaller sorts from 20/- to 23/-. A nice fine of good conditioned wether hoggets realised 26/6, STORE CATTLE.—Trere was a very small yarding, consisting of a few pens of nicely-bred steers, and a smaller quota of mixed young cattle. The usual yarding of “boilers” was forward, and a few dairy cows. The sale was dull, and prices were on a par with those ruling of late, while a few cows close to calving found buyers at satisfactory prices. The yarding was not a very representative one, and prices are not quoted to indicate the state of the market as passings were frequent. GRAIN AND PRODUCE. MERCHANTS’ REPORTS. Messis Dalgety & Co., Ltd. (Dunedin), report as follows: Oats.—A small shipment of Canadian oats has arrived, and this has had a slightly depressing effect on the inquiry for locallygrown. Offerings of locally-grown, however, have now practically ceased, and it seems certain that most of this year’s crop has gone into consumption. A Gartons are worth nominally 5/1 per bushel, sacks extra, and B’s 4/11. Wheat.—Supplies are short, and only an odd small line is offering. The inquiry is good, and good whole fowl wheat is realising up to 5/9 per bushel. Potatoes.—Consignments of northern potatoes are coming forward freely, and are to some extent filling the improved demand. Choice lines of southern grown are realising £6 10/- to £7 per ton. Chaff.—Feeders are now holding fair stocks, but supplies have eased, and prime oaten sheaf is selling readily at £8 10/per ton; sacks extra. Messrs Donald Reid & Co., Ltd., report:— Oats. —The market is slightly easier, due no doubt to the Canadian oats, which are now offering freely. Good bright seed fines, however, are still in demand, but offerings are negligible. We jquote: A Gartons, 5/1; B Gartons, 4/11; sacks extra. Wheat. —Offerings are practically nil. Milling rates increased id per bushel as from July 1, but no business can be done at milling rates, farmers preferring to sell at higher money for seed and fowl purposes. We quote: 5/9 per bushel for good whole fowl; sacks extra. Chaff.—There is still a fair quantity arriving from Canterbury, North Otago, and Southland, and as the bulk is of good bright quality values remain on a par with last week’s. We quote: £8 10/- per ton; sacks extra. Potatoes. —Northern offerings have quietened down considerably this last week. Prices however remain the same. We quote: £7 per ton; sacks in. DAIRY PRODUCE,. THE LONDON MARKET. Dalgety and Co., Ltd., report having received the following advice from their head office, London, under date of July 7:— “Butter.—The market is quiet. Since our last wire prices are 2/- lower. We quote: New Zealand at 188/-, New Zealand (exceptional brands) 190/-; Danish, 200/-; finest Australian salted, 184/-; unsalted, W4/-. “Cheese.—The market is steady. Since our last wire prices are 2/- lower. We quote: New Zealand white, 93/-; New Zealand coloured, 91/-; Canadian, c.i.f., 94/-.” BUTTER AND CHEESE. SHIPMENTS TO ENGLAND. The National Dairy Association supplies the following table giving the date of arrival of steamers in London, showing also the quantities of butter and cheese shipped in each steamer:— Quantity Shipped.

CANTERBURY MARKETS. VICTORIAN POTATOES IMPORTED. CHRISTCHURCH, July 8. There is further shipping to report in the potato market. The arrival at Auckland of the Wairuna the impending arrival of the Koromiko and Kaiwarra later in the month with Victorian potatoes, has restricted forward ortters for Canterbury tubers. Merchants ask £6, f.0.b., s.i. The Navua and Atua, leaving Lyttelton at the week-end, took between <5200 sacks for Auckland, which consignment included some seed. In the meantime, whilst growers will not discuss business ’at less than £5 5/- on the trucks, merchants are disinclined to offer more than £4 15/-. Oats have brightened slightly this last few days, and on truck quotations are now from 4/10 to 4/11. Chaff is still firm with no change in the quotations. The market in all classes of seeds is very .dull-

CANADIAN OATS. DUNEDIN MARKET'S AFFECTED. MONEY GOING OUT OF THE COUNTRY. The Dunedin Star states that the arrival of Canadian transhipments of oats from Auckland has affected the market for localgrown oats, merchants not being willing to pay more than 5/2 Lo.b. for B Gartons. These latter oats are not wanted for consumption in the North Island, but have to be purchased by merchants, who still have to cover forward sales. In one way the advent of cheaper Canadian oats in these parts may be regarded as an attempt by the North Island, chiefly Auckland, merchants to force down the oat market here, and minimise their losses arising out of speculative forward buying in the more or less recent past; but, despite w-eakness in the shipping market for local oats, it is still difficult to get oats from farmers for seed or milling purposes. Gore merchants are holding for 5/6 (sacks extra) on truck, and in view of the difference between the figure and f.0.b., and Canadian values, merchants here are not prepared to operate. It is unique to have oats coming to these parts from elsewhere, via the North Island. It is becoming a serious matter that sufficient oats and wheat also cannot be produced in the South Island to satisfy New Zealand requirements. This year is the first for a very long time indeed that either of these cereals have had to be imported. It means that money is going out of the country instead of being distributed among the farming community. Certainly the drought had a bad effect on crops, especially oats, last season, but it now appeal’s that even had the season been favourable there would not have been sufficient cereals grown for our own consumption. The chief reason for this is that fanners find it very expensive to cultivate land, and the high returns from lambs and from wool induce them to put down their paddocks in grass. This, of course, has to be allowed as a set-off for the money sent abroad to pay for imported cereals. THE SHARE MARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) DUNEDIN, July 8. Sales on ’Change:—National Insurance, 72/3; National Bank (old issue), £6 14/6; Union Bank, £l5. Sales reported:—Bank of New Zealand, 54/9 (two parcels); New Zealand Paper Mills, 22/9; Government Inscribed Stock (1927), £9B. CHRISTCHURCH, July 8. Sales reported:—New Zealand Government 41 per cent. Inscribed Stock (1939), £97; Union Bank (cum. div.), £l5 1/-. WELLINGTON, July 8. Sales reported:—Bank of New Zealand, £2 14/9. AUCKLAND, July 8. Sales on ’Change:—New Zealand Government Inscribed, 1927-41, £9B 7/6; Bank of New Zealand, 54/6; National Insurance, 72/6; South British, 40/6; Waipa Coal, 18/-; Leyland O’Brien, 43/6. LONDON WOOL SALES. IMPROVED TONE. LONDON, July 7. At the wool sales there was an average selection. Prices for good wools continue very firm. Inferior sorts were neglected, and there have been many withdrawals. There is an improved tone for Bradford tops in Merinos and more inquiry fo; rossbreds.

SYDNEY SHEEP SALES. GOOD OFFERINGS. SYDNEY, July The annual stud sheep sales commenced to-day. Bidding was keen. The offerings were the best submitted in recent years. The top price of the day was realised for a Merino ram, which brought 550 guineas. MEAT MARKET. SMITHFIELD QUOTATIONS. The New Zealand Meat Producers’ Board has received the following cable from its London office, dated July 4, advising Smithfield delivered prices at that date as follows: N.Z. Wethers and Maidens.—Canterbury quality, selected brands, 56lbs and under 7Ad per lb, 57 to 64Ibs 7d per lb, 65 to 721bs God per lb; other brands, 561bs and under 7dl per lb, 57 to 641bs 6§d per lb, 65 to 721bs 6}d per lb. New Zealand Ewes —641bs and under, 5Jd per lb. . New Zealand Lamb—Canterbury quality, 36Ibs and under lljd per lb, 37 to 421bs 10:|d per lb, 43 to 501bs 9£d per lb, seconds IOJd per lb; selected, 361bs and under 11 Id per lb, 37 to 421bs lljd per lb; other brands, Ist quality, 421bs and under 10id per lb, seconds 10gd per lb. New Zealand Beef.—Not quoted. Argentine Chilled Beef. —Ox fores, 2Jd per lb; ox hinds, 4jd per lb. Argentine Frozen Beef.—Ox fores, 2£d per lb; ox hinds, per lb. Frozen Pork.—Not quoted. Frozen Veal.—Small supply of New Zealand is selling at 4Jd per lb. Wethers. —Demand is improving. Lamb trade good. MILKING FOR LIBERAL PROFITS. By installing the best type of milking machinery, you assure satisfactory results right from the jump. The utmost efficiency, convenience and dependability are covered in the Moffat-Virtue guarantee. The Moff at-Virtue Milker is simply constructed and easily dismantled for cleaning. It is a rapid and efficient milker. Full information promptly sent on opplication to M-V. Machinery Company, Ltd., Queen Street, Masterton. — (Adv t).

Date Boxes. Boxes. Steamer. Arrived. Butter. Cheese. Kia Ora May 14 37,536 14,546 Kuniara .. .. City of May 10 1,310 — Winchester . . May 4 867 — Remuera .. .. April 28 37,863 18,876 Devon May 16 40,039 20,000 Paparoa . . ■ May 12 37,311 — Westmoreland May 11 19,240 19,476 Hororata - ■ • May 11 9,078 20,555 Tainui Mav 11 4,450 9,738 Gallic May 25 6,601 — Ionic May 28 8,389 16,507 Port Brisbane May 30 19,965 15,293 Maimoa . May 30 21,427 15,029 Waiwera .. .. June 13 6,934 18,044 Hertford .. .. June 3 14,680 8,677 Ruahine - - - • June 17 41,549 44,934 — Port Pirie . . . June 22 12,729 Tekoa June 28 965 17,565