COMMERCIAL

Southland Times, Issue 19434, 24 December 1924, Page 2

COMMERCIAL

BURNSIDE SALES. POOR YARDIN GS OF STOCK. DUNEDIN, December 23. There were poor yardings at the Burnside stock sale to-day, when a butchers’ sale was held. The yardings were 122 for cattle, 416 fat sheep, and 566 fat lambs. No pigs or store stock Were forward. Fat Cattle: Only 122 yarded, compared with 303 last week, and the quality was somewhat mixed. Southland bullocks were in evidence, but the bulk of the entry consisted of light-weight steers and heifers from the Taieri farmers. There was a good demand for all prime stock at an advance of some 30/- a head on last week’s rates. Prime handy-weight bullocks sold at from 42/6 to 45/- per 100 lb, prime heavy-weight bullocks 40/- to 42/-, prime heifers to 35/-, second quality heifers to 32/6 and cows from 25/- per IgOlb. Fat Sheep.—The entry totalled 416, compared with 2341 last week, the quality ranging from fair to good. Several of the lots forward were lacking finish. Values appreciated to the extent of 1/- to 1/6 a head, and in some instances wethers sold at up to 8d a pound. Prime lightweight wethers sold at from 7d to 7jd, medium quality wethers to 7d, and ewes from 4sd to Fat Lambs.—The entry totalled 566 head against 1711 last week, the quality ranging from fair to good. Prices were high early in the sale, but the demand died away towards the finish and at the close prices were well below those of last week’s sale. Prime lamb was worth from lid to a pound and second quality up to 10|d. GRAIN AND PRODUCE. DUNEDIN MARKET CONDITIONS. Messrs Dalgety and Company, Ltd., report as follows: Oats.—Business in this market is at a standstill, and buyers are not showing any interest in the few samples offering. Wheat. —Stocks of fowl wheat are very low and there is a good inquiry for good whole quality at up to 8/- per bushel, sacks extra. Chaff.—Consignments have been arriving very freely and the market is glutted. A large quantity is being held in store and feeders are holding fair supplies. It is almost impossible to effect sales ex truck, and in the absence of sales our quotation of £7 to £7 10/- per ton, sacks extra, is nominal only. Messrs Donald Reid and Co., Ltd., report as under:— Oats.—Business is now at a standstill. An occasional sale has been made forward, but it is certain that little will be done until the actual samples come on the market. Canadians are being utilised for feed purposes up to 5/9 per bushel. Chaff: The market is over-supplied, and feeders are not keen to over-stock at the present prices especially with the holidays at hand. We quote £7 to £7 10/-, ex truck, sacks extra. Wheat: Good whole fowl wheat still in request. Stocks are appearances point to a further advance in prices before the new season’s is available. We quote nominal, 8/- per bushel, sacks extra. NEW ZEALAND FROZEN MEAT. LONDON QUOTATIONS. The New Zealand Loan and Mercantile Agency Company, Ltd., have received the following cablegram from their London House:— There is no change in the frozen meat market. (Last quotation 21/11/24): Lamb.—l33d per lb (average). Mutton, wether and maiden ewe: Light 9d per lb; heavy B|d per lb. Ewe: Light 7gd per lb; heavy 7d per lb. DAIRY PRODUCE. THE MARKET OUTLOOK. Joseph Nathan and Co., report as follows: Butter: The butter market, although quiet, has continued to maintain prices round about 204/- per cwt. Most recent cables from London indicate a slight hard-ening—to-day’s quotation being 206/- per cwt. This maintenance of price at this figure is no doubt partly due to seasonal requirements, and it is contended by some buyers that an early fall may be expected after Christmas. London advices also point out that the spot market is almost cleared until the arrival of the s.s. Port Caroline, due to-day, and carrying approximately 60,000 boxes of butter. This vessel will be followed by several vessels carrying considerable shipments of both butter and cheese, so that as far as New Zealand butter is concerned the market should be regularly and plentifully supplied. Cheese: The latest advices indicate a little activity in the cheese market. Today’s quotations are 95/- to 96/- per cwt. Buying, which has been at a standstill for some considerable time past, has now commenced and it is reported that transactions of a considerable size have been put through. Offers up to May output at 8d lb, f.o.b, are general, and it is reported that sales have been effected for December-Feb-ruary output at B£d to B}d lb f.o.b. Australia: Butter prices for local consumption have again been reduced con-siderably—to-day’s prices being:— Sydney, 144/8 per cwt, plus boxes 1/3 each. Melbourne, 140/- per cwt, plus boxes 1/6 each. The favourable dairying conditions at present ruling in Australia are a contrast with those prevailing at this time last season. Further rains have assured abundant feed for the next two months, and all districts are in a splendid condition, and there is now little doubt that this will prove a record in Australian butter production. Shipping continues favourably and future prospects are excellent. LATEST QUOTATIONS. Under date of 19th inst, Messrs Lovell and Christmas, Ltd., cabled Henderson and Co., as follows: — “To-day's official quotations: First grade New Zealand 204/- to 208/-, unsalted 212/to 214/-. First-grade white cheese 96/-, coloured 95/- to 96/-. Butter market very weak and rapidly declining. Cheese market firm. Eggs.—Market quiet, demand very disappointing and prospects uncertain. Present price Canadian 19/2.” The National Mortgage and Agency Co., Ltd., received the following advice from their principals, Messrs A. J. Mills and Co., London:— Butter: Quiet, 204/- to 206/-; unsalted 210/- to 212/-, with a tendency downwards. Cheese: Firm, 96/- cwt. THE LONDON MARKETS. HIGH COMMISSIONER’S REPORT. The Department of Agriculture has received the following cablegram, dated 20th instant, from the High Commissioner for New Zealand, London: — Butter: The steady inquiry for spot supplies continued earlier this week, but market closed quieter. Official quotations are: New Zealand; finest; salted; December 20: 204/- to 208/- per cwt (1/9$ to 1/103 per lb); December 13: 204/- to 206/- per cwt (1/9| to 1/10 per lb); December 6: 202/- to 206/- per cwt (1/9J to 1/10 per Jb, Unsalted; December 20: 212/- to 214/per cwt (1/10J per lb); December 13: 212/- to 216/- per cwt (1/10J to 1/11 per lb); December 6: 214/- to 216/- per cwt (1/10J to 1/1 Id per lb). Other qualities; December 20: 190/- to 194/- per cwt (1/83 to 1/8| per lb). Australian; finest; salted; December 20: 188/- to 192/- per cwt (1/8 to 1/8$ per lb); December 13: 186/- to 190/- per cwt 1 to l/8i per lb); December 6: 190/-

to 194/- per cwt (1/81 to 1/83 per lb). Unsalted; December 20: 190/- to 194/per cwt (1/83 to 1/8| per lb); December 13: 188/- to 194/- per cwt (1/8 to 1/8J per lb); December 6: 190/- to 198/- per cwt (1/83 to 1/9 per lb). Other qualities; December 20: salted 160/- to 184/- per cwt (1/5 to 1/7J per lb) ; unsalted 160/to 186/- per cwt (1/6 to l/7f per lb). Argentine; finest; December 20: 174/to 176/- up to 180/- per cwt (1/63 to 1/73 per lb) ; December 13: 176/- to 180/per cwt (1/6| to 1/71 per lb); December 6: 174/- to 180/- per cwt (1/61 to 1/73 per lb). Other qualities; December 20: 160/- to 172/- per cwt (1/5 to 1/63 per lb).

Danish; December 20: 243/- to 246/per cwt (2/2 to 2/23 per lb); December 13: 242/- to 244/- per cwt (2/2 to 2/23 per lb); December 6: 232/- to 234/- per ewet (2/0J to 2/1 per lb).

Cheese: Demand maintained and market firm. Official quotations are:— English; finest farmers’; December 20: 116/- to 122/- per-cwt (1/04 to 1/1 per lb); December 13: 116/- to 120/- per cwt (1/04 to l/0f per lb; December 6: 116/to 120/- per cwt (1/03 to 1/03 per lb).

Canadian; December 20: Coloured and white 96/- to 98/- up to 100/- per cwt (103 d to 103 d per lb) ; December 13: Coloured and white 96/- to 98/- per cwt (103 d to 104 d per lb) ; December 6: Coloured and white 93/- to 96/- per cwt (lOd to 103 d per lb).

New Zealand: December 20: Coloured 95/- to 96/- per cwt (103 d per lb), white 96/- per cwt (103 d per lb); December 13: Coloured 92/- to 94/- per ccwt (9fd to lOd per lb), white 94/- to 96/- per cwt (lOd to 10|d per lb); December 6: Coloured 92/- per cwt (93d per lb), white 92/to 93/- per cwt (93d per lb). Australian; December 20: Coloured and white 92/- per cwt (9fd per lb); December 1 13: Coloured 90/- to 92/- per cwt (9|d to 9|d per lb); December 6: Coloured 90/per cwt (94d per lb). A shipment of New Zealand produce arrived this week per s.s. Port Caroline. Hemp: Manila market opend dull and quotations for “J” grade reached £52 10/-, but closed with good demand, “J” grade December-February shipments being sold for £54 10/-. New Zealand market continues quiet. Highpoints quoted at £43; fair £4l and value.

Wool: Bradford market quiet. Buyers holding back on account of having covered immediate needs. Quotations for tops:— 64’s (Merino) 6/8, 56’s (super halfbred) 4/6, 40’s (prepared coarse crossbred) 2/9. Tallow: Market very firm and demand active. Present quotations are:— Mutton: Fine, 54/3 to 54/9 per cwt; fair to good 50/6 to 54/-; dark to dull 47/- to 48/6. Beef: Sweet and/or mixed 52/3 to 52/6; fair to good 49/3 to 52/-; dark to dull 45/- to 47/-. Mixed: fair to good 48/9 to 52/-; dark to dull 45/- to 47/-. Gut, etc.: 41/- to 46/6. Eggs: English, Irish, Danish, Dutch, Belgian, and Italian 22/- to 27/- per long 100. Australian and South African 19/- to 22/- per long 100. Argentine, Russian and Moroccan 15/to 18/- per long 100. Egyptian 11/6 to 12/6 per long 100. WHEAT AND FLOUR. IMPORTATIONS FROM AUSTRALIA. DEPUTATION TO THE MINISTER. (Per United Press Association.) ASHBURTON, December 22. The Minister of Agriculture met a deputation representing the executive of the Farmers’ Unions of the wheat growing districts at Ashburton to-day. The deputation took the form of a round the table conference at which the delegates expressed the view that the farmers should receive the utmost possible encouragement to remain in the industry in order that New Zealand should not become entirely dependent upon outside sources for supplies of such essential commodities as bread and wheat. A request was also made that the embargo on Australian flour should be continued until September next in order that the local product could be used up by millers before the Australian flour was marketed in New Zealand. The Minister recalled the promises he made at the wheat conference in March last, that after February 28 next the Government control would cease, and that the embargo on importation would be lifted, and duties of 1/3 a bushel on wheat, and £3 a ton on flour would be imposed, and also that if circumstances warranted it a dumping duty on imported flour would be imposed. The Government, said the Minister, had no intention of revoking its announced decision on any of these points, and all the necessary arrangements mentioned to become applicable from March 1, had been made for the relinquishment of Government control of prices was a matter of settled policy, and therefore, it was quite useless to ask the continuance of the embargo on the importation of Australian wheat and flour. The Minister pointed out that on the present prospects the farmers should receive considerably more than the 6/- a bushel asked by them in February last. He considered that for the present season at any rate, wheat growing would be remunerative. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. DUNEDIN, December 23. Sales on ’Change: Mount Lyell 22/6. Sale reported: Kawarau Gold Mining 20/-. AUCKLAND, December 23. Sales on ’Change: N.Z, War Loan (1938) £97 7/6, Auckland Gas 24/9, Auckland Gas (cont.), 5/7. LONDON DAIRY PRODUCE MARKET. SHIPMENTS FROM AUSTRALIA AND THE ARGENTINE. (Per United Press Association). WELLINGTON, December 23. Advice has been received by the Dairy Division that in Australia there were graded during November 351,852 boxes of butter and 8899 crates cheese, and that the shipments from Australia to the United Kingdom during November were 242,675 boxes of butter and 8628 crates of cheese. The Department is also in receipt of advice which arrived per cable from the Argentine Dairy Association, reading as follows: The shipments for the month of November were 3550 tons of butter, 50 tons of chees, and 1000 tons of casein.