COMMERCIAL

Southland Times, Issue 19458, 23 January 1925, Page 2

COMMERCIAL

FINANCE AND TRADE

'THE LOCAL MARKETS. The Times Office, January 22, 1925. STOCK MARKET. The live stock market still remains firm and active, and although prices for fat cattle and fat sheep have been a little easier of late the market for all fat stock is firm. Fat Cattle. —Quite a large number of fat cattle have been coming forward, and on account of number offering, and the quality in most cases being only medium, their value has depreciated slightly, but not to any great extent. Since the ’Xmas trade the demand has eased off considerably owing no doubt to many of the butchers still holding sufficient supplies. Extra prime heavy-weight bullocks are bringing from £l4 10/- to £lB 10/-. Prime weight £l2 to £l4 10/-, medium weights £lO 5/- to £l2. Prime heavy cows from £7 15/- to £lO 17/6. Fat Sheep.—This section still remains firm, especially for nicely finished sorts. Quite a large number of fat ewes have been on the market of late and these have met with a ready market. Extra prime shorn wethers are worth from 42/- to 43/6, medium weights 38/6 to 42/-. Fat ewes are bringing from 25/- to 33/-. Store Cattle.—The yardings of store catttle of late' have not been so large as a few weeks ago and as the demand has been good prices for all classes of store cattle have been very satisfactory. Some exceptionally well-grown 4 and 5-year-old steers made £l2 15/- at last Waliacetown sale. Two-year-old steers have been bringing from £5 10/- to £6 10/-, yearlings from £1 15/- to £2 15/-. Empty heifers are worth from £3 to £4 10/-, although the numbers offering have been limited. Two-year-olds up to £3, yearling heifers from 20/- to 31/-. A herd of dairy cows sold during the week averaged close on £5 15/-. Store Sheep.—Some exceptionally good lines of rape lambs have changed hands during the last week at prices ranging from 24/6 to 28/-. 2-tooth ewes have been bringing as much as 42/6, while 2-tooth wethers have been disposed of up to 32/-. Ewes and lambs are still being sought after. One line of aged ewes with well-grown forward lambs changed hands at 26/6 all counted. GRAIN AND PRODUCE. Oats: There is very little change to report. No business is now being done for shipment in last season’s oats, and the small stocks of these now held are being absorbed for feed, Prices for new season’s oats spread April-September remain about 3/8 for A grade, and 3/6 for B grade, but possibly a few more sales have been effected during last week as business has settled down again after the holidays. On this basis the price to farmers will probably be about 2/9 for A’s and 2d less for B’s. Wheat: No business is being done at present except for local fowl wheat, for which purpose supplies have been drawn from outside markets, principally Melbourne. No business is being done locally for wheat for forward delivery, but quotations are being made in Canterbury on a basis of about 7/- per bushel, f.0.b., s.i. Chaff: The market is fairly well supplied, and there will probably be sufficient old chaff in hand to meet the demand until the new season’s chaff comes to hand. Farmers are showing a tendency to sell their new season’s chaff, and considerable quantities could be purchased on a basis of £4 a ton o.t.u.cs., with delivery spread over several months.

Ryegrass: The market continues very weak. There is a little inquiry both for prompt and forward delivery, but buyers’ ideas are low and they do not seem inclined to buy over about 5/- f.o.b. for dressed 27/281b seed. Selling merchants’ ideas, however, are round about 5/6 per bushel. It is reported that a considerable part of the Canterbury crop will not be in best condition owing to rain, but the Southland crop promises to be harvested in splendid condition. It is expected that prices will open somewhere about 3/- per bushel. Potatoes: The only business being done at present is in Southland-grown for the local market. Southland merchants are not greatly interested in forward business for main crop potatoes, but business is being done between other centres and North Island on a basis of £5 5/- f.0.b., s.i. On this basis the value to farmers on trucks for delivery from April onward would be about £3 15/- per ton. Possibly a shade more for short railages. CURRENT PRICES. —Wholesale. — Eggs, 1/2. Bacon. 1/1. Pollard, £7 10/- per ton. Butter, factory 1/6, farm lOd, separator 1/-. Bran,, £6 15/-. Flour, £l6. Oatmeal, £3O 10/- to £34. —Retail. — Eggs, 1/6. Bacon, 1/4. Butter, factory, 1/8 nett cash, 1/9 booked; farm, 1/-, separator, 1/3. Cheese, 1/2; matured, 1/4. Bran, 8/- per 100. Pollard, 10/- per 100. Flour—2s’s, 5/3; 50’s 10/6; 100’s, 19/6; 200’s, 37/-. Oatmeal—solb, 19/-; 251 b, 9/6; 100’s, 37/6; 200’s, 68/-; loose, sjd lb. Onions, 2d per lb. FRUIT AND VEGETABLES. Supplies of fruit at the beginning of the week were on the light side, but during the latter part heavy consignments have come to hand. Advice received from the orchards is to the effect that apricots are practically finished, and this week is likely to see the heaviest supplies of the season. The second variety of peaches is now coming forward in full supply, and the first of the nectarines are also arriving Plums are more plentiful. Tomatoes from Christchurch are in short supply and prices have kept very firm. Nelson tomatoes are expected shortly when prices can be expected to fall. Supplies of bananas are due today, while the market is very short of oranges and lemons. The following are the current prices for the week:—Apricots, crated, 3M to sd, boxes 2£d to 34d; peaches, crates to sd, boxes 2d to 3d; plums best desserts to 6d, cases 2d to 3£d; nectarines to 6d; tomatoes, best quality to 1/3, Nelson’s to lid; bananas to arrive; dessert apples (new season’s) 4d per lb; peats to 4d. Vegetables: Green peas to 3d; French beans to 3d; beetroot to 2d; carrots 1/- a dozen bunches. WHOLESALE AND RETAIL. Sugar.—The shipment ex sjs. Wingatui has now been distributed and supplies are fairly plentiful with a good demand. C.O. Waxshine has advanced in price, retail prices now mentioned by the manufacturers being small 7d, medium lOd, large 1/4, extra large 2/8. Marmalade. —The “K” Brand has been reduced by -Jd per lb for tins, jars are unaltered. Coarse salt is very short at present, fair stocks of fine are held. Butter has declined Id per lb since our last report. Canned Peas. —Another poor season in Nelson is reported with the result that stocks of “K” Green Peas will again be short. Buyers who cover their requirements early are only receiving approx., l-sth of their orders which are being delivered pro-rata. Those who have not covered will have difficulty in getting any from Nelson. The demand at present is light owing to there being plenty of fresh grown peas available.

Kolynos Dental Cream is quoted for delivery of February 1 next on a revised scale of prices; The retail price remains at 1/6. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) DUNEDIN, January 22. Sales on ’Change: Kawarau Gold Mining 25/- (four parcels). Sales reported: New Zealand Insurance Co., 31/6, Standard Insurance Co. 42/6. CHRISTCHURCH, January 22. Sales reported: New Zealand Government 5A per cent. Inscribed Stock t 1933), £lOO 10/-; Bank of New South Wales £42; Westport-Stockton (pref.), 5/-. Sales on Exchange: New Zealand Governmnent 5A per cent. Inscribed Stock (1933), £lOO 7/6. AUCKLAND, January 22. Sales on ’Change: War Loan (1927), £97; Bank of New Zealand 61/9; South British Insurance 45/6; New Zealand and River Plate 20/6; Auckland Gas 24/9; Huddart-Parker 44/3; Milne and Choyce debentures 22/3; Kawarau Gold Mining Co 25/-. THE AUSTRALIAN MARKETS. LATEST QUOTATIONS. (By Telegraph.—Press Assn.—Copyright). (Australian and N.Z. Cable Association.) SYDNEY, January 22. (Received January 22, 11.15 pan.) Oats: Tasmanian Algerian, 3/6 to 3/9; white, 4/9 to 5/-. Maize: Yellow, 4/3. Potatoes: Local, £5 to £7 per ton; Victorian, £6 10/- to £7. ADELAIDE, January 22. Oats: Algerian feed, 2/6 to 2/9. MELBOURNE, January 22. At the hides sales there was spirited bidding. Stouts were firm, while mediums and lights advanced by an eighth of a farthing. LONDON WOOL SALES. A WEAK MARKET. LONDON, January 21. (Received January 22, 7.5 pan.) At the wool sales, the market was weak. There was a good selection of Merinos, but little interest in faulties, of which there were heavy withdrawals. A limited supply of crossbreds were firm at opening rates. “Manuka” fetched 63jd. GENERAL DECLINE REPORTED. Messrs Murray Roberts and Co., Ltd., are in receipt of a cable from their London agents, dated 20th instant, reading as under:—“Sales have opened without animation. There is a good attendance of buyers but poor competition. Crossbred offering is very limited. Merino declined 5 per cent, to 10 per cent. Faulty and inferior descriptions show the greatest decline. Crossbred, particularly fine and slipe wool, are easier.”