COMMERCIAL

Southland Times, Issue 19502, 17 March 1925, Page 2

COMMERCIAL

WALLACETOWN STOCK SALE. SHEEP PRICES FIRM. FAT LAMBS EASIER. The fortnightly sale was held in the Wallacetown yards yesterday when, in spite of the date having been put forward a day, a good yarding was offered. FAT CATTLE: The yarding was a fairly large one, and anything well finished met with a good demand. However, there was a large amount of cow beef yarded, the quality of which was indifferent. Prices for this class of beef showed a decline and, the only thing which stopped a collapse in the market, was that one buyer was operating freely on this class of stock at about 20/- per hundred, the purchases being made for export purposes. On good quality beef there was no apparent difference in the market when compared with the previous sale, and good quality being about 35/- per hundred for ox beef, heifers selling at about 30/- for primes. A few vealers were offered, but a number of them were unfinished, and did not make very high prices. The following prices were obtained ar auction:—Prime heavy-weights £l3 5/- to £l5 12/6, prime medium-weights £9 10/- to £ll 12/6; light and unfinished down to £7. Prime heifers £6 to 28 2/6, light and unfinished down to £4 17/6; prime cows, none offered; average sorts £5 to £8 15/-; light and unfinished £3 to £4 15/-; vealers from 15/- to £2 10/-.

STORE CATTLE: The store cattle market was very slow and sales were few, the larger part of the yarding being passed at auction. Steers were passed in at £5 10/and £5, while cows sold at prices up to £4. FAT SHEEP: The bulk of the yarding was ewes, the quality being fair average. One or two pens of prime wethers from the Winton district were offered and these met with a ready sale. Although there was no evidence of a definite increase, the market showed a hardening tendency. The following prices were obtained at auction: —Prime wethers 41/6 to 45/6; mediums 35/- to 40/-; light and unfinished 31/- to 34/-; ewes, primes 26/- to 29/6; mediums 23/- to 25/9; light and unfinished 20/- to 22/6.

FAT LAMBS: The yarding was not so large as at the previous sale, and competition not so keen. The lambs yarded, with one or two exceptions, had lost their bloom, and in some pens some fairly light lambs were included in the draft, which told against the sale. The sale was not brisk, and in a few instances a substantial drop was recorded, good quality lambs dropping 1/6 per head, while the drop on average quality was even greater. The buyers were operating on a basis of about lid per lb. The following prices were obtained at auction: Prime freezing lambs 35/6 to 40/-; medium sorts 32/-.

STORE SHEEP: In common with country sales the yarding of stores was a big one, but the quality was indifferent. The lambs yarded were below those of the previous sale in quality, only one line of good rape lambs being offered. This was sold at 27/6, but the average price for the yarding was from 20/- to 24/3. The ewes yarded were mostly f. and f. mouthed, prices for these ranging from 12/3 to 17/8, while an exceptionally fresh line realised 23/-. Sound mouthed ewes made up to 29/9, while a line of 4,6, and 8-tooths were knocked down at 41/-. The yarding compared with those of the two previous sales, was as follows: Feb. 20. Mar. 3. Mar. 16. Store Cattle .. .. 185 302 189 Fat Cattle .... 173 206 211 Store Sheep .. .. 1768 2602 1396 Fat Sheep .. .. 2745 2178 907 Fat Lambs .. .. 1396 1118 964 TALLOW. LONDON QUOTATIONS. The New Zealand Loan and Mercantile Agency Co., Ltd., have received the following cablegram from their London house:— We quote present spot values for the following descriptions of tallow: Fine mutton, 50/- per cwt; good beef 45/6"; mixed 41/3. The market is firmer. BUTTER AND CHEESE. LONDON MARKET VALUES. Butter: Choicest salted 174/- to 180/per cwt. The market is dull. Cheese: 102/- to 104/- per cwt. The market is steady. Henderson and Co., Ltd., report receipt of the following cable, dated 13th inst., from their London principals, Messrs Lovell and Christmas, Ltd:— To-day’s official quotations: First-grade salted New Zealand 174/- to 180/-, unsalted 186/- to 190/-. First grade white and coloured cheese 103/- to 104/-. The cheese market is steady. THE WOOL MARKET. PRICES AT LONDON SALES. EFFECT UPON THE INDUSTRY. LONDON, March 15. Regarding the wool position as indicated by the London sales, a Bradford correspondent says:— “The course of trade in Coleman street has done something to remove the extreme uneasiness which was so prevalent before the opening of the auctions. A safe trading basis seems well within sight and if prices remain steady throughout the series there is every reason to believe that users will regain confidence and resume business in tops and yarns. Buyers in all sections have been holding off as long as possible in the hope of being able to obtain favourable rates. It is manifest everything now hangs on the course of the raw material. If prices remain firm there should soon be a distinct improvement right through the industry.” THE LONDON SALES. MERINOS HARDENING. Messrs Murray, Roberta and Co., Ltd., are to-day in receipt of the following cable from their London agents, dated March 14:— The Merino market shows a hardening tendency. Compared with closing rates of last London sales, crossbred declined 10 per cent. The range of prices as follows: Close 1

AUSTRALIAN BUTTER. IMPROVED QUALITY. LONDON, March 15. A feature of the butter market has been that Australian is realising higher prices than New Zealand. As already pointed out this is due to a temporary shortage of Australian and as soon as supplies increase there will probably again be a margin of a few shillings in favour of the New Zealand product, but the fact that Australian has for once surpassed New Zealand has given great satisfaction to importers of Australian butter, who have long been contending that the disparity in prices was not justified, especially in view of the excellent quality of Australian butters this season.

MEAT FOR EXPORT.

SMITHFIELD PRICES. The New Zealand Meat Producers’ Board has received the following cable from its London office, dated March 13, 1925, advising Smithfield delivered prices at that date as follows:—■ (Prices for the two previous weeks are also fihojwQ.

INVERCARGILL STOCK EXCHANGE. YESTERDAY’S TRANSACTIONS. At yesterday’s call-over of the Inverca£ gill Stock Exchange, the following sale was reported:— N.Z. Guarantee Corporation (8/- paid), 9/3, 9/4. Quotations were as follows: — Bank of Australasia, b £l4 1/-, s £l4 5/-.

Gem merci al Bank, s 30/6. National Bank of N.Z. b £6 15/-. Bank of N.S.W., s £4l 10/-. Bank of N.Z., b 52/-, s 53/-; (rights), b 31/-, s 31/4. Union Bank of Australia, s £l4 1/6. Westport Coal Company, b 31/8, s 32/-. National Insurance Co., s 72/3. South British Insurance Co., s 46/9. Standard Insurance Co., b 41/-. Perpetual Trustees (Dunedin), b 41/-. Wright, Stephenson and Co., (ord.), b 28/-, s 30/3; (pref.) b 16/-, s 17/-. Gear Meat Preserving Co., b 43/6. N.Z. Refrigerating Co. (10/- paid), b 9/6. Southland Frozen Meat Co., (£1 ord.), b 32/3; (£1 pref.), b 32/3. Mosgiel Woollen Mills, s £6 2/6. D.I.C. (pref.), b 20/6. Milburn Lime and Cement Co., b 33/3, s 34/6.

N.Z. Drug Co. (new issue), b 8/3 premium. N.Z. Farmers’ Fertilisers, b 88/-. N.Z. Milk Products, b 27/-. N.Z. Paper Mills, s 21/6. Otago Daily Times Co., b 63/-. N.Z. Guarantee Corporation, (8/-) b 9/3. Inscribed Stock, 1938, s £96 15/-. War Bonds, 1938, s £96 15/-. Inscribed Stock, 1939, s £96 15/-. War Bonds, 1939, s £96 15/-. Post Office Bonds, 1927, b £97 10/-. P.O. Inscribed Stock, 1927, b £97 10/-. • P.O. Inscribed Stock, 1929, b £97 10/-. Soldier Settlement Loan Bonds, 1933, 5| per cent., s £lOl 5/-. Soldier Settlement Loan Inscribed, s £lOl 5/-. THE SHAREMARKET. (Per United Press Association.) AUCKLAND, March 16. Sales on ’Change: New Zealand War Loan (1941), £96 7/6; New Zealand Inscribed Stock (1938), £96 5/-; Soldiers’ Inscribed Stock £lOO 15/-; Bank of New Zealand 52/9; New Zealand Milk Products 28/-; Taranaki Oil 31/6, 32/-, 32/6. DUNEDIN, March 16. Sale on ’Change: Huddart-Parker (ord.) 44/-. • CHRISTCHURCH, March 16. Sales on ’Change: Howard, Smith (cum. div), 35/9.

I d. revious Series, d. 50’s yielding 65 per cent. 241 284 44/46’s 74 per preparing, cent .. yielding 21} 24J 44/46’s 72 per carding, cent .. yielding 21 244 40/44’s cent . yielding 73 per 20 J 24 36/40’s cent . yielding 75 per 191 23

13/3/25 • Per lb. 6/3/25.27/2/25 d. d. d. N.Z. Wethers and Maidens: Canterbury quality; Selected Brands— 561b and under .. .. 91 94 98 571b to 641b 84 8.1 84 , 651b to 721b 74 74 7* Other Brands — 561b and under .. .. 9 9 9 571b to 64!b 8 8 84 651b to 721b 7 7 74 N.Z. Ewes— 641b and under .. .. 74 74 7 N.Z. Lamb; Canterbury quality— 361b and under .. .. 124 12* 124 371b to 421b 12 124 12| 431b to 501b lit Hi 114 Seconds ns 111 12 Selected Brands— 361b and under .. .. 121 124 128 471b to 421b 12 121 12? Other Brands; 1st quality— 421b and under .. .. 114 12 124 Seconds 111 111 in N.Z. Beef— Ox fores 4} 44 48 Ox hinds .. .. .. .. 54 5* 54 Cow fores 44 4 8 44 Cow hinds 5 a 5 Argentine Chilled Beef — Ox fores .. 5 54 5 Ox hinds 7 71 74 Argentine Frozen Beef— Ox fores 4} 44 44 Ox hinds 64 64 64 Frozen Pork— 801b to 1201bs .. .. (Not quoted.) 1201bs to 1801bs .. .. 8* 8J 84 Frozen Veal— (Not quoted.)