COMMERCIAL

Southland Times, Issue 19539, 1 May 1925, Page 2

COMMERCIAL

FINANCE AND TRADE

LOCAL MARKETS. Tinies Office, April 30, 1925. STOCK MARKET. The live stock market still continues firm and active, and with prospects of plenty of winter feed prices for sheep and cattle show little signs of receding. Now that most of the surplus sheep have been sold by runholders, the yardings at country sales are becoming smaller, but good tussock lambs and hill ewes are still very much in demand. The fat lamb season is now drawing to a close after one of the best experienced in Southland for some time. The fat sheep market is still firm, the demand for prime heavy wethers being exceptionally good. There is not a great deal of movement in the store cattle section, but any wellgrown steers or heifers are easily saleable. Younger cattle are not being sought after very keenly. Some very prime bullocks were in evidence at last Waliacetown sale, in fact, the whole yarding of fat cattle was better in quality than what has been seen for some time. Bullock beef is selling in the vicinity of 35/- per lOOlbs. Prime heifer beef about 30/- per lOOlbs. Cow beef from 25/- to 27/6 per 100. Store Sheep.—Good mjs. paddock lambs are worth from 27/6 to 31/-, smaller sorts from 21/- to 25/-, 2-th wethers are making from 27/6 to 32/-, 2-th ewes 39/- to. 42/6, 4 and 6-th ewes up to 45/6, g-s.m. ewes from 34/- to 39/- Failing mouth ewes in good condition from 19/- to 24/-. Poorer sorts dowp to 10/-. Fat Sheep: Prime wethers are worth from 42/- to 46/6, medium 38/- to 41/-, lighter down to 35/6, prime ewes from 28/6 to 34/-, medium 24/6 to 28/6, lighter down to 23/-. Fat cattle and store cattle are much on a par with those quoted last week

BUTTER AND CHEESE.

Butter.—The market is now fairly steady at 164/- but at the present time the Home buyers are disinclined to operate. A fair quantity of butter is scheduled to arrive on the Home market, but it does not look as if there will be any immediate improvement in the prices offering. Cheese.—During the past week there has been a drop to 97/- in the cheese market for both coloured and white. This was unforeseen, as arrivals lately have not been heavy and stocks are reported to be light. There is, however, a fair quantity on the water and the arrival of these lots may keep the market down until they are disposed of. Later on shipments are less and an improvement may take place. Buyers are taking practically no interest in the forward market. GRAIN AND PRODUCE. Oats.—During the week the market for shipment of prompt and forward delivery has improved considerably. While a week ago, buyers were only offering 4/5 f.0.b., s.L, for A’s, limited sales made in the last day or two at 4/7. Holders are, however, not inclined to take this price, and most Southland merchants are not inclined to accept less than 5/- a bushel. Even at that price there is no margin of profit for A’s. There is now a strong demand for shipment, and prices to farmers are about 3/9 for A, and 3/6 for B grade oats. Wheat.—lncreased prices are now ruling, and a rise in fowl wheat is also recorded. Canterbury merchants are asking 6/11 to 7/- on trucks at farmers’ sidings, but there is not a great deal offering. The Southland crop is a small one, but any good lines will probably bring farmers 7/- per bushel. Chaff.—There are few lines offering and prime lines are bringing farmers about £5 a ton on trucks.

Ryegrass.—Several lines have been offering as seed during the past week, but farmers do not seem prepared to meet the reduced prices. Considerable shipments have been made of new season seed, and merchants have been left with reduced stocks. The demand is not keen and buyers have been trying to make purchases at 5/3 to 5/4 f.0.b., s.e. Local merchants are, however, not disposed to sell at lower than 5/6 f.0.b., s.e., for 27-281 b seed. Prices for farmers run about 4/- for heavy-weight clean lines —26 lb per bushel or more. Proportionately less for light and inferior lines. Potatoes.—Lines are now offering freely, and reduced prices are offering to farmers. The top price is about £4 16/- per ton an trucks at country stations. CURRENT PRICES. —Wholesale.— E 2/4. B »n, 1/1. Pc lard, £7 10/- per ton. BiMer, factory 1/6, farm 1/1» separator 1/3. Bran, £6 15/-. Flour, £2O. Oatmeal, £3l 10/- to £35. —Retail.— Eggs, 2/8. Bacon, 1/4. Pollard, 10/- per 100. Butter, factory, 1/8 nett cash, 1/9 booked; farm, 1/3, separator, 1/6. Bran, 8/- per 100. Flour—2s’s, 6/3, 50’s 12/3; 100’s 24/-; 200’8, 46/-. Oatmeal—solb, 19/6; 251 b, 9/9; 100’8 37/6; 200’s, 69/-; loose s|d lb. Cheese, 1/2; matured, 1/4. Onions, 7 lbs 1/-. FRUIT AND VEGETABLES.

Business has been on the quiet side in local fruit markets during the week. Fairly heavy supplies of apples are forward, consisting principally of Delicious. For really choice samples, sales are brisk, but the bulk of the consignments are of secondary grades and are difficult to place. Large consignments of pears are coming to hand, and for choice desserts there is a keen demand. There is, however, a slow sale for cookers. Quinces are in short supply. Fair supplies of tomatoes are forward from Christchurch, but the bulk are affected by frost, and are very difficult to sell. The market is bare of oranges, and the next supplies are due from Wellington on Wednesday or Thursday of next week. Fiji bananas and mandarins are expected on the market on Saturday, and as consignments will be a little heavier this time, the price can be expected to be easier. Lemons are in short supply. Vegetable marrows are in over supply. A good demand exists for choice cauliflowers and cabbages. Current prices for the week are as follows—Delicious apples (beat desserts) to 12/6 a case, (2nd quality) 7/- to 9/-;

Cleopatras to 9/6; Jonathans to 10/-; cooking apples (large samples) 24d a lb; (small and inferior) 3/- to 5/- a case. Pears—desserts, Winter Coles and Nelis 2Jd to 3d a lb; cookers 14d to 2d a lb; quinces 2d to 24d a lb; tomatoes (good condition) 2d to 4d lb; (green and frosted) Id to lsd per lb; oranges, to arrive; bananas and mandarins to arrive; Italian lemons to 40/-. Vegetables.—Marrows to 9/- per cwt; cauliflowers 4/- to 9/- per dozen; cabbages 2/- to 3/- per dozen; carrots 7/6 per cwt; parsnips 9/- per cwt. WHOLESALE AND RETAIL.

Sugar—The Wanaka shipment has now been distributed and supplies are again normal.

Flour.—As from to-day, the price of flour will be reduced by £l, to £l9 per ton. The price of bran will be £9 and pollard £lO per ton. Advice received to-day from Sydney is to the effect that owing to the heavy export of wheat from Australia prices are likely to advance over there, unless these export shipments are curtailed. Bacon.—Local cure is now a little more plentiful, but supplies are not yet equal to the demand.

Hams are still unprocurable. English coarse salt is almost out of stock.

Vinegar.—Supplies of bulk have been hard to obtain for some weeks past, the manufacturers state the demand during the past three months has been quite exceptional, and it will take at least another three weeks to pick up arrears. Prunes just to hand, show an increased cost.

Mildura Fruits.—New season’s are now coming to hand. The quality is particularly good this season.

DAIRY PRODUCE. LONDON MARKET QUOTATIONS. Messrs Dalgety and Co., Ltd., report having received the following advice from their head office, London, under date of the 29th inst: — Butter: Since our last wire prices are 4/- higher. Spot prices are: New Zealand 170/-, New Zealand exceptional 176/-. TALLOW. THE LONDON MARKET. Dalgety and Co., report receipt of advice from London as follows: — At the tallow sales this week, 850 casks were offered, of which 200 were sold. Prices are unchanged to 6d lower. Mixed sold at 44/-. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. DUNEDIN, April 30. Sale: New Zealand Refrigerating (cont.) 10/3. Sales reported: National Bank £7 1/-, £7 1/6; Huddart-Parker (ord.), 43/6. CHRISTCHURCH, April 30. Sales reported: New Zealand Government 44 per cent. Inscribed (1938) £97 2/6, 54 per cent Inscribed (1933) £lOO 15/-; North Canterbury Hospital 5$ per cent.; Debentures (1932) £97 5/-; Whitcombe and Tombs 70/6, National Bank of New Zealand £7 1/-, (two parcels) £7 1/6, £7, £7 1/6, £7 1/-, £7; New Zealand Guarantee Corporation (cum. rights) 10/-, Bawra 11/3. Sales on ’Change: Bank of New South Wales £4l 2/6; Christchurch Tramway 54 per cent. Debentures (1944), £97, New Zealand Farmers’ Co-op. (64 per cent, stock, 1930), £BB. AUCKLAND, April 30. Sales: War Loan (1938) £97 2/6; Sok diers’ Inscribed Stock £lOO 17/6; New Zealand Breweries Debentures 22/-, City of Auckland Debentures, 1929, 5? per cent., £95 10/- and £96; New Zealand Insurance 31/7; Huddart-Parker 43/9; Northern Steam (cont.), 6/9; Wellington Woollen £6 3/6; Abraham and Williams 82/-, Milne and Choyce Debentures 23/3; Farmers’ Fertilisers 100/-. P. AND 0. COMPANY. BIG INTERIM DIVIDEND. LONDON, April 29. The P. and O. Company’s interim dividend is 12 per cent, (tax free.)