FINANCE AND COMMERCE

Taranaki Daily News, 17 February 1931, Page 12

FINANCE AND COMMERCE

FROZEN MEAT’MARKET WEAK. CONTINUED SELLING PRESSURE. Lamb market—Prices easier owing to heavier supplies and continued selling pressure of Australian and South American lamb. Despite cold weather consumption good for time of year. Mutton market: Wethers easier. Although prices very low, demand is only poor. Cheap South American lamb is still filling mutton demand. Ewes: Market is dull and. sales are difficult to make. Frozen beef: Market is depressed owing to extremely low prices of Argentine chilled beef. New Zealand porker pigs: Market is overloaded with frozen pork, but demand has improved slightly with lower prices. New Zealand baconer pigs: Nominal prices. Sales are difficult to make owing to low prices of Continental ■bacon.

The above report was received, on Saturday by the New Zealand Meat Producers’ Board from its London, office, which, advises that the following are the approximate average prices realised for the week ended February 13, based on actual transactions of wholesale quantities of the descriptions of meat mentioned, and are for representative parcels of the goods offering during the week, being for business done on the basis of delivered to Smithfield market, and/or ex London stores. Prices for the tw’o previous weeks are also shown:— New Zealand sheep.—Canterbury and North Island selected crossed wethers and-maiden ewes, 48 to 561 b, 3|d (41-Bd, 4 J / 4 d); 57 to 641 b, 3 l / 2 d (3%, 31-Sd); 65 to 721 b, 3y 2 d (3 5-Sd, 4d); North Island crossbred, wethers .and maiden ewes, 48 to 561 b, 3fd (3fd, 4cl); 57 to 641 b, 3Jd (3jd, 3 7-8 d); 65 to 721 b, 3 ! /,d (3 5-Bd, 3 7-Sd); ewes, 481 b and under, 2fd (3 I-Bd, 3Jd); 48 to 641 b, 23-8 d (2|d, 31-8d);~65 to 721 b, 2|d (2Jd, 2%d).

New Zealand lambs.—Alt new season’s Canterbury, 361 b and under, 7fd; 37 to 421 b, 7fd; 43 to 501 b, not quoted; second quality, average 331 b, 6d; other South Island brands, not quoted; selected. North Island brands (including Downs), 361 b and under, 7 5-8 d (Bd, 8£d); 37 to 421 b, 7 5-8 d (Bd, 8id); 43 to 501 b, not quoted; second quality, average 311 b, 6d (6%d, 6fd). Other North Island brands, first quality, 361 b and under, 7d (7Jd, 7fd); 37 to 421 b, 7d, (7 l / z d, 73d); second quality average, ‘3llb, 5%d (6 l-Bd, 6Jd). Australian lambs.—Victorian first quality (new season’s), 361 b and under, sfd (6d, 6Y 2 d); 37 to 421 b, sjd (6d, 6%d). Argentine lamb.—First quality (new season’s), 361 b and under, sj)d (sfd, 5.? d); 37 to 421 b, 5Jd (5%d, 5Jd). New Zealand beef not quoted. Argentine chilled beef.—Ox fores, 3d (3jd, 3 5-8 d); ox hinds, 5d (53d, 5 3-8 d). Australian frozen beef. —Ox crops, over 1001 b, 23d (3 l-Bd, 3 l-8d); ox hinds, over 1601 b, 4d (4d, 41-8 d). New Zealand prime porker pigs.—6o to 1001 b 5d s%d); 101 to 1201 b, 41d (5d,. sd).

New Zealand prime baconer pigs.—l2l to 1801 b, 5d (53d, sid).

New Zealand frozen veal, not quoted.

ACTIVITY IN DAIRY PRODUCE. The improvement in the London butter market continued, and prices advanced. 8s a cwt during last week, Friday’s quotation being 120 s to 1245. The markept is active and the outlook is promising, owing to the good demand and the favourable position of stocks. Retail prices were unchanged last week, New Zealand at Is 3d and Danish at Is sd, 'but an advance was to have been made yesterday. The cheese market is described by the Dairy Board’s London office as active for New Zealand and quiet for Canadian. New Zealand white is quoted at 55s to 58s, and coloured at 56s to 58s, with up to 60s being paid for some lines. The above prices represent an advance of up to 5s a cwt on the week. The retail price of New Zealand cheese in London is unchanged at 9d a lb. The Dairy Board’s London office gives Friday’s prices as follow, those for the previous week being shown in parentheses: —• Butter. New Zealand, salted, 120 s to 124 s (114 s to 116 s; February 14, 1930, 150 s to 1525); unsalted, 124 s to 128 s (116 s to 120 s; February, 14, 1930, 164 s to 1725); first whey, 118 s (108 s second whey, 116 s (106 s Australian, salted and unsalted, 118 s to 122 s (Ills to 113 s; 112 s to 114 s). Argentine, unsalted, 116 s to 120 s (110 s to 114 s). Danish, 150 s, f.o.'b.; 152 s to 'lsBs, spot (1365; 1425). Dutch, unsalted, Isos to 152 s (150 s to 1525). Polish, 114 s (108 s Cheese. New Zealand, white, 55s to 58s (51s to 53s to 545; February 14, 1930, 90s); coloured, 56s to 58s ex 59s (51s. to 53s to 545; February 14, 1930, 88s to 89s). Canadian, white and coloured, 74s to 78s (70s to 76s to 78s). English finest farmers, 100 s to 106 s (100 s to 106 s). Deliveries and stocks.

The Empire Marketing Board’s estimate of stocks of all butters as at February 7 was 280,514 boxes, which compared with previous dates as follow:—•

Deliveries of New Zealand butter for the week were 2350 tons,- as compared with 1179 tons a year ago. The quantity in store, excluding 22,500 boxes ex Turakina, is 4050 tons as compared with 5088 tons a year ago.

Deliveries of New Zealand cheese for the week were 29,000 crates, as against 16,936 crates a year ago. The quantity in store, including 7000 crates ex Karamea and 7000 crates ex Remuera, is 96,000 crates as compared with 50,189 crates a year ago.

The position of recently arrived shipments from New Zealand is as follows: Tongariro finished unloading cheese February 6 and butter on February 10. Westmoreland finished, unloading butter February 6. Turakina finished unloading cheese February 11 and butter February 12. Remuera finished discharging cheese February 12, and. started, unloading butter same day. Karamea started unloading cheese February 11.

Deliveries of Australian butter for the week were 2212 tons, as against 1162 tons a yeai- ago. The quantity in store is 1450 tons, as against 2775 tons a year ago. Deliveries of Canadian cheese for the week were 3385 boxes, as against 4850 boxes a year ago. The quantity in stoie is 167,836 boxes, as compared with 140,376 boxes* a year ago.

STOCK MARKET REPORT.

KOHURATAHI SHEEP FAIR.

The sheep fair held at Kohuratahi on Wednesday last by Messrs. Newton King, Ltd., was the most successful of any of the series of back country fairs held this season. The quality of the sheep yarded was of the very best, and this was reflected in the prices paid.

Right from the commencement of the sale, buyers showed their appreciation of the stock by bidding freely and - consequently the full yarding was disposed of in good time. Vendors assisted materially by showing their willingness to meet the market. Prices throughout were remarkably steady, there being no false prices paid at the beginning of the sale by pin-chasers anxious to fill up early and thus leaving later lines to go at reduced rates. Buyers -were not able to fill their requirements. A’large bench of buyers was present, coming from all parts of Taranaki. Two special trains were needed to transport the stock from the sale to the various purchasers. Details of some of the lines sold are as follows: —111 4 and 5-year ewes, on account Mr. J. A. Kjestrup, 9s Id; 123 4 and 5-year ewes, on account Mr. J. Yarrall, 10s Id; 141 4 and 5-year ewes, on account Mr. W. B. West, 10s; S 6 4 and 5-year ewes, on account Mr. S. Ilarre, 9s 6d; 123 4 and 5-year ewes, on account Mr. J. Harre, 7s lOd; 39 6-year ewes, on account Mr. S. Fraser, 5s 9d; 97 4 and 5-year ewes, on account Mr. A. C. Milne, 9s Id; 90 4 and 5-year ewes, on account Mr. G. H. Corbett, 10s; 237 4 and 5-year ewes, on account Mr. G. Gower, 7s Id. In rather low condition: 100 4 and 5-year ewes, oh account Mr. E. F. Oliver, 7s 7d. Also 12s 3d for a line of small 2-tooth ewes on behalf of the same vendor and 7s 7d for 2-tooth wethers.

A fine line of 2-tooth wethers on behalf of Mr. J. Yarrall realised 9s.

Ewe lambs bred by Mr. J. A. Kjestrup realised 7s 8d and his wether lambs 5s 4d. ’

The balance of the lambs yarded were more or less on the small side and made from 3s 4d to 6s 3d.

Two-tooth Romney rams on account of Mr. C. K. McCutchan fetched from to l%gns. Mr. J. Henderson, of Fern Flats, Marton, also offered a consignment of 2-tooth Romney rams and all were sold at from 2gns to 4gns. Rams on behalf of Mrs. S. G. Guthrie, Elthani, made up to Ijgns. A pleasing feature of the sale was the apparent return of confidence among the sheep men as to the outlook for their products for the next season. NEW COMPANY REGISTERED. The Mercantile Gazette gives the following details of the registration of a new company: Hawera Milk Supply Co., Ltd., registered as a private company, January 29, 1931. Capital, £6OO, into 600 shares of £1 each. Subscribers: Hawera —A. B. Bulmer 260, B. L. Haseltine 160, A. E. Haseltine 180. Objects: To carry on the business of milk vendors, dairymen, market gardeners and producers of £ll dairy farm and garden produce, etc.

August 22 ...... ... 1,002,346 September 6 ..., .... 067,442 September 20 ... ,... 887,614 ,... 828,584 October 18 .... 743,389 November 1 .... 613,645 November 15 .., ,... 438,361 December 1 .... 320,380 December 15 .... .... 276,010 December 27 ... .... 252,141 January 10 ..... .... 235,114 January 24 ... 301,312 February 7 ..... ,... 280,514