FINANCE AND COMMERCE

Taranaki Daily News, 25 August 1931, Page 16

FINANCE AND COMMERCE

FIRM MARKET FOR BUTTER. CHEESE VALUE MAINTAINED. The London butter market remained firm last week at an advance of 2s. a cwt. on the previous week, but it was quieter at the close. New Zealand finest salted was quoted on Friday at 114 s. to 116 s. and up to 118 s. a cwt. Danish showed a rise of Ba. to 10s. a cwt., the “spot” quotation being 130 s- to 1345. The retail price of New Zealand butter in London is unchanged at Is. 2d. a pound, and danish has advanced Id. to Is. 3d. The cheese- market is steady, New Zealand at 625. to 655. being a shade in advance of Canadian new season’s. The London office of the Dairy Board gives the following quotations as ruling cn Friday, those for the previous week beir.g shown in parentheses: — BUTTER. New Zealand, salted, 114 s. to 116 e., ex. 118 s. (112 s. to 1165.; August 22, 1930, 1275. to 1325.); unsalted, 112 s. to 1165., ex. 118 s (114 s. to 118 d.; August 22, 1930, 1345.). 114 s. to 116 s. equals approximately 11 7-Bd. per lb. f.0.b.; first whey, 106 s. ('1065.); second whey, 104 s. (1045.). Australian, salted, 110 s. to 112 s. (109 s. to 112 s.); unsalted, 109 s. to 112 a. (110 s. to 1145.). • ' ' Danish, 1285., f. 0.0.; 130 s. to 1345. spot (1225. to ,1245.). Dutch, unsalted, 120 s. to 1265. (112 s. to 1165.). Esthonian, unsalted, 112 s. to 114 s. (110 s. to 1135.). . Latvian, unsalted, 110 s. to 113 s. ( —). Siberian, 935. to 945. (925. to 945.). Polish, salted, 945. to 965. (90s. to 965.); unsalted, 945. to 100 s. (90s. to 100 s.). Lithuanian, unsalted, 106 s. to 112 s, The board has received the following advice from its agents in Canada: Butter: New,York, 29 c.'nts (Is. 23d.); Montreal, 22 1-8 cents (11 l-16d.) per lb. CHEESE. New Zealand, white, 625. to 635. (61s. to 635.; August 22, 1930, 745. to 765.); coloured, 645. to 655. (635. to 645.; August 22, 1930, 80s. to 81s.). 625. to 655. equals approximately 6.06 d. per lb. f.o.b. Australian, white, 61s. (60s. to 6ds.); coloured, 625., 635. to 645. (Gls. to 625.); Canadian, white and coloured, 665. to 725. (68s. to 725.) (645. to' 725.; new season’s white, 625. (Gls. to 635.); coloured, 635. (625. to 655.); c.i.f., 61s. 6d. (605.). . . English finest farmers, 70s. to 755; (70s. to 755.). ADVANCE IN FROZEN MEAT. KEEN DEMAND FOR LAMB. ' Lamb market: Lambs, 2’s and B’s are very firm. Prices have hardened considerably and consumption continues excellent. Heavyweight firm at unaltered prices. Mutton market: Firmer for lightweight wethers and ewes and prices have advanced. Heavyweight market firm, but quiet. Beef market: Slightly better demand for frozen beef, but New Zealand beef spot stocks light. New 1 Zealand porker pigs: Rather more interest is being taken in lightweight pigs.. New Zealand baconer pigs: Remain quiet. The above report was received on Saturday by the New Zealand Meat Producers’ Board from, their London office, which advises that the following are the approximate average prices realised for the week, 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 Londonstores. Prices for the two previous weeks are also shown:—

New Zealand sheep: Canterbury and North Island selected crossbred wethers and maiden ewes, 48 to 561 b., 5 l-Bd. (5d., 4 7-8 d.); 57 to 641 b., 4 7-Bd. (4|d., 4 5-8 d.); 65 to 721 b., 4|d. (4|d., 4|d.). North Island crossbred wethers and maiden ewes, 48 to 561 b., sd. (4 7-Bd., 4td.); 57 to 641 b., 4|d. (4 5-Bd., 4Jd.); 65 to 721 b., 4 3-Bd. (4Jd„ 4|d.). Ewes, 48 and under, 4 3-Bd. (4|d., 4 l-8cl.); 48 to 641 b., 3 7-Bd. (3|d., 3|d.); 65 to 721 b., 3>5-Bd. (3 5-Bd., 34d.). New Zealand lambs: Canterbury, 361 b. and under. 7 7-Bd. (7Jd„ 7id.); 37 to 421 b., 7 5-Bd. (7 3-Bd., 7 3-8 d.); 43 to 501 b., 6 7-Bd. (same); second quality, average 331 b., 7 5-Bd. (7£d., 7jd.). Other South Island brands, 361 b. and under, 73d. (7 3-Bd. 7|d.); 37 to 421 b., 7jd.' (73d., 7 l-8d.); 43 to 501 b., 6|d. (same). Selected North Island brands, including Downs, 361 b. and under, 8 l-Bd. (7jd.,. 73d.); 37 to 421 b., 71d. (7icl., 7Jd.); 43 to 501 b., 6 7-Bd. (same); second quality average 311 b., 7 5-Bd. (73d., 73d.). Other. North Island brands, first quality, 361 b and under, 7; 5-Bd. (73d., 7 l-8d.); 37. to 421 b., 73d. (7d., 7d.,); second quality, average 311 b., 7 5-Bd. (73d. 7 l-Bd.).

Australian ; lamb: Victorian, first quality, 361 b, and under, 6 7-Bd. (6 5-Bd., 6 5-Bd.j; 37 to 421 b., 6-Jd. (same). Argentine lamb: First quality, 361 b.. and under, 7d, (63d., 61d.); 37 to 421 b., 6 5-Bd. (6Jd., 63d.). ' New Zealand: Not quoted. Argentine chilled beef: Ox fores, 3. 5-Bd. (33d., 25-8 d.); ox hinds, 73d (7fd., 7 l-Bd.).' Australian frozen beef: Ox crops, over 1001 b., 2 5-Bd. (2Jd., 23-8 d.); ox hinds, over 1601 b., 3 7-Bd. (33d., 33d.). New Zealand prime porker pigs: 60 to 1001 b., 6 l-Bd. (6d., 6d.); 101 to 1201 b., 5 5-Bd. (53d., 53d.). New Zealand prime baconer pigs: 121 to 1801 b., 53d. (—, 53d.). New Zealand frozen veal: Not quoted. MOTUROA OIL PRODUCTION. GOO BARRELS NOW STORED. “Moturoa Oil Fields Ltd’s No. 2 well produced 250 barrels cf crude oil by selfflow through the 83in casing, making a total quantity of 600 barrels stored to date,” reports the company. “The debris has been cleaned out and a perforated screen set at between 2075 ft and 2090 ft.” CHEAPER RETAIL BUTTER. WELLINGTON PRICE REDUCED. The Wellington wholesale price of butter was reduced a penny per pound-to-day. Standard brands are now selling at Is 2d io Is 3d per pound. SHAREMARKET TRANSACTIONS. Auckland, August 24: Government Bonds, 1937, 53 per cent., £.lOO ss; Inscribed Stock, 1937,. 53 per cent., £100; Inscribed' Stock, 1933, 53 per cent, (two parcels), £99 10s; Inscribed Stock, 1939,