FINANCE AND COMMERCE

Taranaki Daily News, 2 August 1932, Page 12

FINANCE AND COMMERCE

DAIRY PRODUCE VALUES. CHEESE TRADE STEADIER. QUIET MARKET FOR BUTTER. The London butter trade is reported by the New Zealand Dairy Produce' Board to have been quiet during the past week. The market for cheese, however, is steadier. According to advice received by the board on Saturday, New Zealand salted butter is now quoted at 105 s to 106 s. This equals approximately 10 7-8 d per lb. f.o.b. New Zealand and Danish butters are retailing at Is 3d. The Empire Marketing Board estimates stocks of all butters in England at 876,218 boxes, as against 9'24,712 boxes this time last year. Deliveries of New Zealand butter during the past week amounted to 1290 tons, as against 1200 tons for the corresponding week a year ago. The quantity in store is 5002 tons, as against 6100 twelve months ago. Deliveries of Australian butter totalled 1362 tons, as against 1062 tons, and the quantity in store amounted to 5062 tons, as against 2564 tons. Information has also been received from the board’s agents in Canada that in New York butter is bringing 19 cents and in Montreal 17J cents per lb. New Zealand cheese is retailing at 8d per lb. White and coloured cheese is quoted at prices ranging from 54s to 575, which represents approximately a 3-8 d per lb. f.o.b. Deliveries of New Zealand cheese last week totalled 20,500 crates, as against 19,500 crates in the corresponding week of 1931. The amount in store is 81,500 crates, as compared with 146,400 last year. Canadian deliveries amounted to 7100 boxes, as against 5600 boxes, and in store there is 106,706 boxes, as against 165,254. Early last week the Kent sailed from New Zealand with 18,558 boxes of salted butter, 577 boxes of unsalted, 865 boxes of whey,. 7462 crates of white cheese, and 2842 crates of coloured cheese. The Dairy Board’s London office reports the following prices ruling on Friday, those for the previous week and the corresponding day last year being given in parentheses:— BUTTER. New Zealand: Salted, 105 s to Io6s, ex. 107 s (105 s to 107 s; 1931, 108 s to 110 s); unsalted, 108 s to 110 s (106 s to 110 s; 112 s to 116 s); first whey, 93s (965); second whey, 91s (’94s). Australian: Salted, 100 s to 103 s (102 s to 104 s); unsalted, 104 s to 106 s (106 s to 108 s). ' Argentine: Unsalted, 88s to 94s (88s to 925). ■* Danish: 95s f.0.b.; spot, 114 s to 115 s (105 s f.0.b.; spot, 120 s to 1235). Dutch: Unsalted, 118 s to 122 s (120 s to 1245). Esthonian': 90s to 94s (945). Latvian; 90s to 94s (945). Siberian; 86s to 87s. Ukrainian: 84s. Lithuanian: 90s to 92s (90s io 935). CHEESE. New Zealand: White, 56s to 57s (58s to 58s 6d; 1931, 60s to 61s); coloured, 545/55s to 56s (56s to 575; 1931, 62s to 635). Canadian: White and coloured, 57s to 59s (white, 57 s to 595; coloured, 575); ,c.i.f., 56s (575). English finest farmers’: 92s to 96s (92s to 945).

FROZEN MEAT TRADE. LOWER PRICES FOR LAMB. Advice received by the New Zealand Meat Producers’ Board from its London office states that the lamb market is weaker and that ©ver-supplies of all descriptions of meat continue. The market for wether mutton is steady. The lightweight ewe mutton trade is also steady, but heavyweight evre mutton shows an easier tendency. Owing to the low prices for Argentine chilled beef very little interest is being taken in th© frozen beef market. The market for New Zealand porker pigs is quiet and unchanged. Baconer pig prices are nominal.

The board advises that the following are the approximate average prices realised for the wek ended July 29, 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, beina- for business done on the basis of delivered to Smithfield, market and/or ex London stores (prices for the two previous weeks are also shown): — New Zealand Sheep: Canterbury and North Island selected crossbred wethers and maiden ewes, 481 b. to 561 b., 3Jd (34d, 34d); 571 b. to 641 b„ 3 l-8d (3 l-Bd, 3d); 651 b. to 721 b., 27-8 d (2 7-Bd, 2 7-8<l); North Island crossbred wethers and maiden ewes, 481 b. to 561 b., 3 3-8 d (3 3-Bd. 3 3-8 d); 571 b. to 641 b., 3d (3d, 3d); 651 b. to 721 b., 2fd (2 7-Bd, 27-8 d); ewes, 481 b. and under, (2£d, 2|d); 481 b. to 641 b., 2Jd (2£d, 23-8 d); 651 b. to 721 b., 2 l-Bd' (2ld, 2Jd). New Zealand Lambs: Canterbury, 361 b. and under, (5Jd, 5 5-8 d); 371 b. to 421 b., 5 l-8d (5 3-Bd, 5 5-8 d); 431 b. to 501 b., 5 l-8d (5 3-Bd, 5Jd); second quality, average 331 b., 4 7-8 d (sd, 5 1-Sd); other South Island brands, 361 b. and under, 5d (sjd, 5 3-8 d); 371 b. to 421 b., 5d (sid, 5' 3-8 d); 431 b. to 501 b., 5d (sid, 5 3-8 d); selected North Island brands, including Downs, 361 b. and under, s{d (51d, 5 5-8 d); 371 b. to 421 b., 5 l-8d (54d, 5 5-8 d); 431 b. to 501 b., 5 l-8d (aid, s£d); second quality,, average 311 b., 4 7-8 d (sd, 5 l-8d);’ Other North Island brands, first quality, 361 b. and under, od (5 l-Bd, Sid); 371 b. to 421 b., 5d (5 l-Bd, sid); second quality, average 311 b., 4;]d (sd, 5 l-8d). Australian Lamb: First quality, 361 b. and. under, 41d (4id, 4 5-8 d); 371 b. to 421 b., 4i<l (4Jd, 4 5-8 d). ’ > New Zealand. Beef: Ox fores, 2id (2-}d, 2.1 d); ox hinds, 3 3-Bd. (3 3-Bd, 3A<l); cow fores and. hinds, not quoted. Argentine Chilled Beef: Ox fores, 2Jd (2 3-Bd, 2d); ox hinds, sid (LJd, 4 3-8 d). Australian Frozen Beef: Ox crops, ©ver 1001 b., 2id (2id, 23-8 d); ox hinds, over 1601 b., 3£d (3id, 3Jd). New Zealand Porker Pigs: 601 b. to 1001 b., 4Jd (4£d, 41d); 1011 b. to 1201 b., 4id (4Jd, 4id). New Zealand prime baconer pigs, 1211 b. to 1801 b., 5d (sd, sd). New Zealand Frozen Veal: Not quoted.

SHAREMARKET TRANSACTIONS. Auckland, August 1: Sharemarket sales: Commercial Bank, 13a. IOJd., 13s. Ild., 13s. 10d.; Bank of New Zealand, 475. 3d.; Union Bank, £6 17 s. 9d.; National Insurance, 12s. 7d.; New Zealand Insurance, 40s. 6d.; Colonial Sugar, £42 (two parcels); Gear Meat, 325. 6d. Christchurch, August 1: Sales ort exchange: New Zealand Government, 4| per cent, inscribed, 1938, £96; New Zealand Government, 5i per cent, inscribed, 1936 (ex interest), £9B 11s. 3d.; Commercial Bank of Australia, 13s. 10d.; Goldsbrough, Mort, 225. (seven parcels); Westport, Stockton Coal (ord.), 5d.; Colonial Sugar, £4l 15s. (two parcels); Mount Lyell, 17s. 4d., 17s. 6d.; King Solomon, Is. Sd. Sales reported: Com-

mercial Bank of Australia (cum. div.), 13s. 9d.; British Tobacco, 28s. Id.; Colonial Sugar, £4l 155., £4l 17s. 6d.; Union Steam (pref.)), 205.; N.Z. Government, 5J per cent, bonds, September, 1937, £lOl os.; Goldsbrough, Mort, 252. Wellington, August 1: Sales on exchange: Goldsbrough, Mort, £1 Is. lid.; Tooth’s Brewery, £1 6s. 3d.; Bank of New Zealand, £2 7s. 6d. Sales reported: New Zealand. Government, 4$ per cent, stock, 1939, £96 (late Saturday); 5J per cent, stock, September,, 1937, £lOl ss. (late Saturday); per cent, bonds, 1935, £9B 10s.; National Bank of New Zealand, £3 9s. 6d. (late Saturday); Bank of New Zealand, £2 7s. (two sales, late Saturday); Gear. Meat, £1 12s. 3d. (late Saturday); Union Steam (pref.), £1 (late Saturday); Goldsbrough, Mort, £1 Is. lid.; Tooth’s, £I.6S, 4d.; Waihi Gold Mining, 15s. 6d. MOTUROA OIL PRODUCTION. By self-flow Moturoa Oil Fields Ltd.’s No. 2 well produced 120 barrels (4200 gallons) during the week ended on Saturday. Two days were occupied, cleaning the tubing. The total production to date i5'221,194 gallons.