FARMING AND COMMERCIAL

Manawatu Standard, Volume LIII, Issue 23, 23 December 1932, Page 5

FARMING AND COMMERCIAL

DAIRY PRODUCE. . . BUTTER SLOW;. CHEESE STEADY. The New Zealand Loan and Mercantile Agency Coy., Ltd., have received the following advice from the London house, dated December 21:—Dairy produce (last week’;) quotations in parenthoses) : Butter, N.Z. choicest salted, 84s per cwt., slow (82s). Cheese, white, 51s-52s per cwt; slow (525-545). Coloured, 565-57 s per cwt., small supplies (545-555). Dalgety and Co., Ltd., are advised as under date December 21: —Market for butter and cheese of a holiday'character. Butter: Danish, 122 sto 124 s (122 sto (86s to 88s); finest salted, 82s to 84s (80s to 82s). Australian, finest unsalted, 86s to 90s (86s to 88s) ! finest salted, 82s to 84s (80s to 82s); g.a.q., 80s to 81s (78s to 80s). Cheese : N.Z. white, 51s to 52s (51s to 535); coloured, 56s to 57s (53s to 555). (Last week’s quotations are shown in parentheses). SHIPPING ALLOTMENTS.

The Dairy Produce Board forwards advice of the following shipping allotments: —

FROZEN MEAT.

PRICES UNCHANGED. M. A. Eliott, Ltd., have received cable advice from Gordon, Woodroifc and Co., Ltd., London, of the following Smithfield prices for tho week ending December 22, 1932 (these prices arc on tho “delivered” basis, that is, including storage charges, cartage, etc.) : —Best North Island prime lambs, under 361bs, 36-42, 42-50, not quoted; ordinary North Island lambs, under 42, not quoted; second quafitv, under 42, not quoted; best North Island wethers and/or maiden owes, 48-56 and 56-64 4ld, 64-72 and over 72 41 d; ordinary North Island wethers and/or maiden ewes, 48-56 and 56-64 4|d, 64-72 and over 72 41d; North Island ewes, under 64 3|d, 64-72 and over 72 2|d. Prices nominally unchanged. AUSTRALIAN LAMBS. The present Australian lamb export season has been disappointing, as the quality of a large proportion of lambs submitted for shipment has been below average, according to Mr Ross Grant, the Federal veterinary ofiioer. “This,” says Mr Grant, “has been due mainly to lack of care in breeding by some producers, the result being a lamb not suitable for either wool or meat purposes. The production of this type of animal, if continued must prejudice the wool and meat industries of the Commonwealth.” The four months ended October 31, had been characterised mainly by unprecedented low prices for overseas frozen meat markets, the officer said. Consequently Australian exports had been considerably less than would have been the case in a period of normal values. The number of sheep treated for, export in all States showed a marked decrease on the figures for t-he corresponding period of 1931. Victorian figures for lambs wero well above those of last season, although there was a marked falling off in New South Wales, South Australia, and Western Australia. In the latter State, the season had been unfavourable; and the number of fat lambs produced had been much below expectation. This was disappointing, as Western Australian lambs had acquired a good reputation, and met with a ready sale in United Kingdom markets. The movement from city_ to farm in U.S.A., which commenced in 1929, was more than maintained in 1931. According to estimates made by the Department of Agriculture the farm population on January 1 last was 31,260.000 persons, representing an increase of 648,000 in the 12 months. Of the foregoing 207,000 were accounted for by excess of farmward migration over the movement of country people to cities. The surplus of births over deaths on farms totalled 441,000.

PALMERSTON NORTH WOOL, SKIN, HIDE AND TALLOW SALE.

Abraham and Williams, Ltd., report on their Palmerston North wool, skins and hidos salo_ held yesterday: The salo indicated a slight easing in values for most linos. Competition throughout was good, but in sympathy with recent overseas markets the rising values at our last sale wore not maintained. Wool met with a good demand at prices slightly lower than our last salo. Sheepskins: Competition was of tho best, particularly for fine, sorts which held their own, but others wore id lower. Salted skins wore firm. Hidos: All hides eased in valuo up to id per pound, but calfskins wero appreciably higher by id to Id por pound. The demand wa3 good for both classes. Tallow: Thero was good general competition with an easing tendoney of 6d por cwt. Tho following is tho range of prices :—Wool: Fine crosbsrcd, 5d to 53d; medium crossbred, 2jd to 3Jd; crossbred, 2d to 2id; dead, to IJd; crutchings, lid to Ijjd; bellies, and pieces, Id to ljd. Sheepskin: Dry, fine hoggets, to 3jfd; hoggets, 3d to 34d: fine crossbred, 3£d to 4d; three-quarter-full wools, to quar-ter-half wools, 2d to 2id; shorts, l£a to l|d; pelts, to lambs, to 3£d; dead, lgd to 32d; seedy, to 2\d; damagod, lid to 2d; inferior, damagod, Id to ; salted, pelts, 5d to 6d; damaged pelts, 3d to 4d. Hides: Ox, heavy to 4d, medium to 4gd, light 3gd to 4d; cow, heavy 3Jd to 4d, medium 33d to 4£d, light, 3£d “bid; y°arlings, 3id to sid, cut 2d to 3id; calf, heavy sid to 63d, light first 5d to 53d, cut 4d to 4|d, slippy 3d to 33d. Tallow: In drums, first 12s to 14s, second 9s to 11s 6d; tins, 7s 6d to 11s.

FEILDING SALE.

AUCTIONEERS’ REPORT.

The Now Zealanl Loan and Mercantile Agency Coy., Ltd., Palmerston North, report : At our Feilding sale on Wednesday wo had a small entry of both sheep and cattle. The attendance was small, probably owing to it being an off day, and prices were below those at recent sales. We quote: Fat lambs, 10s 7d. 11s, 11s 7d to 12s; fat ewes, 4s 7d to 4s 9d ; fat 2-tooths, 10s 6d; fat 2-tooths, woolly, 10s 6d. Fat cattle: Prime cows to £3 15s, prime heifers to £4 7s 6d, light cows and heifers £2 2s 6d to £3 7s, light bullocks £3 7s 6d. Dairy cows springing heifers £4 2s 6d, cows in milk £2 10s. Store cattle : 4-yr. rough steers, £2 12s, yearling P.A. steors, 295. WELLINGTON MARKETS. PRICES RULING YESTERDAY. WELLINGTON, Dec. 23. Tho following prices were realised at yesterday morning’s sales: Apples.—Stunners, 8s to 12s; Delicious, 6s 6d to 8s 6d; Dohertys, 5s to 6s. Local lemons, 13s to 15s, all per bushel. Nowseason’s cooking apples, 3s lid to 4s 4d per half-case. Peaches: L. VanquiCr, 2s Id to 3s; Hales, 2s 6d to 3s 2d: High Early, 2s 6d to 2s 8d; and Sneed’s, Is 6d to Is 9d per tray. Plums: Eban’s early, 4s 6d; Sharp’s early, 5s 6d to 6s 8d ; and Wright’s early, 2s to 2s 6d per half-case. Nelson tomatoes: Red, 9s to 9s 6cj; coloured, 7s to 8s per half-case.

Red currants, 4s; black currants, 4s 6d to 5s per tin. Gooseberries, 3s to 3s 3d per half-case.

Local potatoes, 4s to 4s 6d per bag; Canadian onions, 83 per crate.

Now laid eggs. Is sd; others. Is 4d per dozen. Separator butter, 6jd per lb; New Zealand walnuts, 6d per lb. Live poultry: Leghorn liens, 3s; geese, 9 s per pair. Dressed poultry: Hens, 2s 6d; ducks, 4s 6d per pair.

FARMING NEWS. RURAL RAKINGS. The Apjti Dairy Company’s payout was Bjd per lb for November butterfat. Our Bulls correspondent writes :—Farmers have been busy this week getting their lambs away to catcli the Christmas market. Others are shearing, haymaking or cropping. Dairymen would welcome rain, for the pastures are drying rapidly under the strong winds which have prevailed recently. A good . demand existed for hides and sheepskins at the fornightly sale held by Auckland brokers on Tuesday. There was a large offering and prices were generally on a level with the last sale, although there was an easing tendency in several lines. The quality was good. For tallow tho inquirj- was satisfactory. Best mixed sold slightly lowor, but others wero unchanged.

The total area of tho farm of Canterbury Agricultural College, Lincoln, is 1000 acres. Of that total, 450 acres are in crops or closed for hay or seed. The crops includo wheat, oats, barley, peas, linsc-ed, mangels, potatoes, turnips, rape and kale. On the remaining 550 acres are carried 1700 sheep, 110 cattle, and 186 pigs. On tho Ashley Dene farm of 870 acres, in crops thero are 210 acres and the remainder carries 1610 sheep. Herd-testing results for tho month of November on the West Coast are interesting and cover a large area, the Buller Association taking in Westport and tho country embracing Karamea in the north, to Inangahua Junction and Three Channel Flat on the south, and the Westfield district talcing in the balance of Westland and South Westland. In the Buller Association, 1072 cows, in 58 herds, were tested and showed a test of ’4.2 with a monthly averago of 1201 b. In tho Westland Association, 3516 cows, belonging to 336 herds, gave a good average test, the best herd being in Inangahua district and giving a 5.2 test, tho best cow. with a test of 8.0, belonging to an Arahura herd. In the course of a lecture delivered at a recent meeting of the Canterbury Fruitgrowers’ Association, Mr R. Sutherland, cool storage office, Department of Agriculture, said it had been discovered that New Zealand exported fruit was subjected to much bruising. It was suggested that special investigations should be made into the cause. In the past this had been attributed to rough handling during transport. Tho present methods undoubtedly aggravated it, but could not be said to be wholly responsible. It had been conclusively shown in last season’s exports that bad packing had been mainly responsible. In answer to a question, Mr .Sutherland said he blamed the lidding press. WEIGHT OF FLEECE. REASONS FOR LIGHTNESS. A good deal of discussion has arisen among Australian pastoralists upon the subject of weight of fleece this year compared with last. Among some flocks tho cut is Ijlb a head lighter. There aro cases where it is 21b lighter, and there .are not many instancos where the weight of fleece equals that of last year. The lower cuts have happened also where the sheep havo boon running on country with abundance of feed.

It is not so easy to find a satisfactory reason for tbo lighter clip generally, where a full year’s growth has been shorn from robust sheep, with ample feed throughout the year, comments the Australasian. Some say that tho sheep is not unlike a fruit tree, as far as tho annual yield is concerned. Similar to the treo. some years tho animal will produce a prolific growth, to be followed by a lighter yield in a year apparently as favourable. Woolgrowers with long memories have noticed this tendency time and again, but most of them believe there must bo something unseen yet different about the seasons to cause the fluctuations of wool yields. A good year following a drought is plainly . prolific, and sometimes the second good year after a drought is the best. This year, although apparently a prolific year for growth over most of the pastoral areas, has not, after all, been as good as most people thought. The mouse plague resulted in tho loss of much of the most nutritious young grasses and seeds. Rabbits also consumed much of the best, feed, and the sheep were left with the longer but inferior feed. There are other explanations of the lighter yields, and this year, in many parts, thero is a ranker growth than before. The subject is of groat interest to pastoralists, some of whom also assort that breeders have been trying to pack too much wool on their sheep, and tho ponalty is suffered in a lower yield at a time when other factors pointed to a record growth.

WELLINGTON . STOCK EXCHANGE. CLOSING OF DIFFICULT YEAR. The closing of tho Wellington Stock Exchange yesterday marked the end of an eventful and difficult year for investors no less than for brokers. With few exceptions company results havo been a succession of losses or greatly reduced profits, and a record of reduced or passed dividends. Moreover, there has been tho disturbing effect of recent legislation and during tho last month talk of further reductions in interest rates has had a very unsettling effect on tho investment market. The following tabic gives a comparison of current market prices’ of tho more popu lar investment, shares with those ruling at tho close of last year:- — Dec. 1931. Dec. 1932

uays Dusincss nas Deeti quiet tins weeK, tne only demand of any note being for gilt edgod securities. Government securities havo shown a slightly firmer tendency. STOCK EXCHANGE SALES. Tho following sales wero recorded on the stock exchanges of the Dominion yesterday :—• Wellington.—N.Z. Breweries, £1 4s lid*. *Late sale Wednesday. Auckland. —Govt. Bonds, 5i p.c., Fob., 1937, £99 2s 6d; Auckland Harbour Board, 5 p.c., 1935, £95; Auck and Gas, £1 Is; Australian Glass, £1 18s; Inscr. Stock, 5 k p.c., Feb., 1937, £99 ss; Bank of New South Wales, £26 10s, £26 15s. Christchurch. —Sales on ’Change : Bank of New Zealand, £2 Os 9d, £2 Is; Big River, Is 2id; Consolidated Goldfields, cum. div., 9s; Nokomai (2), 5s 9d; Golden Point (3), 3d; King Solomon, cum. div. (2), 2s 6d. Dunedin.—Sales on ’Change: Bank of New Zealand, £2 Is, £2 0s 9d. Sales reported: National Ban! of N.Z., cum. div., £3 6s*; Okaiito, 8s 7d *Late sale Wednesday. SYDNEY STOCK EXCHANGE. CLOSES IN OPTIMISTIC MOOD. SYDNEY, Dec. 22. Tho Sydney Stock Exchange closed for the year at noon to-day. Members were in a cheerful, optimistic mood. Tho exchange reopens on January 5. P. AND O. DEFERRED SHARES. LONDON, Dec. 21. P. and 0. dcferrec. shares sold to-day at 13s 9d. Mount Lyell shares sold at 15s 9d. RATES OF EXCHANGE. LONDON, Decv. 9. The following rates on foreign exchanges were current to-day, 03 compared with

GOLD AND SILVER. LONDON, Dec. 21. Gold. —£6 3s 5d per fine ounce. Silver. —Cash, 16 11-16 d per ounce; forward, 16 11-16 d. WHEAT MARKETS. MONTREAL, Dec. 21. Chicago wheat futures: December, 44| cents; May, 461 cents; July, 46i cents. New York, cash, 533 cents. AUSTRALIAN MARKETS. SYDNEY, Dec. 22. The wheat market to-day was dull. Sellers indicated 2s 8d a bushel for both bagged and bulk, while in tho country 2s to 2s Old was offering for bagged and Is lid to Is llid for bulk, equal to 2s 7id ex trucks at Sydney. Flour, £9 10a a ton. Bran, £4 15s a ton. Pollard, £5 10s a ton. Potatoes: Tasmanian, £6 10a; Victorian, £4 10s a ton. Onions, Victorian Globes to £6 10s a ton Oalon hay, £7 a ton. Maize, yellow, 5s 8d; white, 5s 3d a bushel. ADELAIDE, Dec. 22.

Wheat: Growers’ lots, 2s to 2s 7d a bushel. Flour, £7 10s a ton. Bran, £5 7a 6d a ton. Pollard, £5 17s 6d a ton. Oats, Is 5d a bushel.

Approximately Doin. Totals. Saih. U.K. Butter. Choeso Dec. Jan. Boxes. Crates Rangitano .... 23 25 85,500 25,034 Huntingdon .. 23 Feb. 3 45,058 16,569 Otaio Jan. 4 7 74,000 24,000 (West Coast) Rualiine ft 13 50,000 18,000 Ft. .Brisbane 7 14 26,000 14,000 Pt. Sydney .. 10 19 20,000 6,100 Ionic 11 20 54,000 13,400 Pt. Hunter .. 14 20 80,000 20,500 Rangitata 20 22 50,000 27,000 Taranaki 24 Mar. 1 55,000 26,400 Mahia 25 4 80,000 22,000 Pakoha . 28 8 24,000 14,000 North’borland 28 9 67,000 22,500 (West Coast) Waimana Feb. . 2 13 46,000 10,300 Pt. Fairy 3 12 5,000 7,200 Tamaroa . 8 13 30,000 11,700 Ft. Caroline 8 19 20,000 7,100 Surrey . 10 20 68,000 22,500 (West Coast) Remuera . 18 26 45,000 12,000

Banks— £ s d £ s d Now Zoaland ... 2 5 6 2 0 3 N.S. Wales 28 10 0 27 0 0 Australasia 9 0 0 8 0 0 Comm, of Aust. 16 3 13 5 E.S. and A. .. 4 10 0 4 0 0 National of N.Z. 4 0 0 3 5 0 Union of Aust. 7 16 6 7 0 0 Financial — Dalgety 7 16 6 6 13 0 Goldsbrough, Mort ... 1 3 6 1 1 0 Insurance— New Zealand 2 0 6 2 1 0South British ... 2 13 9 2 12 6 National Gas — 13 0 — 1 4 0 1 1 4 Christchurch 1 6 2 1 4 6 Wellington General— 1 6 9 1 9 0 Gear Meat 1 6 6 1 4 6 N.Z. Breweries 1 8 9 1 4 6 British Tobacco 1 6 0 1 7 6 Kauri Timber .. 10 6 6 0 Mount Lyell ..... 1 0 3 18 4 Colonial Sugar .. 40 0 0 46 0 0 In view of tho approach of the holi-

par: — Par. Dec. 21. Now York, dol. to £1 3.33 11-16 4.866 Montreal, dol. to £1 . 3.84 4.866 Paris, francs to £1 .... 85.50 124.21 Brussels, bel. to £l . 24.12 35.00 Geneva, francs to £1 . 17.335 25.225 Amsterdam, florins to £1 8.315 12.107 Milan, lire to £1 65 3-16 92.46 Berlin, marks to £1 . 14.005 20.43 Stockholm, knr. to £1 18.325 18.159 Copenhagen, knr. to Oslo, knr. to £1 £1 19.295 18.159 19.40 18.159 Vienna, sehgs, to £1 *28.50 34.585 Prague, knr. to £1 . 112.75 164.25 Hel’fors, marks to £1 229 193.23 Madrid, pes. to £1 40 31-32 25.225 Lisbon, esc. to £1 .... 109.75 110 Athens, drach. to £1 625 375 Belgrade, din. to £l . 250 276.31 Bucharest, ei. to £1 565 813.60 Warsaw, zloty to £1 . — 43.38 Rio de J., p. to mil. *53 5.899 B. Aires, p. to peso * 47.62 M. Video, p. to peso *30 51 Calcutta, p. to rup. . 18 11-64 — Shanghai, p. to tael . Yokohama, p. to yen 20 15| 24.582 II.-Kong, p. to dol.' 15g — Batavia, trl. to £l .... — 12.107 ’Nominal. PRICES OF METALS. SYDNEY, Dec. 22. The official London (m ddlei quotations for Wednesday as received by the Auslian Mines and Metals Association compare kb follow .Tith those previ ously cabled: —

Dee. 20. Dec. 21. Per ton. 1'er ton. Copper— £ ». d. •£ •. d. Stndard, spot ... 28 15 0 28 4 4i - Standard, spot ... 28 15 0 28 4 4i .... 33 10 0 33 15 0 to 34 10 0 34 5 0 Wire bars .... 34 10 0 34 5 0 Lead— Spot .... 11 3 9 11 1 3 Forward •? .... 11 11 3 11 8 9 Spelter— Spot .... 15 8 9 15 6 3 Forward ... 15 8 9 15 6 3 TinfSpot ... 149 2 6 148 17 6 Forward .... 150 11 3 150 3 9 Silver— Standard, per oz .. 1615-16d 16 ll-16d Fine, per oz .... .... 18Jd 18d not quoted. tAmerican, not quoted.