FARMING AND COMMERCIAL

Manawatu Standard, Volume LIII, Issue 27, 29 December 1932, Page 10

FARMING AND COMMERCIAL

DAIRY PRODUCE. THE BUTTER MARKET. NO FORWARD SELLING. As a. result of the weakness in the London butter market, agents have reduced forward offers to 9d lb, f.0.b., but there have been no sellers at that price, says a report from Auckland. AUSTRALIAN PRICES IN LONDON. SERIOUS LOSSES SUSTAINED.

So serious have been the losses suffered by, the dairying industry this season that dairymen, butter factories and traders aro seeking to devise plans to bring about an improvement, of conditions in the London market, says the Melbourne Argus. Recently the Dairy Produce Export Board adopted the expedient of withholding from shipment 20 per cent, of tho supply sent, forward from the factories each week. This had no effect on prices in London, whore Australian butter is selling at 84s a cwt, compared with 124 s a cwt quoted for Danish butter. In January an important meeting of the Dairy Produeo Export Board will be held in Melbourne, and selling methods will bo subjected to severe criticism. Agents in Australia have sold large quantities of butter to London merchants for forward delivery. These forward selling offers have, according to reports from London, dopressed the market. When Australian butter was quoted about 95s a cwt in. October sellers in Australia were offering to supply butter for shipment in the second half of November at 89s a cwt, or even less. It is contended that such methods of business have had a very depressing effect on tho market. At the meeting of the board next month the discussion will centre on the merits or demerits of the f.o.b. and c.i.f.e. methods of selling, as opposed to the consignment of butter to the London market for sale at the best price ruling when the butter is landed. Consignment sellers this season have lost heavily, anti tljo.se who sold butter before it left Australia have been able to show good returns. Opposition to the proposal that only consignment sales should Vie permitted Is therefore strong, and keen discussion is expected when the matter is brought before the export board. In the mtsiitime other plans for improving tho price of Australian and Now Zealand butter are being discussed. The Lxport Board lias under its constitution power to control tho sale and export of butter from Australia. It has been suggested that in conjunction with the New Zealand Dairy Beard it would bo possible to place a price on butter in London higher than that now ruling. If the two boards instructed accredited selling agents in London nor to sell Australian or New Zealand butter at less than a certain price buyers might bo induced to pay more. At present Australia and New Zealand are supplying about 75 per cent, of the butter imported into Great Britain, and therefore sellers are in a fairly strong position to negotiate with buyers for higher prices. At. 843 a cwt in London the price of butter is so low that producers in Australia receive little inoro than lOd a lb for their butterfat which is equal to loss than 4|d a gallon for milk. If theso low prices continue tho loss to the dairying industry will bo severe. LONDON MARKETS. HIGH COMMISSIONER’S REPORT. Tho Department of Agriculture lias received tho following cablegram, dated December 23, from tho High Commissioner for New Zealand, London:— Tallow: Market continues quiet. No material change in value. Hemp: Manila —Market dull and unchanged. Output January 1-Deccmbcr 12 852,000 bales, against 1,012,000 in the same period last year. Stocks in tho United Kingdom November 30, 21,526 bales, against 25,391. Stocks in Manila December 19, 155,000 bales, against 102,000. Sisal: Market quiet. No. 1 good marks January or February or March shipment £ls value. New Zealand market unchanged. No first hand sales reported. Stocks in London November 30, 84 tons, against 27 tons. Eggs: Market steady about at last rates quoted.

NEW ZEALAND WOOL FOR CANADA. PROSPECTS FOR INCREASED TRADE The likelihood of an increase in tho wool trade between New Zealand and Canada was foreshadowed by Mr Leslie Biggin, of Toronto, managing-director of the Canadian Wool Company, who arrived at Auckland by tho Niagara on Monday on a business visit. The manufacture of woollen goods was definitely increasing in Canada, ho said, and New Zealand crossbred and halfbred wools had proved highly popular. “Last year saw a record established in tho imports of New Zealand wool into Canada,” Mr Biggin said. “The total was between 9000 ami 10,000 bales and that amount is likely to increase progessivoly. The imports of New Zealand wool by my own company were practically doubled last year. The development of tho wool industry in Canada has coincided with tho period of low prices, but a future rise in the price of wool should not adversely affect tho growing trade. “Direct importing of New Zealand wool by Canadian firms may easily prove of considerable benefit to Now Zealand. Tho standardisation of the various varieties of wool is appreciated by Canadian, importers and there are definite prospects of increased trado, particularly if tho producers of slipo wool are sufficiently interested to ship direct to Canada instead of consigning to London. Direct shipments must prove mutually beneficial.” New Zealand wools. Mr Biggin added, enjoyed a considerable reputation in Canada. The demand was more for crossbreds than for Merino, and although Canada’s own wool clip was small, New Zealand was regarded ns an example to be followed in all experiments directed to the development of the industry. FARMING NEWS. RURAL RAKINGS. All our breeds of rattle, sheep and pigs aequirod their stamp of superiority under the care of such men as Bakewoll, Colling, Booth, Bates and Wobb, who succeeded in modelling the breeds they undertook to improve with tho inspiration that guides the chisel of tho sculptor and the brush of the painter (remarks a Homo writer). Ideal weather prevails in Southland (says the News) and after the heavy rains of a week or so ago pastures have now improved considerably. No doubt the winds experienced lessened the effect of tho good rains, but nevertheless growth has been exeeptionnlly good. Turnip crops have also benefited and are coining along very well and present prospects are that ample green food will be available for tho coming season. Farmers says the Yorkshire Post, with their traditional fear of inbreeding, have probably not appreciated nil that can he done without change of blood. And yet “lino” breeding, wo know, judiciously carried out has had pronounced results for good in all breeds of live stock. Professor E. Davenport, an Illinois authority on breeding matters, lias pointed out that fertility and vigour are not inevitably injured by close relationship, because inbreeding for those two qualities when combined in ono animal—rare though they arc together—is just as likely to he successful ns is to l>e the reverse when the other strain lacks these qualities. Selection for vigour and fertility will, in fact, diminish the ills of inbreeding, and has done so often enough to justify the process. CHICAGO WHEAT. NEW YORK. Dec. 27. Chicago wheat quotations: December, 423 cents; Mny-July, each 435 cents. New York, cash, 515 cents.