COMMERCIAL NEWS.

Hokitika Guardian, 10 January 1922, Page 3

COMMERCIAL NEWS.

ARAHURA FAT STOCK SALE. At the above yards' yesterday the first fat stock Sale of the New Year was held, the yarding comprising 17 fat sheep, 34 fat lambs and 51 head of cattle. There was a moderate attendance of buyers, but competition was by no means keen and butchers secured only hand to mouth requirements. Prices were probably the lowest of the year though butchers say they are now more in keeping with Addington than was the case in the early Spring. Ox Beef made from 24s to 30s per hundred and heifer beef ranged from 21s to 27s 6d per hundred and in the case of one or two extra prime heifers the price was easily 30s per hundred. Messrs W. Jeffries and Co sold as follows: On account IT. Ivarnbach 17 fat sheep at 17s, 37 lambs at 16s. On account Mr .T. Donovan 17 lambs at 18s, and 13 lambs at 16s. On account Mr D. Roberts 1 bullock at £9, 2 at £7 12s 6d, 3 at £7 ss, 2 at £7 12s 6d, 2 at £7, 3 at £6 17s 6d, 3 at £6. On account Messrs Sullivan Bros. 1 bullock at £9 7s 6d., 2 at £8 15s, 3 at £8 7s 6d, 2 at £8 2s 6d, 2 at £8 15s, 2 at £9 2s 6d, 2 heifers £5 15s. On account Mr AY. Olderog 1 heifer at £7 ss, 4 at £6 7s 6d 5 heifers were passed at £6 12s 63. BRIGHTER. WOOL OUTLOOK. The wool trade outlook for the coming year is very much brighter than it was this time twelve months ago, says the “Sydney Morning Herald.” Wilth the possible reduction of the London bank rate of interest to 41 per cPut the prospects for the new year are certainly favourable, and indicate a strong fooling of confidence. It is thought there will be an increased German'demand for wool, on a more settled exchange rate whether the present negotiations regarding the indemnity are favourable or not bo that country. It is certain Germany requires more raw wool, and it is thought that steps may l>e taken to prevent those sudden fluctuations which have made business so difficult in tho past. In France also there is a demand for the raw product, and although the combing mills at Roubaix are working three shifts the demand exceeds the output, and the production is absorbed daily. The latest Bradford news tells of a spirit of cheerfulness, with values on the whole exceedingly firm. The outlook is much brighter than for many months past, and topmakers are now asking over 4s for 64’s tops to be delivered in March. It is interesting to learn that the supply uf fine tops is barely sufficient to meet current requirements, and any increase in business by spinners will bring about an actual shortage of tops of fine quality counts.

The year 1922 will commence with business in primary production on a much sounder basis than was the case this time last year,' and although there may still be some financial complications, in the main the trade outlook for the coming year is distinctly favourable.

In Australasia during the month of January the quantity it is decided to catalogue for sale is 200,000 bales, and for February the approximate is a further 200,000 bales.

In London 200,000 lialef may be offered at the first series, which commence on January 10. The actual quantities of free wool which it is arranged shall lie offered will comprise 97,000 hales, made up as follow:—Australian, free wool, 52,000 hales; New Zealand, free wool 30,000 bales; Punta Arenas, free wool 15,01)0 bales.

B.A.W.R.A. is shown as offering 98,000 bales, which is the quantity they are entitled to submit, but it has not yet been learned if the directors will avail themselves of the full quantity they are entitled to.

MARKETS FOB BUTTER. The fact that considerable quantities of New Zealand butter are being sold to Canada, and the United States, presumably at satisfactory prices, should modify the fears that have been created by the collapse of the London market, says the “N.Z Herald” j editorially. The embarrassing position that has now developed may, indeed, be partly due to the difficulty of recovering the business connections which had been developed before tile war and the Imperial requisitions concentrated virtually the whole of the Dominion’s exports into Britain. The London market. will, no doubt, always bfc the heaviest purchaser of New Zealand butter ami cheese, but before the war Canada, and to a smaller extent the United States, were important customers and efforts were patiently continued over a number of years to establish New Zealand butter in their markets. Thus in 1913 the exports of butter to North American ports amounted to 115,000 boxes, which was nearly one-fifth of the whole export for the year, and at that time it was considered that this trade could be greatly increased. Now that the London market is over-supplied, the alternative American markets become more important than ever, and there could be no greater encouragement to an enterprising exploitation of them than tin: fact that the demand for Now Zealand butter has extended beyond the western cities to New York itself. Business in 1913 and 1914 was almost wholly with Canada, possibly because the butter factories had not then accommodated themselves to the restrictions imposed by the American authorities against the use of preservatives. Neither those regulations nor the duty imposed by the emergency tariff are prohibitive, while Mr Wilbur’s reminder that “the American people demand the highest quality’* should be only a further incentive to the Dominion’s dairying industry to explore this vast imarkest. Trade with North America has the advantage of the seasons, of distance, and of established shipping services, and it will be remarkable if ,the butter-making organisations are

content to trust their fortunes to the unstable London market without fully investigating the possibilities of business with Canada and the United States.

HONEY CROP PROSPECTS. The Director of the Horticulture Division has received from the Apiary Instructors the following report concerning the honey crop prospects in Christchurch and Dunedin: —The outlook is very promising, although the

season is somewhat late. The reports from Marlborough and Westland indicate good returns. Rain is badly needed in the Canterbury district to revive the clover pastures. It is too early 'yet to give an idea as to how the season will pan out. In Otago and Southland there are indications that the returns will be above normal. 'Prices are firm; No bulk offering. There is a steady demand for all lines. Beeswax is quoted at Is 3d to Is 9d per lb.