COMMERCIAL.

Southland Times, Issue 18851, 17 June 1920, Page 2

COMMERCIAL.

BURNSIDE MARKET. (Per United Press Association.) DUNEDIN, June 16. Each department was well supplied with stock at Burnside to-day, with the exception of pigs, a larger number of which could have been disposed of. Freezing representatives were active, and prices in consequence were on the whole above late quotations. Fat Cattle.—A large yarding, a total of 204 being offered for sale. The quality ■was of a medium description. The i sale opened under good competition, and prices were fully 10/- per head above last week’s rates. Prime bullocks sold from £22 to £26 10/-; medium, £lB to £2l 10/-; light and unfinished kinds from £l4 10/- upwards. Prime heifers sold from £ls 15/- to £lB 10/-; medium, £l3 10/- to £ls; light and aged, £9 upwards. Store Cattle.—There was a large yarding, and the demand was slack, more particularly for young and backward conditioned cattle. Prices on the whole were a few shillings a head below late, rates. Sheep.—A good yarding, numbering 2371 head of fair quality. The demand was bood by both trade and export buyers, and values were fully 1/6 per head above last week’s rates. Extra prime heavy-weight wethers made up to 57/6; prime, 44/- to 53/G; medium, 30/- to 42/-; light and unfinished kinds from 30/- upwards; extra prime heavy-weight ewes made up to 56/9; prime, 40/- to 4S/6; medium, 32/6 to 38/6; light and aged from 25/- upwards. Fat Lambs.—A moderate yarding, numbering 1474 head of fair quality. For all good sorts suitable for export purposes competition was keen, prices being from 2/to 3/- per head above late rates. Graziers were also in the market for store lines which require finishing off. Best lambs marie from 30/6 to 3S/-; and others from IS/- upwards. Pigs.—A medium yarding, all meeting with a ready sale at prices well up to last week’s rates. Best bacoucrs realised from 10i<l to Hid per ib, and best porkers from lid lo lljd per lb. ADDINGTON MARKET. CHRISTCHURCH, June 16. At the Addington market to-day there was a big yarding of fat sheep and an average one of fat cattle. Store Sheep,—There was a slightly bigger yarding than last week, and there was a healthier tone in the market, though there was not quotable change in values, but a better clearance was effected. Southland and West Coast sheep were represented in the yarding. Quotations: Inferior hoggets, 11/1 to 15/0; good hoggets, Ift/- to 22/-; good ewe hoggets, 33/-; four, six, and eight-tooth ewes, 27/6 to 33/-; mferior four, six, and eight-tooth wethers, 22/- to 25/6; fair two-tooth ewes in lamb, 22/11; fair sound-mouibed ewes, 20/- to 28/-; two-tooth wethers, 22/11 to 20/-. Fat Lambs—Extra prime to 35/9; prime 27/0 to 33/1; medium, 25/- to 27/3; light and unfinished, 20/- to 24/6.

Fat Sheep—There was a big yarding, and recent values were scarcely maintained throughout the sale, particularly for secondary quality, and when butchers' requirements were filled towards the close there was an easing. Freezing buyers operated freely. Extra prime wethers, 4S/3 to 50/0; prime wethers, 40/- t-o 45/6; medium, 35/- to 3S/6 ; lighter, 29/- to 34/-; extra prime ewes, 44/- to 4S/9; prime, 36/0 to 43 G: medium, 30/6 to 36/-; light. 21/- to 20/0. Fat Cattle.—The market, though not so I firm as recent sales, was up to hist week’s S values, prime beef selling satisfactorily. Extra prime steers sold to £32 15/-; prime ! steers. £l9 10/- to £25; medium steers, £ls Ito £IS; prime heifers, £l3 to £ls 15/-; 1 ordinary inferior heifers, £6 10/- to £l2 | 12/6; prime cows. £l2 10/- to £l6 17/0; ordinary cows, £3 lt/6 to £l2. Store Cattle. -The poorest quality yarding this season. One line of forward steers ■brought un to £l3; bulls to £lO 10/-. Dairy Cattle. -There was a keen de- | mand. Springing heifers brought up to £2l, and se'-ond and third ealvers to £2O. 1 Fat Pig-;, - A medium entry and a fair • demand. Choppers sold to £lO 15/-; heavy b'.-oners, £7 15/-; light, £0 10/-; average per lb, 10d; heavy porkers, £5 10/-; averj age per lb, 1/- to 1/01. ( THE AMERICAN PRICE SLUMP. ; Quite $ flutter has been caused in local commercial dovecots (says the Dominion j by the cable messages ironi America ami England as to the slump in prices. One effect of the published messages is a sudden cessation of buying orders, local warehousemen and retailors having concluded that the reign of high prices is at an end, and that they must "stand from under" if they would save themselves from serious losses. Whether they are right in so acting only l-me can determine, but there may lie another aspect u> the matter. lor 'example, one importing firm sought to elucidate the position by eabiing to New York for information as to the actual i>osition. Their interpretation of the reply received is that the retailers in America, who have been making enormous profits, are now being forced to reduce their prices on account of consumers, who had reached the limit of their endurance, making a more or less organised stand and refusing to pay the high rates. The deplorable transportation facilities existing at the present time in America mainly due to labour troubles and the shortage of coal (which in turn led to conga.•tii n in the factories and warehouse?!, was considered to be an important factor in bringing about a temporary reduction in prices. Another factor was the action of the banks in reducing loans and overdrafts. t-ueh conditions had so far (continued the cable message i only reflected on the retailers. The manufacturer.-’ prices had remained unchanged, and they insisted that the position would not affect their quotations, as their production was .•■■old for six months ahead ; also that labour's demands were forcing under-pro-duction. The probability of a short cotton crop would also tend to keep up prices, and although, at the moment, the market for certain weights of grey goods was somewhat easier, on account of over-speculation, coloured goods were remaining firm. An extract from a letter just received by the local agents of a big New York exporting firm reads as follows;—" The independent attitude of labour is decidedly reflected in the attitude taken by manufacturers with their buyers, and the condition to-day is that in placing many orders we must personally wait on the manufacturer and beg him to accept our order at his terms. I can see no help but for higher prices and greater difficulty in securing goods. It is claimed that the next big strike will be staged in the Fall River section, where Labour is now making a demand for a 50 per cent, increase in wages. This will affect the entire textile trade, and is causing much uneasiness among the up-town crowd; that they have been making enormous profits there is no doubt, but they want these profits to continue, and as long as demand keeps up there seems to be every reason to believe that the higher wages paid labour will simply be added on to the cost of material, with, a little more for good measure. There is considerable talk in the papers about reducing purchases, but you see very little of this, and the consumer segms to be buying just aa heavily as ever.”