COMMERCIAL

Southland Times, Issue 21088, 21 May 1930, Page 3

COMMERCIAL

LORNEVILLE STOCK SALE. FAT STOCK PRICES STEADY. FAT CATTLE EXCEED REQUIREMENTS. There were moderate yardings in all sections at the weekly Lorncville stock sale yesterday which attracted a good attendance of buyers and the public. There were good entries forward in both the fat sheep and fat cattle sections, but in view of the Winter Show week sale having been abandoned, butchers’ supplies' were fairly low and their requirements were sufficient to absorb the bulk of the stock offering except in the fat cattle section in which a fairly considerable easing was noticeable in the last race and passings were not infrequent. The quality in the fat cattle yarding was the best that has been forward for some months and a larger percentage of prime ox beef was to be seen than has been usual for some time. Fat ewes were in the majority in the fat sheep section, but a fair number of prime wethers was forward. The fat lamb yarding was a small one, but some exceptionally fine quality and a few pens of extra heavies were included. Keener competition than has been the case for some weeks was apparent in this section with the result that prices improved to some extent. In both store sections, the yardings were small and included few lines of particular interest. Most farmers have now filled their requirements of store stock and the market was listless.

Following is a comparison in the entries in the individual sections for the last two sales:-—

Included in yesterday’s yarding were 11 vealers, 27 dairy cows, one bull and six horses.

STORE CATTLE: The yarding was only a small one. With the exception of a pen of 18 month Hereford steers which realized £8 the yarding comprised aged cows which brought from £2 to £4. The dairy section was also small, but there was a good demand for cows just calving or close to calving, these making from £7 to £lO. FAT CATTLE: The yarding was a large one numbering about one-third more than the previous sale. The quality, on the average, was particularly good and much above the yardings of recent date. The sale opened with prices about on a par with those ruling at last sale and competition was fairly keen. No rise was noticeable and towards the close values receded to some extent. A fair yarding of vealers was forward and sold at recent rates. Extra prime heavy bullocks realized up to £l6 15/-, medium weights from £ll to £l3 10/-, lighter sorts down to £9 10/-; extra prime heifers up to £ll 10/-, medium weights from £8 to £9 10/-, lighter sorts down to £7; prime heavy cows up to £lO 15/-, medium weights from £7 to £8 10/-, lighter sorts down to £6; vealers from £2 to £3 10/-, with runners up to £5 7/6. STORE SHEEP: The entry was a small one consisting of aged ewes and small cull lambs. The ewes made from 2/6 to 6/-; lambs from 7/- to 9/6, while a pen of poor conditioned 2-tooth wethers made 10/-. FAT SHEEP AND LAMBS: This was a large yarding comprising a fair proportion of well-finished wethers, a small entry of fat lambs and a very large offering of ewes of mixed quality. The fat lamb sale opened with a firming tendency and more competition was noticeable than for some time, the values ruling being more encouraging than for some time past. The very large entry of fat ewes had rather a depressing effect on values ruling for prime wethers and prices were about equal to those ruling a fortnight ago. Little improvement was noticeable in either the wether or ewe sections. Extra prime butchers’ lambs sold up to 26/-, medium weights from 20/3 to 21/6, lighter sorts down to 18/-, extra prime butchers’ wethers up to 28/6, medium weights from 24/- to 26/6, lighter sorts down to 21/-, extra prime heavy butchers’ ewes up to 21/6, medium weights 12/- to 15/-, lighter sorts down to 9/6. GORE STOCK SALE. A SMALL OFFERING. The entry of sheep at the fortnightlystock sale at Gore yesterday was the smallest for some time past. There was a fairly good attendance but few appeared to be interested from a buyer’s point of view, and the market was dull. Very few fat sheep were forward, a prime heavy ewe selling at 27/-, and a few fat wethers selling at 24/-. A pen of ewe lambs realized 14/2, mixed sex lambs 10/4, and store wether lambs 8/4. There was no inquiry for old ewes and a pen of twotooth tussock ewes was also passed in at 21/-. Sales were: — Wright, Stephenson and Co., Ltd.: 100 ewe lambs at 14/2; 7 f.m. rams passed at 5/-; 6 1-shear rams passed. New Zealand Loan and Mercantile Agency Co., Ltd.: 190 two-tooth ewes passed at 21/-. Southland Farmers’ Co-operative Association, Ltd.: 1 fat ewe at 27/-; 5 fat wethers at 25/-; 72 wether lambs at 8/4. J. E. Watson and Co., Ltd.: 90 m.s. lambs at 10/-. National Mortgage and Agency Co., Ltd.: 62 f.m. ewes passed at 6/9; 100 do. passed at 7/1. Cattle. There was a fair entry of fat cattle, including a number of prime steers. These sold at prices ranging from £9 10/- for lightweights up to £l3 10/- for fairly heavy sorts. The store entry was chiefly comprised of calves, which sold at from 26/to 41/-. Sales were:— Dalgety and Co., Ltd.: 1 fat heifer at £7 5/-; 2 fat steers at '£l3 10/-; 2 do. at £ll 17/6; 1 do. at £9 10/-; 2 do. at £l3 5/-; 2 do. at £lO 10/-; 1 bull at £4 10/-. Southland Farmers’ Co operative Association, Ltd.: 5 steer and 1 heifer calves at 31/-; 6 heifer and 2 bull calves passed at 21/-; 3 bull calves at 26/-. Wright, Stephenson and Co., Ltd.: 3 steer and 2 heifer calves at '4l/-. National Mortgage and Agency Co., Ltd.: One empty cow passed at £2 15/-; 2 dairy cows at £5 5/-; 1 do. passed at £3. CANTERBURY MARKETS. t — OATS AND ONIONS FIRMER. Christchurch, May 20. The features in the Canterbury grain and produce markets since the last report have been firming in both the oats and the onion sections. The market for oats in the south has hardened and to-day’s quotation' for prompt A Gartons is 3/10 f.0.b., s.i. For May-June delivery they have been sold at 3/11 f.0.b., s.i. There is no quotation for B’s which are very hard to obtain at the moment. All supplies of oats are coming from the south and the Waipiata left Bluff this week with approximately 7,500 sacks for the North Island. Chaff has also firmed further in sympathy with oats, and to-day’s quotation is £7 a ton f.0.b., s.i., which is equivalent to £5 10/- on trucks.

Very little wheat is now offering and values remain unchanged. Quotations are 5/8 to 5/9 for Tuscan, 5/9 to 5/10 for Hunters and 5/11 to 6/- for Pearl, on trucks price in each case. A fair amount of business is passing in next season’s wheat which has been sold at 5/6 for Tuscan and 5/9 for Hunters. Fowl wheat is still very scarce and the demand is quite good. The value remains firm at 5/11 f.0.b., s.e., equivalent to 5/6. on trucks.

The prompt position for potatoes continues weak and little business is passing. The Wingatui left yesterday for Auckland, faking 6000 sacks from that port and she

also carries' 1000 wacks ex Timaru. The Kaimanawa is due to leave on Friday and the Kiwitca on Saturday or Monday for the same port, and it is anticipated that their cargoes will be about 6000 sacks respectively. The price to farmers remains at £3 5/- a ton on trucks. Forward quotations to-day, are June-July £4 15/-, July-Sep-tember £5 10/-.

The onion market has firmed considerably and at the moment the demand is quite good. The price to growers now stands at £2 10/- on trucks. Very little business is passing in small seeds. The chief causes of any life in the market are fescue and dogstail. The former crop has been quite a good one, and the demand from America has been quite good. It is quoted at lid per lb, f.o.b. The dogstail crop has been a short one and consequently the market has improved. It is quoted at 9d per lb, f.o.b. for the best. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, May 20. Sales on ’Change: Commercial Bank of Australia 20/9 (late sale Monday), 20/9 (2); Bank of New South Wales £39 5/-; Bank of New Zealand 59/-; National Insurance 14/6; South British 59/3 (4) ; Devonport Steam Ferry 22/-; Northern Steam cont. (late sale Monday) 6/6; New Zealand Breweries 52/6; British Tobacco 39/-; Farmers’ Trading 8/9 (2) ; Gear Meat 38/-; New Zealand Farmers’ Fertilizer 18/9 (2) ; Mount Lyell 28/-, 28/9. Wellington, May 20. Sales reported: Commercial Bank of Australia (ord.) £1 0/9 (3 sales) ; Bank, of Australasia £l2 5/-; Bank of New South Wales (Melbourne register) £39 5/-; Wellington Gas Co. (ord.) £1 10/6; Gear Meat Co. £1 18/3; New Zealand Breweries £2 12/-; Staples and Co. (2 sales) £2 7/3. Christchurch, May 20. Sales on ’Change: Australian Bank of Commerce 24/1; Commercial Bank of Australia 20/9, 20/8; Bank of New South Wales (cum. div.) £39 5/-; Carlton Brewery 33/6; New Zealand Breweries 52/4; British Tobacco 38/7; Dunlop Perdriau Rubber 14/-. Sales reported: E.S. and A. Bank £6 2/-; Union Bank of Australia £ll 7/6; South British Insurance 59/3; New Zealand Breweries 52/6; Dunlop Perdriau Rubber 14/3. Dunedin, May 20. Sale reported: British Tobacco 38/6. GRAIN REPORT. Messrs Donald Reid and Co., Ltd., Dunedin, report as under: — , Oats: There are still a few saniples of oats arriving, and sales are generally effected when the grain is of grading quality. It is apparent that B grade in particular will be short this year, but as this grade is mostly required for feeding purposes little hardship will be experienced because good undergrade will fill the same purpose. The millers arc not buying so freely now, but merchants are taking all the A grade offering, and very few are going into store. A grade Gartons are worth 3/2, B grade Gartons 3/-, sacks extra, on trucks, country stations.

Wheat: There is very little transpiring at present in this market. The bulk has now been disposed of, and delivered to millers. The latter are well stocked up, and are asking for deliveries to be delayed for a short while to enable them to cope with the big shunts arriving eaeh day. Values to farmers remain—Tuscan 5/9, Hunters and Velvet 5/11 to 6/-, sacks extra, on truck, country stations. Chaff: A good deal of cutting has been done in the country, but this principally represents early purchases and shipping contracts. Very little has actually come on the market for sale, but on the other hand, the demand is not yet up to winter standard, and all inquiries are easily dealt with. Prime oaten sheaf is worth £5 5/- sacks extra, ex the truck, Dunedin. Potatoes: This market is very quiet, and growers are storing their crop in preference to accepting the price now offering. The bulk of the tubers this season arc of good quality, and this is an inducement to the farmer to hold and chance a rise later in the season. Best tables, newly dug are worth £5 5/- sacks in, ex truck, Dunedin. Merchants will only offer this price ex store," and very little business is passing. THE METAL MARKET. (Rec. 8.20 pm.) London, May 19. Metal exchange quotations are as follows, those previously cabled being given for pur-

poses of comparison:— May 12. May 19.

MEW ZEALAND APPLES. London, May 19. The Port Caroline’s New Zealand apples realized the following prices: Cox’s 18/-, 24/-; Jonathan's and Delicious 12/-, 15/-; Dunn’s, Sturmer’s and Ixird Wolseley’s 13/-, 15/-; Cleopatra’s 14/-, 15/-. GERMAN BANK RATE. Berlin, May 19. The bank rate has been reduced to 4J per cent. BRADFORD MARKET. PRICES FIRM. London, May 19. At Bradford the continued stoppage is causing uneasiness and the market has a slightly depressed tone, but prices are very firm. DAIRY PRODUCE. Messrs Joseph Nathan and Co., Ltd., advise having received the following cable dated May 20, from their London principals, Messrs Trengrouec and Nathan, Ltd. Butter: 129/-, market steady but quiet. Cheese: White 81/-, coloured 86/-. Market quiet.

May 20. May 6. Store Cattle .. . . .. 129 43 Fat Cattle .. .. .. .. 183 128 Store Sheep .. . . .. 276 128 Fat Sheep .. .. .. .. 1222 634 Fat Lambs .. . .. 242 105

(pe r ton) (pei r ton) s. d. s. d. Copper— Standard spot 55 13 9 54 16 10 do. forward 54 13 9 52 0 0 Electrolytic . 58 10 0 60 0 0 to 60 10 0 61 10 0 Wire bars .. 60 10 0 61 10 0 Lead— Spot 18 7 6 17 16 10 Forward . .. 18 7 6 17 18 9 Spelter— Spot 17 12 6 16 7 6 Forward 18 5 0 17 2 6 Tin— Spot 145 10 0 143 12 6 Forward 145 17 6 Silver—■ Fine, per oz . 191d 18}d Standard per oz 20 13-lGd 20id