BEEF MARKET FIRM

Sun (Auckland), Volume II, Issue 512, 15 November 1928, Page 14

BEEF MARKET FIRM

WESTFIELD STOCK SALE u CALVES SELL FREELY : By R.W.C. A yarding of approximately 250 jj head of ox beef at Westfield yesterday met with a very firm de- 1 ( mand at late rates. The market for approximately 330 cows and heifers met with par to slightly ] easier values than last week’s. « The beef yarding was drawn from all parts of the province. Northern offerings were confined mostly to small and inferior finished lots, but a Nor- - them vendor topped the market with ] an exceptionally prime Shorthorn bul- ] lock, which made £26. The beast was sold on account of N. S. Ludbrook, - Eaikaki, to R. and W. Hellaby. Ltd. The quality of the ox beef offering - generally was good, and comprised a big percentage of well-finished medium to heavy-weight bullocks. The cow and heifer offering showed a slight : improvement on the quality sent forward to late sales. The demand, how- 1 ever, was slightly easier, and there was not the strength in the bidding noticeable even last week. An average yarding of sheep came forward, to meet with a market slightly below late firm rates. Shorn sheep predominated. Well finished calves met with an exceptionally keen demand. An indication of the market can be taken from the fact that a well-nourished calf a few days old made 31s. Heavy prime vealers made to £6 Is. Prices at Westfield yesterday ranged as follow: Cattle.—Extra heavy prime steers, £l7 10s to £lB 12s 6d; heavy prime steers, £l6 to £l7 7s 6d: lighter prime steers, £l4 15s to £ls 17s 6d: light prime steers, £l3 to £l4 12s 6d: unfinished and small, £ll 10s to £l2 17s 6d; extra heavy prime young cows and, heifers, £l2 to £l3 10s; heavy prime young cows and heifers, £lO to £ll 17s 6d: lighter, £9 to £9 17s 6d; light cows, £8 to £S 17s 6d; other cows, £6 to £7 17s 6d. Calves. —Runners, £4 10s to £6 9s; heavy vealers, £5 to £6 Is, for a specially well-done vealer; medium, £4 6s to £4 ISs; light, £3 10s to £4 4s: smaller, £2 18s to £3 8s; small and fresh-dropped, 8s to £2 10s; rough calves, £1 10s to £2 10s. Sheep.—Heavy prime wethers shorn, made £1 13s 6d to £1 16s 6d; in their wool, £2 4s 6d; medium to heavy prime wethers, shorn, £1 12s to £1 13s 3d; light to medium prime, shorn, £1 10s to £1 11s 9d; unfinished, shorn, £1 7s 6d to £1 9s 9d: extra heavy prime young ewes, shorn, £1 Ss to £1 9s 3d; heavy prime, shorn. £1 6s to £1 7s 9ti; in their wool, £1 14s 6d to £1 16s 6d; lighter prime, shorn, £1 4s to £1 5s 9d; other killable ewes, shorn, £1 2s to £1 3s 9d. Lambs. —Spring lambs were penned in average numbers and sold at late rates. Prime lambs, £1 3s to £1 9s. Pigs.—Choppers, from £1 to £2 17s 6d; heavy and medium baconers, from £3 to £3 4s; light baconers and heavy porkers, from £2 10s to £2 ISs; medium porkers, light porkers, from £ 2 to£2 Ss; small and unfinished porkers, £1 10s to £1 ISs. Store pigs were penned in average numbers. Values were easier. Large stores, £1 Ss to £1 16s; slips, 16s to £1 6s; weaners, 7s to 16s. NEW SOUTH WALES OIL BRITISH INVESTORS KEEN SYDNEY, Wednesday. Overtures have been made to the New South Wales Government by a group of British investors anxious to secure the exclusive rights to territory which shows signs of oil wealth. The Government is desirous of encouraging British capital, but has decided to seek more information. British fiscal policy SIR A. CHAMBERLAIN'S VIEWS (Australian and N.Z. Press Association) MONTREAL, Tuesday. In the course of an interview to-day Sir Austen Chamberlain, British Foreign Secretary, said the policy of the Conservative Party in Britain was that whenever there was a duty there should be preference. At the next election he was convinced the party j would refrain from proposing any new duties on foodstuffs. Therefore the idea of any new preI ference on Canadian wheat must be | abandoned unless and until a great i change came over the British people. At present it would be impossible to carry such a proposal. Therefore it w ould be unwise to revise it. STORTFORD LODGE STOCK SALE to THE SUN) HASTINGS, To-day. At the weekly sale in the Stortford Lodge saleyards Yesterday, there was a medium yarding of both cattle and sheep, and a good attendance of buyers. Prices for both cattle and sheep showed an advance on last week's rates. Competition was keen. Following is the range of prices: Fat steers. £lO 10s; fat cows, £7 to £l4; fat heifers. £lO to £l3; twoyear steers, £9 ss; three-year steers, £ll 16s; six yearling steers, £6 13s: fat ewes, 21s to 245; fat forward wethers, 2Ss sd; two and four-tooth Woollv ewes, 345: ditto ewes and lambs, 435: woolly hoggets. 31s; two-tooth wethers, 24s to 27s sd. NEW ZEALAND ON LONDON The Bank of New Zealand advises the following London exchange rates to operate from November 15:—• Buying; On demand—l2s 6d per cent, discount: three days, 14s 6d; 30 days, 22s 6d; 60 days, 32s 6d; 90 days, 42s 6d; 120 days, 52s 6d. Selling: On demand. 5s premium; 30 days, 2s 6d per cent, discount; GO days, 10s per cent, discount; 90 days, 17s 6d per cent, discount. Telegraphic exchange: 15s per cent, premium. AUCTION NOTES William A. Horne, Ltd. will offer by public auction at their rooms, Horne’s Buildings, corner High Street and Vulcan Lane, to-morrow, Friday, at 1 p.m., a freehold house property situated at No. 22 Edwin Street, Newton, comprising four rooms, with detached wash-house and conveniences. The property has a frontage of 16ft to Edwin Street by a depth of 71ft Sin. Messrs. Robert C. Carr and Son w'ill sell by auction at the rooms, 20 Swanson Street, to-morrow, at noon, a 5-roomed wooden dwelling, with outbuilding and shed, electric light and city drainage, j situated at 14 Maxwell Avenue, Grey j Lynn. The sale is at the request of the j mortgagee.

LONDON MARKETS FOREIGN EXCHANGE RATES British Official Wireless. j RUGBY, Tuesday. j The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on November j S and par:—

Wheat ■ Wheat.—Cargoes are quiet and prices are unchanged. Parcels attract little attention at about late rates. By the Anchises (bags), 47s 6d; by an unnamed vessel in January to Calcutta, 44s 3d. Liverpool futures; December, 9s 3}d a cental; March, 9s 3 5-Sd; May, 9s 32d. BUTTER AND CHEESE FORWARD POSITION SOUND Reporting on the dairy produce market in London over the past month, Messrs. A. H. Turnbull, under date November 12, state that prices have been maintained at a fairly steady level. Danish has improved in value, as is usual with the approach of winter conditions, while New Zealand shows some weakening with the increase in production and shipment, being now quoted at 178 s against lS4s on October 13. “W. Weddel and Co., Ltd., advise, continues the report, that during the continuance of the Australian strike, buyers continued to operate sparingly, but with the increasing arrivals due during November, any anxiety regarding supplies has passed, making forward business almost impossible. Sales of afloats have been made at Is 4id. Our advices are that the market should remain steady, but with the possibility of some further slight decline. Meantime there is a better demand at the present reduced market quotations. ‘‘The cheese position is still good and, although quotations are showing an easing in price, we do not expect any very rapid fall. Certainly the heavier stocks of New Zealand arriving and afloat may have a tendency to ease quotations after the recent shortage, but, owing to the statistical position, we venture to believe that the market will, like butter, remain fairly steady.’*

TAXES IN AUSTRALIA SCALE OF RATES ANNOUNCED (United P.A.—By Telegraph — Copyright) SYDNEY, Wednesday. The A ttorney-General, Mr. F. S. Boyce, announces the rates of taxation which will be imposed if the Taxation Management Bill is passed. The company tax is graduated, commencing at 2s in the £, with a maximum of 3s, on all foreign companies, and on State companies with a taxable income of over £6,000. The supertax will be 3d in the £. It will be imposed on all companies and w r ill produce £300,000. Taxation on incomes from personal effort commences at 7d, increasing to 4s 3£d where the income is over £ 20,000. This is expected to yield £770,000. SYDNEY WOOL SALES SYDNEY, Wednesday. At the Sydney wool sales to-day the market was very firm. Brices were at the best point of the season. There was good general competition and good clearances. A total of 13,043 bales was sold. Greasy Merino sold to 30id.

Montreal, dol. . . . 4.8Si New York. 4.S51 4.866 dol. . . . 4.84 13-16 4.S4 13-16 4.866 Paris, fr.. . 124.10 Brussels, 124.05 124.21 belga . . 34.Si* Geneva, fr. 25.20 34.S9 25.20 li.22 Amsterdam, fl. . . . 12.OS 12.08$ 12.10 Rome, lire . 92.55 Berlin, v.m. 20.36 92.60 92.46 20.35 20.43 Stockholm, kr. . . . IS.13 IS.14 18.159 15.159 Oslo, kr. . 18.19 Copenhagen, IS.19 kr. , . . IS. 19 18.19 18.159 Vienna, sch. 34.495 34.475 34.585 Prague, kr. 1632 Helsingfors, 1632 24.02 mark . . . 192| Madrid, pes. 30.075 392J 192.23 30.07* 10 » 7 t! 25.225 Lisbon, escu 107i Athens, dr. . 375 375.00 Bucharest, lei .. .. S06i 8051 25.225 Rio de Janeiro, rail. . . 529.32 529.32 Buenos Aires, dol. . . 47 15-32 Calcutta, 47 i 47.57d rupee ... — 1 S3.32 18 Shanghai, teal .... 315d Hongkong, old - dol. . . . 245 Yokohama, 243 — yen .... 231-32 23 5-32 24.58d Batavia, fl. . 12.072 12.085 12.10