LONDON PRODUCE MARKETS

Sun (Auckland), Volume II, Issue 586, 12 February 1929, Page 12

LONDON PRODUCE MARKETS

HIGH COMMISSIONER’S CABLE

The Department of Agriculture has received the following cablegram dated February 9 from the High Commissioner for New Zealand, London:— Tallow-.—There was no auction this week. The demand privately was at last rates quoted. Hemp.—The heavy output of Manila demoralised the market, but at the close a steadier tone prevailed. J grade is now quoted for February-April shipment at sellers £35 10s. The output from January 1 to 31 was 157,000 bales, against 100,000 for the same period last year. Stocks in Manila on January 31 were 165.000, against 154,000 at the same time last year, and in Britain 14,000 aga.inst 11,500. The sisal market is dull and easier in sympathy with Manila. Nominal closing values are:—No. 1, Feb-ruary,-April shipment, £4l; No. 2. £39, with first marks 10s more. Sellers are not pressing, having placed the greater part of their production. New Zealand market is dull, with rather more offering in better sorts. In the absence of business, nominal comparative values for February-April shipments are: Highpoints, £35 10s; fair, £33; common, £3l.

Wool.—--The Bradford market is quiet and buyers are cautious. Most qualities of tops are easier. Present quotations are: 64’s (Merino), warp, 3s 10d a lb (average 3s 9d); 56’s (super halfbred), 2s lOd; 50’s, prepared, 2s sd; 40’s, prepared, Is lO^d. PAYMENTS TO DAIRYMEN The output of the Bay of Plenty Cooperative Dairy Association, Te Puke, continues to increase, and the payments are correspondingly larger. On February 20 £28,234 will be distributed to suppliers for the January supply, compared with £20,198 for the corresponding month last year. The butter-fat handled last month was 391,414, and for January last year 316,8791 b. The total payment made to suppliers this season from July to January was £136,584, while for the corresponding period last season the amount was £105,260. The total butter manufactured this season to the end of last month was 1,030 tons 16cwt, against 859 tons lewt for the corresponding period last season, an increase of 20 per cent. BUTTER AND CHEESE Merchants report receipt of overseas cables as follow: The Bank of New Zealand from its London office as at the close of business last week:—“Butter, very slow; 179 s to 182 s; cheese, weak; -white, 90s; coloured, 93s to 945.” Amalgamated Dairies, Limited, from their London office, dated February 9:— “Butter: Anchor, 182 s down to 180 s for finest; unsalted, 186 s. Prices irregular; other finest selling down to 178 s; market still idle. Danish, 195 son spot; 188 s f.o.b. Deliveries of New Zealand, 1,928 tons; stock, 4,178. Cheese: White, 88s to 90s; coloured, 92s to 945; market slow. Canadian matured white, 108 sto 112 s; coloured, 104 s to 110 s; retail unchanged.” Joseph Nathan, from their London principals, Trengrouse and Nathan, Ltd.: “Cheese, white, 89s; coloured, 925.” TAURANGA SHOW (From Our Own Correspondent) TAURANGA, Monday. The following are the results of the weight-estimating competitions at the Tauranga Agricultural Show last week. The weight of the sheep was 71£lb, which was estimated correctly by E. Wood and J. Gain. The weight of the bullock was 7181 b, the first prize being won by R. J. Schischka, 7231 b. AUCTION NOTES

Dalgety and Co., Ltd., and the New Zealand Loan and Mercantile Co., Ltd., will hold their annual ewe fair at Raetihi on Wednesday, February 20, at 12 noon. The following ewes will be offered on behalf of various clients: 7,500 4 and 5-year ewes, 1,000 4 and 6-tooth ewes, and 1,250 2-tooth ewes. The ewes to be offered are genuine farmers’ lots and coming from the high country are well constitutloned, as Raetihi sheep are well known in this respect, and the auctioneers confidently recommend buyers in search of good sound ewes to attend this sale.