COMMERCIAL

Taranaki Daily News, 20 December 1921, Page 2

COMMERCIAL

AUSTRALASIAN LOANS. London, Dec. 17. It is authoritatively stated that the Victorian, New Zealand and other Australasian loans are not being floated before January or February. DAIRY PRODUCE MARKET. The Bank of New Zealand produce department has received the following advice from its London office, under date December 16: — Butter.—Market weak and irregular. Quotations : 150 s to 155 s per cwt. Cheese.—Market quiet. White, 90s to 98s per cwt.; colored, 90s to 96s per cwt. The Loan and Mercantile Agency Company, Limited, have Received the following cablegram from their London house, under date December 16:— Butter.—New Zealand, salted, £7 10s to £7 18s per cwt. Cheese.— £4 10s to £4 18s per cwt.; market dull. THE MEAT MARKET. Messrs. Dalgety and Co., Ltd., report having received the following cablegram from their London office, under date December 15: Quotation, N.Z. prime crossbred lamb, Canterbury heavy, 6%d, light North Island heavy, 6%d; light 6%d; demand poor. New Zealand prime crossbred mutton, Canterbury heavy to 4 5-8 d;, light, s’/fed; North Island heavy, 4%d; light 5d to 5 l-8d; demand poor. N.Z. prime ox beef, hinds, sd; fores, 4d; demand fair. Market for New Zealand lamb, mutton, and beef, weak. G.a.q. crossbred launb, Australian heavy, 5%d; light, 6d; demand poor. LONDON PRODUCE MARKET. A GENERAL REVIEW. Messrs. A. H. Turnbull and Co. advise: — Since our last report of November 14 we have received cablegrams from ovir .principals, Messrs. W. Weddel and Co., Ltd., as follows : November 18. —Butter: Danish 248 s to 2545, New Zealand 2055. Cheese: New Zealand white 94s to 106 s, New Zealand colored 86s to 9Gs. Market steady. November 25.—Butter : Danish 225 s to 2265, New Zealand free 198 s to 2045. Market steady. Cheese: New Zealand white 100 s to 110 s, New Zealand colored 92s to 106 s. Market. steady. December 2. —Butter: Danish 210 s to 2145, New Zealand 196 s to 200 s. Market quiet. Cheese : New Zealand white 102 s to 106 s, New Zealand colored 90s to 98s. Market quiet. December 9.—Butter: Danish 210 s to 2125. Market weak, tendency downwards. New Zealand free 170 s to 180 s, New Zealand. Government 164 s to 1745. Cheese: New Zealand white 100 s to 104 s, New Zealand colored 98s to 100 s. The most striking feature in the above cablegrams is the rapid decline of Danish Lutter, while the latest cables point to a further decline. New Zealand butter remained steady until the Government dropped the price of their old stocks, when the new season’s butter declined heavily in sympathy. Until the old Government stocks are completely exhausted, they will continue to be an obstacle to the marketing of our new season’s butter. The cheese market has remained steady, but from advices received we learn the position is by no means stable. At present only small quantities are reaching the market, and we. are awaiting with interest the trend the market will take when arrivals increase. Season’s Make. —Present indications point to this season’s output of dairy produce being considerablj- greater than last year’s, s The comparison «f quantity of butter and) cheese graded during the four months. August’ to November, is as follows: BUTTER. 1921. 1920. 336,325 cwt. 219,433 cwt. CHEESE. 1921. 1920. 314,175 cwc. 359,510 cwt. It will be seen that there is a slight decrease in cheese, but a very substantial increase in butler. On a butter-fat basis there is an increase of practically 25 per cent. It is with satisfaction that we are able to report a reduction of freight on butter to 5s per box. and on cheese to 1 3-16 d per lb, plus 10 per cent. Although produce is being shipped promptly from New Zealand it is regrettable that on arrival in the United Kingdom skips are being held up prior to discharge, owing to butter being loaded under frozen meat, for which storage has been difficult to obtain. Shipments from New Zealand during the month of November totalled 177,831 boxes of butter and 64,289 crates of cheese. WAIKATO STOCK MARKET. The Farmers’ Co-op. Auctioneering Co., Ltd., reportAt Haimllton on Thursday, December 15, we had an average yarding of all classes of stock and have to report a general Improvement all round. The entry of fat stock was considerable and sold under good competition. Best steers realised from £8 Ils to £9 13s, lighter sorts £5 5s io £7 Is, cows made from £2 10fP to £4 2s 6d. Two lines of 3 and 4-year steers in fresh and store condition were well competed for fetching up to £4 17s for the best, others £3 10s to £1 ss, smaller and lower conditioned sorts £2 18s to £3. Young cattle were poorly represented but everything sold at auction. Sheep in the fat section experienced ,i sharp rise in value, medium shorn wethers making to 15s, woolly wethers 17s, fat lambs 12s 3d t., 13s, ewes with lambs at foot good at 14s 4d. Pigs advanced slightly in value, baconers realising to £3 6s, porkers 36s to £2 7s 3d, slips £1 to £1 10s, weanera 5s to !ss.