COMMERCIAL.

Taranaki Daily News, 31 December 1921, Page 8

COMMERCIAL.

LONDON MARKETS. BUTTER PRICES LOWER. By Telegraph.—Press Assn. —Copyright. London, Dec. 29. Free butter continues to decline. New Zealand is quoted at 125 s to 130 s. Australian salted 110 s to 1225. Owing to the holidays there is slow discharge, and only limited quantities have been marketed. These were rapidly cleared, as there is good consumptive demand at the reduced retail prices. A further reduction, is probable and will stimulate demand. Already the consumption of niargerine has greatly diminished. The trade is anxiously awaiting the replies of the Australian and New Zealand Governments to the proposal that they should buy the stocks of butter. Cheese.—Quiet; New Zealand about 88s. Wheat. —Quiet. Increased offers for cargoes are causing a slight depression. There is fair inquiry for Australian parcels, January-February, at 5Us 9d. There is little doing in spot; Australian ex quay at 53s (hi. Flour. —Dull; Australian ex l store 43s 6d to 435. Oats.—Nominal. Peas and Beans.—Quiet. Sugar. —Granulated 475. BRADFORD WOOL MARKET. Received. Dec. 30, 5.5 p.m. London, Dec. 29. Bradford wool values are firmly maintained with more inquiry for crossbreds. —Aus.-N.Z. Cable Assn. SOUTHERN MARKETS. By Telegraph—Press Association. Christchurch, Last Night. There has been no movement in the grain market during the week. There have been a few inquiries for oats Tor spread delivery next season, but quotations are few? Reports from the country are that in some localities the hot, drying weather o-f the past fortnight has not been favorable to the oat and barley crops, and urtless some rain comes soon they will not thresh out too well. The conditions are not sufficiently dry to affect the wheat prospects. Reports from South Canterbury and many localities in North Canterbury indicate an exceptionally good yield. Further inland there have been some very helpful rains, the dry areas , particularly benefiting. HIGH COMMISSIONER’S CABLED REPORT. The Department of Agriculture has received the following cablegram, dated December 23, from the High Commissioner for New Zealand, London:—• MEAT. Mutton and lamb market quiet, but steady at unaltered prices. Very little business doing in view of heavy supplies of chilled beef. N.Z. mutton: Lightweight, December 23, 5 l-Bd, s|d; December 17, 5 l-Bd, December 10, sd, sj|d. Heavyweight, December 23, ber 17, 4£d, December 10, 4%d, 42d. Ewes, Dec. 28, 4{d; December 17, 4%d; December 10, —. N.Z. lamb, lightweight, December 23, 7 5-8 d; December 17, 7 5-8 d; December 10. 7 5-8 d; heavyweight, December 23, 7d, 7 l-8d; December 07, 7d, 7 l-8d; December 10, 6£d, 7d. Beef trade very bad, with few sales of frozen. Quotations nominal. Argentine chilled (beef —supply exceeds the demand. Average prices during the week are about: Hinds 01/sd,o l / s d, fores 3id, but sales have been made at lower prices. BUTTER.

Demand for spot is good, but excessive supplies continue to depress the market, resulting in weaker and irregular selling. Official quotations on Wednesday were:

New Zealand. —'December 23, 140 s to 145 s per cwt. (Is 3d. to Is 3£d per lb.); December 17, 150 s to 156 s per cwt. (Is 4d to Is 4fd per lb); December 10, 174 s to ISOs per cwt. (Is 6%d to Is 7id per lb.). Towards the end of this week prices have further declined, sellers offering New Zealand for delivery after Christmas as low as 135 s per cwt. (Is 2Ad per lb.). Government Stocks.—Board of Trade Butter Committee dissolved in view of decision of department to clear stocks, and therefore no further issue prices will be obtainable. CHEESE. Market continues very quiet. Official quotations are; New Zealand—White: December 23, 90s to O4s per cwt. (9%d to lOd per lb.); December 17, 90s to 98s per cwt. to IOAd per lb.) ; December 10, 100 s to 104 s (16|d to lid per lb.). Colored: December 23, 88s to 94s per cwt. (9Ad to lOd per lb.) ; December 17, 90s to 96s per cwt. (9sd to lOjd per lb.); December 10, 98s to 100 s per cwt. to per lb.). THE BUTTER MARKET. CAUSE OF THE PRESENT DIFFICULTIES. Owing to the condition of the Home market for butter this season, and the difficulty of fixing the pay-out price for butter-fat to the suppliers here, many New Zealand butter companies have overpaid their suppliers. “They find themselves now,” says the Levin Chronicle, “in the position that some 01 !he cheese factories were in last season, when they paid out more than their produce realised.” Some blame has been laid on the Imperial Government for the present troubles in the butter market, at Home. It has been pointed out that in April I last the Imperial Government had some *55.’(M)() tons of butter in store. At that time the Old Country make was going on the market, hut the Government held that quantity in store In order to maintain a high level of prices for the Old Country producer. No sooner nati the first big shipments o? New Zealand and Australian butter reached the docks nt Home, however, than the Imperial authorities decided to hammer down prices l'v throwing their remaining »tock of ’22.oflo.tons on to the market, with the aerions resuhs that the New Zealand industry is threatened at the present time. THE POULTRY MARKET. Messrs. L. A. Nolan and Co., Ltd., sennrt small entries at yesterday’s yoqj-

try sales. Prices ranged a.s follows Hens, from 2s to 3s 7d; cockerels (small), 9d to Is 4d; ducks, 3s 6d to 4s Id; goslings ss. LONDON PRODUCE MARKETS. The Bank of New Zealand, produce department, has received the following advice from its London office, under date December 24: Meat. —Nominal prices unchanged, but indications of improvement. Cheese. —No material change, but downward tendency. hk The New Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from their London house under date December 28: • Frozen Meat.—-Lamb, 7Ad per lb. Others are unchanged. Market steady.