Realistic ewe prices

Press, Volume CXII, Issue 32879, 30 March 1972, Page 9

Realistic ewe prices

I Few vendors will look back on the ewe fair season just ended as a good one. With few exceptions, it was a season of realistic prices. There were odd times when the market rallied, but it ended on a low ebb. The dry autumn, the financial climate of farming, and the future trend of the lamb market—all were relevant factors affecting the breeding ewe market Many fanners would have found that ewes bought the previous season had proved to be rather dear. Consequently, they played the market this season more realistically. i During the season, 205.500 ewes changed hands at district fairs in Mid and North Canterbury, including Kaikoura. This was a rise of 14,000 on last year. While entries at some of the two-tooth fairs were well down, they were more than offset by larger yardings of adult ewes at some Mid-Canterbury fairs. A strong point of the season was the good demand for Romneys, which clearly held a premium over fine-woolled ewes. This was regularly evident at Addington, where a convervative margin in favour of the Romney would have been $1 to $1.50. Another factor in the strong Romney market was that with so much crossbreeding being carried out, the supply was much smaller than usual. Not surprisingly, both two-tooth and cast-for-age Romneys were keenly sought at the weekly markets. For vendors, the strongwool two-tooth fair at Tinwald was the best of the season. But as agents pointed out, there were good reasons for this. At 15,500 head, the yarding proved to be quite insufficient. For size, it was only a shadow of those of a few seasons ago. With regular sales at $9 or more, many of the young Romneys looked dear enough. However, many of these top-priced sheep would be shorn before tupping, and their outlay reduced accordingly. The $1 a head under the sheep retention scheme would also help the buyer of ewes in this price bracket. In contrast, most fairs where fine-woolled sheep, predominated, rarely came up to expectations. This became evident early in the season, when the southern

Amberley fair, which is usually a trend-setter, again failed to live up to its reputation. I But times change, and so do sheep and their reputa- ! tion. The Amberley northI em fair appears to have disi placed the southern fair as . a place where regular buyers are prepared to pay a premium. I Again this year, ewes from the East Coast were in particular demand. This was one of the best sales of the series, two-tooth values being well ahead of rates for similar ewes at Addington. Hawarden was another fair where prices failed to come up to expectations, and the cast-for-age ewes off tussock touched the lowest point of the season. Because of outside interest from the North Island and Otago, the Culverden fair was something of a bonanza for some vendors. However, sheep which did not attract the bidding of the visitors maintained the trend of other fairs. Considering that both the export schedule and the wool market have improved, $7 did not look out of the way for a good twotooth. But as the season progressed, many could be bought for much less. As reported during the ewe fair season, many ewes were $1 to $2 back on last season. In the case of adult ewes, this was not unexpected, as many ewes purchased at $6 to $6.50 the previous season, were, as events turned out, very over-priced. Where standard lines got to within $1 of last year, it had to be regarded as a good sale. Genuine agemarked ewes continued to attract good competition, but many ewes carded as five-year-olds are, in fact, only a one-year ewe. Farmers are among the first to take up arms when a manufacturer sells something under an incorrect label (such as a nylon jersey as woollen) yet they, themselves, have no qualms about misrepresenting the age of their sale ewes. This is a situation which could be tidied up by the selling agents. Toward the end of the season, it became evident that dry conditions were seriously affecting the market. Buyers could not buy in as many as they would have liked. And at this stage, many farmers were already feeding out large quantities of straw to their existing stock. Unless they are able*to purchase replacements be- , tween now and the spring, it appears many farmers will have to make up for reduced flock numbers by growing more crop.

The sheep market, at least in North Canterbury, has been in the doldrums, but time and an improved wool market may give it the injection it needs.