Too many cattle

Press, Issue 33844, 16 May 1975, Page 7

Too many cattle

Heavy yardings have depressed the prime cattle market at Addington during the last two weeks. Values this week were at their lowest level since the cattle market began to show a downturn during the spring of 1973. The yardings at present are well above usual trade requirements, and this undoubtedly stems from the fact that there is a heavy backlog of killing at export works. Faced with a delay in getting cattle handled, manv Canterbury cattle fatteners are taking the alternative of putting stock into the local market, and it has resulted in prices — except for choice light-weight steers — falling below export schedule. Six hundred and twentyeight prime cattle were

offered at Addington this I week, and this yarding followed an entry of 640 the previous week. This week's yarding was ta'.-n up by buyers, be-' cause they had butchers and other clients with paddock space available, but' this situation obviously has its limits under present cir ; cumstances Buyers for the freezing companies appear to be purchasing only what they; require for their local re-1 tail outlets. For a fortnight recently, one of the principal buyers followed the 1 market as a spectator only.r Addington Market can ; accommodate 450 to 500 cattle a week without a price fall: yardings of I about 650 or more are well above requirements. Cattle fatteners. in their own interests, must therefore feed, not flood, the market.