THE FUTURE OF FARMING.

Dominion, Volume 2, Issue 501, 7 May 1909, Page 8

THE FUTURE OF FARMING.

MUTTON OR MILK? PROSPECTS BETTEH THAN THEY LOOK. The outlook in many branches of farming is-'an-uncertain'one To-day butter is very abundant in England, and those who aro fighting to keep up tho piices aro reported to bo having difficult work. The meat stores aro full, and shipments of lamb to arrivo in London-.in. tho nest weokor two will probably have to bo sold ox ship at glut prices. ■Wool, though dearer, has had a stormy pas'sago up, and hemp, as everybody is saying, is waning. '■..■. But these transient dips in tho prices must como in tho most .flourishing of industries. ~■ They- liavo happened at frcqueni periods before, and recovery has always'.followed. Just as low prices of ono commodity cause those producers to whom it is convenient, to.divert their energies into othei channels, and thus lessen the pressure o: competition, so do high prices in anothei commodity stimulate energy there, and thui avert a famine. .Tho high prices of buttei ■■last year told the world that' the outpui was not equal 'to tho needs, and there fol lowed increased production. Part of th( increase has no doubt been duo to : the bettci weather experienced, but part also may bi attributed to; greater effort. Britain is thii season, enjoying cheap butter, but the price, are such as leave tho production of butte: ifi Now Zealand still profitable; and with tin cheese industry ,as an easy alternative fo: the diversion of the raw material, the dairy ing industry in Now Zealand remains ono o our. most solid securities. Prices of butte: will no doubt bo higher when tho day comes fpr.. merchants, and agents tof.make.'thei: bargains with Now. Zealand factories, ant that.consideration is the ono that most af fects the pockets.of tho dairy'farmers. Al ready'the local, price; for winter butter i: increased. Tho great fluctuations of las year in London unsettled both tho world'i supply and the demand,,'and it is taking timo for butter'to find'its prop'er'.leyel o price again. ' '•■,.:■ In wool the: samo disturbance happcnoi from a similar, cause, and after tho un steady, rise and, fall experienced in the-lasi fow sea-son's wool is again apparently 'finding , its proper level of.. value'. Less unsteadily havo the 'fluctuations in tho prices of, ; mutter and lamb shown tho operation of the sam< law. this season. But .one is'-. apt' to thihl much of 0110" or two' shipments, of meat sole at a sacrifice, and:,very little of those cir cuinstances which havo been in the industry 1 ! favour. 1 . With' the enormous output of thi: season it is not a matter for wonder thai prices are - down; a greater wonder: is thai they held-..-.their position so. long as thoj did. It was tho frequent comment of'buyers that;.tho prices,..were, wonderful in 1 vie>\ of tho. supplies'to hand and hi sight; A ,big output'and'fairly-low' price's are usuallj better in tho. final - result than f amino, quantities and prices.. Where' sheep .'farmer: raised and.fattened their own sheep and lambs without intermediate ''dealings' in/store stock, it is doubtful if their final income will bo below tho avorage of a number of years past.' l : ■ '~-• ■ .- ',' /'..■■':'■'- '-, Human naturo is moroprono to fret ovoi tho few-extra. shillings that, a co'mmoditj might'have fetehdd. than'to rejoice, over the fact that the pried paid yields a profit; and against; this, 'tendency'.the farmer of all men must, if he'desires to preserve his peace of;, mind. ;bo'oii his guard.; ;Prices' have fallen in tho' past' and will'.vary'in thoiuturo, but amid it all!tho greaV'fact, remains that sheep farming; beef..raising, dairying, and wool-growing still pay handsomely..;'. There was a.time, before :tho : days of .'refrigeration, when' Now.'Zealand farmors madoends meet on tho proceeds of their wool alone; counting the carcasses as .'of little account—-just afew/pounds of. tallow:.- '.To-day ■ thoy gei approximately tho samo prices for tho wool, and ;most of wliat ',conies:.back : for the lamb and mutton is,therefore clear profit over the proceeds' ofothbi.old days'.'-..The"cost of procheaper inVfesj)cct ( of 'labour becauso' of.improved;-. machinery/ cheaper, in .respect of. : weight' of' wool per sheep because of.the.achievements of the skilled breeders, who havo .'.leavened up tho, flocks of tho Dominion; and cheaper in", respect of.- modes ol transit. . Only in respect of the' increased cost',of land—if wo' except' tho alleged ' increase : iri the extravagant habits of: tho .entiro community—aro expenses' greater. But, in truth, deep down in th© bottoms of their hearts the farmers as a. whole dc not seriously 'regard 'tho outlook as unpro; mismg,.:'and:-.the usual, expansion 'both 'in ' dairying and in .sheep farming may be anticipated for next, season'., Tho auxioty.-is merely transient; the, : variations.; in price! aro mcro ■ adjustments; but the. confidence ic ' the; future is deep-seated;'' stalwart'; and per--manont. .'.Now'-Zealand's net,incomofrom hei -fannirig: ; 'cxports:ythis;'. :: seasdn. r w,iU. pr'obdblj Ibe returned as a ';': ,'■;''.; . ,