FARMING & COMMERCIAL

Dominion, Volume 14, Issue 299, 12 September 1921, Page 8

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION BALES FORTHCOMING FIkTURES. TO-MORROW. V Levin Yards, 12 noon.—Stock sale. /WEDNESDAY, Upper Hutt Yards, 1 p.m.—Stock sale. Fry’s Lane, Lower Hutt, 1.30 p.m.—Stock sale (H. E. Leighton). 137 Lambton Quay, Wellington, 1.30 p.m.— Poultry sale (Hodgkins, Carver). WOOL DISPOSAL ALLOCATIONS FOR COMING SALES —- - / DECISIONS OF MELBOURNE CONFERENCE ■'' ' Melbourne, September 9. ' Sir John Higgins, chairman of 8.A.W.R.A., has announced that tho conference of wool representatives unanimously agreed that the allocations for October, November, and December should be 150,000 bales of wool monthly. It was generally agreed that every endeavour should be macle to sell the incoming clip by July 31, 1922,, subject to market conditions, and the demand for raw wool. Sir John;Higgins added that the recent conference modified the resolutions passed in March, 1921, giving direction to the quantity of wool to be allocated for Australian auctions, that it should be not less than the British offering; also that the Appeal Board shall take nrticn from time to time to protect the market value of Australian wool.—Press Assn. FROZEN MEAT LONDON QUOTATIONS. (Rec. September 11, 5.5 p.m.) London, September 10. The latest quotations for frozen and chilled meat are: Mutton? Canterbury, light, Sid. per lb.; medium, 7RI. J heavy, GJd. Southland, 7RI. North Island, 71d.; best, New Zealand ewes, 5Jd. South American, light, 7d.; heavy, 5Jd.; ewes, 5Jd. Patagonian, . light, 6d.; heavy, 5d.; ewes, sd. Lamb. , Canterbury, light, 12Jd. per lb.; medium, 12|d.; heavy, lid.; light seconds, 121 d. . Southland, 12}d. North Island, selected, 123 d.; ordinary, 12id. . , South. American, light, lid. Beef. Frozen Australian, hinds, sjd. Uruguayan ,fores, 4ld. . Argentine, fchilled. fores, hinds, IOJd. . j BUTTER PRICES REDUCED IN ENGLAND. > London, September 9. ' Th'e Government’' butter prices have been reduced; New Zealand first and second grades to 2245., and Aif-traban first and second grades to 20<)s. per cwt. „ —Aus.-N.Z. Cable Assn. AMERICAN PACKERDOM PRECARIOUS PLIGHT OF SMALLER MEN. , American packerclom appears to bo on the verge of serious trouble, and a vivid light is thrown upon the crisis' by Mr. James E. Poole in an article contributed by him to ’’The Producer.” the oificuorgan of the Americin National lave Stock Association. He shows that while tho big packer is weathering the financial gale, the comparatively obscure element is confronted hy the prospect of' elimination. During the war and tho reconstruction period which followed, the small packer thrived. As the Big Five bent their energies on executing Govern-' ment orders, the small'fry picked up the threads of the business. At'the live stock, markets competition revived, and trade seers predicted that, the big outfits had' lost their grip. During the period of high prices small fortunes were made, not only by owners of miniature plants, hut by speculators, who had cattle converted into beef on a) commission basis. A few, who saw.tho handwriting on the wall, got out in- time with their money; -others placed the game ’ conservatively, and are still able to keep their heads above water; but the majority, assuming that the good thing would last indefinitely, became eleventh-hour plungers, and will need to borrow money to pay income tax. The status of tho small packer, present and future, is enigmatical at this juncture. Mr. Poole thinks that unless trade conditions iihpruve, the survival of this type of trade is improbable. Hw disappearance will lie adverse to .the interests of tho producer, as he has been a live wii’o at the market, his present crippled condition having been iu no small measure responsible foi’| recent market demoralisation. A percentage of these. concerns will .undoubtedly go to the wall, as their war profits were either fictitious or not conserved. In fact, it is an open secret that tho Big Five aro in a position to buy an assorted dozen at any prices they like to name. Mr. Boole continues:—“Taking the big packers’ fresh meat ’.trade away from them during the stress and strain, of war was as easy '.as depriving a baby of a stick of candy. The big . fellows are now campaigning to get this trade back. In the case of beef, lamb and mutton, it wifi bo a prolonged fight; but the packer of hogs in a small way is up against what looks suspiciously like a .tone wall, as the residue of 11 is product —meats other than tho 16 per cent, of. the carcass that is sold fresh—must bo carried, and his credit is exhausted. Under normal conditions hp could hedge in the provision pit, throwing tho burden of tho load on tho big packer or the speculator; but tho former is lugging a bag that taxes his financial strength, and everybody making an effort to bull the provision market recently has been under the necessity of taking severe (punishment. Consequently the small packer is without a single support.”

■ Another element in the trade with a somewhat dubious future is the speculator, whether he operates at the market or in the coufttry. Sixty per cent, of the speculators are either stone-broke or approximate that condition. Those in the solvent class have written off staggering losses. Two stock cattle dealers operating on the Chicago market ore credited with having dropped 500,000 dollars since last November, and the picayune element that dabbled in a few heads or full loads is out of the game, some hanging on until they had "scalded” commission, houses. War-period profits vanished in various channels. 1 n fact, it was another case of "easy come, easy go.” On the rise in values these speculators made money so fast as to turn their heads. Mere youths became embryo millionaires. In the Corn Belt the country speculator has been, practically eliminated by the crash. Ho bought cattle and hogs at preposterous prices, only to sell on a falling market. In many cases he had made a little money on* the rise, concluding ■ that he had a cinch of the lead-pipe variety. Into tho cavernous maw of this speculation farms have disappeared, alnd those iwho played the game have, in some instances, been reduced to penury.

cbW-TESTING RESULTS ANALYSED Mr. W. M. Singleton, Acting-Director of the Dairying Division of the Department of Agriculture, has prepared a valuable report on the results of cowtosting in the Dominion. The season reviewed is that of 1920-21. In an interview on tho subject, Mr. Singleton, said that in all 15,480 cows had been tested of tho million dairy cows in the Domin-ion-estimated at 993,473 as on January 31 last. Tho past season was not so good as its predecessor, for there was an exceedingly drv autumn, and the yield of milk from the million herd was consequently much reduced. / Mr. Singleton reports that the 'average of the cows under tost was 20G.421b. of butter-fat in a milking period of 215 days. The average daily yield of butterfat per cow was about one pound. But-ter-fat was worth' well over 2s. per pcuqd. It bad reached over 2s. 3d. as returned to shareholders in co-operative factories during the 1920-21 season. Dannevirko Co-operative Company returned 2s- Bd. to shareholders. Mataura and Rapanui 2s. 9d. Tikorangi paid out 2s. Hid. Eltham Co-operative Company paid 2s. 2Jd. To tako the value of but-ter-fat produced at 2s. per pound for last season was a conservative figure; but Mt.' Singleton believes the yield of tested cows of 0.96911 b per cow por day to bo above the average for tho Dominion herd. ■ As it is, the Dominion’s herd of dairv cows was increased. ,100,000 head last season, and it will bo greatly augmented this current season. The low price of sheep and beef cattle has resulted this season in the diversion of grazing land, to dairying. The demand for cows is exceedingly keen, as stock agents report from all parts of the Dominion, but especially from the North' Island. It is to improve the producing capacity of the Dominion’s milking herd that the tests are conducted, Mr. Singleton stated to a reporter. “My opinion is that unless the Cow-Testing Association members or dairy farmers are inspired through tho testing of their cows to breed better animals to take the place of culls, the greatest lessons that cowtesting can teach are largely lost. Lowproducing cows should be replaced by heifers sired by purebred bulls. Herdtesting will show the paramount necessity that .exists of selecting such a purebred bull from cows which have certificates of record of production. It is to enable farm.ers to obtain bulls with a butter-fat record backing that has caused the dairying division of the Depart- ■ ment of Agriculture to co-operate with ’ breeders in the authentication of the re-' cords of production of purebred cows.” The value of exports of blitter and cheese (to say 1 nothing of casein, dried milk, and other dairy products) for the twelve months ended July 31 last was: — Cwt. .6 I Butter 638,670 8,654,479 Cheese 1,436,707 8,523,669 2,075,377 17,178,148 The value of the combined exports of butter and cheese for the twelve months ended J.uly 31, 1920, .was £9,639,776. Market conditions may not bo so good this current season as last, making it all the more necessary that the cow should do her part to the utmost of her. producing capacity. Mr. Singleton hopes that the publication of the results of the carefully conducted tests above referred to wiR induce farmers to set a watch on their cows for themselves. “Comparatively,” he remarks, "New Zealand has no reason. to be ashamed of the, proportion of her dairy cows being tested. Moreover, there is no reason to doubt’our ability to lead in this respect, and wb trust to see. the number of dairy cows on test increase very materially in the near future.” The farmers’ part, as Mr. Singleton sees it, is in better breeding’, improvement' in the care and feeding of cows, especially during the winter months. Crops must be grown for them in summer for winter feeding. RABBITSKIN MARKET Messrs. Dalgety and Company Limited lire in receipt of a report from their Dunedin office as follows: — AJt Tuesday's sale of rabbitskins, a very large catalogue of skins was disposed of at very satisfactory prices. I In view of the optimistic reports from Home and American markets, it was expected that prices would improve and our expectations were fully realised. All classes of skins met with keen competition, and sold at advances ranging from 16 to 15 per cent, on last sale’s high values. Our super winter does realised 87|d., while blacks reached three figures. Every class of skin, from summers to super winters, sold at an increase on last sale’s rates, spotted winters especially showing a marked 1 improvement. The following are tho prices obtained:— Runners and stickers, up to 3d. per lb.; summers, up to 9Jd. per lb.; light racks, up to 11,(1. per lb.; prime racks, up to 151 d. per lb.; early autumns, up to 39Jd. per lb.; late autumns, up to 51:[<1. per lb.; incoming winters, up to per lb.; early winter'bucks, up to 63R1. per lb.; early winter docs, up to 63R1. per lb.; slightly spotted winters, up to 50d. pe- lb.; spotted winters, up to 40d. per lb.; winter bucks, up to 70d. per lb.; winter does, up to 72d. per ,Ib.; prime winter bucks, up to 72R1. per lb.; prime winter does, up to 74id. per lb.; super winter backs, up to 741 d. per lb.; super winter does, up to 87|d. per lb.; springs, up to 20d. per lb.; winter fawns, up to 52}d. per lb.; autumn blacks, up to 28d. per lb.; winter blacks, up to 66d. per lb.; super winter blacks, up to lOld, per lb.; hareskins, up to 14Jd. per lb.; horsehair, up to 192(1. per lb.; entskins, up to 2d. each; milky, >up to 4]cl. per lb.; summer broken, up to 4d. per lb.; second broken, up tp lljd. per lb.; first winter broken, up to 251 d. per lb.; first silvoy greys, up to BGcl. per lb. HIDE AMD SKIN SALES Further reports on last week’s hide and ski-ii sales have been received from brokers as follow:— New Zealand Loan , and Mercantile Agency Co.—Sheepskins were in small demand, and many lots were passed in. Heavy and medium ox and cow hides wore eagerly competed for at from id. to 2d. above lost sale, whilst pxtra stout heavy were Id. per lb. higher. Light' and damaged hides were about the sumo as previous sale. Calfskins were lower by id. to 1(1. per lb. Tallow, in sympathy with London market, was higher by about £1 per ton. Wairarapa Farmers’ Co-operative Association, Ltd.—Compared with the sale held on August 26 heavy ox hides were in demand) and made up to 151 d. per lb. for special line. Heavy and medium cow hides also advanced in price to the extent of id. per lb. Yearlings were firm. Wo secured the highest price for calfskins, 171 d. per lb. Tallow was firin, and there was considerable competition for tho lines offered. Sheepskins were neglected, and showed a slight decline in prices. New Zealand Farmers’ Co-operative Distributing Company, Ltd.—While (hero was a spirited demand for hides of all descriptions, tho market for dry sheepskins was again flat, prices generally being on o par with last closing rates. There was a slightly hotter demand for tho various grades of ox and cow hides, prices registering an all-round increase of approximately Rl. per lb. On the I

other hand, calfskins were not so keenly sought after, showing a decline of from Id. to lid. on tho last sale. COMMERCIAL ITEMS INVESTMENT SHARES. Saturda}'’B quotations for investment

CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington on Saturday totalled £4127 3s. Bd. LONDON MARKET REPORTS. Australian-New Zealand Cable Association(Bee. September 11, 6.5 p.m.) London, September 10. Cotton.—Liverpool quotation for American middling upland cotton, October delivery, 12.43 d. per lb. 1 Jute—Old crop. September-October shipment, £3l per ton. New Zealand Hemp.—Market quiet. Sep-tember-November shipment, JE3B 10s. per ton. Rubber.—Fino hard Para, 12Jd. per lb.; plantation, first latex crepe, Bjd.; smoked ribbed sheet, 81d. Copra.—South Sea bagged, SeptemberNovember shipment, £32 15s. per ton. Linseed oil. £3l per ton, equal to 3e. IJd. per gallon. , Turpentine, 655. 9d. per cwt., equal to 4s. Hid. per gallon. MINING NEWS WELLINGTON SHARE MARKET. The quotations on Saturday for mining shares were as under:— , Buyers. Sellers. J; s. d. £ s. <l. Blackwater Mines — • 0 6 0 Mt. Lyell ...' C 13 6 — Progress ~ 0 1 U Grand Junction 0 8 6 — STOCK EXCHANGE. By Telegraph.—Press Association. Dunedin, September 10. Sale:—New Zealand Refrigerating (con.), 17s. 6d. : Bruce Woollen Co., 40s. LONDON STOCK EXCHANGE. Australian-New Zealand Cable Association. (Rec. September 10, 6.5 p.m.) London, September 9. The following are among the latest quotations on the London Stock. Exchange:—Broken Hill, 355. 6d.; Mount Lyell, 125.; Boulder, 65.; Hampton, 4s. 9d.; P. and 0., buyers £345, sellers £355. LIVE STOCK SALES Messrs. Dalgety and 00., Ltd., report having offered a fair yarding of sheep and cattle at LeVin on Tuesday. There was a good attendance, and a clearance of Bhecji was made, at satisfactory prices. Cattle were dull of sale, Quotations :-Fat wethers, 16s. 6d. to 18s.; fat ewes, 12s. 6d. to 145.; fat lambs. 14s 9d to 'l6s. 9d.; m.s. hoggets, 7s! 6d. to Ils. 9d.; small shorn hoggets, 7s to 95.; 2-vear steers, 20s. to 255.; springing heifers, ±l3 10s. t<- £27 10s. On Wednesday a clearing sale was held on account of the proprietors of Otorua blocks, when a total clearance was effected Wo quote: Mixed age ewes with lambs at foot, 13s ; 2 knd 4-tooih wethers. 118. 6d.; m.s. hoggets,' 10s.; 3-year steers £3 55.; springing heifers, to ±10; draught horses. £3l. ±29, £26, £lO 10s., implements and sundries sold well. The Wairarapa Farmers’ Co-operative Association, Ltd., Pahiatua report on their first annual dairy heifOr sale held ■in the Mangahao yards on Thursday, as follows:—A full yarding of all classes camo forward, the quality <ind conuition of which was lacking that of previous years, with the result that only a moderate sale resulted There were several buyers present in quest or lines of outstanding quality, but none of these were penned. A fair number of dairy cows carrying guarantees made satisfactory prices. We effected a fairly good clearance, as follows:—Best quality heifers made from £lO to £l4 17s. 6d ; medium and inferior heifers, from £7 16s to £9 10s.; dairy cows from £lO to ±l6. medium cows, £7 to £9 10s.; inferior and late calvers. £3 10s. to £6. ... The Farmers’ Co-operative Auctioneering Co., Ltd.. ,report:-At Hamilton, on Thursday, September 8, Eli eeu were penned in moderate numbers, the bidding being ouick. The yarding of cattle comprised ihostly heifers suitable for dairying purposes and grown steeps off turnips. A number of Hie latter were lack; ing the finish for butchers’ requirements; and consenuently were dull of sa.e, despite tho fact that vendors met the market The empty heifers met with fair competition to a figure which vendors were not prepared to accept in the majority of cases. Wo quote: Fat wethers,' to 225.; good forward wethers, 15s. 3d.; store ewes (few wethers), 7s. 6d.; hoggets, 8s 9d to 12b.; fat steers; medium-weights, £3 12s, 6d. to £9; smaller reliable steers, £6 £6 125.; unfinished steers, off turnips. £4' to £5 165.; other tliree-year steers £3 2s. to £3 17s. 6d.; bad-coloured and poorer, from £2 10s.; empty cows, to ±2 17s 6d. for forward; others, from 10s.; empty two-year heifers, best £5 10s. to £6- 18 to 20-month heifers, £4 to *5 55.; yearling heifers, best, £3 10s. to £3 155.; weedy, fronl £1 10s.; more pigs came forward than the pens eojild accommodate (wc yarded juet over 300). Baconera and porkers sold well, slips and stores were in fair demand while weaners were easier, particularly toward the close of tho sale. Baconers made from £4 15s. to £6 95.; porkers, £3 10s. to £4 12s. 6d.; small porkers, £2 10s. to £3 55.: slips. £1 15s. to £2 195.: weaners, best, £1 to £1 10s.; others, 8s to 175.; sows in pig, backward, £2 12s. to £3; Friesian dropped calves, Jersey heifers, 15s. . to £1 65.: others. 4s. to 6s The New Zealand Loan and Mercantile Agency Comnany, Ltd., Hawera branch, report.—At Opunake, on September 22. the yarding sold, at full market rates. Yearling heifers (mixed colours). £2 10s. to £3 145.;, empty heifers, to £5 12s. 6d.; springing (heifers (good), 1 £l2 10s. to £l5; backward 'and inferior, £9 to £10; cows (best), £2O. At- Palmer Road, on September 25, wc had a full yarding of all classes of stock. Bidding was brisk throughout, and a very good sale resulted. A pen of choice grade Jersey yearling heifers (well grown) made the top price for this season, these made £9 165.; Jersey two-year springing heifers (best) £lB to £2B; backward, £ll to £l5: otlid'' breeds, £9 10s. to £l3 55.; fat and forward cows, £3 to £5; empty Jersey heifers. £7 to £7 10s.: boners at market value, yearling heifers, Jersey cross and Holsteirfii £3- store pigs, 28s. to 375.; fat hoggets. 14s. At Opunake, on September 27, we held our spring horse fair.. Draughts made to £4O; hack and harness horses, £8 to £23: draj' and harness, £37 10s. At Kakaramea. on Monday, we held our fortnightly sale, and also conducted a sale of Mr. S. C. Tonk’s annual draft of springing heifers. The heifers were all three-year-olds, well into the Jersey, iu tip-top condition, and close to profit. These were a choice lot, and met with very spirited .bidding, the, line of forty making the high average, of £2O. The prices ranged from £l5 to £33. ■ On account, of other vendors prices were as follow:— Springing heifers (good), £l5 to £l9; others. £7 to £lO 10s.: sow and litter, £8 55.: store pigs, .’mall, to 365.; fat hoggets, Its. 4d.; empty cows, £1 10s. to £2 5s At* Eltham. on September 30, we held cur fortnightly sain owing to tho Hawera races being held on Wednesday. Fat and forward wethers made Ils. to 13s. 6d • forward cows, to £2 145.; springing cows £l3 to £lB 10s.- heifers, inferior, £7 On Thursday, at Hawera, we had a good yri’dine of both sheep and dairy cattle. Apart from yearlings few store cattle' came forward. Practically the whole ''yarding was sold under tho hammer at' full marliot rates. We quote — Fat and forward wethers. 15s. 6d.;. four and six-tooth wethers. Ils. 2d.; hoggets, to 7s. 9d.: store pigs, to 565.; small pigs, 37« to 425.; suckers, 135.; cows (good condition) to £3 155.: stores, 15s. to 255.; Tersev yearling heifers, to £6 7s. 6d.; others (well grown), £4 to £4 IQs.; Hiiringing heifers (good), £l2 10s. to £l5; ibackward and inferior sorts, £7 to £lO 10s.: cows (medium), th £l5; old and inferior. £7 to £lO. Messrs. Dalgety and Comnany, Limited. Palmerston North, report having a very fair entry of sheep and a moderate yarding of cattle at their Fcilding sale on Friday September 9. Following arc quoi it ions’—Sheep; Mixed hoggets. 6s. 6(1. to 9s • very fair ewe hoggetA 95.; very fair wether hoggets. 9s. Id.; light fat-wethers. Ida 7d. to 15s. 6d.; fat wethers, to 18s. 4d.1 fat maiden ewes, 16s. 9d.; prime fat ewes.

14s. 10(1. Cattle': Store cows, 16s. to 175.; backward dairy cows, £6 10a.; dairy cows, close to profit, td £l7; young Jersey bulls, £lO to £l5.

Messrs. Dalgety and Company, Limited, Palmerston North, report having a small yarding of both sheep and cattle at their Mangaweka sale on Thursday. Quotations:—Small two-tooth ewes, 9s. 7d.; fair two-tooth wethers, Ils.; weancr heifers, 255.; backward and three-quarter dairy cows, £3 12s. 6d.; rough three and fouryear bullocks. £3 12s. 6d. to £4; forward bullocks, to £6. Messrs. Abraham and Williams. Ltd., report on their Palmerston North sale held on September B:—A small yarding of sheep and a fair entry of cattle camo forward. .Sheep: Forward ewes. 6s. 9d. to 9s. 6d.: fat. ewes, to 135.; ewes and lambs, to 16s. 6d.; shorn wethers, 10s. 3d.: shorn hoggets, to Ba. 7<L; woolly hoggets, 6s. 4d. to Bs. 3d. Cattle: . Springing heifers. £B. £lO 10s„ £l2 10s.. £l4. £l5. to £l7; springing cows, £ll. £l3, to £l4; cows in milk. £8 15s. to £9: aged cows in milk, £6 to £7 55.: yearling Jersey cross heifers, a line of 20 well-grown made £9 17s. 6(1.; mixed weaner heifers, 38s. to £3 2s. 6d.; store cows, 55., 6e.. Ils., to 205.; forward. cows, £3 Bs. to £4. ,

Kliares were as follow':— Buyers. £ s. d. Sellers. £ s. d. Inscribed Stock, 1939 Inscribed Stock, 1938 83 7 6 — 83 7 6' — Inscribed Stock. 1933 —— 91 15 0 War Bonds. 1939 83 7 6 —- War Bonds', 1938 83 7 6 —— War Bonds, 1930 — 88 0 0 P.O. Bondy, 1927 90 10 0 — National Bank 5 It 0 5 12 0 Bank New Zealand 2 8 9 — Goldsbrougli Mort 1 10 6 — National Mortgage — 3 13 0 Well. Trust and Loan ... 5 6 0 — Well. Gaa lord.) ...., —— 8 10 0 National Insurance •— 3 16 N.Z. Insurance 19 0, — N.Z. Refrigerating (£1) 1 11 3’ — N.Z. Refrigerating (10s.) 0 17 4 0 17 9 Gear Meat 119 1 12 6 Well. Meat Exp. (£5) ... Well. Meat Exp. (£3 — 4 7 0 12r. 6d.) 3 1 6 3 4 0 Huddart-Parker (ord.) ... — 2 3 6 Kaiapoi WooPcn (ord.) 13 0 — Well. Woollen (ord.) ... 8 5 0 — Westport Goal 17 3 18 0 Wnipa Coal — 0 15 6 Howard Smith Dental and Meuical Sup 2 0 0 — ply —- 17 0 N.Z. Drug (cum.) 2 15 0 — N.Z. Paper Mills 113 — Wairarapa Farmers (£5) Wairarapa Farmers — 5 6 0 'prer.) —— 0 17 0 Ward and Co 1 1 0 15 0