MARKETS REVIEW

Dominion, Volume 30, Issue 192, 11 May 1937, Page 13

MARKETS REVIEW

Dairy Stock Sell Well SOUTH AMERICAN POTATO TRADE Lamb drafts in the Miniawatu are reported to be very good for this time of the year, and this is also so iu Taranaki. Schedule rates remain unchanged at 9jd. The local trade does not affect lamb values. Chillers are being killed regularly in the Manawatu. Values for export beet remain unaltered. Wanganui beefgrowers are perturbed at the nondrafting of chillers. One buyer advises me that he could put 500 Io the works this week and 500 next week, but cannot get space. Fear is felt that, cattle may go back if they are not soon drafted. Waikato and Taranaki fear likewise. Fortunately cattle feed is plentiful as yet. Mutton values, ruled now by local demand, held steady last week, despite rather heavy supplies. Beef was inclined to ease at many sales. Store Stock. A generally easier tone prevails. The continuance of the drought in Hawkes Bay is undoubtedly the cause. A report advises that the ground there is so drv that ploughing cannot be proceeded with in the cropping areas. Hawke’s Bay sheep sent to Bedding have for the past two weeks broken the strength of that market for store lambs and breeding ewes. Store cattle have eased noticeably from the boom prices prevailing live and six weeks ago. This repeats last season’s experience. Dairy Stock. Taranaki reports a very active trade in dairy heifers; indeed, so many have been purchased for the Waikato and the Bay of Plenty that a local shortage is feared by some people. Good, average lines are now worth £7/10/- to £8 —for immediate delivery. A line of 100 recently made up for “export,” two and three-year-olds, for delivery on June 1, cost an average of £8 a head. One line of 30 cost £9, June 10 delivery. Picked truck lots have sold at up to £lO/10/-. Strangely enough, values in the Manawatu have been markedly lower, around £5/10/- to £5/15/-. Here dealers have “got in,” but in Taranaki the market was too high, and sales made were genuine farmer purchases. Cows have been selling in Taranaki at £8 to £9/10/-, herd averages. Odd truck lots of young cows with butterfat backing have sold as high as £l2/12/-. Weaner heifers in this province are in strong local demand. There has been litle outside inquiry. Values range from 50/- to 60/- for medium sorts to 70/- to 80/- for the best. Boner cows are going to works in large numbers. The schedule rate is 14/6 a 1001 b. Fair sorts of cows are worth about £2/12/6. The opening clearing sales of dairy herds in the Manawatu have seen excellent values. One on May 5, near Fox ton, saw a herd of 62 cows average £B/7/6. Top price was £l4. Pig Market. The incessant wet weather of late has, according to one Manawatu buyer, caused “pigs” to develop webbed feet.” Farmers are getting off pigs as quickly as possible, some very lightweight porkers being drafted; even 40 to 501 b. These are quite good meat, when fat. Killing continues in Wellington province, but Taranaki has one works closed owing to lack of freezing space and the possibility of another works closing also for the same reason. Prices remain unaltered. Regarding

I next season, the opinion is expressed that supplies should not decrease. .Store and weaner pigs are now at the lowest ebb. In another live weeks prices should begin io firm. Potato Exports Heavy. The South American potato export trade promises to assume substantial proportions this year. It is reported iliat all available space in May-June boats is booked up and negotiations are in band for Tlulv shipments. The MayJune bookings are said to run into live figures (of tons). New Zealand potatoes are favourites in Argentine owing to their excellent quality. At this season there is no Northern Hemisphere supply available, for it is now spring there. Those interested in the trade are sanguine of building up a sound and enduring business. Argentine has a population of over 19,000,900. Buenos Aires has a greater population than all New Zealand. It is essential that we continue to ship a first-class article, and the grading should ensure this. North Island supplies are now petering out. Only Ohakune has any assured supply. 'This district’s crops are estimated to have yielded from 4000 to 5000 tons this season, almost doubling the previous one’s yield. North Island values firmed this week. Ohakunes are quoted at £8 a ton, o.t. These are of excellent quality. Southerns are very firm. Otago is reported to be "out” and drawing on Canterbury. This province is now supplying the rest of the South Island, the North Island and providing large South American shipments. But crops were heavy and, but for the export trade, the opinion is that prices would have been very low. Southerns are quoted at £6/5/- to £6/15/-, a substanial rise on last week. Shipments to North Island, plus West Coast ports, amounted to 18,400 sacks by May 1. Of these 6600 sacks were made during the week ending May 1. The produce trade has now settled to normal winter trading. Fertilisers are active, with super, supplies still three weeks in arrears of orders. Onions are up £1 a ton. Java maize is landing and will be selling at 6/2 bushel Wellington wharf. Wheat is up Id., the month’s increment. Meals are in normal demand. Pollard and bran are in increased demand. Chaff has firmed and is in Strong demand. ■ To farmers, values are £7/10/o.t. Rangitikei and £7 at Wairarapa stations. Blenheim quotes at £6/2/6, Picton. A Year Ago. A year ago onions had been shipped to Sydney and had given satisfactory returns. Export quality were worth £8 a ton f.o.b. Lyttelton. North Island potatoes were in short supply and worth £7/15/- to growers.