STOCK MARKETS

Hawera Star, Volume XLVI, 22 January 1927, Page 10

STOCK MARKETS

AN- optimistic note. ALL POUND STRONG DEMAND. Features of the stock markets during the past week have been the continued satisfactory position in the dairy industry; the sustained strong demand and consequent rise in wool and the firm opinion held by men at -the heart of the wool business that in Britain there is likely to be a decided improvement all round: the generally healthy tone in the business of live stock, of all classes and the remarkably “flush’' state of all farming land, specially in this province, and the resultant demand for extra stock to cope with the pastures. These conditions naturally all react one on the other, to the advantage of the farmer and create a position that is most hopeful and give sound reason for a feeling of optimism. But there is also no doubt that the most favourable circumstances are required to meet the somewhat unfavourable financial position, due to the unsatisfactory increase in imports as compared with exports for last quarter and the 'shrinkage in deposits and increase in advances shown by all the banks. With, therefore, all the improvement in the primary industries, the people generally need to be prudent and thrifty and to look forward -with care to the future. This caution was expressed last week and its importance will warrant a repetition. There has been a firming generally in stock, and sheep and cattle are all in keen demand, owing to tho circumstances mentioned. Farmers are needing more stock, for their pastures are so good and winter feed generally so abundant and crops looking so well that they can afford to increase their holdings of stock. In the sheep. markets there is much activity because graziers have room for more store sheep, and the continued activity of the freezing works is cleaning out all they have 'to offer in the way of fat sheep and lambs. 'For these therefore the position has been very good. The demand for breeding ewes indicated last week has continued, and they are in a strong position. Holders are able to largely command tho market. The fairs to be held shortly should be very interesting because of the favourable position generally. Farmers are all looking forward to very successful sales then. The extra demand created by the advent of Hawke's Bay buyers on this coast, as stated during the week, has been continued and is responsible for the sale of several fairly large lines of cattle. The favourable rains have made the farmers on the other coast able to carry the cattle they needed, but could not until the good rains came and prepared the country for them. Fat cattle are plentiful, but holders do not appear to be much disposed to quit except when they get their price, because of the quantities of feed they have. Th last sale in. Hawera was an indication of the position generally. There were large yardings and everything was quitted at excellent prices. Another fact that should have a decided influence on the course of farming generally is the notified decrease in prices of fertilizers. Many farmers are of opinion that the present healthy state of the pastures is due to the favourable season giving them tho utmost return from the top-dressing used in the past. It will influence them in using more still, and in regular quantities if they can get the supplies cheaper. There is no doubt a strong move has been made in influencing the farming community to an appreciation of the value of top-dressing pastures regularly, and the cheapening of the manures will help materially in its further growth. Much more attention is being given to the growing of pigs for export, and farmers are more and more realising that it is an avenue of farming which can bo successfully and economically pursued on dairy farmers. They must 1 realise that they must ever aim at doing their pigs better by topping them off with a measure of grain. Quality must be the watchword of this as of every section of the farming industry. Dairy produce has been built on that rock as a foundation: the same process must be carried out with the pig industry. And the example of the most progressive countries of the world must bo followed. Tho position generally is very promising, and farmers, realising this, should continue to put forward their very best endeavours to maintain and, if possible, increase the returns and thus improve the position.