BOOM IN STOCK.

Hawera & Normanby Star, Volume XLII, Issue 7540, 15 August 1902, Page 4

BOOM IN STOCK.

AUSTRALIAN BUYERS OPERATING.

Boom prices for beef ruled at the Johnsonville saleyards on Tuesday, owing to the operations of Mr Webb, a whole?ale dealer from Victoria. Mr Webb bought 46 out of the 76 fat cattle offering. These came principally from Hawke's Bay. fie hope? to secure 500 head of fat stock before leaving the colony, and with that end in view operated at Palmerston, and intends proceeding to Napier. Prime beef at Johnsonville went up to 25s per 1001b, which is easily the record, the highest previous price at tbe jards being 23s 6d, and then only for small lots of phenomenal stock. A well-known Wairarapa breeder has, however, obtained Ll3 per head for prime bullocks intended for Australian consumption, which is a higher price even than that obtained at Johnsonville.

There are said to be eight or nine Australian buyers operating in various parts of the North Island, purchasing both sheep and cattle. The boom seem 3to have fairly established itself. How long it will last no man can predict, but it is confidently asserted by those whose opinions are entitled to weight that unless the drought breaks in the great stock-raising districts of Queensland, Victoria, and New South Wales, there will be a big demand for sheep and cattle in New Zealand to supply the actual needs o£ the populations of the respective Commonwealih capitals untii sufficient stock can be fattened on the spring pastures to meet the local demand.

So far tho rise in the price of meat has not been felt in this city, principally becau&e of the refusal of one of the leading wholesale and retail suppliers to move in that direction, but the wholesale price to the retail butchers has been raieed to 21s per 1001b for beef, and 2|d for mutton. If the present demand holds good and prices harden, it is just possible tbat a halfpenny a pound will be added to the retail price of beef. Of course the boom is of advantage to our farmers who have been lucky enough to have fat Btock in their pastures, and the benefit will be spread over a large- surface, because 11 stores " will go up ift- sympathy with "fats," but if the boom is only to be a temporary one, operations will have to be warily conducted, because the " fats " of lean times m<vy only bring as much in the markets as the " stores " in fat times.

Meanwhile, even if the people in the cities do have to pay a little more for their meat, they will not begrudge the industrious pastoralist the innings which be so well deserves, especially when it is remembered that the blessings whioh the country people enjoy are usually shared in fall measure by those who have their dwelling in the towns. This, of course, leads to the consideration that it is only through the misfortune of the Australians that this boom has arisen. Though we may thank our lucky stars that we live in a country which is subject to no distressful fluctuations of climate, and which is capable of suppling not only our own neods, but those of our more necessitous neighbours, we may jet hope tbat the drought will soon break, and that the Commonwealth will experience one of those phenomenal recoveries for which she is so oslebrated.

In connection with the above, it i 9 interesting to record a number of the meat retailers of this city ioterviewed Mr Sladden, the manager of the Wellington Meat Export Company, with a view to getting the company to lower the present wholesale prices of meat. Mr Sladden expreßßed his sympathy with the views of the deputation, but said that owing to the present high prices of stock, no concession could be afforded. On the contrary, he .intimated that it was quite on the cards, if the present demand and prices continued, that a further advance in the wholesale rates would have to be made. — N.Z. Times.