FEILDING STOCK MARKET.

Manawatu Standard, Volume XLIV, Issue 1197, 20 December 1924, Page 3

FEILDING STOCK MARKET.

: ‘A piece of beef for roasting,” ordered the man. A piece was placed on the scales. “Here,” remonstrated the man, “you’re giving me a big piece of bone.” “Oil, no,” replied the butcher, “I’m not, you’re paying for it,”

YESTERDAY’S SALE. (From Our Own Correspondent.) For tho usual weekly sale at Feilding yesterday thero was a good attendance, more especially considering the proximity of the Christmas holidays. The offering of store cattle was keenly competed for and station linen of well bred cattle were quickly disposed of at a distinct .advance in price. Store sheep also sold well and prices were fully equal to late rates. 1' at cattle sold readily at prices lately ruling but the fat sheep offered were not keenly sought after as the quulity in most eases left a good deal to be desired. Prices realised were as follow: Sheep.—Fats: 24 wethers 35s 7d, 8 do 30s Id, 31 ewes 27s 9d 21 do 26s lOd, 22 do 28s 2d, 16 b.f. 2-th 31s 6d, 24 do 30s 7d, 10 do 28s 3d. Stores: 60 ewes and lambs 15s 6d, 22 ewes 25s 3d, 79 do 29s lOd. 42 forward 2-ths 325, 129 ewes and lambs 22s 6d. 159 fat and forward lambs 240 6d, 49 mixed 2-ths 22s 6d, 42 fat and forward ewes 28s Id, 257 2-tli wethers 30s. Fat cattle.—Heifers £7 ss, £6, £7 12s 6d, £9 12s 6d, £6 ss, £6, rows £5, £7, £6 10s, £8 11s, £5 7s 6d, £6 10s 6d, £7 7s, bullocks £lO. Store cattle. —12 2-vear steers £4 10s, 9 Hereford steers £4 7s 6d, 16 do heifers £3 ss, 16 3-year Hereford bullocks £7 4s, 10 bullocks £8 ss, 29 3-year steers £7 Is, 9 cull yearling Hereford steers £2 16s, 11 do heifers 355, 18 15-mcs P.A. steers £4 Bs, 39 yearling Hereford steers £4 3s, 40 do heifers £3 3s, store cows 395, 60s, 595, £4, forward cows £4 19s, 32 at £4 9s 6d. 14 fat and forward 3-year steers £7 10s. Dairy cattle. —Jersey cross heifers £2 2s 6d, £2 2s, £3 12s 6d, £2 ss. £3 ss, Jersey calves £2 15e, dairy cows £3 10s, £4, £5 10s £6 10s, £l2. springing heifers £4 2s 6d, £3 10s, £5 15s. AUCTIONEERS’ REPORTS. Abraham and William, Ltd., report: A very small yarding of inferior sheep came forward and sold well at late rates. The cattle yards were full and included some very nice lines of well-bred steers. A lurge yarding of fats also came forward. The lone throughout was good, most of the entry changing hands at satisfactory prices. We quote: Fat ewes, 25s to 335; fat lambs, 30s to 35s 4d; ewes and lambs, shorn, all counted, 15s 6d to 22s 6d; empty ewes, 25s 3d to 29s lOd; forward 2-tooths, 325; fat cows, £5, £6, £7 12s 6d, £8 11s, £9 10s, £9 12s 6d; fat heifers, £5, £6 4s, £6 15s, £7 12s 6d. £B, £8 ss, £3 15s to £9 15s; .store cows, 255, 30s, 35s to £2; forward cows, £2 ss, £2 15s, £3, £4, £4 9s 6d to £4 19s; 3 and 4-yr bullocks, £7 4s; 2-yr steers, £4 10s, £5 to £5 18s; Jersey heifers in calf, £2 2s 6d, £2 15s, £3 10.->, £4 15s to £5 15s; springing heifers, £3 12s 6d to £4 10s; dairy cows, £3 10s, £5 10s, £6 10s to £l2.

f Dalgety and Co., Ltd., Palmerston f North, report a small yarding of sheep and j a fair entry of cattle, when there was good competition and all lines changed hands at salislactory prices. Quotations: —Light T fat owes, 26s lOd to 28s 2d; cull 2-tooths, 3 22s 6d; fair b.f. 2-tooths, 27s 9d; M.A. t ewes, 23s Id; forward w.f. woolly lambs, ! 24s 6d ; 2-looth wethers, 29s 7d to 30s; fat ! heifers, £4 15s, £6 5s to £7; fat cows. £5, 1 £5 ss, £5 18s, £6, £6 18s 6d; 4 year bul--1 locks, £8 ss; 3-year Hereford and S.II. steers, £7 Is; 3-year coloured steers, £5 10s; 2-year steers, £4 to £4 15s; yearling steers, £2 18s; 15-month dairy heifers r.w. bull. £2 ss, £2 17s 6d. £3 2s 6d to £3 ss; forward cows, £2 17s 6d, £3 2s 6tl, £3 10s to £4: store cows, to 31s; potter bulls, £4, £4 10s, £5, £5 5s to £6 2s 6d. THE FALL IN WOOL. (By “L.") In the sale room and hotels —and apparently there was someone at almost every hotel in Wellington last week-end who was interested in our staple product—tho allabsorbing topic of conversation was tho drop in wool and what caused it. Some of the growers seemed quite hurt when they realised that they were only going to obtain 2s per pound for tlieir wool and, indeed, many refused to accept the line prices they were offered. I only hope they will not regret their decision. No one expected the sensational opening figures, and few who have any intimate knowledge of the trade expected them to last, especially when the buying was not general, lor Bradford, with all its great resources, cannot lift the whole clip of New Zealand. Yet that was the position for the first few sales. Besides being a good judge of wool, the average Yorkshirqnimi is a very shrewd individual, and when lie becomes interested in the wool trade he finds opportunity for the excuse of all his native shrewdnem. It was therefore expected that when the Bradford buyers found that the Continent refused to follow their lead they would refuse to fight among themselves. This position was accentuated by the ridiculously large catalogues offered during this month. During tho past fortnight more bales have been offered in New Zealand than would have been put into the catalogues in London during the same period, which, with the existing restrictions on bills of lading and the exchange position, was enough to restrict buying credits considerably. These, I believe, ure the causes which led to wool coming hack from the extreme figures paid during the early sales. While the Bradford wool operator is shrewd he is also honest, and I am convinced that this honesty was the primary cause of the opening rates. It may not he generally known that if tops are sold in the Bradford exchange they must be delivered. If therefore a topmakcr sells 50,000 lbs weight of tops he must deliver, never mind how much it costs him to buy. If be fails, then the usual course is taken that prevails on all exchanges where a man fails to keep his engagement. Now, on the Continent a speculator who may or may not be in the wool trade can hnv or sell tops on the spot or for fillnrc delivery, and he need never handle a kilo of them. All he has to do is to collect his profit if he makes one or pay the difference as appraised by the experts on the day of the completion of his contract. The system of dealing in America is the same as at Bradford, although in that case it is raw wool that is sold and not tops. From the information I have and certain signs which can be re>ui by those with msied knowledge, the initial prices paid were caused through one very large firm selling forward at a price which they thought would cover them on the opening prices in New Zealand. Discovering thomselveij out in tlieir estimate, and finding the wool trade in a nervous state, they decided that tlieir sales should be covered in as short- a time as possible and proceeded to buy all the wool suitable for their requirements. It would not lake long for the other buyers to discover the position anti then they proceeded to “hammer” the buyer in question and evidently to some purpose. ’I here is nothing a bench of wool buyers likes better than to catch an opponent short; it is great sport for them. The present position then is that this buyer has filled his coimnilmcuU, and suddenly withdrawing from the market, the other bt vers at once take advantage of the position, with tho result already known. Statistically, wool is alright, but even at the reduced prices paid in Wellington the Continent is not in the market for any big weight of wool and until their idea of values and Bradford’s meet, the. market cannot ho called settled. It is a certainty Bradford cannot continue to lift the '..eight they have done this season. Further, the wool committee would be well advised to severely restrict the offerings so that not more than 80,090 to 90.000 bales r.c offered per month. In the interests of all concerned this is the best course.