Optimism Over Rising Sheep Values

Manawatu Times, Volume LIV, Issue 7191, 24 June 1933, Page 3

Optimism Over Rising Sheep Values

CAUTION ADVISED Not all of those in attendance at tho Feilding sale yesterday shared tho obvious spirit of optimism which prevailed as the spirited bidding for all classes of sheep saw values harden. Export buyers set the pace in competing for the offering of fat lambs, and while their calculations averaged out at round about current schedule rates, there were indications of an advance and this apparently confident buying influenced the store market, which responded to a surprising degree. The opinion was expressed by those who feel that farmers may be inclined to stampede the market, that there was hardly sufficient evidence to justify t.lie confidence displayed, claiming that •the overseas market was not that strong to warrant wliat amounts to a gamble. Values yesterday in the case of store sheep literally jumped, and vendors will congratulate themselves on their good fortune, but the position is not one which can be claimed to be entirely sound. Apparently sheep farmers are satisfied to accept any upward movement in fat lamb values, as justification for paying higher prices for ewes in lamb, but past experience does not warrant this confidence, particularly with world conditions so unsettled.' Caution is urged by those who express concern for the outcome of the "unusual buoyancy registered yesterday, for it is not known what influences' have actuated export buyers ■ n their competition for the offering of fat lambs. It may be that one section of the overseas interests operating is simply out to fill pledged commitments," and is compelled to . force the naco until such time as obligations are

fulfilled .There tiro many factors which can explain a sudden buoyancy which has little, if any, sound justification on tho overseas market, and it would require a much stronger tone at Home to warrant any extravagant outlay on ewes in lamb. What (he future holds in store no one can say, but there is very sound reasons why sheep farmers should practice tho utmost caution.