WAIKATO STOCK MARKET.

New Zealand Herald, Volume LXVIII, Issue 20890, 4 June 1931, Page 5

WAIKATO STOCK MARKET.

LITTLE CHANGE IN VALUES. FAT SHEEP FOR EXPORT. Unsettled weather lias prevailed in the Woikato during the week, making winter feeding necessary in many cases. T'ne market shows little variation since last report. There seems to be an entire ah sence of speculation, actual farming requirements in all cases determining the limit of purchase. The introduction of export competition into the fat sheep Bcction is very welcome and encouraging, and although 110 immediate alteration of values may result tho effect must be to relieve the market of a portion of the surplus lhat is congesting it. Conditions affecting tho individual sections are as follows: BEEP. In the main centres throughout tho dis trict beef has been selling at equal to last week's quotations, but at the central yards 011 Tuesday n small entry established firmer values. Prime ox fold at 23s per 1001b; ordinary quality, 21s; plain. 18s: prime heifer and young cow, 235; ordinary. ISs. plain. 12b to Its. No veal was penned. MUTTON. A fairly large entry at Ihe central yards met with dull competition and values eased. Export buyers, finding values for the plainer quality under their margin, took part, and obtained a fair portion of the offering. Fat lambs were not so keenly competed for as at tho previous sale. Heavy well-fatted wethers made from 15s to 15s 9d; medium, 12s fid to Ms; light sheep, from Us: best ewes, to lis: medium, 8s to 9s 6d: unfinished. from (is; best lambs, 13s to 14s Gd ; medium, 103 to 12s; from Ss Gd. STOKE CATTLE. The recent sale of station-bred cattle from East Coast districts once again attracted a large gathering of buyers, many from outside districts, and better competition ruled. Prices were not as high as those realised a month ago. but anticipation v.-as exceeded, and most of the entry cleared. Business at ordinary stock sales is depressed. "Marked" heifer calves sell at reasonably high values, considering the dullness of the springer market, but unmarked animals are below tho valuo represented in rearing them. Values in this section are:—Grown steers in forward condition. £5 to £5 15s: good quality stores, £4 5s to £4 15s; rising three-year steers, £3 10s to £4; rising two-year, £2 10s to £3 ss: small, 35s to £2 ss; station heifers, two-year, £2 5s to £3; station heifers and cows in calf, £3 to £3 15s: empty station cows (fresh), £3 to £3 10s; local bred, £2 to £2 ss; stores. £1 to £1 ss: Jersey calves, unmarked (best), to £2; medium, £1 to £1 10s; small, from 10s; steer calves, 5a to 15s. STORE BHEEP. There is no' alteration in this branch, business in all lines being slow. The entry of export buyers into tho fat sheep market may ultimately benefit the store section. Forward wethers sell from 10s to lis; stores. 7s to 9s; empty two-tooth ewes, 7s to 7s Gd; ewes in lamb (young), 9s to lis; fiveyear. 8s to 9s; best lambs, to 7s Gd; medium, as Gd to Gs Gd; small, from 4s. DAIRY CATTLE. A number of clearing sales have been conducted during the week with varying results. Dairy herds are selling at an average value of from £f> to £7, with individual animals as high as £!0. Dairy heifers now form a part, of every stock sale and animals close to profit draw fair competition, realising prices ranging from £fi to £9, according to sizo and quality. The more backward sorts arc not in demand aircl rarely exceed £6. PIGS. The market remains firm at last week's rates, with fair supplies coming forward. Best, baconers are worth £3 5s to £3 10s; medium. £2 17s to £3 3s; light, £2 7s to £2 15s; heavy porkers, £2 to £2 7s; light, from 30s; store pigs, 22s to 28s; slips, 15s to 20s; \veaner3, 8s to 14s. HIGH COST OF WHEAT. POULTRY GROWERS PROTEST. Protesting against tho high price of stock food and fowl wheat, the combined poultrymen of tho Wanganui district laid a complaint before the Wanganui Chamber of Commerce on Monday night. It was stated that poultrymen were suffering from inflated prices and high costs of production, and it was thought that it was the duty of the Government to allow food to be brought into the country at reasonable prices. More was being paid for fowl wheat than milling wheat . Australian wheat could be ..imported at less than half the' present New Zealand price. Auckland stock and poultry feeders this season have been taking advantage of the cheap barley and pollard which has been imported from Australia, and a considerable increase in sales of these products has been recorded. Pollard is selling at from £6 to £6 10s a ton through Auckland stores, compared with around £lO 10s a ton last year prior to tho tariff being taken off. GOLD IN DOMINION. COMPANIES SECURING RESULTS. New Zealand has several mining concerns at the moment showing returns 011 the work and capital involved. On the basis of £4 14s 6d an ounce, net return 011 gold sold by the Mahnkipawa Company to the Australian Commonwealth last month, that company's washup results for the month of May should be worth about £174. King Solomon's wash-up for last week should have a value of about £l4l. A telegram from Invercargill last week stated that the Golden Terrace Extended's wash-up for six days was 650z. Tho value of this is about £307. There are other concerns operating in New Zealand in a bigger way at the moment, such as the Waihi Gold Mining Company and the Rimu Dredging Company. DUNLOP RUBBER COMPANY. DECREASE IN PROFITS. A decrease in profits amounting to over £1.000.000 and tho passing of (he final ordinary dividend are announced by tho Dunlop* Rubber Company (Great Britain). With a capital of over £12,000,000 the Dunlop Rubber Company has interests in almost every country in the world, and its ramifications extend from Argentina to Denmark, from China to America. Thus, it has felt severely the world-wide economic depression. Net profits have fallen from £1,576,585 for to £541,424 for 1930, and the passing of the final ordinary dividend leaves the distribution for the year at 6 per cent.j ;igainst 15 per cont. for the previous year. FRANCE'S GOLD STOCKS. REDISTRIBUTION WANTED. Recently France decided to export some of her gold, and toward the end of April arranged shipments to New York totalling about £4,000,000. This was the first important movement of gold from France to the United Slates since 1928, the year in which France resumed the gold standard Promptly the New York Federal Reserve Bank reduced its buying rate, and tho exchange rates, both for sterling and francs, advanced. It is considered by leading New York financiers that France would have served a more useful purpose had she made her gold shipments to England and other i countries. This view is taken since the surplus gold reserves of the United Stflies represent as great a. problem as I those which France has accumulated. Redistribution of gold stocks is desired, but France has done nothing to help it by shipping gold to America. Commenting on tho situation, tho Guaranty Trust Company of New York said recently that under the persistent ' flow of gold the monetary gold stock of I the Ignited Slates has reached a new high record.