WESTFIELD MARKETS

New Zealand Herald, Volume LXIX, Issue 21377, 29 December 1932, Page 3

WESTFIELD MARKETS

VALUES FOR FAT STOCK OPERATIONS DURING YEAR A DECLINE IN PRICES In common with other / primary products, meat has shown a considerable fall in value during the past year. This decline is instanced in the prices paid for fat stock at, the weekly Westfield fat stock sales, where values have depreciated progressively since January. The last sale of the year at Westfield was held on Wednesday, December 21, and conditions ruling then were a fair indication of the low prices farmers have faced, especially within the past few months. Beef sold at 17s per 1001b., and the best prime steers realised no more than £6 15s. Cow and heifer beef sold at 14s to 16s per 1001b, arid prices for best- sorts ranged about £4. At. the last sale in 1931, extra choice ox sold to 23s per 1001b. and choice quality steers at up to £8 17s 6d. Prime cow and heifer realised to 22s and lines were sold up to approximately £6. Sheep did not show such a great decline in prices during the year, due to the export demand providing a minimum value. However, prime wethers now selling at about 15s found sale last year at up to 18s, while levels for ewes were approximately the same. » Rates for Lambs Fall Prime lambs have shown a considerable fall in values. The average price at thp last Westfield sale was about 13s, and exceptional up to 14s 9d. At the Christmas sale in 1931, prime lambs sold to 20s. In this market also, export values provide a level below which prices cannot fall. Prices for calves and pigs remained at a comparatively stable level during the year and- rates ruling at the last Westfield sale are comparable with those of the closing sale in 1931. The following is a comparison of prices realised for fat stock at the closing sales in 1932 and 1931: — 1932 1931 BEEF (per 100lb.) Extra choice ox . 17/- 23/Choice and prime ox . , . . 14/- to 16/- 20/- to 22/Choice and prime cow and heifer 14/- to 16/- 18/- to 22/SHEEP (per head)— Prime wethers ... 10/6 to 15/6 14/- to 18/Unfmished wethers 7/- to 9/9 8/6 to 11/9 Prime ewes 5/- to 11/9 6/- to 10/Unfinished ewes . 3/- to 5/6 4/- to 5/9 Hoggets .'. . . "7/9 to 12/3 8/- to 15/Prime lambs .. 9/- to 14/9 9/- to 20/CALVES (per head)— Runners . . . . .20/- to 70/- 25/- to 60/V.ealers . . .. 12/- to 47/- 15/- to 45/- '. PIGS (per head)— Baconers .. .. 28/- to 44/- 26/-. to 40/Porkers . . . - 33/- to 35/- 18/- to 28/-' Large stores .. 10/- to 18/- 15/- to 20/When the sales reopened this year there was a fairly slack demand for prime ox beef and prices declined by Is per 1001b. to 225. There was a similar reduction for prime cow and heifer beef. Values for sheep were slightly in advance of those prior to the holidays, but prime lambs fell away considerably. Beef at Record Low Level ' A period of falling values was then ,established and in May extra choice ox beef had fallen to 18s per 1001b. In June extra choice ox was selling up to 19s per 1001b. and choice and prime ox and choice cow and heifer made up to 18s. Up to ,15s 9d was paid for wethers, ewes were fetching prices up to lis and lambs were realising to 15s. Since that, time there was no improvement in the general level of prices and on November 2 extra choice ox beef again sold at the record low level of 18s per 1001b". At that time conditions were most unfavourable. The export demand was an unknown quantity and there was every indication that new season's lambs would be sought at practically, unpayable levels. In the last few weeks of the year there was no improvement in the demand for beef, prices for which fell away to 17s per 1001b., and even lower. However, the firmer tone of the London market for mutton and lamb helped to stabilise local prices for these classes of stock. Durthe latter sales of the year disposals of sheep and lambs were made on a fairly sound basis, as exporters have been drawing considerably on the surplus available. Domestic Meat Trade Porkers and baconers have also been in request by exporters and values jn the pig market were generally stable. A feature of the demand for beef during tho year was the inquiry for lightweight or medium-weight cattle. Public fancy now-a-days is more for smaller joints and butchers showed a preference for lighter stock in order to satisfy this market. However, the growth of the auction system of retailing meat always mitigated against the payment of a high premium for the stock most sought after. At 1 one time the Westfield market was very closely associated with; the export demand for stock, but the sales now no longer reflect conditions on the Homo mark et. Tho offerings at Westfield at present serve rather the purpose of tho domestic meat trade and it is rarely that exporters come on the market for their requirements. However, in some lines the export market still serves as a kind of stabiliser for prices. ' SHIPBUILDING TRADE DEPRESSION IN INDUSTRY AUSTRALIAN ORDER PLACED Mr. James Burns, chairman of directors of Burns, Philp and Company, Limited, related a story, on his return to Sydney recently fiom .an extensive tour abroad, to illustrate the plight of the shipbuilding industry in Groat Britain. A new motor vessel is being built at the yards of Barclay, Curie, and Company, Limited, Glasgow, for Burns, Philp's ' island trade, and Mr. Burns placed the order while he, was- in Scotland. He said that, when the announcement was made that Barclay, Curie had received the order tho yards received congratulatory telephone messages from nearly every tradesman in the city. The explanation was simple. Tho tradesmen were delighted'that a vessel was to be built, because they saw some prospect of receiving payment of overdue accounts from shipwrights and other dockyard employees, to whom they had been granting credit during their unemployment. Mr. Burns said that the ship would be equipped with the new two-cycle Diesel engines, which were said to have been brought to such a degree of efficiency that they seriously rivalled the four-cycle type installed, for example, in the island motor-ship Macdhui. If the engines proved as successful as had been claimed the company would place an order for the construction * of a larger vessel with the same type of propulsion to replace the lost liner Malabar in the- Java-Singapore service. ■ After touring Canada and the United States, Mr. B.urns visited the United Kingdom and the Continent. He travelled extensively in Norway, and was impressed by the outlook of the Norwegian people. 'Norwegians, lie said, seemed to livo tho hardest life of all, and yet ho had found them the most contented people in the world. They might well be a pattorn to Australians, who had more than any other people in tho world and were far less contented. ' j