FAT LAMB TRADE

New Zealand Herald, Volume LXXIV, Issue 22864, 20 October 1937, Page 11

FAT LAMB TRADE

GOOD SEASON EXPECTED EXPORT KILLING NEXT WEEK BETTER PRICES INDICATED A good season for the export of fat lambs is foreshadowed. The spell of settled, sunny weather, under which lambs thrive best, has been ideal for bringing them forward. Some warm rains are necessary for pastures, but the progress of the lambs has been so good that a severe setback could bo brought about now only by most abnormal conditions. So far 110 killing for export has taken place. A start will be made about the middle of next week. It is expected to send the first shipments by the Karamea and the Bangitiki. The Karamea, after loading at Auckland early next month,* will leave Napier about November 10 for London, while the Bangitiki, which is due here on November 6 to commence loading, will sail finally from Napier on November 18. These ships should reach London in time for their consignments to meet the Christmas market. Last year an early consignment of about 800 lambs was despatched in the last week of October, but the initial shipments this season are rather later, as no early despatch of which exporters could take advantage was offering. Importers have not yet named their prices, but an early announcement is expected. Opinion in the trade tends toward an opening schedule of lOd per lb. for prime quality. If this materialises opening levels will be most satisfactory in comparison" with recent years. Buying for the main shipment before Christmas last year was done mainly at OJd for prime quality, and 9id for second quality on hooks at works. In 1935 the price of 9id was paid for exceptionally early lambs and Sid later for prime quality. The London market outlook is favourable, although at present values arc slightly easier, owing to heavier competition from hoiiie-killed larnb. Consumption, however, has been maintained at a very encouraging level for some time past. The general tendency of the British market is to absorb larger supplies of lamb and less mutton"! Exports of lamb from New Zealand for the year ended_ September 30 wore a record at 9,187,369 carcases. With the heavy lambing that has taken place throughout the Dominion and the favourable conditions it is possible that last year's record may be quickly broken.

QUOTATIONS FOR WHEAT LONDON AND LIVERPOOL FUTURES IN CHICAGO LONDON. Oct. 18 Wheat. —Cargoes are easier and parcels are inactive. Futures. —London: October, 4os Id a quarter; November, 44s 7d. Liverpool: October, 8s a cental; December, Ss old; March, 8s 2d; May, 8s ljd. CHICAGO. Oct. 18 Wheat. December. 99i cents a bushel; May, 1 dollar; July, 93J cents. FARMING CONDITIONS NORTHERN WAIROA DISTRICT URGENT NEED OF RAIN [bv telegraph —OWN correspondent}' DARGAVILLE, Tuesday "It is unfortunate for Northern Wairoa that the season has not been very favourable, mainly on account of the very wet winter, and now, although the present dry spell has been of considerable benefit to low-lying areas, the district as a whole is in urgent need of rain," said a Dargaville stock agent in discussing the farming situation of the Northern Wairoa district.

Commenting upon the store cattle market, the agent remarked that while there had been a very strong demand for all classes, prices were now much easier than a month a£o as a result of the dry weather. There had been a considerable amount of free buying and this would revive with the advent of rain. In the absence of wet weather the rasing tendency would continue, and if there were no rain within the next 10 days he thought the store cattle season would come to an abrupt end. Of the dairying industry the agent said that because there was not the weight of feed going to waste that could usually be expected at this time of the year, prices on the market had shown an easing tendency as compared with those ruling a month ago, although values on the whole were still well above those of October of last year. The main demand rc as for young hei f crs. Although the dairy season was in full swing, production was retarded by the condition of feed offering. The agent was most optimistic as to the prosnects for the coming fat lamb season. Northern Wairoa was essentially a dairying district. The best lambs were produced upon mixed farms and thetrade in this respect, although limited, should represent a substantial proportion of the year's income.

SALE OF SHEEPSKINS PRICES DECLINE AT DUNEDIN [by telegraph OWN correspondent] DUNEDIN, Tuesday A sale of sheepskins was held to-day. when there was a full bench of buyers, and large catalogues were offered by the various selling brokers. Owing- to a lack of overseas orders and the depressed stale of tho market caused through the uncertain international outlook and the restricted American and Japanese competition, prices were from od to V»d per lb below those ruling at the last auciiort. Following is a ranee of prices:—Fine half bred: Full-wool. Kid: thrcequarter-wool. to ll!jd; half-wool, to 0 3 ,« d; quarter-wool, to !>V 4 d. Fine crossbred: Full-wool, to lUid: threequarter-wool, to lOVid; half-wool, to lUd; quarter-wool, to 7 3 id. Medium crossbred: Full-wool, to 11 V«d; threequarterwool, to 10/ id; half-wool, to nd; quarterwool, to T'/jd. Strong crossbred: Full-wool, to J U'ld; threeqi;arter-wool, to 10V»d; halfwool, to 9d; quarter-wool, to "Vid. Halfbred hoggets, to r_»d; fine crossbred hoggets, tolid; crossbred, to lO'id. Dead and damaged: Halfbred full-wool,, to livid; fine crossbred full-wool, to ibd; crossbred fullwool, to OVjd; halfbred half to threequarterwool. to OVid; fine crossbred half to three-quarter-wool, to S s ' 2 d; crossbred half to threoquarter-wool, to Sd. First pelfs, to6V»d; ' second pelts, to 2%d