VALUES IN WAIKATO

New Zealand Herald, Volume LXXV, Issue 22971, 24 February 1938, Page 9

VALUES IN WAIKATO

SPRING-LIKE CONDITIONS BUOYANCY OF MARKETS CHILLING TRADE - ACTIVE Splendid rains during the week hare creatd a spring-like aspect. Fee<i is in abundance' everywhere making the buoyant tone of the stock market easy to maintain. The demand for sheep continues unabated, although it is doubtful if Waikato values generally' are quite up to those ruling in adjacent localities. Nevertheless large consignments continue to reach Morrinsvillo from outside sources and vendors of saleable lines are always satisfied. Interest has now extended to cattle and the special offering to be submitted at Frankton this week seems assured of a good reception. Continuous activity in the chilling trade has established confidence and with pasture available, any lines likely to mature within reasonable timo are certain to attract attention.

Export operations continue on the same basis as last week. The bulk of the lambs have been dealt with and more ewes have been handled than during the same period a year ago. Chillers are absorbed as they become available, while boners maintain the steady , stream that is customary. The strength of yard competition has again carried these beyond the quoted schedule. Dairy heifers are creating their own share of excitement. That a good prospect .existed was a commonly held opinion but the speculative operations of the past few weeks expose the modesty of all earlier estimates. Forward sales have been made locally np to £9; in Taranaki up to £lO. The retail trade in the future may justify these payments but "it seems likely that many, instead of waiting to prove it, will consider an earlier realisation at something less. Conditions in the separate sections are:— * " BEEF Short entries of beef ljave so long been common that it is safe to assume a district shortage. The display at the central yards this week was again small and in the cow section especially, of plain quality. Fortunately for butchers the range of "buyers : was not wide but notwithstanding a brisk sale resulted with values for ox in advance of last quotations. Good cows, also improved though rougher classes showed little alteration. Prime li?ht ox sold to 40s; ordinary, 33s to 30s; prime heifer. 34s to 365; young cow, 28s to 31 s; young Jersey cows, 200 to 245; rough, 16s to 19s; MUTTON This branch maintains, . steadiness at. a little above freezing values " except for choice pens which generally attract a few shillings beyond that schedule. The entry at Frankton this week was light and gave hope of better results than usual. Unfortunately the demand was in keeping and although a better tone was evident values did not greatly exceed last week's quotations. Prime heavy wethers sold to 31 s 7d; medium, 27s to 20*t unfinished, from 25s Od; best ewes, to 17s Od; medium, 15s to 16s; plain and unfinished, from 12s Bd. A small entry of lambs sold from 18s to 25$ Od. STORE SHEEP Business proceeds briskly and' in fair volume. Although many realise that values are higher than the prospect warrants, competition seems strong enough to prevent any immediate decline. No doubt, as satisfied buyers withdraw the situation will ease but where reasonably, early lambing : is desired purchase cannot much longer be deferred. Visits to outside fairs show clearly that the need for sheep is as pressing in thoselocalities as in our own. While this continues it may put a check on consignments which at present seem not as heavy as in previous years. Morrinsville attracts the bulk which it generally is capable of absorbing, but it also assembles a vast amount of inferior quality which, by the appearance of plenty that it lends, exerts at times a rather depressing effect upon the whole. There does not seem any excess of really desirable sheep. Good four and five-year ewes showing true to age seldonit disappoint .vendors, -tut buyers sometimes hesitate to accept for that ag# a draft that offers suspicious, evidence of a much longer sojourn. The lamb market has greatly strengthened and i$ again approaching that stage where the margin' of profit grows faint. According "to reports' the recent flush of grass is proving toa strong and has definitely checked the welfare of many thriving lots. PIGS At Frankton on Tuesday competition for baconers was again very strong and elevated the top price of £4 4s, Heavy porkers were also in good demand, drawing competition from butter-milk feeders also, but the lighter grades of porkers were somewhat easier.

TAUMARUNUI VALUES ■ [by telegraph—owx corbespoxdest] TAUMARUNUI, Wednesday There was a large attendance of buyers at the Taumftrunul sale, when entries of about 2KOO sheep, 60 cattle and TO pigs were offered. Sheep of all classes sold well at late rates and there was a good de- ■« mand for piers and cattle. Fat wethers made i>4s 9d to 275; tour-ycqr-old ewes, 29s 6ds five-year-old ewes, 194; four and five-year-olds, 21s; old ewes, 4s to lis Cdv-sound mouth, IKb Cd to 38s 6d; ew« lambs, 14s lid to 25s 7d;'wether lambs, 10s 6d to lus 4d; black-faced, 10s to lfis 6d. Pigs: Weanen made Os to 15s; small stores, 1,7s ,to 235; porkers, 31s to 30s; sows to farrow,- 345. BUTTER AT 116/RISE OF 3/- PER OWT. LONDON MARKET FIRM " LONDON, Feb. 23 The butter market is firm. Choicest salted New Zealand rind Australian are quoted at 116s per cwt.; unsalted Australian, 118s.' The. market has risen strongly since the close of last week, the latest quotation showing an advance of 3s per cwt. This is undoubtedly a reflection of the more optimistic tone, aud also of the strong statistical position, store stocks being particularly light... The current level is.now 4s above the London landed equivalent of the guaranteed price, which is about 112s per cwt. • : ...