FARMING COSTS

New Zealand Herald, Volume LXXV, Issue 23160, 5 October 1938, Page 11

FARMING COSTS

INCREASING BURDEN . ; LABOUR DIFFICULTIES IMPORTATIONS OF WHEAT . t "The ever-increasing costs of working, owing to legislation, have handicapped farmers in their year's results," said Mr, F. 11. Flatman, chairman of the Canterbury Farmers' Co-operative Association, Limited, at tho annual mooting in Timoru; Labour conditions' had been difficult owing ;to men leaving farm work for the higher rates of wages ruling in Government undertakings. Since last January, said the chairman, South Canterbury had not fared well wjth the weather, having, suffered from a surfeit of rain during the critical time of harvest and lamb 'fattening. Farmers gonerally had had a trying time, resulting in considerably less income being available from the farms. This necessitated increased support financially by banks and mercantile firms. Tho association had had to-give increased support to farmers to the extent of £32,038, thus increasing v its responsibility in finance, against last year, by £21,836. : A good season in' sheep and to mbs, dairy produce, and crop& couid be looked for, although it was regrettable that through; force of circumstances it would appear that the acreage in wheat .would be very short, and importation to make good New Zealand's requirements would bp considerable next ycfir. Tho season for, wheat sowing whs very unfavourable, and had' been the real obstacle to a sufficient crop being available for New Zealand's requirements next year. - • OUTLOOK FOR WOOL ■ 4 ' LONDON IMPROVEMENT ADVANCE IN CROSSBREDS RISE OF ID TO ID PER LB., Although the wool-selling season in New Zealand will not commence until the first sale in Auckland on November 26, the rise in prices for crossbreds at the recent London auctions of from $d to Id per lb. is encouraging to growers in the Dominion. The trend of the London sales, is generally regarded ag a useful pointer to the prospects for the staple in New Zealand. A further line on the out?, look will be given by the sixth series of London auctions, which will commence on November 22. Competition for crossbreds at the recent series in London was strong, the Continent in particular buying freely. The following table compares the rates ruling for crossbreds at the close of the September and July series in London:— . Sept. July\ d per lb d per lb Superior, 50's .. 11 IOVi Fine, 4S-50'« .. 10 s / lO Ditto, ..- K) 3 /. 0% Medium, 41-10'b .. W, 30% ' Low, -10-41's .. 10% J) ! A Coarse, 36-40's .. None None The carry-over throughout New Zealand from the 1937-38 season -has been estimated at 70,281 bales, against 15.198 bales at the close of the previous season. The latter figure, however, was exceptionally low, and the new season, particularly in Auckland, will not commence with any un,due surplus. There is no heavy accumulation of stocks in the various purchasing countries, as buying in the past season was fairly limited. The United States operated very sparingly, and the fact that tho quantity of apparel wool in that country at June' 30 was . over 3,000,0001b. less than last year, together with the improvement in business conditions, should tend toward increased buying. ' > ■ . Great Britain has not more than | normal supplies of raw material. The Mercantile Guardian states that merchants in Bradford seem satisfied that values of raw material are somewhere near rock-bottom. There has been a general refusal by. top-makers to sell forward on tho assumption that wool will be cheaper. They liavo been/more inclined •to the opposite view arid to maintain a defensive policy.

: ; ... - • .• , '•<" % ' '« .' •,. BRADFORD MARKET EASIER

BUSINESS REPORTED QUIET .-J y • LONDON, Oct. 3 On the Bradford market prices of tops are easier. Business is quiet. j COMPETITION AT* SYDNEY FIRM VALUES RULING ; v . (Received October 4, 10.30 p,m>^ ; , SYDNEY. Oct. 4 The offering at the wool sales to-day was 11,208 bales. A total of 10,640 bales was sold, 816 privately There was strong competition from Yorkshire, the Continent and Japan. Values were very firm. Greasy Merino made 1,61 d per lb. The average price of wool last week was £l3 9s lld\& bale or 9.6 d per lb.v,. ' v.- •• M' i ; . NEW SEASON'S CLIP POVERTY BAY PREPARATIONS [by telegraph—own correspondent] n GISBORNE, Tuesday With the commencement of the now wool-selling season only eight weeks off, Gisborne Sheepfarmers are making preparations for tho shearing season, Except for a little rams' wool and fleece from a few small lots of sheep in favourable localities, no .shearing has been done in ,the Gisborno district yet. If tho lino spell of weather continues one or two of the smaller clips may he completed and sent into town during 'the next week. • ' WHEAT CARGOES DULL FUTURES IN CHICAGO ; . ' ' LONDON. Oct. 3 Wheat.— are dull and parcels are 'lower. Futures —London: October, 23s a quarter; November, 22s' 7Jd. Liverpool: October, 5s 2}d a cental; December, 4s lOjd; March, 4s Bjjd. , ;,U----.CHICAGO, Oct. 3 Wheat. — 64i certts a bushel; • May, 64f cents; July,,' 63J cents. - ' v AUSTRALIAN GYPSUM Profit of Australian Gypsum,v Limited, Sydney, for tho year ended June 30 last was £29,052, against £26,073 for, tho previous year. It represented 8.33 per cent on capital, against 7.46, per cent, and the dividend was raised from 7 per cent to 8 per cent. The main asset is 200,000 shares of £1 each in Australian Gypsum Products Proprietary, Limited, which are valued in the books at £350,000. This is the main source of income. Although tho profit suggests that a dividend of 15 per cent was received from the working company the .actual rate was not; disclosed, nor were tha profits of the working company,