FEED PLENTIFUL

New Zealand Herald, Volume LXXV, Issue 23222, 16 December 1938, Page 7

FEED PLENTIFUL

PASTURES IN WAIKATO DELAY TO HARVESTING DEMAND FOR STORE CATTLE Continued wet weather has considerably delayed harvesting operations in the Waikato and, while rain was urgently required a few weeks ago, a few (lays of sunshine would bo most welcome at the present time. As a result of the good rainfall, feed is plentiful in all districts and, while it is now too late in the season for dairy cows to show an increase in production, the demand for store cattle has improved. Good prices for quality steers and well-bred female cattle have been obtained. At the central yards on Tuesday the advertised steers sold under keen competition, and at the Rangiriri sale 011 Wednesday an offering of 600 head of cattle of all classes attracted good attention, and young steers and female cattle sold at advanced rates. Vendors of store sheep appear to have become reconciled to the fact that they must expect lower prices this season, and a number of sales of breeding ewes for forward delivery have been reported. However, large numbers of breeding ewes will doubtless be forwarded on consignment to Waikato fairs during the autumn and it is improbable that a large volume of forward delivery business will bo transacted. The sale of an annual draft of ewe hoggets at the Mataniata yards on Wednesday aroused considerable interest and, although prices were substantially lower than those of last year, a good clearance was effected at prices up to 29s ,6d for woolly ewe hoggets and to 25s 6d for shorn hoggets. Conditions in the various sections ares— BEEF The market for beef has been maintained at very firm rates and, as exporters have been operating in the paddock to secure supplies, this should exclude the possibility of a surplus accruing, with the result that good prices may be expected on the local market for some time yet. At the Te Awamutu market a good entry of ox and cow beef sold at values fully up to, and in soma cases in advance of, Frankton rates. Prime steers made £ll to £l3 13s, &nd prime cows and heifers £7 to £9. The entry of beef at the Morrinsville centre comprised mostly light weights and here again firm values ruled. A good offering of beef was penned at the Frankton sale on Tuesday and butchers competed freely to fill their requirements Ox beef wps quoted fully firm at previous sale rates up to S9s per 1001b. Prime steers made £l3 to £l4; lighter prime, £ll to £l2 10s. For a largo yarding of cow and heifer beef values were well sustained until the final pens, when competition slackened. The offering of calves was the largest seen at these yards, this year. I rime runners and vealers maintained late rates, but poorer sorts were inclined to ease. MUTTON No improvement in the fat sheep market has taken place during the past week. Entries at the country sales are usually sufficient for local requirements, and values at these centres remain practically unchanged. A very heavy yarding of all classes was penned at the central' yards on Tuesday and. while the top price recorded for wethers at the previous sale was not reached, values generally for this class were firm. Prices for fat ewes again displayed a downward tendency and it appears certain that values for these will steady at export parity. Fat hoggets and lambs sold at fully firm rates, and in some cases a slight improvement was apparent Prune wethers realised 21s to 235; medium weights, 18s 6d to 20s 6d; light, 17s to

18s; prime maiden woolly ewes, to 22s Gd; heavy fat ewes, 12s fid to 14s; prime, lis to 12s 6d; light, to 10s; prime hoggets, 16s to 18s; heavy prime lambs, 22s Gd to 255; lighter, 10s to 21s.

PIGS A buoyant market has been experienced for the large yardings of fat pigs coming forward. Exporters .jire now operating extensively for both baconers and porkers, while butter-milk feeders still compete keenly for unfinished baconers and heavy porkers. Large stores and good quality slips and weaners also elicit strong competition at most centres. Baconers make £3 3s to £3 16s; heavy porkers and butter-milk pigs, £2 12s to £3 Is; medium porkers, £2 Gs to £2 lis; light, 3Sa to £2 4s.

RURAL CREDIT LOANS WAIUKU ASSOCIATION ANNUAL MEETING HELD [from otra own* correspondent] • f "WAIUKU, Thursday The annual meeting of the Waiuku Co-operative Rural Intermediate Credit Association, Limited, was held in the office of the secretary, Mr. J. M. Heise, Waiuku, yesterday. The chairman of directors, Mr. A. White, presided. The retiring director, Mr. F. A. Harcombe, was re-elected.

It was reported that since its inception in 1929 the association had been carrying on a progressive lending policy and at one period . had approximately £BOOO on loan to borrowers. This shortterm finance proved of great assistance during the depression years and was the means of quite a number of farmers becoming permanently established.

TRADE OF BRITAIN IMPROVED POSITION ADVERSE BALANCE DOWN (Received December 15, 5.5 p.m.) LONDON, Dec. 14 The Board of Trade returns for November show that the value of imports to Britain waJ £78,028,000, compared with £97,251,216 in November, 1937, a decrease of £19,223,216. The value of exports was £42,923,000, compared with £45,183,169, a decrease of £2,260,169, and of re-exports £5,113,000, compared with £5,305,646, a decrease of £192,646. The principal decreases were:-—lm-ports: Grain and flour, £3,110,000; beverages, £1,285,000; tobacco, £559,000; iron ore and scrap, £900,000: non-ferrous metals, £871,000; wood and timber, £2,585,000; raw cotton and waste, £3,202,000; seeds and nuts, £1,061,000; rubber, £475,000; iron and steel and manufactures thereof, £1,892.000; non-ferrous manufactures, £1,373*000; oils, £678,000. Exports: Iron and steel. £599.000; cotton and yarns, £1,264,000; wool and worsted manufactures. £492,000: other textiles, £357,000. Re-exports: Non-ferrous manufactures, £4l/ ,000. The chief increases were: —Imports: Meat, £412.000; dairy produce, £201,000: wool. £277.000. Exports: .Machinery. £311,000; vehicles, £593,000.

Following is a comparison of the returns for November for the past three years:— _ Imports Exports Re-exports 1030 .. 78,071,300 38,141,349 4,342,816 1037 . . 07,251,210 4 5,183,101) 5,305,64b 3038 .. 78,028,000 42,023,000 5,113,000 The apparent adverse balance in November, 1936, was £35,887,204. increased in November, 1937, to £46,762,401. Last month the excess of imports over exports was £29,992.000. Corresponding returns for periods of 11 months are: — Imports Exports Re-exports £ £ £ 1030 705,874.701 400,253,785 54,325,556 1037 035,112,230 477,070,810 70,22-1,009 1938 818,172,082 432,141,620 56,902,203 The apparent adverse balanco for the first 11 months of this year is £359.128.259, compared with £387.208,381 in 1937 and £311,295,360 in 1936.