FEED PLENTIFUL

New Zealand Herald, Volume LXXVI, Issue 23489, 28 October 1939, Page 7

FEED PLENTIFUL

CONDITIONS IN WAIKATO BEEF PRICES DECLINE FAT SHEEP ALSO EASIER [from gur own correspondent] HAMILTON, Friday Ideal growing conditions have been experienced and feed is plentiful in all districts. A feature of this spring, compared with. this time last year, is the absence of cold winds. Heavy yardings of cattle have been coming forward at all centres and, with the present flush of feed, the demand for grown store cattle have remained firm. At some sales younger cattle have not been as keenly sought and in these cases values for this class have eased slightly. Large entries of boner cows meet with good competition and sell readily at recent firm rates. Pennings of dairy cattle are 'becoming smaller and in most casesi the quality is not up to previous standards, but buyers are still active. There is still a keen inquiry for yearling Jersey heifers and prices for this class have remained fully firm. Very few store have been offered in this district this week, but an offering of store wethers at the central yards next week will doubtless attract. considerable attention. Conditions in the various sections are:— - BEEF Larger offerings of beef have been marketed this week with the result that prices iiavo shown an easing tendency. Prices for fat cattle have held up well this month and it is only to be expected thai; from now on j values will ease. Contrary to expectations heavy entries of both ox and cow beef were J penned at tbo central yards on Tuesday and i fewer outside buyers were operating, with I the result that prices for bullocks were lower ! by £1 a head, while cows and heifers, which j have met a particularly buoyant market at i this centre for some weeks, depreciated by j £1 to £1 ss. Extra choice ox was quoted from 35s to 37s per 1001b. Heavy prime l bullocks made £ls to £10; prime. £l2 10s to £l4 10s; light, £lO 10s to £l2; extra prime young cows and heifers. £lO to £11; prime, £S 10s to £0 10s; lighter, £6 10s to £B. V MUTTON As in the beef section larger entries of fat sheep have been forward this week. Many farmers have finished shearing their dry sheep and this may be partly responsible for the increased offerings, as the bulk of the entries now comprise shorn sheep and at this time of the year sheep out of the wool fatten readily. The yarding at the central yards on Tuesday was the largest for some weeks. Here also fewer outside buyers were operating, consequently the rises recorded at the two previous sales were lost, prices in many ! cases being lower by 4s per head. Ewes ' showed the biggest depreciation, but many pens lacked the quality of previous offerings. Prime woolly wethers made 28s to 335; prime shorn wethers, 25s to 28s 0d; lighter. 22s 6d to 24s 6d; heavy prime woolly maiden ewes, G7s to 30s; prime shorn ewes, ISs to • 225; woolly ewes, 20s to 255. j PIGS j Increased offerings of fat pigs are now i coming forward at all centres, but buyers have not displayed the same keenness this ! week as previously. It was expected that j the Government price for bacon would have! been announced at the end of last week, but i so far nothing definite has been disclosed, j In the meantime local, curcrs are buying j only sufficient for immediate requirements, : while exporters do not care to purchase heavily as it is anticipated that the Government price will be below present rates; Store pigs still meet with a ready sale at slightly reduced rates. Baconers sell from £3 5s to £3 10s; heavy porkers and buttermilk pigs, £2 15s to £3; medium porkers, £2 9s to 14s; light. £2 2s to £2 Ss.

EAST COAST VALUES [by telegraph—OWN correspondent] G'ISBORNE, Friday At the annual dispersal of two-year-old Aberdeen Angus bulls from Mr. H. B. Williams' Turihaua Stud the demand was quieter because of the smaller number of station cattle in the district following the severe cutting down of herds at the end of the past summer's long dry spell. Two-year-olds aver-j aged slightly above 32gns, compared with] 51gns last year. The highest price of GOgns was secured for a bull sired by a bull of Mr. Williams' own breeding, this sire being Jaque of Turihaua. Offerings in all sections at the Matawhero stock sale met with a good demand, especially store sheep. Woolly ewes with lambs reached 25s Od. The market for fat sheep was also firm and the First fat lambs of the season changed hands at 17s Bd. The beef offering met with a very good sale. Some good station cows were offered, the best pens making £9 12s, £lO and £lO 1-ls. An extra good Jersey cow, prime and. heavy, made £S 4s, and good Jersey cows from £4 17s 6d to £6 3s. Fat woolly ewes made 19s 9d to 225; shorn ewes. 14s; good wethers, 23s 7d to 245; hoggets, 19s Id to 21s; second-grade ewes, shorn, 12sp woolly. 15s. Store sheep: Shorn ewes with lambs, 20s 2d to 20s 7d; woolly, 21s 3d and 2os Dd; wether hoggets, good, 20s 6d to 21s 3d; wethers, 21s lOd to 22s Gd; store ewes, young, 15s; aged, 10s 7d to lis Sd; good solid Southdown hoggets, 17s 2d.

.UNITED BUILDING STEADY PROGRESS SHOWN CONSOLIDATION OF FUNDS "Figures for the year show steady progress and the financial position is sound," said Mr. W. N. Leatham, chairman of the United Permanent Building and Investment Society of Auckland, at the annual meeting yesterday. He added that international and domestic changes,' far-reaching in their effects, had changed those established standards by which values in terms of money had hitherto been appraised. "With general world-wide conditions so doubtful it has been the chief aim of the directors to build up and consolidate the funds, thereby assuring security to clients and a fair and reasonable return to members on their invested funds," added the chairman. "The directors regard with satisfaction the sound condition of the society, and take pride in the fact that its funds are employed usefully and profitably. In 1935 the King told the conference of British building societies' that they, with their funds of £555,000,000,' had been the greatest factor in the rehabilitation of Britain after the war."

Tlie retiring directors, Messrs. J. Smith and T. E. N. Wade, were reelected. The report and balance-sheet, as published in the Herald on October IS, were adopted.

TARANAKI OIL FIELDS OPERATIONS OF INDUSTRY Details of the incorporation of Taranaki (N.Z.) Oil Development Company, N.L., in February, are given in the report of the directors of Taranaki (N.Z.) Oil Fields. N.L., for the year ended April 30. The interest of Taranaki (N.Z.) Oil Fields, N.L., in the current operations of the New Zealand Petroleum Company, Limited, is now limited to -the right to receive oil royalties in respect of licensed areas in New Zealand approximating 1400 square miles in which Taranaki (N.Z.) Oil Fields, N.L., and its subsidiary and associated companies were interested. One hundred fully-paid shares and 242.979 contributing shares of £1 each in the capital of Taranaki (N.Z.) Oil Development Company, N.L., paid to Is a share, were taken up for cash in tlie first issue, in addition to the 4740 fully-paid shares issued in terms of its formation agreement. The latest report issued by New Zealand Petroleum Company, Limited, is that tlie Totangi No. 1 well has been sunk to a depth of 5000 ft.