FUTURE OF FARMING.

Otago Daily Times, Issue 20765, 10 July 1929, Page 10

FUTURE OF FARMING.

A WARNING TO PRODUCERS. LOWER PRICES TO BE EXPECTED. CO-OPERATION THE BEST INSURANCE. That the immediate future, as far ,as the man on the land is concerned, cannot be expected to bring the measure of prosperity that lias been enjoyed by farmers during the past two or three years was the substance of a serious warning uttered by the president of the Otago Provincial Executive of the New Zealand Farmers’ Union (Mr J. D. Eevie) yesterday at the first meeting of that body for the 1929-30 season.

Mr llevie said he did not wish to appear unduly pessimistic, but he felt constrained to remind members of the union that indications at present were not very hopeful. There was noticeable in the Dominion’s produce markets a marked decline that was certain to make itself felt in the coming season. It was as well that farmers should take note of the signs of the times. It was not pleasant to be suddenly confronted by falling markets when good prices were expected. The wool market, said Mr Revie, lacked the healthy tone of the past, and he felt certain that sheepowners during the 19291930 season would have to accept even lower values than the reduced prices of the season just past. The position of the overseas markets to-day could not but strengthen such a conviction. In the meat industry, too, there were disquieting signs, which to his mind, pre-indicated less satisfactory returns next year. They all knew that the season just closed did not finish up as strongly as could have been wished. Lamb values early in the_ killing season had been good, but later in the year the grazier’s position became very much less secure. He would like to point out that the state of the Home markets at present was such as to induce the fear that less satisfactory conditions could he expected next year. In respect to the dairy industry, the speaker said he was not very well versed in conditions at present, but the past season had not been all in the producer’s favour. Forward sales had proved to bo good propositions, but dairy companies which consigned their produce had not had nearly as good a year. Farmers could not hope to be able to influence markets or provide against falling prices. That was a matter over which they had no control. But they had an insurance against adverse conditions which could be made quite effective as soon as farmers recognised it. The farming community must co-ordinate all effort and co-operate to reduce costs of production and marketing. The best way to protect their own interests was to unite. In that way the man on the land could safeguard himself againsl unstable markets and falling values in the future. Mr Revie spoke of the work the Farmers’ Union had accomplished in the past. The farmer would have been in a very much worse position to-day had there been no union. A great many improvements had been effected on behalf of the primary industries, and an effort was made at all times to protect the farmer’s interests. In conclusion, Mr Revie expressed the hope that the coming year’s work of the new executive would be productive of ■ much good work in the interests of their fellows on the land. CONDITIONS IN AUSTRALIA. WOOL PROSPECTS ENCOURAGING. (Special to . Daily Times.) AUCKLAND, July 9. Improved prices were realised iu closing wool sales of_ the Australian season last month, according to a prominent Australian buyer (Mr Robert B. M’Comaa), and, although winter rains were urgently needed in some districts, another good clip was expected next season. Mr M'Comas, who is the representative of the Australian firm of Messrs William Haughton and Company, and a director of the Commonwealth Bank of Australia, arrived at Auckland, from Sydney by the Ulimaroa on a business tour.

Improved prices at the close of the season were particularly noticeable in inferior qualities, and this is regarded as a very encouraging sign,” Mr M'Comas said. “The principal factor in realising these high prices was competition from German buyers. They bought very keenly, and two of them headed the list, each buying visibly over 4000 bales. The activity of the Japanese buyers was not so marked as usual, and Mr M'Comas attributed this fact to the decline of the yen owing to the attempt to stabilise Japanese currency on a gold basis. England, France, Belgium, and Italy were operating only moderately, he added, as they found German competition too strong. Neither American nor Russian buyers were visible on the market, although some of the offerings would ordinarily have proved very acceptable to the Russian trade.

“The pastoral position in Australia at present is very favourable.” Mr M'Comas said. “ However, over wide areas, prin cipally in the Riverina districts, the winter rains have yet to fall. Unless they come shortly, the position for the coming spring and summer will not be hopeful