LAMB RICES

Pahiatua Herald, Volume XXXVI, Issue 11028, 28 December 1928, Page 2

LAMB RICES

THE OPENING RATES. The opening prices for this season’s lamb were the basis for some interesting observations made by Mr Mi. A. "Elliott to a “Mnnawatu Standard” reporter in making a comparison of this season’s rates with the figures ruling at various periods during last season. “Prices in Hawke’s Bay,” said Mr Eliott, “have been announced as 9£d for prime lambs under 361bs, 9d for lambs between 37 and 421bs, and Bjd for those over 421bs. Th e latter price is also being offered for second quality. All weights of wethers are bringing 30s per head, equivalent to 6d per lb, while 20s per head, or 4d per lb, is being offered for ewes. “The Wellington-West Coast works have not yet opened and will probably not do so until early next month. The prices quoted may alter before then, but it is unlikely that there will b e , any material difference. “Last season’s opening prices,” added Mr Eliott, “were about id lower for lamb, id to Id lower for wethers, and id lower for ewes than the present rates. It is difficult to form an opinion of the reason for the stimulation in opening values, but at the London end they are a great deal lower than they have been during the past three or four months. “Best North Island lamb under 361bs started at 10fd in London in January of last season, which was about the date of the first arrivals. In February prices dropped to 9 id, in March to 9d. and from then onwards steadily lose from April to August. Since August there has been a steady decline, and the latest cables state that the price has gone down to below lOd, “Second quality lamb has dropped from 10d in August to 8-Jd at present,” said Mr Eliott. “This time last year best quality lamb was selling at 9jd in London. Wethers started the season last January at6Jd, and values subsequently fluctuated, fh© highest level being reached with 7Jd in August. Since then the mdrket has declined to 6 id. Ewes started in January at 5d and rose later to 6d in September, but have now declined to 4ld lb. “At present,” he concluded, “ther e is a difference of about lid lb for lamb between London prices and opening rates in New Zealand, and there will be about Id difference on wethers and ewes.’’