COMMERCIAL

Poverty Bay Herald, Volume LV, Issue 17179, 8 February 1930, Page 16

COMMERCIAL

WHEAT PRICES ATTEMPT AT STABILISATION i Elmc 10l Copyright—United f’rHSR Ansa. > (Received February 8, 10 a.in.) NEW YORK, Feb. 6. Wheal 10-day dropped to new low levels and then recovered well following the decision of the wheat advisory committee to recommend that the Federal Farm Board immediately set up i whe.it stabilisation corporation, for which articles of incorporation are beng prepared. Chicago wheat prices are: March 115 J, May 120$, July 121 J, September 124. MATAWHERO STOCK SALE Little difference was noticed in the market after the luncheon adjournment at the .Matavvhe.ro stock sale yesterday from tiiat reported in yesterday’s issue. The total entry of store sheep was 9269. The following are additional prices : Ewes: Forward old ewes 10s Id to Ids 9d; and a pen of 4 and 6-th ewes in great condition made £1 3d; 2-th ewes up to £1 4s tor a choice pen. Lambs: Heavy skinned big rape lambs made 14s; and good rape lambs 13s 3d; small cull lambs 3s to ss; strong highcountry shorn lambs made up to 12s 6d. Rams: 15 Romney rams sold at 6g guineas; and 5-year Southdown at the same price. Full-mouthed Southdown rams 4jjgns. to sgns. PLANT LESS U.S, ADVICE TO FARMERS WASHINGTON, Jan. 28. The annual agricultural report of the United States Government urges a reduction of all farm output, and warns farmers to plant less, tint to spend more on buildings. There is little in the wheat situation to indicate that prices for 1930 will be much different from those in 1929. World stocks, the report says, will he somewhat reduced by July 1 from those of a year ago, but world acreage will probably be materially changed, and

yields per acre are unlikely to be so low us in 1929. There has been a tendency to increase the acreage in all important exporting countries during the last five years. Argentina’s low prices and loxv yields may tend there to shift crops from wheat to corn. Jt does not, appear) howe'er, that there is any likelihood that Russia will he in a position to export appreciable quantities next year.