COMMERCIAL

Southland Times, Issue 20499, 30 May 1928, Page 2

COMMERCIAL

WALLACETOWN STOCK SALE. GOOD ENTRIES FORWARD. PRICES REMAIN STEADY. At the fortnightly Wallacetown Stock Sale yesterday, there was a heavy yarding in all sections, and although prices declined slightly in several classes, they remained firm in the main. In some cases the supply exceeded the demand, but practically the whole of the yarding was disposed of. The entries in the various sections as compared with the previous sale were as follows:

Included in yesterday’s yarding were 24 vealers and 12 dairy cows. STORE CATTLE: There was a full yarding of all classes of store cattle, which was probably accounted for by the approach of winter with consequent shortage of feed. The supply exceeded the demand, with the result that prices declined all round, more especially in 24-year-old cattle, which eased to the extent of 10/- to 15/- per head. A large proportion of the yarding was passed in at auction although the majority of the lots was disposed of privately before the end of the sale.

The range of prices was as follows: Two-and-a-half-year-old steers £6 10/-, £6 15/-, £6 18/- to £7 4/-; 18-month steers £4, £4 6/-, £4 13/-; steer calves, £3 9/-; good-conditioned speyed empty heifers, £4 5/- to £4 18/-; speyed cows, £3 15/- to £4; aged and poorer conditioned cows £2 to £2 12/6; 18-month heifers £2 13/- to £3 5/-. In the dairy cow section, good springers or cows just calved realized £6 15/to £8 10/-.

STORE SHEEP: The yarding was a large one and consisted chiefly of aged ewes with a few pens of lambs. The sale was a good one and the whole of the yarding was disposed of at auction. Medium ewe lambs realized 27/8; mixed-sex lambs 23/1; wether lambs 21/4, 21/6 and 21/8; small mixed-sex lambs 15/- and 17/6. Good conditioned, well-framed f. and f.m. ewes sold at from 13/- to 14/-; poorer sorts from 9/6 to 11/6, and inferior lots from 4/6 to 6/-.

FAT CATTLE: The yarding was a heavy one and comprised some wellfinished stock and the usual quota of vealers for the time of the year and unfinished and inferior lots. Prices were quite on a par with those ruling a fortnight ago and the bulk of the yarding was cleared although sales were difficult to effect in some of the pens of inferior quality. Extraheavy bullocks realized up to £l6, medium weights from £ll 10/- to £l3 10/-, and lighter sorts from £9 to £lO 10/-. Extra prime heifers realized up to £ll 17/6; medium weights from £8 10/- to £10; lighter sorts from £6 to £7 10/-. Extra heavy cows brought up to £lO 10/-; medium weights from £6 10/- to £8 10/-; lighter sorts down to £5 10/-. Vealers realized from £1 10/- to £3, with runners up to £5 15/-.

FAT SHEEP AND LAMBS: The yarding was a heavy one both in the lamb and mutton sections. The sale was a good one throughout, but on account of the large yarding prices for wethers eased somewhat. This could be accounted for by the full yarding of good quality ewes. Fat lambs were quite up to schedule and the whole yarding was cleared at auction. Fat wethers opened at a reduction of about 2/6 per head on the previous sale, but hardened somewhat. Fat ewes realized prices similar to those ruling recently. Extra heavy ewes realized up to 48/6; good butchers’ wethers from 32/- to 36/-, lighter sorts down to 28/-; extra heavy butchers’ ewes up to 36/-; medium weights from 22/- to 27/-; freezing ewes from 18/- to 22/-; lighter sonU down to 16/-; ex(ra heavy butchers’ lamb/ brought up to 4)3/9; good freezing lambs from 28/- to 33/-; with lighter sorts down to 24/-. McNAB STOCK SALE. YESTERDAY’S MARKET. There was a larger entry of sheep at the fortnightly stock sale at McNab yesterday than is usual at this time of the season, the entry including quite a number of lines of old ewes for which, however, there was little demand. The attendance of district farmers was small and it would appear that comparatively few are anxious to carry more than their present stocks over the winter months. Some of those more fortunately placed in regard to feed, however, are taking an interest in the wether market and for open woolled good doing sorts of wethers there is a fair inquiry. Most of the lines offered yesterday were sold either at auction or privately. Store two-tooth wethers realized 26/9 and 27/1; with four and six-tooths up to 31/3. A large proportion of the yarding of old ewes was passed-in, but a few lines of good roomy ewes with fair mouths were sold at from 16/- to 18/-. A single pen of ewe lambs was passed at 26/-. There was fair competition for fat ewes and wethers. Prime heavy ewes realized up to 28/3; medium weights up to 24/-, and light and unfinished sorts up to 20/3. A line of prime medium-weight wethers brought 37/9. Sales were as follow:

Wright, Stephenson and Co., Ltd.: 42 fat ewes at 23/3; 9 do. at 28/3; 18 cull ewes at 5/-; 60 ewe lambs passed at 26/-; 30 two-tooth wethers passed at 24/3; 23 f. and f.m. ewes passed, no bid; 46 do. at 17/3; 51 f. and f.m. ewes passed, no bid; 210 two and four-tooth wethers at 31/3.

Southland Farmers’ Co-operative Association, Ltd.: 17 fat ewes at 20/3; 25 fat wethers at 37/9; 14 fat ewes at 24/-; 43 f. and f.m. ewes at 16/3; 20 f. and f.m. ewes at 18/-; 66 f.m. ewes at 14/-; 44 f. and f.m. ewes passed at 19/-; 120 f.m. ewes passed at 10/-; 300 two-tooth wethers at 27/1; 67 f.m. ewes at 12/4; 96 cull ewes passed at 8/-. In conjunction with Henderson, Reid, Ltd., the company offered and sold 56 f. and f.m. ewes at 16/-.

National Mortgage and Agency Co., Ltd.: 32 two, four and six-tooth wethers passed at 25/9; 54 f. and f.m. ewes at 14/-. J. E. Watson and Co., Ltd.: 25 fat ewes at 19/3; 79 f. and f.m. ewes at 16/9. Dalgety and Co., Ltd.: 48 cull ewes passed at 6/-. New Zealand Loan and Mercantile Agency Co., Ltd.: 150 f. and f.m. ewes at 10/6; 227 two-tooth wethers at 26/9. CATTLE. There was a small entry of cattle, but those forward were sold under keen competition. Sales were as follow: — Southland Farmers’ Co-operative Association, Ltd.: One fat light-weight steer passed at £8 17/6; one prime heavy heifer at £ll 5/-; 1 fat medium steer at £lO 10/-; 1 young steer at £4 10/-; empty cow at £4 10/-; 2 heifer calves at 25/-; 1 cow and calf at £3 15/-; empty cow at £4 5/-; 1 do. at £3 10/-; 1 springing cow at £3 17/6. Wright, Stephenson and Co., Ltd.: One empty heifer at £8 12/6; 1 do. at £9 12/6; 1 empty cow at £6; 1 empty heifer at £5; 2 steers at £9 7/6.' National Mortgage and Agency Co., Ltd.: Three store cows at £3 16/-. OTAUTAU STOCK SALE. Following are some of the individual sales made on Friday:— The New Zealand Loan and Mercantile Agency Co., Ltd., sold 22 fat lambs 32/-; 61 do. 36/11; 22 do. 34/-; 6 lambs 24/6; 1 fat ewe £1; 2 do. 19/-; 52 f.m. ewes 12/-. Cattle: 21 station calves £3 10/-; 20 yearlings £4 5/-; 1 fat cow £5; 1 do. £4; 2 steers £3 12/6; 22 do. £6 19/-; 6 do. £6; 3 do. £3 2/6. National Mortgage and Agency Co., sold 34 fat lambs 28/-; 72 do. 28/9; 167 do. 32/6; 57 ewe lambs 27/-; 43 wether lambs 23/3; 59 fat ewes 11/-, 56 2-tooth ewes 38/-; 102 do. 34/10; 30 2-tooth wethers 29/9; 10 do. 29/9; 147 2 and 4-tooth wethers 29/6; 10 do. 29/9; 147 2 and 4-th wethers 29/6; 1 ram 38/-. Cattle.—One fat cow £9 12/6; 1 fat steer £10; 1 dairy cow £10; 1 cow £2. Pigs: One at 15/6; 2 at 17/6; 1 at 16/6; and 1 at 15/-. J. R. Mills and Son sold 35 wethers 34/-; 9 store lambs 23/6; 9 fat lambs (small) 25/-; 57 forward lambs 27/6. Cattle: One dairy cow £8 10/-; 1 do. £9 7/6; 10 speyed heifers £5 10/-; 2 do. £6 10/-; 1 fat heifer £6 2/6; 2 do. £5 10/-; 2 do. £7 10/-; 1 do. £9 7/6; 10 speyed heifers £5 10/-; 2 do £6 10/-; 1 fat heifer £6 2/6; 2 do. £5 10/-; 3 do. £7 10/-; 1 do. £7. Pigs: One at 12/-; and 7 at 8/-.

Southland Farmers’ Co-operative Association sold 50 2-tooth ewes 35/-; 123 do. 31/6. Cattle: Two store cows £2 1/-. Hens: Five White Leghorns 4/6. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, May 29. Sales on ’Change: Inscribed Stock (1933) 54 per cent. £lOO 15/-; New Zealand Breweries’ Debentures 23/-; Australian Bank of Commerce 35/6; National Bank of New Zealand £7 5/-; Bank of New Zealand 60/4; Farmers’ Co-operative Auctioneering (B pref.), 15/-; Huddart, Parker 46/9; New Zealand Farmers’ Fertilizer 87/6; Taranaki Oil 8/-; Wilson’s Cement 39/-. Wellington, May 29. Sales reported: National Bank of New Zealand £7 5/6; Bank of New South Wales £4B 5/-; Gear Meat 38/9; Westport Coal 35/3; British Tobacco 42/6; Colonial Sugar £6O 7/6. Christchurch, May 29. Sales on ’Change: Commercial Bank of Australia 29/5; (4 parcels); National Bank of .Australasia (£lO paid cum. div.) £lB 9/-; Bank of New Zealand 60/4 (2 parcels); Union Bank of Australia £l4 18/-; Commercial Bank of Australia (new fully paid) 28/9; National Insurance 15/6 (2 parcels) ; Goldsbrough Mort 51/8 (2 parcels); Tooth’s Brewerj' 43/10; Electrolytic Zinc (pref.) 32/8; Mahakipawa 1/7 (2 parcels). Sales reported: New Zealand Government 41 per cent. Inscribed (1938) £9B (2 parcels) ; Commercial Bank of Australia 29/6; National Bank of Australasia (£lO paid cum. div.) £lB 10/6; National Insurance 15/6 (2 parcels); Mahakipawa 1/6. Dunedin, May 29. Sales reported: Bank of New Zealand 60/3; 44 per cent. Bonds (1938), £9B (2); E.S. and A. Bank £8 9/6. CANTERBURY MARKETS. A QUIET PERIOD. Christchurch, May 29. There has been practically no change in the markets since the week-end and very little business has been done. Potatoes continue to be the line which is attracting most attention, but as so many have recently been sent to Auckland, the demand has naturally fallen off (although the Waipiata got away with some 6000 sacks aboard), the position being that the northern port must dispose of what it has on hand before it can take a further big lot. Farmers are not displaying any great eagerness to sell at the moment, and it is reported that there is a shortage in the Timaru district through over-sellingj which will no doubt result in buyers having’ to come to Christchurch to get out of their difficulties, while Dunedin merchants will probably be glad to do likewise. Potatoes are quoted at £5 f.0.b., June delivery, and at £4 15/- for May. The onion trade is now nearly over and the quality of the offer is poor. It is probable that Victorian onions will begin to slow up before long. For that reason, last week from 200 to 250 tons of onions were sent to South America in crates and centals from Lyttelton and probably another lot will be sent away next month. With regard to wheat, the position is unaltered although there is rather more offering at present, especially of the poorer quality which is selling at less than is being paid for better quality. No change has taken place in other lines since the week-end. METAL MARKET. (Rec. 8.45 p.m.) London, May 28. Copper: Spot £64 11/8; forward £64 l/10|. Electrolytic: Spot £6B 10/-; forward £69. Wire Bars: £69. Lead: Spot £2O 17/6; forward £2l 5/-. Spelter: Spot £25 17/6; forward £25 12/6. Tin: Spot £229 16/3; forward £229 7/6. Silver: Standard 28 9-16 d; fine 32 13-16 d per ounce.—Australian Press Association.

Store Cattle .. . May 29. May 14. .. .. 290 130 Fat Cattle .. .. .... 304 242 Store Sheep .. .. 1068 870 Fat Sheep .. .. .. .. 1549 1705 Fat Lambs .. .. 721 445