STOCK MARKET REVIEW

Southland Times, Issue 23408, 15 January 1938, Page 14

STOCK MARKET REVIEW

Store Sheep Sales

Forecast

GOOD PROSPECTS FOR THIS SEASON

The Southland stock market opened well at the first sales of the year this week, prices for fat stock being firm with increases in some classes over the closing rates in December and values steady in all other sections. The store stock market is still very quiet, movements in sheep not haying yet commenced for the season. Within the next few weeks offerings of store sheep should become much more num- ■ erous and a definite indication should be given of the range of prices for the big markets during February and March. , , , The general opinion of dealers is that values will be lower during the coming season than they were a year ago, the drop in the price of wool and, the slightly lower returns from fat lambs being deciding factors. At the same time, it is likely that there will be a good demand for store sheep for wintering on dairy farms and the fall in prices may not be as great as was expected as recently as a month ago. The good falls of rain during the past few weeks have transformed the pastures, which were formerly very bare, and root crops have shot away. Apart from a deficiency of hay for the winter there should be no lack of winter feed, unless root crops react seriously to the damp conditions and develop club-root to a greater extent than anticipated. It is probable that full and failingmouth ewes which make up the bulk of the offerings at the big .markets will not show as great a drop in value as two-tooth ewes which were at their highest level for many years last autumn. Sales of two-tooth ewes up to about 50/- a head were reported last year, but it is unlikely that these values will be realized this year, but with a strong demand for intermediate classes of sheep the range in values may be smaller than for several years.

SHORTAGE OF LAMB FEED The first line of store lambs seen in the Lorneville yards this season, apart from lines of ewes and lambs, was offered this week and realized 14/6. They were mixed-sex lambs off feed and in fairly forward condition, the price being considered reasonable. In view of the backward nature of lamb feed throughout the province it is unlikely that there will be much demand for store lambs for several weeks and some farmers whose feed has given indications of failing would be glad to dispose of some of their lambs at the present time. The feed position should improve within a few weeks when more interest will be taken in store lambs.

The fat cattle market is particularly firm at the present time, values being only slightly below the high level reached several months ago. There has been very little heavyweight beef offered at Lorneville recently, most bullocks being described as handyweights. Heifers and cows also have been below heavyweight standard. On Tuesday, prime bullocks sold up to £l2 7/6, medium quality £lO to £ll, lightweights down to £9. Good quality heifers ranged up to £9, medium weights £7 to £8 and lightweights down to £5 10/-. Prime cows sold up to £8 15/-, medium from £5 10/- to £6 10/-, small down to £4 5/-.

The sheep market is also firm with ewes dearer than at the last sale, but heavyweight wethers slightly easier. Prime wethers realized up to 31/-, a medium range being 26/- to 28/-, and light and unfinished down to 22/-. Heavy ewes sold up to 25/6, medium sorts from 19/- to 22/- and lighter weights down to 17/-.