BURNSIDE STOCK SALE

Southland Times, Issue 23512, 19 May 1938, Page 3

BURNSIDE STOCK SALE

Fall In Demand For Fat Cattle GOOD COMPETITION FOR SHEEP (United Press Association) DUNEDIN, May 18. The market for fat cattle at the Burnside stock sale today was not so keen as it has been lately. There were 330 head forward, including several trucks of prime bullocks, but light and unfinished sorts were also present. Some excellent cattle were offered at the end of the sale and prices recovered to some extent when these were offered. Extra prime heavy bullocks made to £l7 17/6, prime £l4 to £l6, medium £lO 10/— to £l2 and light down to £9. Extra prime cows and heifers made to £ll 17/6, prime £8 to £9 10/-, medium £6 to £7 and light down to £4 10/-. Extra prime beef was worth £1 16/6, prime £1 14/-> prime cows and heifers £1 16/6 and poor quality £1 6/-. The offering of store cattle numbered 250 head, consisting mainly of cows and heifers. Three-year steers brought £8 2/6 to £lO 7/6, two-year £4 5/to £6 2/6, heifers £2 10/- to £5, young cows £4 to £4 5/- and good dairy cows close to profit £l2 10/-. One thousand fat sheep were offered, no extra heavy sorts being included. There was keen competition for the best of the offering and good quality brought increased prices throughout. Prime wethers were worth £1 11/- to £1 14/6, medium £1 6/6 to £1 9/6, light down to £1 2/-, prime heavy ewes to £1 9/3, prime £1 3/- to £1 6/-, medium 16/- to £1 and light and unfinished down to 11/6. There was keen competition for the small yarding of lambs. Prime sorts brought £1 4/- to £1 6/-, medium £1 1/- to £1 2/6 and light from 18/- upwards. . Porkers were in over-supply in the yarding of fat pigs and brought £2 5/to £3. Baconers'were worth £3 10/to £4 4/-. ADDINGTON MARKET SUPPLY OF FAT STOCK TOO GREAT (United Press Association) CHRISTCHURCH, May 18. _ Fat cattle and fat sheep were in over-supply at today’s Addington market and there was an easing for both — sheep to a slight extent and cattle by up to 15/- a head. Store Sheep.—There was a small entry of about 3500, about half being wethers. Forward wethers sold well at up to 22/6, but ewes which were old and lambs were not wanted, Fat Lambs.—There was a keen sale at up to full schedule rates of 8d per lb. Fat Sheep.—Five thousand five hundred were penned. There was an easing of about one shilling a head. Best wethers made from 30/- to 33/-, tops to 35/-, good medium 26/- to 29/-, light down to 19/-, best ewes to 24/-, tops to 28/-, and light 13/- to 15/-. Fat Cattle.—Five hundred and ninetyfive were penned and good quality was included. Values again were easier by 2/_ per 1001 b. Best beef made from 32/- to 34/-, good 29/- to 31/-, and light down to 24/-. Prime steers realized from £l2 10/- to £l4 10/-, tops to £l6 7/6, medium steers down to £lO, best cows and heifers to £ll 7/6, and good £8 and £8 10/- (respectively to £9 10/-. Secondary cows sold at from £5 to £6 5/-. Fat Pigs.—Good quality porkers sold well. Other classes were easier. Prices were from 29/6 to 59/6, the average per lb being from 6.1 d to 7d. Baconers were again forward in small numbers and there was an advance in prices of from 2/- to 3/- a head. Prices ranged from £3 1/6 to £5 7/6, the average price per lb being from 6Jd to 63d. Dairy cattle met with a keen sale, good grade heifers at drop making in odd cases £lB 10/- and £l7, and medium cows about £9. COMPANY NEWS FARMERS’ TRADING (United Press Association) AUCKLAND, May 18. The annual accounts of the Farmers’ Trading Company for the year ended March 31, show record net profits of £115,319, compared with the previous best year, £104,233. The usual dividends of 5 3-5 per cent, for preference and 7 per cent, for ordinary shares are recommended. A new item in the balance-sheet is stocks reserve at £50,000 and the reserve against sundry debtors is £106,000. NEW ZEALAND PAPER MILLS INCREASED NET PROFIT DUNEDIN? May 18. Mr F. W. Mitchell presided over the thirty-third annual meeting of shareholders in New Zealand Paper Mills Ltd. today. The net profit on the year s trading, at £12,795, was approximately £3OOO higher than that of the previous year. The chairman stated that although in ordinary circumstances the 40-hour week would have Meant a serious reduction in tonnage 'from the mills the additional plant recently installed had enabled the company almost to make up the loss of output. The Profit and Loss Appropriation Account showed that the sum of £21,042 was available after the payment in November last of an interim dividend, which absorbed £4500. The directors’ recommendation to pay a final dividend at the rate of 4 per cent. (£6000), making a distribution to shareholders of 7 per cent, for the year and to carry forward £15,042, was adopted.