STOCK MARKET REVIEW

Southland Times, Issue 23652, 29 October 1938, Page 19

STOCK MARKET REVIEW

BEEF PRICES RISE AGAIN VALUES AT HIGHEST LEVEL FOR SEASON An indication that there is no improvement in the shortage of fat cattle in Southland was given at the Lorneville stock sale this week when prices rose again to the highest level previously experienced a fortnight ago. A big entry last week had the effect of reducing prices slightly,.but there was a very keen demand on Tuesday for a moderate yarding and prices were again at an average of about £2 15/- per 1001 b. vdth extra choice beef up to about £3 per 1001 b. These rates are almost a reccrd for Southland and compared well with this week’s rates at Burnside where comparable values ruled. At Addington prices were on a much lower level and it is apparent that no shortage of fat cattle exists in Canterbury. While Southland and portions of Otago have experienced a very dry season, Canterbury and the rest of New Zealand have had an abundance of ram and feed is stated to be plentiful. The range of values for fat cattle at Lorneville on Tuesday was as follows. Prime heavyweight bullocks up to £l9 17/6, prime quality £l6 10/- to £lB, medium £l4 10/- to £l5 10/-, light and unfinished £l2 to £l3; prime heavy cows up to £l5, good quality £l3 5/- to £l4, medium £ll to £l2, unfinished £9 to £9 15/-, aged and inferior £6 10/- to £7 10/-; prime quality mediumweight heifers £l3 10/- to £l4 10/- handyweights £l2 to £l2 15/-, light £lO 10/to £ll 10/-, small and unfinished £7 10/- to £8 10/-. _ , A fair percentage of the fat sheep handled at Lorneville this week was shorn indicating that the shearing season is already well advanced for dry, sheep. The margin of prices between woolly and shorn sheep has been fairly consistently maintained at about 7/6 a head. The market this week was erratic. It opened at a marked reduction on the previous week’s prices, but firmed towards the close. Good quality sheep sold well and showed little reduction in value, but medium quality and poor sorts were at least 2/- a head cheaper. Prices ranged as follows:— Extra prime heavy woolly wethers realized up to 45/6, prime heavy 34/to 38/-, good quality 30/- to 32/-, medium 27/- to 28/6, light and unfinished 24/- to 25/-; prime shorn wethers 23/- to 25/6, medium 21/6 to 22/-, light and unfinished down to 17/-; extra prime heavy woolly maiden ewes up to 35/-, prime heavy ewes 28/- to 30/-, good quality 25/6 to 27/-, medium 21/6 to 23/—, light and unfinished 15/- to 17/6; prime shorn maiden ewes up to 25/-, prime quality 20/- to 23/-; lambs from 25/- to 35/-. The store stock sections did not attract much interest, but prices were satisfactory on. about the same level as' previous sales. In the store cattle section there were no forward bullocks. Two-year-old steers brought from £5 to £6 5/-. A pen of two-year-old heifers realized £4 7/6. Yearling heifers brought up to £2 15/-, with smaller sorts down to 30/-. The few empty cows offered sold at about late rates. There was a small entry in the dairy section, mostly of nondescript sorts, but an odd good cow close to profit sold well at up to £7 10/-, while others brought from £4 to £5, with cull sorts selling at about £3.