STOCK MARKET REVIEW

Southland Times, Issue 24165, 29 June 1940, Page 12

STOCK MARKET REVIEW

SMALLER SUPPLIES OF FATS FIRMER PRICES FOR SOUTH ISLAND The stock markets in Southland have now reached the quiet winter period during which it can be expected that yardings will be small and sales confined almost entirely to fat stock with entries even in those sections much smaller than at the summer and autumn sales. At Lorneville on Tuesday the fat sheep yarding was one of the ’smallest for many months and no store sheep at all were entered. The fat cattle section was also small and the supply of store cattle was moderate. The markets reacted sharply to the short supplies and the fat sheep showed one of the biggest increases for the season. Fat cattle were also firmer and it is possible that this sale saw the turn in values for the higher rates which normally rule in mid-winter and early spring.

’ The chief Otago and Canterbury markets also showed a substantial improvement in prices for fat stock, small entries in those centres being similarly responsible for a firmer inquiry for stock. The heavy killing of fat cattle at the freezing works in Southland will probably result in a greater shortage of prime beef for the South Island markets as the winter advances. These killings for freezing have trebled this season as the result of an appeal by the Primary Production Committee to kill cattle now so as to conserve winter feed. A total of more than 5000 head has passed into the Makarewa works compared with 1800 last year. If the frozen beef is released for local consumption the difficulty of supplying the local market will be lessened, but it is thought possible that because of Britain s urgent need for meat local stocks may be shipped away.

Bullocks were in specially short supply at Lorneville on Tuesday The yarding was made up largely of cows and heifers, the majority of which were light and unfinished. The sale was firmest in the early stages, values showing an improvement of at least 10/- a head and rather more for bullocks, but there was an easing tendency before the end. Following is a .range of prices: —

Good quality bullocks from £l3 to £l3/5/-; medium weights £l2 to £l2/10/—; light weights £ll to £ll/ 15/-; small £8 to £9. Extra prime quality heifers to £l2; prime quality medium weights £lO/5/- to £11; lightweights £9/5/- to £9/15/-; small £7 to £8; prime quality cows £ll to £ll/ 10/-; good quality £lO to £lO/15-; medium quality £9 to £9/10/-; unfinished £7/10/- to £8; aged and inferior £5/5/- to £6.

Ouly 365 fat sheep were penned, Ulis being little more than a third of the offering at the previous sale, while the average for recent months has been considerably above 1000 head a week. There was a fairly equal distribution of ewes and wethers and a fair percentage of the offering was of good quality. Competition was very keen throughout the sale and after being governed by the export schedule for several months the market showed a much firmer tone and over the whole sale prices improved by about 4/- a head compared with the previous week. The sale was notable for the absence of fat lambs for the first time in seven months and it will be several months before the next season’s lamb make their first appearance. Following is a range of the prices on Tuesday;—Prime heavy wethers to 38/-; good quality wethers from 34/to 36/-; medium 30/- to 32/-; light and unfinished 26/- to 27/-. Prime heavy ewes brought to 31/9; prime quality ewes 27/- to 29/-; medium 23/6 to 25/-; lightweights 19/- to 21/ u . There was a small entry in the store cattle section, the bulk of the yarding consisting of empty cows. A good line of these made £4/3/- and an odd good conditioned beast brought up to £5/10/-. Medium sorts made from £3/10/- to £4/5/-. Cull sorts were down to £l/10/-. In the dairy section, factory calvers made from £4 to £5/5/-, cull sorts bringing down to £2. Cows at profit realized from £7 to £9.