TARANAKI STOCK MARKET

Taranaki Daily News, 5 October 1929, Page 14

TARANAKI STOCK MARKET

:, BEEF PRICES REMAIN HIGH / SUPPLIES OF CATTLE SCARCE. ■QUOTATIONS IN PAST WEEK. ' A<review of the Taranaki stock mar- > feet, during the past'- week is given aa follows by Newton King, Ltd. :r—--i •:-Beef .—Privies ■ remain. firm under this, heading. In fact, during -the .last , fortnight, those ruling for cows have had a. '/-.'tendency to .harden, especially for .'flrst -V quality cattle, - this 'being ~ undoubtedly f fltlp. tb ; the fact that supplies of - this. - class are' more limited than those, offer-; ■: in » /for '' px! heef. ! In h number of -cases /' ii&dultyvis ■being in /fulfill-. ■ irig requirements i for docal- G&risumption,, ■ necessitating ■ supplies being /Sobtadned ■ from outsider sources; ? Generally speak sing the prices’vulihgiper .hundred.’.ranges from •£2 r ;to' £2 ss, according to the. quality, ofi.?the cattle. Quotations at pre- . gent -offering range as fblldws:Heavy. • prime fat mullocks £l6 to £l7; fat bullocks £l4 - to -£l5; light-’ and unfinished’£l3; extra -heavy .prime ;fat Polled .Angus cows £l4 to £l5; heavy fat cbws ’£l3; Tighter -sorts £lO ’los to li£ll 'lOs;”'killable sorts'-... £8 10s ,tb.- £9 ■’ //Fat" for fa.t ewes ’ arej riot'fio ; plentiful as those offering fdr. wethers;- and as stated in our last j jfeporl/ requirements for local consumption .are; in the majority of cases, be.ciria fulfilled from the Tatter class. Quotations are: Good .heavy fat ewes- 31s;. fat ewes; ,29s' .to-30s; those ruling, for ; wethers range from 37a 6d to 395. Of course';''.with • .the’’ lambing' season now, 'prafeticariy completed aiid shearing opef-. -ations commenced/ it .is expected that quotations for fat Lewes will be more plentiful from now on. •7’ Store -Sheep’.—Ewes with -lambs at -foot'are ribw being quoted in fair numbers?‘ln the cases the inquiry ■ for this class is for ewes with . -white-faced lambs at foot, and as there are very few straight white-faced-lines 'offering,, few are changing hands. There is also a .fair 'inquiry- for good whitefaced hoggets, and where suitable lines are offering ready sales are being effected. Sales liave been effected during the. .week at the following .prices. Good 4 and 5-year-old ewes with white-faced lambs aV foot £2; others 36s to 38s; top quality white-faced ewe hoggets 365; others 335; best wether hoggets 28s; others 24s 6d to 26s 6d. Quotations for forward delivery sales are now coining to hand, and in the majority of cases the prices expected by vendors for 4 and 5-year-oJd ewes are 24s to 255. Few. younger -sheep are being quoted. Quotations for wethers off the ’shears.range.from 23s to 265, according to the age and condition of the sheep, but as-yet few .sales on this basis have ‘been effected, undoubtedly , due to the uncertainty of the future prospects of the market. However, as the season advances and the prices offering, by freez,ino- works are announced, prospective purchasers 'will have a guide, to a certain extent, as to the future of the market, and it is to be expected that sales ■will then increase. 5 ’'Store Cattle.—As in other centres,, there are insufficient quotations offering /finder this heddiriy to-fulfill the strong, demand that exists, resulting in prices /remaining firm throughout. Contrary to prospective purchasers of sheep, buyers of all'classes. in this section are very optimistic concerning the future prospects of the market, and in view of the shortage that is in evidence throughout their optimism is warranted, as it is almost safe to conclude that prices, generally speaking, will remain steady for some time. The yardings throughout Taranaki are on a small scale, and from the above information it can be gathered that the prices are good aiid that full clearances are effected at our various fortnightly sales at prices pleasing to vendors. Of the cattle that are fcrihg /the following is the range of prices that are at present ruling: Good coloured young store cows £6 to £7; mixed coloured sorts £4 10s to £5 ss; works cows £2 10s to £4 ss; good quality young sound empty cows (for which there is a good inquiry) £7; others £4 16s to £6; 2-year-old Jersey empty heifers £6 15s to £7 ss; 2-ycar Jersey cross empty heifers £6 to £6 10s; well-grown choice fawn yearling Jersey heifers in cood condition £8 to £8 ’ 10s; good sorts £7 to £7 10s; Jersey cross £5 15s to £6 10s; small and mixed coloured sorts £4 to £4 15s. The smaller and more hard-done lines are making from £3 5s to £4. As stated in our last report, few male cattle are offering, but during the week sales of three and 4-year-old- mixed coloured bullocks in poor condition have been made at from £9 to £9 ss. Dairy Cattle. —Although the season is now well advanced, there is still a stronw inquiry for cattle of good quality. arid in view of the activity of the market during the earlier part of the season there are a few small numbeisof good cattle being submitted at our fortnightly fixtures, and these are keenly competed for and change hands at prices pleasing to vendors. The yardings throughout are good in numbers but, irenerally speaking, the cattle offei-iii<-/are lacking in size and quality. However, with the strong demand that is in evidence full clearances are effected at prices perhaps a little in advance of those that were anticipated a little earlier in the year. Prices at present ruling range as follows: Best quality young Jersey cows close to profit £l6 to £l7; good sorts £l3 to £l4; fair quality cattle and perhaps a little more backward £9 to £lO 10s; aged and mixed coloured sort/# £7 10s to £8 10s; top quality fawn .lo>*-y heifers.at profit £l6. L<> "’7: <■?—<! q ::i ,: tv sorts £l3 to

£l4 I0s;' smaller sorts, of good quality £lO 10s to £ll’10s’; cattle of fair quality but more backward £9 to £lO 10s; small, backward and mixed coloured sorts, ' £7 to £B. . Pigs—Both store and- weaner pigs are being offered' in good numbers Ht our various centres. Prices remain firm and full clearances are effected at the following range of,prices:..Large stores-in good condition 30s to 335;. smaller softs m Tighter condition 26s to 283;- best slips 24s to 25d 6d; choice weaners 18s to 21s; others 12s to 15s. ; . Bulls.—Ouf first series of'.fairs was held during tlie week, and although good .benches of buyers were in. attendance at -each, fixture the prices at the opening sale were perhaps not a<s good as anticipated. However, at the subsequent fairs nidre spirited competition was in .evidence and .satisfactory' prices- were obtained, . Operations commenced with the annual sale on -behalf of the memberg of the New, Plymouth jersey Cattle Club, where an entry of 88 bulls was .submitted, of which 54 of the offering changed, hands, the tojj price 6f the day :being'9oigtiiheas, -wliicli wari -paid for a 3-year-61d bull, . while ,prices for olds'ranged; from ’25 guineas to 45 . guineas, best yieaiTings .making -from’ 60 to ’.82 .guineas’. Other, yearlings realised from 20 guineas to 35 guineas, .while ; small and lighter, conditioned sorts made from 10 guineas to 2.5 guineas. There are ypt a number of bull fairs to be held, .including the Kaponga sale on ’Monday next, where 70 pedigree Jersey bulls will be offered,-while at Waiwakaiho oh Tuesday? a record entry of 160 bulls will be submitted. ■ DAIRY PRODUCE MARKET. Mr. E. Griffiths is in receipt of the following-cable from his London principals, Messrs. A. J. Mills and Co., Ltd.':— Butter—Market steady. New Zealand finest, 182 s to 184 s; first, 178 s. to 180 s; unsalted’ 184 s; Danish, 1923 to 1945; Australian^l76s .to 178 s; Irish, 178 s to 180s.’ " ‘•■' ■, '/ ' ?■ Cheese.—Market steady. New Zealand white, 955; coloured, 94s to 955;-Cana-dian white, 95s to 965; coloured, 94s to 955. The New Zealand Loan and Mercantile Agency, Co., Ltd., have received the following advice • from their London house, dated 2nd instant:— Butter—New Zealand choicest salted, 182 s to 184 s per cwt. (182 s to -1843. last week). Cheese. —White, 95s to 96s .per cwt. (93s to . 94s last week); coloured, L .94e to 95s per cwt. (94s last?week).' Market quiet. Tallow.—We quote present c.i.f.e. val.ues for the following descriptions of tallow: Fine, mutton, 41s per cwt.; good beef; 42s per cwt.; mixed, 39s per cwt. Market dull. BUSINESS ON SHAREMARKETS. Wellington, October , 4.- —Reported sales: Commercial Bank of Australia (ordinary), 28s Bd, 28s 9d; Goldsbrough, Mort and Co., 44s 3d; Bank of New South Wales, £49; Electrolytic Zinc (ordinary), 35s 6d. Sales on Exchange: Goldsbrough, Mort and Co., 44s 3d. Christchurch, October 4. —Sales on Exchange: New Zealand Government 5J per cent, inscribed, stock, 1933, £lOl 5s (two lots); Dalgety and Co., £l4; Goldsbrough, Mort and. Co., 44s 2d (three lots); New Zealand'Guarantee Corporation (cum. div.), 9s 7d; New Zealand Refrigerating Co. (10s paid), 6s 2d; New Zealand Breweries, 88s (three lots); Beath and Co. (Is .paid), 9s 6d (odd lot).' Reported sales: Mt. Lyell, 43s 2d; Commercial Bank of Australia, 28s lOd (two lots); Government; 4| per cent, bonds, 1930, £99 10s; Government 4J per cent, inscribed stock, 1930, £99 10s. ■ EXPORTATION BY WHEAT POOL. CHRISTCHURCH PRICES RISING. Christchurch, Oct. 4. Tlie export of wheat by four more steamers, from Lyttelton has been ar-’ ranged by the wheat pool. The Port Melbourne, which will leave Lyttelton next week, is reported to be taking in 4000 tons of grain. There will follow shipments by the Raranga on October 10, and by the Remuera and Tamaroa on or ab'out October 20. Local prices for wheat are steadily rising, according to reports from the pool. WOOL OFFERINGS CURTAILED. Sydney, Oct. 3. Owinw to the depression in wool prices the Sy3ncy Woolbrokers’ and Growers’ Council decided to-day to curtail offerings in this centre by 25 per cent, from next Wednesday until October ,31. NEWSPAPER DIVIDEND. Auckland, Oct. 4. The directors of New Zealand Newspapers, Ltd., declare an interim dividend for the half-year ending September 30 of 3i per cent. THE FARMING OUTLOOK. REVIEW BY W.C.F.U. CHAIRMAN. Masterton, October 3. “The year just closed has been one of continually expanding said Mr. C. M. Bowden, chairman of directors, when addressing the shareholders of the Wairarapa Farmers’ Co-operative Association, Ltd., at' their annual meeting tliis afternoon. .The board felt. gratified with the results obtained. Intense competition had prevailed in the towns in which the company operated. but the association had made head-

I way at all points. Abnormal weather conditions had interfered with the earning power of the stock department, both in live stock and wool. Then, too, there had been doubt in the minds of many as to' the future policy of the association. “We feel that this difficulty has been overcome,” Mr. Bowden said, “and confidently look forward to better trading results in all departments during the coming year.” - Referring to the proposal that contingent liability of £15,009 (accumulative preference dividend for the year ended July 31. 1928, be settled, by. asking preference shareholders to accept payment of arrears of dividend, spread over six. years, the association to pay 3% per cent, half-yearly, commencing from January 1, 1930,Mr. Bowden-.stated-that the response . to the circular, sent out had been most gratifying. In favour of the proposal were 473 shareholders holding 172,105 shares and. against it were 20 shareholders holding ; '5768 shares. In the. light of this, the i board would .take steps forthwith to have a meeting called to give the propos-. al legal effect. ' . . '?? Thqiigh-.power would,!)? sought to pay a dividend on’ the’ ordinary shares this should not be taken; as promising a ’ dividend for next year. It was; desired to build up the reserves to some degree before resuming payment of dividends on ordinary shares. “Our success naturally depends on the degree of prosperity experienced 'by the country at large,” said Mr. Bowden.. “We are informed that the outlook for the coming year justifies confidence. In our districts the flocks are larger than last year, and given freedom from abnormal climatic conditions there should be marketed a wool clip above the average number of bales. Tlie clip will off-set any reduction in price.” In any case, he said, conditions in the Old Country and on the Continent did hot indicate anything in the nature of a slump in values. The steps taken recently towards rationalisation in industry would, have a marked effect on British trade, and’a satisfactory readjustment - of Continental relations would seem to make for a revival in,trade. “The per centage of lambing in the company’s district was satisfactory. Prices for fat lambs might open at a lower figure than Last year, when higher prices were paid than world conditions warranted. In fact, it was anticipated that prices for all live stock would rule on a lower level than obtained last year. “We do not mean that there will be any serious decline in values, but that last year’s prices were dangerously high. Stable prices on a reasonable level are better than high fluctuating values, enabling farmers to operate with greater, confidence.” Mr. Bowden said those interested in the dairy industry seemed justified in anticipating stable prices. The arrival of wartn rains would bring pastures away, and the country would then be in better heart than ever before. Farmers were reaping the benfit of their topdressing, herd-testing, and culling, and in general the outlook was decidedly cheerful. ■ ■ . Other directors present at the meeting were Messrs. V. E. Donald, Trevor Beethani, A. Bower Knight, H. G. Williams, and J. Caselberg. An apology for absence was received from Mr. W. Howard Booth. There was a fair attendance of shareholders. The report and balance-sheet wwc adopted. ... Messrs. H. G. Williams, A. Bower Knight, and W. Howard Booth, the retiring directors, were re-elected. The directors were voted an honorarium of £450, plus travelling expenses, to be divided as the board decided. Messrs. Sellar, Watkins, Hull, Hunt, and Wheeler were re-elected auditors at a fee of £2s'o, plus travelling expenses.