FINANCE AND COMMERCE

Taranaki Daily News, 29 March 1930, Page 16

FINANCE AND COMMERCE

TARANAKI STOCK MARKET SECOND QUALITY BEEF OFFERING. PRICES REMAIN UNCHANGED. Reviewing th live stock markets in Taranaki during the week Newton King, Ltd., state: — Beef. —Good numbers of cow beef are still being submitted at the fortnightly fixtures, but the majority of the offerings consist of second quality cattle, necessitating requirements for good cattle having to be fulfilled through the medium of private treaty. Of course there are a few good quality cows and heifers included in the offerings and these are selling at figures on a par with those mentioned m our last report/ while there is still a decling tendency in evidence for second quality cattle. However, with the good supplies of this class that are offering, vendors realise that, as in past years, an easing tendency is generally in evidence about this period, and for the most part the markets are met and full clearances are effected. Quotations of ox beef have not varied sine, our last report and the prices ruling for local consumption remain a little in advance of those offering by works buyers, requirements for Best prime cattle being fulfilled at up to £l4 lbs, while lighter sorts arc being purchased at from £l2 10s to £l3. Eat Sheep. —Good supplies arc still in evidence in this section, but no change in the prices has been effected. Works buyers are operating freely on both ewes and wethers and the prices for the former cla: range from 15s to 16s, while those for the latter stand at 24s 6d to 25s (kl. Butchers’ requirements are, however, being fulfilled at prices a little in advance of these figures and no difficulty is being experienced in securing quotations.

Store Sheep.—There is a quietening tendency throughout this section, which is undoubtedly due to the fact that the majority of requirements have now been filled. Good numbers of sound-mouthed ewes in small lines are being quoted, but there seems little demand for this class at the .figures which vendors are expecting, and where any come under the Hammer reduced prices are the order. This is iu accord with previous seasons, so no alarm need be occasioned by the fact. Lambs too have shown an easing tendency during the week, and the good numbers that have been offering at the fortnightly sales have not met with the ready demand that was iu evidence two or three weeks ago. However, the decline in this class has not been of a marked degree and for the most part vendors are accepting the figures offered. Quotations of store wethers are by no means plentiful. There does not appear to be an exceptionally strong demand for this class, although no easing tendency has been shown in the prices offering. Store Cattle. —Little speculation is in evideu"'' in this section, and owing to this fact business of a very limited nature is being transacted. The fortnightly fixtures are devoid of male cattle, while fair entries of store and forward cows are coming forward. Works buyers are operating freely on both classes, and full clearances are reported throughout the district, the prices ruling being: Good framed cows in fair condition up to £5, others from £3 to £4. Graziers are operating on the younger good-coloured cattle, an 1 these are being purchased at from £4 10s to £5 10s, according to condition and frame. Quotations of male cattle are: Forward conditioned bullocks up to £lO, 2|-year-old cattle £6 15s to. £7 10s, 18-months sorts £5 to £6, weaner steers £3 to £3 15s.

Weaner Heifers. —Good entries of this class are being received for the various sales, and there seems to be a ready market at a price for all classes. The majority of the cattle offered are of the medium classes, and prices for these range from £2 15s t,i £3 10s, according to size and condition, while those lacking in breeding, and smaller sorts, seem dull of sale. Figures for these range from £1 5s to £1 15s. Good business is also being effected through the medium of private treaty for this class, and up to £5 is being paid for the best cattle offering, while good sorts are being purchased at from £4 to £4 10s.

Dairy Heifers. —There exists a fairly strong inquiry for top quality cattle in this section, and those holding this class are finding a ready market, but as yet the sales recorded have been only for one or two truck lots. With tho uncertainty of the butter market prospective purchasers are reluctant to operate, which is resulting in sales c:i a large scale not being effected to the extent- that perhaps they were at this period last year. However, requirements will have to be filled and with the increasing tendency towards dairying each year, holders of

this closs will find ready markets, provided of course the figures expected are competitive with those ruling in other centres.

Pigs. —Good yardings of weaners are in evidence, but the demand for this class shows a further easing tendency since our last report and competition is by no means keen, which is resulting in vendors having to accept lower figures than those expected. Large stores find a ready market and with the limited supplies that are offering difficulty is being experienced in filling requirements, which is resulting in the prices remaining firm. The figures ruling for the various classes are: Large stores in good condition up to 335, smaller sorts 25s to 28s, good slips 20s to 225, best weaners 16s, medium sorts 12s to 14s, others 7s to 10s.

DAIRY MARKETS STEADIER.

INCREASED CONSUMPTION LIKELY.

The butter and cheese markets are both steadier, states a London cable received by Mr. E. Griffiths. With the lower prices gradually increased consumption is expected. New Zealand finest butter is quoted at 128 s to 1295, first at 126 s to 1275, Danish at 146 s to 148 s and Australian at 124 s to 128 s. The cheese market is slow, New Zealand white being quoted at 78s to 79s and coloured at 80s. Similar quotations have been received by Mr. Turner.

SHARE MARKET TRANSACTIONS.

Wellington, March 28. —Reported sales: New Zealand Insurance, 43s 6d; New Zealand Breweries, S2s (cum. div.). Christchurch, March 28. —Sales on Exchange: Carlton Brewery, 37s sd; New Zealand Breweries (cum. div.), 81s 3d (three lots), 81s 9d (two lots); British Tobacco Co. (cum. div.), 42s 3d; Auckland Gas, 23s 9d, 23s Bd. Reported sales: New Zealand Breweries (late sale yesterday), 81s 9d; New Zealand Breweries, 81s 9*d. Dunedin,- March '2B. —Sale on Ex change: Kawarau, 6d. Reported sales. Bank of New Zealand, 56s 10d; Mt. Lvell, 345. , . ’ Auckland, March 28.—Sharemarket sales: Auckland Harbour Board, 1936, 4 per cent., £9O; Commercial Bank of Australia, 225; Bank of New South Wales, £39 (Sydney register); Bank of New Zealand,* 56s lOd; Union Bank, £l2; Pukemiro Collieries, 69s 6d; Taupiri, 265; Auckland Gas (late sale on Thursday), 23s 6d; New Zealand Breweries, B*ls 9d, 82s; Electrolytic Zinc, pref-. 27s lOd; Farmers’ Trading Co., A pref., 16s 3d; Milne and Choyne, deb. stk., 27s 41d; Moanataiari, fully paid, 2*.