FINANCE AND COMMERCE

Taranaki Daily News, 21 February 1931, Page 12

FINANCE AND COMMERCE

TARANAKI STOCK MARKET STORE SHEEP SELLING FREELY. SALES SHOW MORE ANIMATION. Messrs. Newton King, Ltd., report for the week ending to-day:— Good, entries of sheep continue to constitute the bulk of the yardings at our fortnightly sales, and. for the most part business of any consequence is confined to this section. More confidence has been displayed during the week, and prices throughout have advanced. No alteration in the prices ruling in the beef section can be. reported. Preference for good young cows and heifers continues to be the order, and prices for local consumption are as follows: Best cows and heifers to £6 ss, lighter £4 10s to £5 ss, ox beef £7 10s to £9.

Freezing rates in the mutton section remain unchanged, and the majority of graziers continue to dispose of what surplus they can to butchers, best fat ewes making up to 7s, others 5s to 6s, wethers Ils 6d to 13s.

Buyers in the store sheep section are plentiful, and there is evidence of good numbers yet being required. The eales conducted, during the week have shown more animation, good 4 and. 5-year-old breeding ewes having advanced in favour, and ready markets continue to await the good entries of lambs that come forward, while wethers too have shown an advance on late prices. Tokirima sale, condv.cted. last Saturday, drew a good, entry of all classes, and some 3000 odd sheep changed hands under the hammer, the range of values being as follows/ Best 2-tooth ewes 14s Bd, small Ils, 4-year ewes 8s to 9s 3d, older sorts to °s 3d, aged 2s 6d to 4s, good, mixed sex lambs to 7s, good wether lambs 6s 6d, culls 2s 6d to 3s 9d. GOOD SALE AT HAWERA. At Hawera sale on Thursday quite a good entry came forward, and practically a full clearance under the hammer is reported at the following range of values: 4 and 5-year ewes up to 9s, aged sorts 4s to ss, forward down-cross lambs 8s 6d, others 6s, best Romney ■wether lambs 7s, others ss, good Romney ewe lambs 8s 4d, others 6s. The offering at Waiwakaiho sale, held on the same day, consisted of quite a good entry of all classes, and keen competition was in evidence throughout, and it was apparent that the supplies were insufficient for the demand, which resulted in advanced rates being the order. Best store lambs made from 6s to 6s 4d, smaller sorts to 5s Bd, culls 4s sd, ewe lambs 7s 6d, best 2-tooth wethers 10s Bd, smaller 8s 4d, aged ewes 4s lOd. The offering at this fixture was supplemented by an entry of purebred Southdown ewes and rams from Mr. W. C. Weston, New Plymouth. Keen interest was displayed and a full clearance of the entry was effected .under the hammer, best 2-tooth ewes realising up to 255, others 21s 6d to 235, small 16s 9d, mixed-age ewes 14s, best oneshear rams 3gns to Signs, others 2gns to 2fgns, 4-tooths 2£gns, full-mouth 1J gns. • QUIETNESS IN STORE CATTLE. ■ Interest in the store cattle market continues to be hard to arouse, and practically all transactions are confined to yard sales. No great alarm, how-' ever, need be occasioned by the continued quietness in this section, as this period of the year generally witnesses a slackening of . the demand'in this sec- I tion, and until sheep operations have subsided little business of consequence is anticipated. There is, however, a fair inquiry for grown bullocks, but few are offering under the hammer, and requirements are being fulfilled through the medium of private treaty, sales being reported at from £5 15s to £6 10s, according to the quality and condition of the cattle. Sales of 2J-year-old cattle are also reported, and from £5 to £5 7s 6d is the order for this class. Works buyers are: absorbing the small entries of cull and second quality cows that are coming forward, prices for meaty sorts ranging , from £2 to £2 10s, while boners realise from £1 to £1 10s.

Jersey weaner heifers have not improved in favour since our last report and the small numbers that have ’ been yarded during the week have not met with a ready sale, Jersey-cross cattle, in good condition, making from £1 5s to £1 10s. Private sales, however, of the best quality cattle have been reported at from £2 5s to £2 10s, and these figures seem to be the standard which vendors of good cattle may expect for their supplies for immediate sale.

At our New Plymouth haymarket sale yesterday some 180 odd pigs of all ’classes were submitted to a good bench of buyers, but the supply seemed to exceed the demand and prices suffered accordingly, this fact being more , noticeable in respect to large stores and unfinished porkers. However, vendors came prepared to meet the market and practically a full clearance was effected under the hammer at the following range of- prices: Well-finished porkers 32<5 6d, lighter sorts 26s to 27s 6d, unfinished porkers 22s 6d, large stores 19s 6d to 20s 6d, slips 15s to 16s 6d, best weaners 12s to 14s, others 7s 6d to 10s. SHAREMARKET TRANSACTIONS. Wellington, February 2.0. —Reported sale: 44 per cent. Government Stock, £93 10s. Dunedin, February 20.—Reported sale: New Zealand Breweries, £1 13s ad.

BRIGHTENING FOR STORE SHEEP. CLEARANCES AT LATE RATES. The Fanners’ Co-op. Organisation Society reports a decided brightening tendency this week in all sections of tl > store sheep market in South Taranaki: The big ewe fairs in other districts have reported spirited sales and total clearances at prices on' a par with sales .in this district, and buyers of ewes who. have been holding off have seen values harden for all classes of breeding ewes. Good lambs are in demand for fattening and inquiries are coming to hand for wethers of all classes, two tooths being hard to procure at a price that appeals to fat tenets. The prices offering for fat stock are still •the same with a tendency for. prices to ease if anything, average lines of ewes working out at about 4s and wethers 10s. • Fat cattle are becoming more difficult to sell, the average prices offering for fat cows and heifers being £4 10s to £5 15- and for bullocks £6 10s to £B. Pigs are in demand and selling at slightly enhanced values. ’ ’ At the Waverley sale a full yarding of 2000 sheep came forward and was offered to a large attendance. A total clearance was effected at prices showing a hardening tendency as follows:—Twot< ewes on account Johnston Bros., 250 at 16s Id; on account Sheild Bros., .140 2-tooth ewes at 15s Id, 208 2-tooth ewes at 14s 6d; 61 2-tooth ewes on account C. H. Southcombe,' Jss 3d; 103 account J. McDonald, 14s 6d; 2 and 4tooth ewes account other vendors, 9s to 13s; 416 4 and 5-tooth ewes account Elmslie Bros., 8s Id; 4 and 5-year ewes account other vendors, 5s 6d to 8s 6d; lambs, S.D., 6s 6d to 8s 6d; pigs and sundries at late rates.

At the Inglewood sheep fair there were full yardings of 3000 ewes and lambs and a few wethers resulting in spirited sales with every pen being sold under the hammer. Some realisations were: On account.G. Ferguson, 150 2-tooth ewes at 16s 6d; 160 4-tooth ewes, 14s;' 4 and 5-year ewes, account M. Barnitt, 100 at 9s; account A. Nielson, 100 . at 8s; account other vendors, 4 and 5 year ewes, 8s to 9s 6d; aged ewes in fair condition, 4s to ,6s; wethers, account Nielson Bros., 70 2-tooth wethers, 10s lOd; account G. Ferguson, line at 10s 6d; lambs, account Nielson Bros., 80 wethers, 7s lOd; account M. Barnitt, 160 wether lambs, 7s Id; account H. Jones, 280 m.s. lambs, 5.-; ewe lambs from 6s 9d to 8s; cull lambs in small lots, 4s 6d to 6s; fat lambs, 12s to 13s 6d; S.D. rams, shearlings, 2 to" 4 guineas; aged, 1 to 2 guineas.

A full yarding of sheep and cattle at Stratford met with a better demand and a good clearance was effected, prices being on a par with other centres. Good lambs were in demand making from 5s 6d to Bs.

GRAIN AND PULSE MARKETS.

OVERSEAS QUOTATIONS. By Telegraph—Press Assn.—-Copyright.

Rec. 7.20 p.m. London, Feb. 19. For wheat cargoes inquiry is quiet. Argentinas are occasionally offered at less money and others are unchanged, though the closing tone was easier. Parcels are in poor demand and mostly 3d easier owing to heavy Argentine shipments and lower North American advices. Quotations for futures are: London, February-April 20s 4d, Liverpool, March-May 4s 5 l / z d, July 4s 6d. Spot trade is fairly active and prices firm: Australian, ex ship, 23s 6d, 245. Flour is steady: Australian, ex store, 18s 6d., 19s 6d. Oats, peas and beans are firm. SHAREMARKET TRANSACTIONS. Auckland, February 28.—Sharemarket sales: Inscribed Stock, 1938, 44 per cent., £93 10s; Commercial Bank of Australia, 13s 3d, (two parcels); Bank of. New Zealand, 46s 9d, 475, 46s 10’/ 2 d; Union Bank, £6 10s 6d; Standard Insurance, 41s; Now Zealand Breweries,. 33s 9d; British Tobacco, 27 s 3d.

PRODUCE MARKETS QUIET. ONLY ACTIVITY IN FOWL "WHEAT. By Telegraph.—Press Association. Christchurch, Last Night. IJhe wheat market continues comparatively quiet with the principal movement at present in the section for fowl wheat. Any business that is done in milling is on the basis of ss-3d to 5s 4d on trucks for Tuscan. Some millers are not paying any more for Hunters. The general opinion among merchants is that the wheat yield as estimated' may be exceeded as many of the/.crops have threshed much better than was thought earlier in the season when that estimate was made. Certainly many of the Mid-Canterbury crops have proved thin and pinched as a result ot the unfavourable period during the latter part of the season but in Nor|li Canterbury the yields have been in nearly all cases above expectations. The quotation for prompt fowl wheat is ss, f.0.b., sacks extra, and 5s Id, f.0.b.-, sacks extra, for spread delivery. There are a few orders passing and a fair amount of prompt business. . ' There has been, no movement hi the oats market since last report.' Algerians are quoted at Is lOd to 2s a bushel on trucks to farmers; A Gartons are worth 2s 3d a bushel on trucks and B’s 2s. The chaff market is unchanged at £4 7s 6d a ton, f.0.b., sacks in. There is inactivity in the potato market and no alteration in values to record; Little business is passing at the quotation of £4 7s 6d a ton f.0.b., sacks iii. This price is equivalent to about £3 5s to £3.7s 6d on trucks. The quotation for July-August-September delivery is £5 f.0.b., sacks in> A feature of the small seed market is the lack of interest oi North Island merchants and that is responsible to a large extent for the dull market here at present. There have been no alterations >in values. EXPECTATIONS REALISED. Master ton, Last Night. Prices in advance of vendors’ expectations were realised at the annual ram fair to-day, when stud and flock Lincolns and Southdowns were offered to a large and representative attendance of buyers. Bidding was well distributed. Flock Lincolns ranged from 1 guinea to / J guineas and Southdowns from 1% guineas to 17 guineas. The top price for a stud Lincoln was 32gns for an animal sold on behalf of A. D. McMaster (Martinbordugh) to L. R. Wilton (Rangitumau), while stud Southdowns sold up to 6'ogns, that price being paid by W. W. Buick (Masterton) for an animal offered for Ellis Bros. (Bulls). Another ram sold on account of the same vendor realised 50gns.