FINANCE AND COMMERCE

Taranaki Daily News, 19 September 1931, Page 15

FINANCE AND COMMERCE

TARANAKI STOCK MARKETS PASTURES NEED SPRING WEATHER YEARLING HEIFERS IN DEMAND. Variation in the stock market during the week cannot be expressed, Newton King Limited reports. The weather, how-' ever, during the latter part of the past week has exhibited more definite signs of Bpring and -a continuation will benefit the pastures. Should this result, more activity in the market may be expected, as both cattle and sheep will be required to cheek the spring growth. Values in the beef section show no alteration and the better demand for ox beef, together with the recent advance in prices, is encouraging holders to quote. Good numbers have been. absorbed for North Taranaki consumption. Heavy prime cattle realised up to £9 10s, and fighter sorts £8 to £8 las. Good young cow and heifer beef is not plentiful and values are firm, the majority of requirements of any consequence being drawn from southern supplies. Prime heavy cattle realised to £8 ss, lighter B*rts £6 10s to £7 10s, and oddments . £5 10s to £7. A slight easing of values in the mutton Beetion is being displayed, but this is . due to the supplies of fat ewes that ... have recently come on the market, and a depletion of the supplies of this class • should again see a firmer market awaiting the wethers . available. Present 18s, unfinished Iss to 16s, best:ewes 15s, values are: Best wethers to 20s, lighter lighter 13s to 14s. Quietness continues in the store sheep section and it is difficult to interest buyers in the few quotations that are offex- ? ing. Quotatons of ewes for sale on a forward-delivery basis may soon be ex- . < peeted but in view of the uncertainty of wool prices, and export values for i mutton, it is difficult to predict what standard of values will be set and it will K.. occasion no surprise if little business is ! -y contracted on a forward-delivery basis. ><■ Present values for genuine 4 and 5<year ewes with lambs at foot are 12s to !in:l4s'6d. Few younger sheep are quoted, sril.Forward wethers are 12s Gd to 14s, • wether hoggets 8s 6d to 10s 6d, ewe hoggets (best) to 13s and others 9s to ■■'lls. Business in the store cattle section is considerably below that general at J:this period of the year and until warmer ... conditions prevail and feed is more ■'plentiful, enthusiam cannot be expected. 1' Gows suitable for early fattening continue to meet spirited competition and ' : values range from £2 10s to £3 10s, ...I while lighter-conditionbd sorts sell at i i‘from. £1 10s to £1 15s. At the Awakino sale on Saturday a . good entry of grown bullocks was sub- . ‘ mitted and a satisfactory Clearance was effected. The majority of the entry ■ consisted of 4-year cattle, and prices • recorded ranged from £4 to £5 2s Gd, the latter figure being obtained for a line •of 48 Polled Angus bullocks offered on behalf of Onatai station and purchased by Messrs. Fetch Brothers, Te Kuiti. Yearling heifers are fairly eagerly • sought and good numbers have changed •■■ hands during the week. Cattle of size " and condition are difficult to procure and holders of heifers obtain higher prices than would be expected when due consideration is given to the low values at • which springers have been selling during this season. Generally the cattle lack size and condition and no feed will need to be spared from now on to enablexthem to. pick up sufficiently to be submitted next autumn in keeping with the size and condition desired. Sales ■ of marked cattle in good condition have been effected at up. to £4 10s, while prices for good-quality cattle, carrying condition, have ranged from £3 12s 6d to £4 ss. Hold-over heifers are meeting’ a better demand and a hardening of values for cattle showing quality is the order; realisations range from £1 5s to £1 15s. Supplies in the dairy section of cattle ‘ possessing quality and size are prac- ' tically nil, and much difficulty is experienced in finding cattle suitable for the inquiry. Most requirements' are drawn from the oddments submitted at auction. Well-done good-quality heifers meet spirited competition and realise up to £9 10s, while medium sorts at profit ' range in value from £6 10s to £7 10s, with backward and small sorts £4 10s to £5. Genuine dairy cows are also in 'keen demand, and ‘ young sorts change hands at from £8 10s to £ll with others £5 to £7. ‘ At the New Plymouth Haymarket sale yesterday a smaller entry of pig's than usual canie forward and prices hardened a little, this being applicable only to weaners. A total clearance was effected at the following rates: Unfinished porkers 32s to 335, large stores 24s Gd to 255, good slips 19s Gd, best weaners 14s to 15s Gd and others 9s to 13s Gd.

DOCKING OPERATIONS DELAYED. GOOD HEIFERS' HARD TO FIND. The Farmers’ Co-op. Organisation Society reports that with another week of boisterous weather making conditions, sheep farmers are finding difficulty in picking suitable weather for docking, and on a number of places lambs are becoming older than is usual before docking operations start. The percentages recorded by those who have already docked give, some indication that the lambing will be good; large percentages, in some eases approaching 120, are recorded, but conditions have been ; 'bo wretched and feed everywhere is so short that the position is causing some slight anxiety. ■■■■■■■ Great activity has been evident in the “weaher heifer section during the week, ‘ 'and further clearances have been made, '• good heifers being meet difficult to find ” in the province with the numbers of medium, undersized and poorer-condi-tioned available, with few to purchase them. The rise recorded last week in ' good cows and heifers has been easily maintained, and requirements are hard to fill. Fat cattle are not in over, supply, with heifers very hard to find. Best fat cows are making about £7 10s., and good bullocks £8 sfi. to £9 10s. Fat sheep are available and the price Bhows a slight easing. Good wethers are available at 18s. 6d. to 205., and good ewes at 14s. Cd. to 17s. Cd. Little has been done in the store sheep section during the week, only a few quotations coming forward and numbers of prospective purchasers waiting better .•mweather conditions before operating .■-..Weaner heifers are still inquired for and .< xJffices remain:. at about the same level,.

vendors asking £3 lOe. to £4 for good cattle. The Inglewood sale on Wednesday drew a large attendance of .buyers, and a first-class sale resulted. The dairy pens were well filled, and best cows made from £7 10s. to £8 155., second quality £5 10s. to £7. Best quality heifers made, from £7 to £9, and others from £5. There was a good yarding .of store stock, best paddock cows making from 30s. to £2, boner and lightconditioned. 10s. to 255., fat cows £6 15s. to £7 IQs., and fighter cattle £6. A full yarding of sheep was submitted, including some first-elasss rn-.s. hoggets at Us. 6d., fat two-tooth ewes and wethers 15s. 6d., prime ewes 19s. 9d. and medium lambs 9s. At the Urenui sale a fair yarding of dairy heifers brought £5 15s. to £7, and fat cows £6 to £7 Is. Mr. Rogers’ clearing sale was well attended, and bidding was brisk throughout. The cattle were only medium, some showing age, but condition was fair. AH met a ready market, implements were in first-class order and sold well. Best cows made £6 ss. to £7 155., and weaners (medium) 31s. A good sixyear gelding made . £4O. At the Waverley sale a small entry of sheep and a fair yarding of cattle were offered to a large attendance. Fat and forward cows on account of F. K. Pearce met a ready sale, ten good''P.A. and Hereford cows making £5, 21 fat cows £7, £7 2s. 6d., sound empty cows 355. to £2 55., and dairy, cattle (good heifers) £6 10s. to £8 and medium £5 10s. to £6. There was for the Okaiawa sale a small yarding of store cattle, with a few pens of dairy cattle. Good store cattle met a good sale, fight fat cows making £2 10a. to £4 65., sound empty eows 325. to 405., and store cows 15s. tO 3OS. ■■ ' ; At the Stratford sale good quality dairy cattle were keenly sought, the best dairy heifers selling readily at £7 15s. to £9 55., smaller lower-conditioned sortfl £5, £6, good dairy cows £B, and others £5 *to £6. For the small yarding of dairy cattle at the Kaponga sale competition was keen, best dairy heifers making £9 ss. to £7 12s. 6d., medium sorts £4 to £6, and dairy cows £6 to £B. MOTORISTS’ INSURANCE. MUTUAL COMPANIES. A net profit of £8352 is shown in the annual report of the North Island Motor Union Mutual Insurance Company, to be. presented at the annual meeting on September 23. Net income is shown at £61,476; claims paid and pending at £26,713; ex gratia payments to policy-holders whose vehicles were damaged or destroyed by the earthquake in Hawke’s Bay, £1423. Working expenses were £15,970; reserve for unexpired risks (additional), £9OlB. The funds in hand at the close of the third year are: Reserve for unexpired risks, £24,180 15s Gd; net profit, £13,641 18s; total, £37,822 13s 6d. A surplus of £7337 12s 8d on the year’s working is shown by the annual report and balance-sheet of the South Island Motor Union Mutual Insurance Association, which is to be presented at the annual meeting on September 23. The premium income, less returns, refunds and reinsurances, amounted to £29,589 13s 7d, as against £23,009 17s lid last year, while losses less reinsurance recoveries amounted to £13,053 8s lid, as against £9473 17s 7d the previous year. The association had had two years’ experience of risks taken under the provisions of the Motor Vehicles (Third Party Risks) Act, and so far the business secured had not resulted in a loss, but the past year’s operations did not show as satisfactory a, result as those of the first year, and at the present time left considerable doubt as to the premium paid being adequate to cover the risks taken. LONDON WOOL PRICES STEADY. FAIR COMPETITION REPORTED. By Telegraph—Press Assn.—Copyright. London, Sept. 17. At the wool sales 11,148 bales were offered, including 3306 New Zealand, and approximately 4000 were sold. There was a good selection and fair home and Continental competition at steady prices, , but there were considerable withdrawals in Merinos owing to high selling limits. Sllpes were slow of sale; Of New Zealand slipes, Eclipse brought 9d top price and average. •The Bradford market shows slightly more inquiry, but there is little business. Quotations are: Seventies, 24Jd; 64’s, 201 d; GO’s ISid; 56’s 14d; 50’s, lid; 46’s, Cd; 40’s 9d. Prices as compared with the closing rates of last series are reported by New Zealand agents and the Department of Agriculture to be as follow: Super Merino -scoured, 10 per cent, to 12 per cent, lower; good Merino scoured, 15 p.c. lower; ordinary Merino scoured, 15 p.c. to 20 p.c. lower; good Merino greasy, 7J p.c. to 10 p.c. lower; average Merino greasy, 10 p.c. to 15 p.c. lower; inferior and 'faulty Merino greasy, 15 p.e.lower; fine crossbred greasy, 10 p.c. lower; crocsbred greasy, medium and coarse, 15 p.c. lower; slipe, 10 p.c. to 15 p.c. lower. NEW PLYMOUTH MARKETS. Messrs. Webster Bros., Ltd., report egg sales during the week at the following prices:—Ducks, Is to Is Id; mixed, Is Old to is lid; hens, Is OJd to Is 2d. FISH PRICES. Fish is obtainable in' town at the. following prices:— Schnappcr: Whole; Gd per lb; trimmed, lOd lb; filleted, Is lb. Terekihi: Whole 5d lb; trimmed 9d lb; filleted Is lb. Flounder, Is lb. - Smoked: Schnappcr, Is lb; terekihi, Is lb; blue eod, Is 4d lb.