FINANCE AND COMMERCE

Taranaki Daily News, 16 April 1932, Page 23 (Supplement)

FINANCE AND COMMERCE

TARANAKI STOCK MARKETS COMING OF COLD WEATHER, qNEWTON KING LTD’S. REPORT. Newton King Limited, stock report for the past week; — The mild weather which prevailed for a short period after the recent warm rains, Came to an abrupt end on Thursday with the incoming of an untimely cold southerly, and present indications dispel to some degree what was hoped, to be a good autumn, and, as a result, a further restriction of operations in the stock market may be expected. Business during the past week has displayed little confidence in any department. Usually at this period strong inquiry exists for both in-calf and weaner heifers, but to date business with either class falls short of that conducted in previous years. However, during the week good business, comparatively speaking, has been transacted in in-calf heifers, some five hundred having been purchased, by northern buyers for May and June delivery. Business on this basis is hampered to some degree through holders who Wish to quit early having mated their supplies later than is. desired for early trading, and only the lines showing reasonable forwardness attract interest. Reports from outside centres reveal a hardening tendency in the beef section, but a shortening of supplies is to some extent accountable for any advance, as where full markets are submitted, realisations remain on a par with late quotations. Local values have not altered, and little competition is in evidence for the fair numbers that are offered at auction, realisations ranging . from £2 10s to £3 5s for medium-weight cows, while light and unfinished sell at from £1 12s 6d to £1 17s 6d.

Fat bullocks continue to be neglected, and any that are sold go to the works at freezing rates, that is 15s per 1001 b. Sales by private treaty include a line of prime young Hereford cows and heifers at £5, lighter weights £4’ to £4 10s. Supplies in the mutton section are diminishing, and before long'an appreciation in values may result. At the moment wethers are worth in the vicinity of 13s 6d and ewes from 7s Gd to 8s Gd. A slight improvement in the freezing rates for lamb was announced early in the' week, s|(l now being offered for woollies up to 421 b, the schedule for other classes remaining unchanged. Interest in the purchase of breeding ewes is of little account, and few change hands.

Wethers and forward lambs continue to find good favour and quotations of either class are rapidly absorbed, the demand for the former being in excess of the supply, and holders receive a re-, munerative figure for their- supplies when due consideration is given to the present freezing rates. Good stores sell at up to Ils, others 9s 6d to 10s. ■ Lambs are not in plentiful supply, forward sorts selling at from 7s Gd to 8s 6d, medium 5s 6d to 6s 6d, small 4s. Business in tho store cattle section practically confines itself to that conducted under the hammer, and as the yardings generally speaking consist of good numbers of reject cows, supplemented by fair numbers of weaner heifers, a standard of values for other classes is difficult to assess. Works buyers operate strictly to schedule on reject cows, and from 10s to 17s 6d is tlm order for lightconditioned cattle and from £1 5s to £1 10s for meaty sorts. The yardings of weaner heifers include few top-quality cattle, holders preferring- to sell privately. .Quotations of best cattle range from £2 to £2 10s, but of the sales to date £2 seems to* be tho average figure at which buyers of good cattle are prepared to operate. Inferior heifers are dull of sale and from 17s Gd to 22s 6d is the order, while small and cross-bred sorts are neglected and sell at from 7s Gd to 10s. Most interest is centred in tho in-calf heifer trade, but little confidence is displayed by those who purchase on wholesale lines, and some difficulty is experienced in getting sellers to take an appreciable’ view of purchasers’ ideas of values. Sales to date for the end of May delivery have ranged from £5 to £5 10s, while up to £6 has been recorded for tho best lines offering with a later delivery. .There is evidence of good numbers being required in small lots, but as yet trading on these lines is of little account. However, next month should see the smaller man operating and as holders intimate their readiness to accept reasonable offers, completing should not he difficult. Sales of one-truck lots of good cattle have been recorded at from £6 to. £6 10s, but where buyers are prepared to take bigger percentages of lines, lesser money is acceptable. At Douglas sale on Monday a moderate yarding of sheep was offered, and the same met with ’good competition, the whole of the offering being cleared under tho hammer. The cattle pens were filled to capacity and with the exception of a lino of bullocks and a line of mixed sex Red Poll cross weaners a total clearance under the hammer was effected. Quotations were: Mixed-age wethers 10s 6d, 2 and 4-tooth wethers 9s 2d to 10s Gd, f.m. owes (empty) 6s -Gd, m.s. lambs (small) 4s 2d, wether lambs (medium) 6s Id, wether lambs (small) 4s Gd to 4s lid, ewe lambs 9s, fat cows £2 13s to £3 Is, forward cows £1 5s to £1 15s, works cows 14s to 19s, works bulls £1 7s to £3 17s, 20-months steers £1 7s, weaner heifers (very small) 6s, calved heifers £4 15s.

The Stony River sale on Tuesday drew a good entry of sheep and cattle. A fair number of fat cows were included in tho entry and competition to a point was keen, realisations for the various classes being as follow: Forward-condi-tioned lambs 8s 3d to 9s 6d, medium os lOd, fat ewes 8s Bd, culls 4s 9d, prime cross-bred fat cows £3 6s to £3 9s, medium weights £2 10s to £2 18s, light £2 to. £2 4s, unfinished £1 9s to £1 12s 6d, meaty works cows £1 5s to £1 7s, boners 16s to 17s, good quality Jersey heifers £1 16s, others £1 2s 6d. The Hawora sale on Thursday drew an average entry of cattle, but a dull sale resulted. Fat heifers £2 to £2 10s, works cows 12s 6d to £1 2s, weaner Jersey heifers £1 to £1 Bs, dairy cows close to profit £3 12s 6d to £4 2s 6d. The Waiwakaiho sale on the same day drew an average yarding, which was quitted at the following rates: Goodconditioned lambs 7s to 7s Id, medium 6s 6d, dairy cows at profit £4 5s to £5 ss, July, culvers £2 7s 6d to £2 10s, calved heifers £3 12s 6d, boner cows 10s to 19s, meaty sorts £1 5s to £1 7s, .weaner Jersey heifers of fair quality and size £1 03 6d to. £1 7s, small 16s. Stratford horse fair on Saturday drew a moderate entry, but the demand was limited, and as a result only a small number were sold. Realisations were as follow; A first-class 3-year-old farm gelding broken to all work £33, young spring carters to £l7, aged farm horses £ll 10s to £l3, hacks £1 to £3 10s, 3-year draught filly unbroken £l6. An entry of 160 pigs was submitted at the New Plymouth haymarket sale on Friday, but .competition was weak and prices recorded were again low, realisations being as follow: Good porkers £1 6s, unfinished £1 2s, large stores in good condition 15s. slips 7s 6d io 9s 6<l, best weaners 5s 6d to 6s 6d, others 3s to 4,s 6d.

Latest cables relative to the butter and cheese markets indicate that both are weak, and a recession of 2s all round is reported on last wack’s quotations. Butter is now quoted at 106 s to 108 s; cheese white 61s to 625, coloured 62s to G3s. STOCK BUSINESS RESTRICTED. HARDENING OF LAMB PRICES. Weather conditions continue unsettled and the beneficial effect of the general rain is already being felt throughout the district, the Farmers’ Co-op. Society reports. Stock business, however, is restricted in all sections, it being between seasons as far as sheep are concerned, and operators in the dairy cattle section are cautious. Although inquiries are coming to hand, little business has eventuated as yet. The wool sale at Wellington was as satisfactory as could be expected, tho finer wools being in demand up to 4d and 5d but poorer, inferior and shabby lots and all vfoolis showing traces of seed being neglected. Bidding was conned to very low levels. Tim outlook is obscure and it' is difficult to forecast the trend of the markets in the next few months. Fat’ sheep remain on a par, with a hardening tendency in the lamb se.ction, due to another rise in the works schedule for lamb, which is now 5-Jd and 4A<l for seconds, while the wether price is 13s. In tho store sheep section there is strong inquiry for good, forward S.D. lambs, which are difficult io find, sales having been made during the week at from 8s to 10s, depending on size and condition of the lambs. There is still a demand for 2-tooth wethers for back country, but these again are very difficult to find the quotations are few and far between, purchasers having to content themselves with picking up odd lots at prices ranging from 9s to Ite. The fat cattle market is steady at last week's quotations, butchers filling theii" requirements mostly in the saleyards. Truck lots of first class prime station cows were sold during the week at £4, £4 5s to £4 15s. Amongst the dairy cattle odd sales of wcaners have been made with a truck or two of ifcalf heifers having been sold in both sections. Prices remain tho same as last week’s quotations and business is restricted. At the Waverloy sale there was a medium entry of pigs and sheep and a slightly larger entry of cuttie. An entry of store G-tooth wethers on account Riminui Station made 9b and store lambs ss, 5s 6d, 6s. Yearling heifers (medium) made' 25s to 32s 6d, store cows 14s to 18s, empty heifers IGs to 37s 6d. A large entry of store cattle with few fat cows and weaner heifers was yarded at the Auroa sale. Tho weaners were difficult to sell but tho store and fat cattle met a ready sale. Sound empty cows were in demand at a price. Fat cows made £2 to £3 ss; good stores 15s to £l, medium 10s to 12s 6d, sound empty cows 19s to 30s, weaner heifers 25s to 32s Od. At the Kapong sale there was a full yarding of cattle. Bidding was keen for forward cattle among local dealers and works buyers. Two or three linos of weaner heifers were offered but there was little demand. Store cattle made 10s, 16s, IDs and 20s, light conditioned and forward cattle £1 4s, £1 Gs, £1 18, £2 12s, bulls £2 2s Od and £2 10s, weaner heifers (small) 10s, well grown and good colours ISs to £1 6s.