FINANCE AND COMMERCE

Taranaki Daily News, 11 June 1932, Page 19 (Supplement)

FINANCE AND COMMERCE

TARANAKI STOCK MARKET

BUSINESS WITH DAIRY CATTLE.

PROBLEMS IN BEEF SECTION.

Heavy frosts have been experienced during the week and their toll on the pastures is evident throughout the district, Newton King Ltd. reports. In consequence a disposal of any surplus stock is essential in most quarters irrespective of the meagre prices at which prospective purchasers are operating. Business during the week has been largely confined to the dairy cattle trade, the inquiry in this department being steadily maintained through the presence of outside buyers, the fulfilment of buying orders received together with local inquiry for small lots. Culling of dairy herds is on the -wane and yardings of cull cows are now smaller. The yardings will be supplemented, however, with large entries of dairy cows and heifers. The problem of the stock market. is the stagnant state of the beef _ section and little optimism as to any immediate improvement is voiced by those who are in a position to express opinion. The feed question is causing concern with the majority of holders and many have no alternative but to accept the low prices ■, offering. Freezing companies exhibit little interest in tliis department as supplies available exceed the local demand and this fact has a further depressing effect on realisations, values being: Prime well-bred cows and heifers £4 to £4 10s, best cross-bred sorts £3 to £3 10s, light and unfinished £1 15s to £2 53. Supplies of mutton seem just sufficient to meet the local demand aqd values are on a par with late rates. Best wethers are quoted at from 13s Gd to 14s 6d, light and unfinished 12s Gd, best ewes 10s 6d, lighter Ss to 9s. Inquiry for store sheep is spasmodic- and business during the week has beep of little consequence. Ewes in lamb to Southdown rams are sought at restricted limits and from 9s Gd to Ils ia._the order for four and five-year-olds, while younger sheep sell at from 12s 6d to 14s. Store and forward wethers suitable for turnips find good favour and lines quoted privately are readily.- -absorbed at from 10s 6d to Us 6d. -■ There has been little or no transacted in station-bred store cattle latterly, and activity in this department cannot be expected until such time as fat catle show an upward, trend in values. xt Although there have not been .the numbers of clearing sales conducted, to date this year as there have been previously, the prices ruling; will be a guide to what will be a fair average during the next few months. Best-quality young Jersey cows early calvers have made from £7 to £ll, young Jersey cross cows from £4 to £6 10s, Jersey cows, of good quality (early calvers but showing age) £3 to £5 10s, cows in poor condition and late calvers' £1 to £2. In-calf heifer values remain at about £7 for the. best, the sameasin last week. Sale entries of good-quality weaner heifers have been small during the week, consequently saleyard values cannot be taken as a guide. Private sales of marked heifers have ’been made at £2 10s to £3 5s and .of good-quality unmarked, heifers at about £2. For small and mixed-coloured the market is very erratic. ■ At Douglas on Monday mixed-sex lambs made 8s 6d, mixed-age wethers Ss, 31-year Friesian steers £2, dairy cows (springing) £4 ss, calved £4 5s to £5

At iWaiwakaiho on Thursday fat-and forward wethers made 12s 3d ard 12s, fai/cows up to £3 Is, forward bullocks £3 las, dairy heifers in milk £5 to £6 iilkl springing cows £4 to £0 ss. Values, especially for weaners and slips have a rising tendency at the various pig sales, this • generally being the case at this time of the year. Largo stores and porkers remain at recent rates. Quotations at the New Plymouth Haymarket yesterday were: Weaners 7s Gd-to 9s Gd, very small weaners 3s Gd to ss, extra good slips 12s to 16s Gd,light porkers 19s to 20s, sow with litter of five £3 Is.

ACTIVITY IN MOST SECTIONS.

SALES IN SOUTH TARANAKI.

A Jot of activity has keen experienced. in most sections of the stock markets during the week, the Farmers’ Co-operative Society Ltd. reports. The weather has not been as favourable as it might have been but in spite of. this fact stock on the whole are looking well. This was borne out by a consignment of some 350 dairy heifers trucked to a northern client during the week.

The inquiry for dairy heifers continues and during the week the Farmers’ Co-op. has made several sales at prices ranging from £4 15s to £7. The demand for weaiier heifers is not so keen as it was and the best of this class of stock can be bought at prices varying from £1 15s to £2 15 s. The demand for dairy herds has nob been so firm as it was this time last year, but prices arc on a par and sales have been made from £7 to £9. There is. ii keen demand for sound empty cows but the price (15s to 255) is disappointing; Run cattle of all descriptions are practically unsaleable, good empty P.A. cows having changed hands at £1 to 255. Store bullocks are also very dull of sale at prices ranging from £2 to £2 10s. Contrary to expectations Hie fat cattle market has shown.no improvement during the past week but the firm anticipates more inquiries in this section from outside sources shortly. The inquiry for store sheep continues, especially for in-lamb ewes and hoggets. The latter, however, are hard to procure in sufficient numbers, probably because the works are operating so freely for the late fat lambs. There is quite an inquiry also from back country farmers for store wethers but the buyers’ price does not coincide with the ' vendors’ ideas of values. During the week a sale was made of an exceptionally fine line of fat ewes at

10s 6d. Fat wethers have changed hands at prices ranging from 12s 6d to 14s 6d for a good line. Ewes in lamb to Southdown rams have been selling at from 9s 4d to Us for 4 and 5-year-old sheep and up to 13s for six-tootbs. Good ewe hoggets have been sold, at up to Us Cd and mixed sexes at from Ss 6d to 9s 6d, with wether hoggets at BS. As the King’s birthday was on the usual sale day (Friday), the Waverlcy sale was held on the Thursday. Consequently the yarding was not up to expectations but most of the offering was quitted at the following prices: 100 4 and 5-year ewes i.l. S.D. rams on account Mr. qy. if. Watkins, Ss 9d; empty heifers, £1 12s Cd; boner cows, late rates; dairy cows, £4 10s to £6 10s.

At the Auroa sale on Monday there was a large entry comprising mostly store. cows. There was a slight advance in price on previous sales. A small line of ewes in lamb to Southdown made Ss Id.

The clearing sale season lias started but the herds have been in poor sale condition and showing little quality, shortage of feed during the latter part of the season making itself apparent. A noticeable feature of the sales already conducted is the keen demand for top quality cattle in good condition; while buyers can still be found for poorer quality sorts the prices paid for these cattle show a. more marked decline on last season’s values than do the prices paid for better quality cattle.

DAIRY COWS IN STEADY DEMAND.

REMAINDER OF MARKET DULL.

The New Zealand Loan and Mercantile Agency Company Limited reports that very little business has been done during the week in fat sheep. A few small lines have been cleared to butchers at late rates. At the Hawera sale a few prime fat woolly wethers made up to 13s Gd, and prime fat ewes to Ils. Fat lambs were present in small numbers and the quality was poor, most being second grade. Prices were from Ss to 10s. Two-tooth wethers sold at up to Us Gd. No move has been made in the fat cattle section. Fat cattle of all sorts are a drug on the market, and the position remains unchanged. The firm had no entry of good beef at its Hawera sale.

The store cattle market is lifeless and prices remain unchanged. A few inquiries for small lots of stores have baen received, but vendors’ ideas of valuS are above purchasers’. The demand for dairy heifers is steady, and a few lines have been disposed of during the week. Prices have been from £6 15s to £B. Local demand is not keen yet, and most of the lines sold have gone out of the district. Several very large consignments have been railed during the week, principally cattle that were bought on forward delivery. For weaner heifers the demand is very slack at present and no business is resulting. Vendors generally are lowering their reserves to meet the market, and this will result in increased sales.

No demand exists for pigs, this being always the slack period of the year in this section. Prices and demand will probably improve next month. A steady demand exists for dairy cows, and several small herds have been disposed of at fair prices. There appears to be a fair demand for calved cows, and at the Hawera sale the Loan and Mercantile Agency sold these at up to £5 15s for medium class animals. Sales of heifers and cows to Morrinsville and Hawke’s Bay have been made during the week.

GRAIN MARKETS IN BRITAIN.

By Telegraph—Press Assn.—Copyright. Hoc. 5.5 p.m. London, June 9. The demand for wheat cargoes is not active and quotations are down sixpence. Parcels are poorly supported, with, quotations threepence to sixpence lower. Quotations for futures are: London June 22s 6d, September 22s 4Jd, December 22s 74d; Liverpool, July 4s 9Jd, October's 11 l-Bd, December ss. Spot trade quotations are: Australian exship 28s to 28s 3d. •Flour is quiet, Australian ex-store being quoted at 20s to 20s Cd. Oats arc slow, with Australian Algerian quoted at 17s to 18s, and A Gartons at 23s to 245. Peas are in improved demand.. Quotations are: Blue, Tasmanian £l9 to £2O, New Zealand £l3 to £l3 10s; Maples, Tasmanian 70s to 72s fid, New Zealand 08s 6d to 60s 6d. New Zealand beans are 29s to 80s 6d.

SHAREMARKET TRANSACTIONS.

Christchurch, June 10: Sales on exchange: Commercial Lank of Australia, 13s fid; Bank of New South Wales, £25 ss; Bank of New Zealand (cum. div.), 24s 6d; Tooth’s Brewery, 26s 3d; Christchurch’ Gas,.2ss Cd; New Zealand Breweries (cum. div.), 24s 5d (two parcels), 24s sd; Alexander Mines (contr.), 18s 3d'- Kin* Solomon, Is 2hl; Mahakipawa, 4d; Okarito, 9s 4d, 9s 4Jd (two parcels); Waihi, 14s fid, 14s 7d. Sales reported: New Zealand Government 51 per cent. Inscribed, 1937, £96 10s; Bank of. New Zealand (cum. div.), 42s 9d; New Zealand Insurance. 36s lOAd; Goldsbrough Mort 21s Cd; New Zealand Breweries (cum. div.), 24s 5d (three parcels) British Tobacco (cum*, div.), 28s ud, ~Bs 2d ((three parcels), 28s Id. Auckland, June 10: Sharemarket sales: Bonds, 1937, 51 per cent., ‘September, £22 10s; Stock, 1933, 41 per cent, £92 10s; Stock, 1933,-51 per cent, (two parcels), £9B 10s; Auckland lire Board, 1939 6 per cent, £lOO 10s; Commercial Bank, 13s fid; Bank of New South Wales, £25 15s* National Insurance, Ils; Auekland Gas, 20s 7d;_ Farmers’ Trading, 3s 4’,d; Alexander Mines (los Gd pa’d), 3 s 3d; Golden Dawn, 5s 9d, 6s; Waihi, Ils Gd.