COMMERCIAL

Taranaki Daily News, 27 May 1933, Page 5 (Supplement)

COMMERCIAL

TARANAKI STOCK MARKET RENEWAL OF CONFIDENCE KEEN DEMAND FOR DAIRY STOCK. ACTIVITY IN HEIFER MARKET. VALUE OF. FAT EWES FIRMS. A week of steady trading is reported by the Farmers’ Co-operative Organisation Society Ltd. Mild conditions have set in and created a spring-like effect on the pastures. The European situation has improved considerably during the wek and a feeling exists to-day that at least there is some real ground for renewed confidence and the bottom has been reached. For both butter and cheese the market has improved during the week but the past few days has seen a slight setback. Fluctuations are to be expected, however. The lamb market has. improved slightly during the week and it is felt that should the price of cheese continue its upward trend, lamb may follow suit. Renewed activity has been shown during the week in the dairy heifer market although many holders have been compelled to reduce their ideas of value in order to effect a sale. A keen demand still exists for herds of dairy cows and the firm reports a further sale of a small, herd at £6 15s. All the yard sales have been well supported. The value of fat ewes has firmed during the week owing to the scarcity. Truck lots have been sold, at 10s. Little inquiry exists for fat wethers at from 13s to 15s 64 Store wethers are in demand but are difficult to procure. A keen inquiry exists for in-lamb ewes at 9s 6d to 10s for five-year ewes and Ils for four-year ewes. Quotations of young sheep,;are limited. ' -J Little alteration has taken place in values of fat cows and heifers. Good cows from the dairy have taken away from the sale of the better bred cattle and command good money in comparison. Best prime fat heifers make £4 15s to £5, lighter sorts £3 15s to £4 10s, best prime fat cows £4 to £4 10s and lighter sorts £2 10s to £3 10s. For store cattle the demand has eased considerably, only young cattle commanding attention. Dairy heifers constitute the bulk of the business. A very choice line of Holstein heifers was sold at £B. Other sales of three-year heifers have been at from £5 to £6. Sales of two-year heifers have been affected from £4 to £5. Weaner heifers are sought at from £2 to £2 5s for best quality. At the Waverley sale last Friday a large entry of sheep was submitted for auction. A good line of four , and fiveyear ewes on account of Messrs. Hopkinson and Campbell realised Ils Id. Ewe lambs realised 7s, store cows £1 6s to £3 and weaner heifers £2 3s. The Okaiawa sale on Monday drew a fair yarding of store cows. Springing cows made £2 9s, empty cows £1 17s 6d and store cows 18s to £1 14s. Stratford drew a small yarding of store cows which sold at late rates. At Inglewood a full yarding came forward comprising mostly store cattle which sold well. The prices Were: Store cows £1 Is to £1 16s, fat cows £2 10s to £3, dairy heifers to £5 6s and dairy cows to £4 10s. FAT SHEEP PRICES FIRM INQUIRY FOR IN-LAMB EWES. ~t ' MANY CULL COWS OFFERED. The New Zealand Loan and Mercantile Agency Co. Ltd reports:— 7" •’ Fat sheep: Prices remain on a par with last week’s rates. The expected rise in fat values has not yet happened owing chiefly to the fact that graziers in the South Island are hurrying everything fat or half fat into the yards and selling. This procedure is forced upon them in consequence of drought conditions, but once this glut of stock is disposed of prices are bound to rise. Fat cattle: Prices remained about the same as last week, chiefly owing to the same'cause as governs the fat sheep market ’ . A steady Inquiry is evident for in-lamb breeding ewes, and several, lines have changed hands at about the Ils mark. Store wethers and ewes are hard to obtain, although there is a steady demand for them. .Store lambs are dribbling into the yards' in small lots, but prices have gone back, if anything. A large number of cull cows : continue to come into the yards. Prices, however, are slightly easier than last week. Store P.A. and Hereford cows and heifers are selling steadily at late rates. Most graziers have now . filled their requirements. The demand for weaner heifers has slackened and consequently prices quoted are only nominal. A pleasing feature is the increased demand lately for . good type in-calf heifers, and a considerable number have been sold mostly for northern districts. Prices realised have been from £5 5s to £6 12s 6d for two-year cattle. Most of the buyers have been rather keen on good coloured animals. Apparently these are most in favour at the present time. Quite a good yarding of pigs came forward to Hawera on Thursday, and prices, if anything, showed an increase on last week’s rates. ' • Private sales during the week have been: Wether lambs to 7s 6d, cull lambs ss, fat ewes to 10s, fat heifers to £4 15s, in-calf heifers £5 5s to £6 12s 6d. Prices at our various sales have been as follows:— Douglas: Store cows to 30s, empty heifers to 355, dairy cows to £3 ss, springing heifers to £5, Black Poll steers to 30s. Stratford: Store cows to 325, sound rn.t. cows to 30s, weaner heifers to 27s 6d. Eltham: Store cows to 355, fat cows to £3 2s, bulls to £2 10s, weaner pigs to 6s 6d. Hawera: Forward wethers to 12s 6d, weaner pigs to 8s 6d, stores 13s to 16s, weaner heifers 27s to 345, sound m.t. cows 35s to 38s, store cows £1 to 355, fat heifers to £3 12s, forward conditioned heifers to £2 13s. WINTER FEEDING BEGINS WORKS BUYERS STILL ACTIVE. MUTTON PRICES REMAIN FIRM. Newton King Limited’s stock market repprt for week states that winter feeding is becoming fairly general throughout the district and stock, especially the younger section, is showing signs of the cold weather that was experienced prior to the mild spell which the district has enjoyed during the past week. Holders of surplus stock show keenness to quit, and ' as a consequence heavy yardings of oddments is the order in most

centres. Fortunately works buyers are operating freely in the grown section, and anything carrying condition, either male or female, meets strong support from that direction. Their operations over the past few weeks have, however, been of such magnitude that the space in the Waitara works is taxed to capacity, and an easing in the keenness to secure both sheep and cattle would occasion little surprise. The announcement of a further reduction of Is per hundred in hook values for beef bears out the firm’s views expressed ■in this direction, but an easing in the congestion of space may occasion the decline to be short-lived. Values for local consumption show little variation on late rates, best cows and heifers being worth to £4 10s, lighter prime £3 15s to £4, heavy young cows from dairy herds £3 10s and lighter and aged sorts £2 6s to £2 15s. • •

Values in the mutton section remain firm, and supplies available seem just sufficient to meet the local demand. Best wethers are quoted at up to 14s 6d, lighter 13s, prime ewes 9s 6d, others 7s 6d to 8s 6d. Store sheep are being freely inquired for, but it is difficult to obtain quotations that appeal. Business of some magnitude has, however, been completed during the week. The sale was made of a line of 300 4 and 5year ewes at 10s 6d, and 200 at 10s, while a line of 500 wether hoggets changed hands at Bs. Quotations of the latter class are very scattered, and an early appreciation in values would occasion little surprise.

Although the demand for store cattle was inclined to wane, the results of the Aria sale on Tuesday indicated a new lease of life in this department. Perhaps one of the largest yardings that has been submitted in this centre came forward. the entry comprising approximately. 650 head of store and station cattle, together with 1000 sheep. Bidding from the outset was animated, and with the exception of two lines of dairy heifers a total clearance was effected under the hammer. Extra heavy prime bullocks maiie £5 9s, fat and forward bullocks £4 2s, store and forward bullocks £3 4s, cross-bred store bullocks £2 Ils to £2 14s, 21-year Polled Angus steers £2 16s to £2 10s, 20-months Polled Angus steers £2, 20-months Hereford steers £2, 2J-year in-calf Hereford heifers £2 10s, 2J-year Polled Angus heifers, forward condition £2 10s, 20-months cross-bred steers £1 12s 6d to £1 15s, 20-months Shorthorn steers £1 12s 6d, weaner Polled Angus and Hereford steers £1 4s 6d, well-done mixed-sex Shorthorn weaners £1 5s 6d. weaner Hereford steers £1 7s, weaner Hereford heifers 17s to 17s 6d, weaner Polled Angus heifers 16s to 17s, small mixed sex Polled Angus weaners 13s, medium. to good quality 2-year In-calf Jersey heifers £4 to £4 ss, small £3 10s, full-wooled mixed sex hoggets 7s Bd. others 6s 9d. wether hoggets 7s, prime fat wethers 13s Id, lighter 12s 2d, ewe hoggets 8s Id, small 5s 6d, small wether hoggets 4s 9d, fat hoggets 9s 6d to Ils 6d .. . . - . Inquiry for weaner Jersey heifers continues to come to hand, but buyers’ ideas of values are below those expected by sellers, and this causes some difficulty in satisfying requirements. Business of some magnitude with this class was completed earlier in the year, and quotations of good cattle are now somewhat scattered. Holders of the best are quoting at from £2 10s to £2 15s. while medium cattle are obtainable at from £2 to. £2 ss, but little changing can be reported. Hold-over cattle are also inquired for, but requirements have to be satisfied from the small lots that are submitted at auction, and a little better competition is now offering for this class. Good quality cattle make from £1 2s 6d to £1 7s 6d and inferior and small 10s to 17s 6d.

Trade in the dairy section shows an increasing tendency, and many cattle have changed hands during the ■week. The inquiry is, however, for early calvers, and only those holders who have mated their cattle to calve in July and early’August are finding a ready outlet for their supplies. Traders have been operating freely during the week on both 2 and 3-year-old heifers, and some hundreds have been sold at from £4 to £5 5s fox* middle to end of June delivery. Onetruck lots of tops continue to be sought by outside buyers, and sales during the week have been recorded at from £5 15s to £6 10s, the latter figure being obtained for extra good cattle. Larger selections of good sorts have changed hands at from £5 10s to £5 15s. Dairy cows have also increased in favour, but the inquiry is purely local. The sale was made of a herd of 30 .at £7 10s, while another herd of a similar number changed hands at £B. The clearing sale season has commenced, and from the sales that have been conducted it is evident that prices will not fall far short of those ruling last season. At Mr. Cole’s sale on Monday last a good attendance gathered to witness the dispersal, and keen competition was forthcoming for good quality cattle due early. The best of the cows made from £6 to £B, aged and later calvers changing hands at from £3 5s to £4 ss. Other sales conducted during the week included the Tokirima cattle fair, but owing to the unfavourable climatic conditions a number of the cattle entered did not come forward. The sale was, however, a good one, young cattle of various classes -being in strong demand, while grown bullocks were sought at low rates. Three and a-half year good coloured bullocks in good condition made £2 12s 6d to £2 15s, 2j-year P.A. Hereford steers £2 9s to £2 15s, 18-20-months P.A. Hereford steers £1 14s to £1 16s, fat cows £2 12s 6d, cows with. salves at foot £2 : ls, store cows (mixed colours) £1 10s to £1 15s; 2-year in-calf Jersey heifers £4 ss, m.s. lambs (small) 7s 3d. The Douglas sale on Monday drew a good yarding in all departments, and a total clearance at satisfactory prices was effected. M.s. lambs niade 6s 8d to 7s 4d, b.f. lambs Bs, Romney woolly wether lambs 9s, f.m. ewes in lamb 9s 4d to 9s lOd, fat wethers (good) 14s 7d, fat lambs (good) 11s Bd, fat cows (light) £2s to £2 15s, works cows 24s to £1 15s 6d, Jersey cows with calves at foot £1 18s, store bullocks (low condition) £2 Is, 2-year in-calf Jersey heifers £3 15s to £4 ss, springing cows £4 10s, bulls £2 3s 6d to £2 17s, fat steers (3-year-cld light) £4 4s. The Hawera sale on Thursday drew a good yarding of sheep which met with a ready sale, and a total clearance under the hammer was effected. Fat wethers made from 12s lOd to 13s 6d, fat ewes 9s 6d to 9s 9d, fat lambs 11s 4d to 13s, ewe lambs 8s 6d to 9s 6d, store lambs 6s Id. The entry in the cattle section consisted of oddments. Two and a-half year Polled Angus heifers made £2 14s. fat cows from dairy herds £2 10s to £3 3s, dairy heifers in milk £4 5s to £4 15s. Boner and meaty cows sold at late rates. At the Stony River sale on Tuesday, in addition to the usual entry of fat and boner cows, a large line of rising 2-year old Jersey heifers was submitted, the most forward of which realised £5 Is, £4 7s and £4 3s 6d. Boners and meaty cows sold at late rates. Wether lambs made to 8s 3d, and failing-mouth ewes 6s. Moderate yardings of pigs are coming forward at the main centres, and during the past fortnight values have recovered to some extent, especially with regard to weaners and slips. The recovery reported at the New Plymouth sale last week was more than maintained on Friday, an advance being recorded for all classes. There were no heavy porkers offering. Very small weaners made 6s to 7s, good weaners 8s to 9s 6d, extra good slips Us to 13s, medium to good 8s to 9s 6d, small stores 14s to 16s, medium to 19&

BANK OF ENGLAND RETURN, DEPOSITS SLIGHTLY HIGHER. LITTLE VARIATION IN RESERVE. By Telegraph—Press Assn.—Copyright. Rec. 5.5 p.m. London, May 25. The Bank of England return for the week ended May 24 is:— ISSUE DEPARTMENT.

SHORT LOANS AND BILLS. The Bank of England rate, of discount is 2 per cent., to which it was reduced on June 30 from 2j per cent Short loans are quoted at f per cent., same as last week. The market rate of discount for best three months’ bills is 15-32 per cent., compared with J per cent, last week. CONSOLS AND COLONIAL STOCKS. MANY DECLINES IN PAST WEEK. Rec. 5.5 p.m. London, May 25. The following tables gives current quotations for consols and colonial stocxs. Under the heading variation decreases since last Thursday are marked with an x, the variation otherwise being an increase:—

PRICE OF GOLD IN LONDON. ■ . 1 . By Telegraph—Press Assn—Copyright. London, May 25. Gold is quoted at £6 2s 5d an ounce, compared with £6 2s 8d yesterday. WOOL PRICES REMAIN FIRM. DEMAND WELL SUSTAINED. London, May 25. At the wool sales 7606 bales were offered, including 5081 from New Zealand and about 6529 were sold. There was a well-sustained demand at full recent rates. Quotations: New Zealand greasy halfbred, M and N, top 12Jd, average 11 l-8d; greasy cross, Kaiwaka, 8d and 5 l-8d; scoured half bred, Glenrock, 18 Jd and 17Jd. The Bradford tops market is firm, but business is rather difficult owing to users’ reluctance to pay the advanced prices. Following are to-day’s Bradford quotations and those for the three previous

WHOLESALE EGG PRICES. GENERAL SMALL INCREASE. Egg prices (wholesale) ranged as follow at New Plymouth during the week, prices for the previous week also being

DAIRY PRICES LITTLE DOWN. REPORTS RECEIVED FROM LONDON. Butter Prices. Yesterday: Finest 78s to 80s; quiet. Last week: Finest 80s to 81s; quiet. Cheese Prices. Yesterday: White 475; coloured 545; quiet. Last week: White 48s to 495; coloured, 545; quiet. , . The following reports on the London

dairy market with last week’s prices in parentheses were received yesterday:— Mr. E. Griffiths (A. J. Mills and Co. Ltd.): The butter market is quiet; New Zealand finest, 78s to 79s (80s to 81s); New Zealand first, 76s to 77s (78s to 795); New Zealand unsalted, 82s to 84s (82s to 84s); Danish, 88s to 90s (92s to 945); Australian, 76s to 78s (77s to 795). The cheese market is quiet. New Zealand white, 47s (48s to 495); New Zealand coloured, 54s (54s to 555); Canadian white, 64s (625); Canadian coloured, 64s to 66s (64s to 665). New Zealand Loan and Mercantile Agency Company, Limited (dated May 24): Butter, New Zealand choicest salted, 79s to 80s per cwt, (80s). Cheese, white, 47s per cwt (48s); coloured, 53s to 54s per cwt (545). The markets are slow.

Notes issued— In circulation In banking department .... £369,873,754 76,114,913 Total £445,988,667 Government debt Other Government securities flfhpr securities £11,015,100 240,833,245 4,517,763 3,633,892 Silver coin ♦ Gold coin and bullion .... £260,000,000 185,988,667 Total £445,988,667 * Amount of fiduciary issue. BANKING DEPARTMENT. Proprietors’ capital 14,553,000 3,226,229 15,707,046 99,204,834 37,251,930 3,622 Deposits— Bankers’ .......... Other accounts Seven day bills, etc. ... Total £169,946,661 Government securities . Discount and advances . Other securities 70,001,127 11,573,631 11,236,974 76,114,913 1,020,016 Gold and silver coin ... Total £169,946,661 The principal items of the above return compare as follow with those for last week, the proportion of the reserve to liabilities being shown in the last line:— Deposits— May 17 May 24 Public ........ £15,593,836 £15,707,046 Bankers 97,298,183 99,204,834 Other accounts 37,372,608 37,251,930 Totals .. £150,264,627 Securities—. Government .. £68,451,127 Advances, etc. . 11,573,805 Other 11,674,676 Reserve 76,340,243 Note circulation . 370,636,508 Coin and bullion 185,988,501 Proportion .... 50.80 £152,163,810 £70,001,127 11,573,631 11,236,974 77,134,929 369,873,754 185,988.667 50.60

Price Variation £ s. d. s. d. Consols, 24 per cent. .. 71 7 6 47 6x Funding Loan, 4,1960-90 109 0 0 15 Ox War Loan, 3J 98 17 6 12 6x Conversion Loan, 3 J .. 98 17 6 20 0x Victory Bonds, 4 108 0 0 22 6x Com’wealth, 5, 1945-75 . 104 15 0 7 6x Com’wealth, 6, 1931-41 . 102 0 0 2 6 Com’wealth, 31, 1936-37 100 2 6 7 6x Victorian, 3, 1929-49 .. 88 10 0 40 Ox Victorian, 3J, 1929-49 . 93 10 0 15 Ox Victorian, 5J, 1930-40 , 101 5 0 15 Ox Victorian, 5, 1932-42 .. 100 10 0 10 Ox Victorian, 4|, 1940-60 .. 102 12 6 27 6x NSW., 4, 1933 101 12 6 6 3x NS.Wn 3, 1935 .. 98 17 6 7 6x N.S.W., 3J, 1930-50 .... 92 3 9 11 3x N.S.W., 64, 1930-40 .... 102 7 6 5 Ox N.S.W., 6, 1930-40 100 15 0 10 Ox Queensland, 5, 1940-60 . 102 10 0 7 6x Queensland, 3, 1922-47 . 88 10 0 30 0x Queensland, 6, 1939-40 . 102 12 6 2 6 New Zealand, 4J, 1948-58 103 10 0 '12 6x New Zealand, 3|, 1940 . 100 0 0 5 Ox New Zealand, 3, 1945 .. 92 2 6 16 3x New Zealand, 6, 1936-51.107 10 0 Same S. Australian, 3|, 1939 .. 100 10 0 5 Ox S. Aus., 3, 1916 or after 73 5 0 15 Ox S. Australia. 64, 1930-40 102 5 0 10 Ox Tasmania, 34, 1920-40 . 99 7 6 13 9x Tasmania, 3, 1920-40 98 0 0 Same Tasmania, 6J, 1930-40 . 102 12 6 Same W. Australia, 3j, 1929-35 99 10 0 12 6x W. Australia, 3, 1915-35 98 15 0 7 6x W. Australia, 6, 1930-40 101 10 0 17 6x

weeks: — May 4 May 11 May 18 May 25 Per lb. Per lb. Per lb. P er lb. d. d. d. d. Seventies .. ... 25 26 26 27 Sixty-fours .. 231 24 241 26 Sixties ... 22 23 231 241 Fifty-sixes ... 185 181 19 19 Fifties ... HI 12 121 13 Forty-sixes 81 9 91 91 Forties ... 8 8i 9 9

given:— This week .Last week. 1st. grade hen 2 2 to 2 34 2 0 to 2 44 Second grade 2 0 to 2 14 1 10 to 1 11 Mixed 2 0 to 2 3 1 10 to 2 3 Duck eggs .. 1 11 to 2 0 1 9 to 2 0 Pullets .... 1 11 to 2 0 1 8 to 1 11