FINANCE AND COMMERCE

Taranaki Daily News, 15 July 1933, Page 11

FINANCE AND COMMERCE

TARANAKI STOCK MARKET TONE STILL CONFIDENT. PRICES WELL MAINTAINED. SHEEP PRICES HARDENING. Newton King Ltd.'s stock market report for the week states that the confident tone of recent sales continues to be displayed throughout the stock market, together with the general improvement in prices, tends to the belief that a better standard of values has been established, but the recovery is expected to be slow as the low figures that have ruled over the past two years will not be readily forgotten. It is, however, encouraging to be able to record that the improvement has been sustained over a period sufficient to warrant optimism regarding the future. Feed is the main problem at the moment, and were it not for the fact that artificial feeding is necessary in most quarters the improvement in the market would undoubtedly be of a more marked degree. At the moment dairy cows and heifers and cattle suitable for next mating season account for the bulk of trade, and values for cattle of quality show a hardening tendency. Although values in the beef section are firm and reports from established markets convey a slight hardening tendency, little foundation for optimism concerning the futiire of this branch is offered from reports of overseas markets, and the appreciation in values seems but a seasonal one. Freezing buyers show little interest in this branch, and supplies for local consumption are being fulfilled at the following rates: Prime cows and heifers, to £5 ss; lighter prime,. £4 10s; good young sorts from dairy herds, £3 10s to £4; light and plain, £2 10s to £3. Values for all classes of fat sheep are firm, supplies being just sufficient to meet the local demand. Wethers are being quoted at up to 18s, and ewes at 14s to 15s. Lambs continue to be keenly competed for, and although a slight depreciation in overseas values has been reported, little alteration is noticeable in local prices. Prime sorts sell at up to 18s; good, 15s to 16s; light and plain, 12s 6d to 13s 6d. All classes of store sheep are freely sought and excite keen bidding when submitted to auction, but little business with classes other than in-lamb ewes can be reported. Ewes mated to Southdown rams continue to find most favour, and up to 16s has been paid for good four and five-year-old sheep, sales of older ewes having been effected at from 12s 6d to 14s. Store wethers are seldom offered, but buyers intimate their readiness to purchase at from 12s 6d to 13s 6d. Quotations of hoggets are also conspicuous by their absence, and with the high figures that are ruling for fats it is difficult to assess a standard of values for the guidance of holders. Sales of wether hoggets have been made at from 9s 6d to 10s 6d, while changing of ewes has been effected at from Ils 6d to 13s 6d. Business in the store cattle section is for the most part confined to that under the hammer, oddments constituting the offerings, and of these sound empty cows, yearling and two-year-old empty Jersey heifers are the most popular, and. values show a tendency to advance. Good quality sound empty cows sell at from £2 to £2 15s; others, 30s to 355; two-year empty Jersey heifers, £1 15s to £3, according to quality; top quality yearling Jersey heifers, £3 5s to £3 10s; good, £2 15s to £3; smaller cattle of quality, £2 10s; good quality hold-over, £1 12s 6d to £1 17s 6d; medium, £1 2s 6d to £1 7s 6d; inferior, 10s to 15s. The sale has been made of two lines of 50 top quality yearling heifers at £3 10s a head. Larger entries of dairy cattle are coming forward to the fortnightly sales, but only cattle well forward and in good condition are sought. Clearing sales continue to attract large benches of buyers and the results indicate that the demand for cows is still far from satisfied. Good quality young cows due in July and August meet most favour and sell at from £9 to £lO 10s, with occasional outstanding animals realising in excess of the latter figure. Later calvers of quality meet a reasonably good demand at from £6 10s to £7 10s, and aged and crossbred £4 to £5; while inferior cattle make little in excess of boner prices. Inquiry from outside districts for springing heifers is occasional, and from £5 15s to £6 10s is the order for good cattle. The sale has been made of a line of 100 good sorts to a northern buyer at an approximate average of £5 15s per head. The Inglewood sale on Wednesday drew one of the largest yardings that has been submitted at this centre for some months. The entry included 200 dairy cows and heifers, and the prices recorded for good quality, heifers showed a little appreciation on late rates. Dairy cows due early also met spirited competition to a point, and although no high figures were recorded, the sale was consistent throughout. Good quality two and three-year-old heifers due July and August made from £6 5s to £7 ss; medium cattle, £5 5s to £5 15s; small and later calvers, £3 5s to £4 10s; young dairy cows due early, £7 5s to £8; good quality later calvers, £5 to £6 ss; aged, £3 5s to £4 10s. The entry in the store cattle section included a good number of yearling and two-year-old empty Jersey heifers. The entry of yearlings left a little to be desired so far as the condition of the cattle was concerned. However, practically a total clearance was effected. The two-year empty Jersey heifers met with a ready sale under spirited competition. Good quality yearling Jersey heifers made £3 Is to £3 ss; medium to good cattle, £2 13s to £2 15s; average sorts in light condition, £2 4s to £2 8s; average quality hold-over heifers, £1 10s to £1 12s; others, 23s to 265; good quality two-year empty Jersey heifers made £2 11s to £3 Is; others, £1 15s to £2. Good quality young sound empty cows made £2 8s to £3 Is; others, £1 15s to £2; meaty works cows, £1 16s to £2; boners, 16s to £1 10s; 4-tooth ewes mated to Southdown rams, 17s 6d to 18s Id; mixed age ewes (Southdown rams), 14s 3d; 4 and five-year ewes (Southdown rams), 13s 6d; store hoggets, 9s 3d to Ils 6d; fat ewes, 15s. The Urenui sale on Monday drew an average yarding in the store cattle section, which was supplemented by a good entry of dairy cattle. Practically a total clearance under the hammer was effected Young dairy cows, due July and August, made, from £6 5s to £7; average cattle, £5 to £5 15s; later calvers and inferior, £1 5s to £4: crossbred springing heifers to good condition due August, £5 5s to £5 10s; small-and later calvers, £3 15s to £4 10s; sound empty cows (good quality) £2 15s; others, £1 15s; two-year empty Jersey heifers, £2 Is to £2 13s; fat cows, Jersey sorts, £3 16s; forward conditioned cattle, £2 2s to £2 8s; slip pigs, 13s 6d to 14s 6d; wether hoggets, Ils 4d. A good attendance of the public was present at the first dairy sale at Stratford on Tuesday, and the general tone of the sale augured well for the commg season. The cattle yarded were rather mixed to quality and condition, the better sorts calving early meeting with strong competition. Yearling heifers made £2; dairy cows (good), £7 to £8 ss; medium, £5 10s to £6 15s; calved, £5 10s to £7; late calvers, £2 to £4; springing heifers (good quality), £7 10s to £8 ss. At Mr J. P- Brophy’s clearing sale atStony River on Tuesday there was a

good attendance. The herd consisted of crossbred cattle, and anything due early and showing quality met spirited competition. July and August calvers sold at from £8 5s to £9 ss; crossbred cows due early, £6 10s to £7 10s; late calvers, £5 to £5 15s; aged, inferior and late cattle, £2 15s to £4. At Mr. R. Giddy's sale the offering consisted of 50 Jersey and Jersey-Ayr-shire cross dairy cows. Good quality early cattle were again to strong demand, and from £7 to £8 5s was the order for the tops of the herd, crossbred cows showing a little age selling at from £5 5s to £6, and inferior and later calvers £3 to £4 ss. A good demand for all classes of pigs continues, and prices show a further hardening tendency. Yardings throughout the district have been much smaller than is usual at this period, and this undoubtedly assists the market. The New Plymouth Haymarket yesterday drew a small yarding, which was keenly competed for, a total clearance being effected at prices in advance of late quotations. Large stores in good condition made 22s 6d; lighter conditioned sorts, 20s; choice weaners, 13s to 15s; others, Ils to Ils 6d. » LAMBS SLIGHTLY EASIER WEANER HEIFERS WANTED. MOST PRICES MAINTAINED. The New Zealand Loan and Mercan tile Agency Company Limited reports that the fat sheep market is still good, although lambs have steadied to price in sympathy with a decline in values in Britain. Ewes and wethers maintain last week’s rates. Fat cattle are still slow of sale, and prices have not yet dvanced as have those for sheep. In-lamb ewes are very keenly sought after, but there are not many offering. Up to 17s 6d has been paid for sound mouth ewes in lamb to Down rams. Store and forward wethers and ewes are also in demand, but the supply is very limited For store cattle a fair demand exists, but there is not a great amount of selling, as in most cases vendors’ prices are still too high. For weaner heifers a very strong demand is evident, and numbers have been sold during the week at up to £3 5s for tops. Very few good cattle are now being quoted, and prices ;.re likely to advance still further. In-calf heifers still find plenty of buyers for good early calvers, and prices remain at about the same as last week. There are still quite a few heifers left in Taranaki, and these are being mostly held for sales later on. From advices received from the Waikato heifers are

selling well there, and this must reflect upon Taranaki. The demand for good young early calving cows is' very good, and the clearing sales are being well attended. Bidding is generally very brisk. Late calvers are not in good demand. Implements and sundries at the sales are also bringing good prices. A very strong demand exists for pigs and this will be intensified as more cows come to profit. Good farm horses are in keen demand. Private sales during the week have been: In-lamb ewes, to 17s 6d; fat lambs, to 17s; in-calf heifers, to £7; weaner heifers, £2 15s to £3 ss. MORE BUSINESS PASSING SHORTAGE OF STORE SHEEP. IN-LAMB EWES IN DEMAND. The Farmers’ Co-operative Organisation Society reports another brisk week of trading and a greater volume of stock changing hands than has been the case for many months. The rise in wool has affected all classes of sheep. Store sheep are increasingly difficult to find and quotations in all cases make prospective purchasers think hard before deciding to purchase. Four and five-year-old ewes in-lamb to Southdowns are hard to .-jet. The firm has made a sale of 500 extra good five-year-old ewes with good mouths at 17s. Other 'sales have been made at from 13s 6d to 15s during the week.

Ewe hoggets are in demand and sales have been made at 13s to 14s 6d for good lines. Wether hoggets have hardened and good wether hoggets have ‘been sold at up to Ils and 11s 6d, medium sorts making from 9s to 10s. Fat ewes are hard to procure and wherever offered command competition, prices ranging from 13s 6d to 15s for good quality prime ewes with more medium sorts at Ils to*l2s. Sales of fat wethers have been made during the week at 17s and 17s 6d, but quotations at this figure are hard to get, most vendors quoting at 18s to £l.

Fat cattle are easier, numbers of vendors being unable to hold and butchers refusing to purchase other than for immediate requirements. Sales made include heifers at £4 12s 6d to £4 17s 6d, and cows at £3 15s to £4 ss, with odd lots over this money. Station cattle are in demand, and here again quotations are almost impossible to procure. The demand is mainly for good class P.A. cows in-calf and empty station bred heifers and cows. We have been successful in selling two big lines of good forward cows at from £2 5s to £2 17s, with lighter condition cows at 38s 6d to £2 2s 6d, but it is increasingly difficult to obtain the class of cattle required. Good bullocks also are harder to procure and sales made include medium lines at £4 10s.

In the dairy section there is increasing activity, with many sales made during the week. Local purchasers are beginning to fill their requirements, while outside heifer b ’.yers have been- active, and we have been able to sell quite a number of truck lots of heifers for the Waikato at prices ranging from £5 10s to £6 ss: Local purchases have accounted for numbers of heifers during the week and prices may be said to show a hardening tendency. Three herds of cows have been sold privately, prices ranging from £6 10s to £7 2s 6d for complete herds of good cows. Weaner heifers are also harder to get, and several big lines have been disposed of, two lots going to the Waikato at prices ranging from £3 to £3 ss. Numbers of vendors, however, still prefer to ‘hold for a higher price. Hold-over heifers have increased in value considerably during the past month, the best 'of them commanding from £2 to £2 10s wherever offered. The :yard sales show a falling off in the store cow section and an increase in the dairy section, large numbers having been submitted at sales during the week. At the Kakaramea sale there was a medium yarding of all classes of cattle. Sound empty heifers made £2 5s to £2 10s; sound empty cows, 30s to 38s; store cows, 30s to 425; dairy cows, £5 to £6; weaner pigs, 9s 6d to Ils. At the Opunake sale on Monday there was a large entry of cattle, including some dairy sorts. Heifers made. from £4 to £5 10s; cows from £3 10s to £6; medium weaner heifers, 38s to £2 ss; sound empty cows, 30s to 40s; fat cows and heifers, dairy sorts, £2 10s to £3 ss; store cows, 22s 6d to £2. A medium entry, including a few dairy sorts, was submitted at the Manaia sale. Dairy heifers realised £5 to £6; cows, from £4 to £5 15s; empty two-year heifers, £2 4s to £2 12s 6d; sound empty cows, 34s to £2 8s; fat cows and heifers, dairy

sorts, £2 10s to £3 7s 6d; store cows, 18s to £2. Mr. T. J. Mildenhall’s sale at Opunake was well attended and most successful, the whole herd averaging £6. The top price cow made £ll. Horses, implements, sundries, etc., sold at usual rates. The clearing sale of R. C. Wilson, Normanby, was one of the most successful sales of the. season. The whole of his select herd of 45 high-grade Jersey cows was disposed of at the satisfactory average of £7 ss. A very choice line of weaner heifers realised £3 18s, with a further line at £3 Bs. Keen competition throughout was a marked feature of the sale. The Hawera pedigree pig fair was exceptionally well attended, buyers being present from all parts of the province and Wanganui. Practically a total clearance was made. At the Hawera sale there was a particularly large entry of dairy cattle and a smaller entry of sheep, with a medium yarding of store cattle. Dairy cattle met a slightly better sale and we .were successful in quitting - the. majority of the entry. The top' price ' for' heifers was £7 ss, the better class close-up heifer making £5 10s to £6 15s. Fat ewes made Ils 6d to 14s; lambs (good), 16s 8d to 18s; medium, Ils to 13s; store ewes, Bs. Fat cattle met a dragging sale, though quality was good. . Heavy fat cows realised £4 to £4 10s; lighter, £2 5s to £3 8s; sound empty cows, 35s to 455; store cows, 21s 6d to 40s. Sound cows on the drop made £3 3s to £6 10s, depending on quality, heifers (good), £6 to £7; medium, £4 10s to £5 15s, and later and smaller sorts, £3 10s to £4. Weaner heifers (good), made £3 to £3 ss; medium, £2 to £2 10s; smaller, £1 to £1 15s. A small yarding of pigs met a ready sale, values being slightly better than those ruling-at the last sale. WOOL RATES MAINTAINED ANIMATED LONDON COMPETITION. BULK OF OFFERINGS CLEARED. By Telegraph—Press Assn.—Copyright. London, July .13. At the wool sales 9851 bales were offered, including 906 New South Wales, 872 Queensland, 1526 Victorian, 627 South Australian, 294 West Australian, and 5504 New Zealand, of which approximately 8584 were sold. Animated home and Continental competition was continued, the bulk of the offerings being cleared at full recent rates. Prices: Greasy merinos, Queensland, Navarre, top 154 d, average 14 7-8 d; Victorian, Wercona, top 20d; scoured merinos, New South Wales, Berawinnia, top 22Jd; average, 22 3-8 d; Queensland, Scatter Good Valley, top 25Jd, average South Australian, GU/H, top 234 d, average 20 l-8d; New Zealand, greasy halfbred, Glenmore, top 141 d, average 14 3-8 d; scoured merino, Braemar, top 24»d, average 23 5-Bd. AUSTRALIAN GRAIN MARKET. WHEAT POSITION FIRM. Sydney, July 14. The local wheat position is firm, bagged wheat selling at 3s Id a bushel and bulk 3s 6Ad, but there is no pressure to sell. Quotations are: —Potaoes, Tasmanian £6 to £7 10s, Victorian £6 a ton; onions, Victorian Spanish, £5 ton; flour, £lO 15s a ton; pollard and bran, £4 ton; oaten hay, £7 10s a ton; maize, yellow and white, 4s 4d a bushel. PIGS AND POULTRY. SALES AT NEW PLYMOUTH. Newton King, Ltd., report a small yarding at the New Plymouth Haymarket sale yesterday. There was keen competition and prices showed a further advance on the sales ruling last week. Realisations were:—Choice weaners, 12s 6d to 14s: others, 9s to 10s 6d; large stores in good condition, 22s 6d; lighter, 20s; slips, 16s. L. A. Nolan and Co. report a medium entry at their poultry sale to-day. Prices were: Hens, Is 9d to 3s; pullets, 2s 4d to 2s lOd; cockerels, Is lOd to 3s lOd; ducks, 2s Id to 2s lOd; bantams, 6d to Is; geese, 2s 6d to 2s 9d; turkeys, 4s 6d to 7&

HAWERA PEDIGREE PIG FAIR. RESULT VERY SATISFACTORY. The Hawera pedigree pig fair conducted by the Farmers’ Co-op. wasthe first sale of its kind held in South Taranaki, and the results were most satisfactory to all concerned. Sows, both m pig and maiden, were, in keen demand, young sows to farrow in August making up to £8 8s and young maiden sows up to 41 guineas. The top price for boars was 7 guineas, young six-month-old Tamworth’s making from-4. to 6 guineas with, . , Berkshires from .4' to 4J guineas.’"From the first fixture the results were pleasing alike to the auctioneers and to breeders, and the attendance of the farming jubhc and the keen competition showed that the sale filled a much needed want. The auctioneers were Messrs H. M. Caselberg and H. F. Wooffindin. Some of the sales made include: Tamworth sows in farrow, account W., e. Parsons, Whenuakura, to L. A. der, Tikorangi, 8 guineas, to L. A. Alexander, Tikorangi, H guineas; maiden Tamworth sows bn account same vendor, to H. J. Putt, Otakeho, 3.1 guineas,: to H. Ward, Ketemarae Road, .21 . guineas, to’L. Kavanagh, 2* guineas; maiden Tamworth sows on account F. Ogle, Normanby, to H. J. Putt, Otakeho, 4 guineas, to H. Sharpe, Matapu, 4 guineas, to H. J. Putt, Otakeho, 3s guineas; on account, of Jos. Thomlinson, Hawera, maiden Tamworth sows, to C. J. Hawken, Mokoia, 4 guineas, to C. J. Hawken, Mokota, 4 guineas, to E. J. Rogers, Otakeho, *3 guineas; account of W. P. Parsons, Whenuakura, maiden Tamworth sows, to W. E. Broderick, Maxwell, 3 guineas, to H. Ward, 3J guineas, to L. S. McDermaid, , Kaupokonui, 3 guineas, to T. Lupton, , 4 guineas, to L. S. McDermaid, 3. guineas, to H. W. Glentworth, Normanby, 4 guineas, to L. A. Alexander, Tikorangi, 3* guineas; on account of F. Ogle, Norton, Austin Road, 51 guineas, to W. E. Broderick, 5 guineas, to A. A. Piper, Lowgarth, 4 guineas; on account W. P. Parsons, Whenuakura, Tamworth ‘boars to Johnson Bros., Waverley, 5J guineas, to G. A. and P. M. McDonald, Inaha, 5J guineas, to T. Lupton, Waverley, 5 guineas, to T. J. Walsh, Manaia, 3J guineas; Berkshire sows in pig, account J. H. Burgham, Ngaere, to T. Lupton, Waverley, 6j guineas, to Jas. Livingstone, 51 guineas, to H. J. Putt, Otakeho, 6 guineas, to S. Burbitch, Okato, 31 guineas; Berkshire sow in pig, account N. C. Tregea, Auroa, to L. S. McDermaid, 6 guineas; ’ account J. H. Burgham, Ngaere, Berkshire sow in pig, to G, Luscombe, Ka- ... puni, 7 guineas, to A. Murphy, Alton, 5 guineas, to E. A. Nicholson, 5 guineas; on account J. H. Burgham, Ngaere, Berkshire sow in pig, to G. Luscombe, . Kapuni, 7 guineas, to A. Murphy, Alton, 5 guineas, to E. A. Nicholson, 5 guineas; on account, J. H. Burgham, Ngaere, Berkshire boar to J. J. Pease,/ Hawera, 41 guineas, to Lysaght, 4 guineas; on account L. F. Bell, Mokoia, Berkshire boar (unregistered), to S. Burbitcli. Okato, 61 guineas. IMPROVEMENT IN STERLING, LONDON STOCK. MARKET STEADY. British Wireless. Rugby. July 13. The marked improvement in sterling on New York, 4.77 J, compared with 4.691 . last night, is the chief feature of the. foreign exchange market. The stock market is' steady, but business is limited. War loan is £9B 3s 9d.