FINANCE AND COMMERCE

Taranaki Daily News, 21 October 1933, Page 11

FINANCE AND COMMERCE

(TARANAKI STOCK MARKET ACTIVITY IN LAMB SECTION. GOOD PRICES FOR STORES. •The. New Zealand Loan and Mercantile Agency Company Limited reports:— Fat Sheep prices remain as last week, with a weakening tendency for ewe mutton. Considerable activity has been evident in the lamb section, numbers having been sold for forward delivery at what must be considered very fair prices. As far' as can be seen, this' forward buying is mainly speculative, and it must. be evident that forward buyers have considerable faith in the future. ■The fat cattle position here remains unchanged, prices being on a par with last week. Supplies are becoming more plentiful, and butchers are only operating from hand to mouth. Forward buyers of white face lambs as lambed have been active and numbers have been sold. Quotes of ewes for forward delivery are very few, and it looks as though there is likely to be a shortage later. Several large lines have been sold at good prices, and there are numerous other inquiries. The demand for all classes of store cattle is very keen, no doubt owing to the plentitude of feed. At the Fordell sale on Thursday 1800 head of station cattle were yarded. Bidding was brisk and the whole yarding was sold at prices that were considerably in advance of previous sales. Buyers were present from all over the island, and appeared to be very anxious to fill their requirements. The demand for yearling heifers has eased, particularly for medium class cattle. Tops are still saleable at last week’s rates, but'other sorts are rather neglected. For dairy heifers the demand in South Taranaki at least has very nearly petered out. Very few good heifers are left in the district, yardings being mostly made up of from medium to poor sorts, and prices remain accordingly. As with dairy heifers, dairy cow sales are nearly finished. Very few good cows are left for sale. An excellent demand is still evident for pigs, all sorts selling really well and yardings being good. Private sales during the week have been: Yearling heifers to £3 15s, fat heifers £4, white-face mixed sex lambs to 15s, woolly fat ewes’to 18s, in-calf heifers to £5 10s, breeding ewes to 16s. At the Kakaramea sale on Monday a fair yarding came forward, and practically everything was cleared. Store cows made £1 10s to £2, yearling heifers to £3 ss, dairy heifers to £5.

MOST MARKETS STEADY LAMB PROSPECTS SOUND. FEW CHANGES IN PRICES. The Farmers’ Co-operative Organisation Society reports a quieter week of •trading, with the main activity centred on forward delivery lamb business. In this section a considerable number of sales has been made at prices varying from 16s to 18s. There is little change in any of the markets. Lamb opened on the East Coast at 9d, this being a special killing for a ship leaving almost immediately. It is understood the price is now back to Bd, but if values stabilise at that figure, or even slightly less, realisations should be very satisfactory. A few lines of ewes have been sold on a forward delivery basis also, but purchasers; are more inclined to adopt a “wait and see” attitude. Sales have been made of five-year-old ewes, however, on the basis of January delivery at 14s 6d. Two.-tooth ewes are also being quoted, and in _ most , cases the figure asked is about 255. Here again it is difficult to complete sales. Fat sheep show little or:no fluctuation, the market being reasonably steady, and although supplies have not been over plentiful the demand has been somewhat restricted. Fat cattle , also remain on a par, and numbers of sales of truck lots have’been made during the week. A line of 40 changed‘hands at £5 10s, odd truck lots Of; extra good heifers at £5 10s and £5 ss, with, other lots of fat cows at £4 15s. There is still a fair demand for. paddock cows and heifers,- but the weather is proving unsuitable, and numbers of farmers are holding Off, . while dairymen arfe sending to the yards all their unsound cows. instead of milking them on. Sheep for immediate delivery are very easy to sell, the difficulty being to get quotations. Sales during the week include a big line of wether hoggets at 17s in the wool and shorn two-tooth Wethers at 13s 9d and 14s 6d. Numbers of dairy bulls have been sold privately, pedigree yearlings making 10 to 15 guineas and grades 4 to 7 guineas, While two-year-old grades make from 5 to 7 guineas. The yards have been exceptionally well filled this week, capacity yardings being the order. At the Opunake sale there was an exceptionally heavy yarding, with every pen full. Bulls Were the chief attraction. Pedigree yearling bulls on account of Mr. J. A. Pettigrew made 91 to 14 guineas; account D. F. Greenway, pedigree 2-year-old bulls 9 to 14 guineas; account J. A. Pettigrew, pedigree yearling 13J guineas, 10 guineas; account J. A. Pettigrew, pedigree 2-year bull 16 guineas; account J. Pettigrew, pedigree yearling bull 10 guineas; account J. C. O’Rorke, pedigree Holstein 8 guineas; account J. H. Phillips, pedigree 2-year 101 guineas; account other vendors, pedigree yearling bulls 31 to 5 guineas, 2-year bulls 7 to 8 guineas. At the Manaia sale a heavy yarding came forward. Bulls met with a dragging sale, most of the aged bulls going to the works at prices ranging from £3 to £4; 2-year maiden bulls from £5 to £6; yearlings from £3 to £4. A good yarding of dairy cattle met with keen competition. Calved cows made £5 15s, £6 15s, £7 to £B, heifers £5, £5 10s to £6 15s, sound empty cows 35s to £2 ss, fat cows ex the dairy £3 to £4 2s, store cows 25s to 375.

At the Auroa sale and bull fair a medium yarding of all classes of cattle came forward. Two-year-old bulls made £5 to £6, pedigree yearlings £4 4s, dairy heifers £5 10s, £5 15S to £6 10s, two-year empty heifers £2 12s, sound empty cows 30s to 38s 6d, store cows 25s to 31s. The Stratford annual bull fair attracted a yarding of 17 yearling, 2-year-old and over pedigree Jersey bulls and 33 grade bulls. The bulls came forward in good condition, but as there was only a fair attendance of buyers the bidding was not at all spirited, and consequently the prices show a decline on those .obtained at this fixture last year. While all the yearling pedigree bulls were passed in, aged pedigree bulls were cleared at frOm 4 to 10 guineas. Young well-bred grade bulls realised from 5 to 8 guineas, and older bulls from 31 to 51 guineas. At the Eltham sale and • bull fair a fair yarding of store cattle came forward, and all was cleared at prices which show no increase above those ruling at the present time. A small yarding of dairy cattle was also offered, and as farmers are still requiring an odd one or two, a total clearance was effected in this section at a little advance in the prices. The entry of pedigree and grade bulls was good and all came forward in good condition. The bidding was not

very keen, however, and in a number of cases the prices offered did not reach the vendors’ reserve, consequently these lots were passed in. A few of the realisations of this sale are: Fat cows £2 17s 6d to W ss, sound empty cows £1 10s to £2 10s, yearling heifers £1 17s 6d to £3, yearling pedigree bulls 44 guineas to 7 guineas, yearling grade bulls 2 guineas to 31 guineas, 2-year and over grade bulls 4 guineas to 91 guineas. For the time of the year there was a surprisingly large entry of cattle and a mediu. . yarding of fat sheep at the Hawera sale. All markets were stable, with prices on a par with those ruling during the past few weeks. A much larger entry of yearling heifers came forward, including some exceptionally good catlc. These sold at slightly better rates. The dairy yarding was larger than expected, and here again values for good cattle showed a hardening tendency. The majority of the offering, however, comprised only medium cattle. Store cattle and pigs sold at late rates. A large offering of bulls came forward, but competition for grown bulls was very limited, the only sustained inquiry being for maiden two-year-olds and yearlings, of which the entire offering was quitted. Other bulls were practically unsaleable. Shorn fat ewes (extra good) made 15s 6d to 16s 6d, woolly fat ewes 16s to 17s, fat hoggets 17s 6d, 18s to 21s, store hoggets (woolly) 17s. The quality of the fat cattle ' yarding was only medium, with very few really prime cattle offering. Prime fat heifers (extra good) made £5 15s, fat cows (good medium) £4 5s to £4 16s, others £3 5s to £3 12s 6d. Grade yearling heifers (good) £3 to £3 7s 6d, medium £2 10s to £2 15s, hold-over and inferior 30s to £2 ss, weaner heifers (extra good pedigrees) £4 15s, £4 16s to £5, store cows 25s to 355. Pedigree yearling bulls 10, 12, 124 to 15 guineas, grade yearlings £4 to £5, maiden 2-year bulls £4 15s to £7, aged bulls £3 10s to £4 10s, extra good dairy heifers on the drop £6 10s to £8 ss, medium £4 10s to £5 ss, poor and inferior £2 10s to £3 ss.

SEASONAL REQUIREMENTS STORES IN GOOD DEMAND. BETTER MARKET FOR PIGS. Newton King Ltd.’s stock market report reviewing the week’s activities states: — The diversion of attention to classes appropriate to the season is now apparent throughout the district, and business for the most part is confined to the store sheep and cattle sections. Quotations in both branches are, however, far from sufficient to satisfy the inquiry, and as a consequence prices are somewhat in advance of those earlier anticipated. When due consideration is given to the low levels ruling for beef it is surprising to find store-and station cattle meeting such a ready market at prices out of relation to the finished article, and it seems Obvious that the scarcity of wellbred cattle is having a governing effect on prices. The most notable feature is the high level at which yearlings and two-year steers are selling, compared with prices for jolder cattle, and buyers’ operations suggest that their judgment is based on the hope that the beef market will soon regain a level.

On the other hand the optimism that is noticeable in operations in the store sheep section is justified, firstly through .the sustained elevation of wool values and secondly by the much improved rate in the opening schedule for lambs. Works buyers are now busy on lines of lambs suitable for killing, and eightpence is being offered for those available to catch immediate shipments. The duration of operation at this figure is, however, doubtful, but the firmness of the overseas markets suggests that little alteration should take effect until at least the first drafts • are handled. Further encouragement for speculation in this branch is offered in the unusual firmness of the mutton market for this period of the year, and the scarcity of quotations suggests that a steady market is likely to prevail for some time. Sheep off the shears are now being marketed in larger numbers, fat wethers being saleable at up to 20s, while ewes realise from 14s 6d to 16s. Sales of truck lots of woolly sheep have been effected during the week at from 23s to 24s for wethers, and 17s 6d to 19s Gd for ewes. Extensive trading with lambs on a forward delivery basis has been done since the last ■ report, one line of a 1000 white-faced lambs changing hands at 15s, while other large lines of black-faced sorts have been sold at from 14s Gd to 16s. Ewes and lambs are freely sought, but now that the works schedule has been announced many holders have advanced quotations that prohibit changing. The sale has been made of a line of 4 and 5-year ewes and lambs at 30s. Other sales in this section include a line of 300 sixtooth store wethers in the wool at 20s, small shorn ewe hoggets at 17s 6d and small shorn wether hoggets at 13s 6d. The buoyant tone in the store cattle section can be guaged from the results of back-country sales, where representative yardings have been submitted. All classes of station-bred cattle have met with a strong demand at prices decidedly in favour of vendors. Some guide as to the figures ruling can be gathered from the results of the Awakino sale on Saturday last, when a strong bench of buyers from all parts of the district was in attendance. Competition was keen from the outset and practically a total clearance was made. Grown bullocks (somewhat rough and mixed in colour) made £3 14s to £3 14s 6d, 2-year Polled Angus steers £3 14s, 2-year Shoidhorn and Hereford steers £3 ss, 2-year empty Polled Angus heifers £2 17s to £3 Is, 2-year empty Shorthorn and Polled Angus heifers £2 15s to £2 19s 6d, 2-year Shorthorn heifers £2 19s, yearling Polled Angus and Shorthorn steers £2 14s to £2 14S 6d, small £2 to £2 Is, small mixed-sex yearlings £1 15s to £1 17s 6d, empty Polled Angus and Hereford cows £3 Is to £3 9s, empty Shorthorn cows £2 16s to £2 18s, mixed coloured sorts £2 10s to .£2 12s’ 6d, cows and calves £3 6s, light fat cows £3 10s to £3 17s 6d, 2-year empty Jersey heifers £2 17s. ' Values at the fortnightly sales, where oddments and reject cows constitute the offerings, show an easing tendency, young cows suitable for fattening being the only class that retains its popularity. Yearling Jersey heifers and other classes suitable for next season’s dairy requirements have lost favour and some difficulty is now experienced in quitting at values in keeping with vendors’ ideas, especially poorer bred cattle. At the moment best yearlings are worth from £3 7s 6d to £3 15s, good cattle suitable for later mating £2 15s to £3 2s 6d, crossbred cattle of quality £2 7s 6d to £2 12s, good hold-over heifers to £2 2s 6d, average £1 10s to £1 15s, inferior 15s to 255, 2-year empty jersey heifers £2 5s to £2 15s, lesser quality £1 10s to £1 15s, sound empty cows £1 7s 6d to £1 15s. No change has occurred in prices for boners. , Values in the dairy cattle section are much lower than is usual at this period, and little hope of early improvement is now held. Fortunately most of the holdings have been handled, and only oddments are left to' be disposed of. Good quality heifers close to profit sell at from £5 10s to £6, average cattle £4 7s 6d to £5, inferior £3 10s to £4, good young dairy cows £6 10s, others £2 10s to £4. The Urenui sale on Monday drew a good entry in all departments and a satisfactory clearance was effected. Good fat ewes made 18s Id to 18s 3d, plainer sheep 15s 6d, good quality yearling Jer-

sey heifers £3 16s,’ average sorts £2 16s 6d to £3, smaller cattle of quality £2 12s to £2 14s, good quality hold-over heifers £2, inferior 25s to 265. A good yarding of beef came forward and met with a spirited sale at prices a little in advance of those ruling at the previous sale in Urenui. Prime fat Shorthorn cow,s and heifers made from £5 8s to £5 17s, light Jersey cows £2 13s to £2 15s, paddock cows £1 15s to £1 18s, sound empty cows £1 17s to £2, meaty works cows £1 Us to £1 15s, boners £1 to £1 7s, 2-year empty Jersey heifers £2 7s 6d to £2 10s, average quality springing heifers £4 15s to £5 ss, smaller cattle of lesser quality £3 10s to £4 2s 6d, inferior £2 5s to £3. The Stratford sale on Tuesday drew an average yarding in all departments. Fat cows, dairy sorts and young paddock cows met with a ready sale, values in other departments being on a par with late rates. Fat cows (good Jersey sorts) made £3 18s 6d to £4, lighter £2 17s 6d, young Jersey reject cows £1 9s to £1 Ils, boners 18s to 225, paddock cows £1 15s to £2, good quality empty Jersey heifers £3 ss, average quality yearling Jersey heifers £2 15s to £3, good quality young dairy cows £5 5s to £5 10s, others £3 10s to £4 15s, good quality springing heifers £6 10s, medium £4 15s to. £5 ss, calved heifers £4 to £5. A supplementary bull fair was held on Wednesday at Inglewood in conjunction with the fortnightly sale. Yearling pedigree Jersey bulls received strong support, cattle from tested dams selling at from 10 to 104 guineas and others 4i to 7J guineas. Two-year-olds made 9i to 121 guineas. Grade bulls were keenly sought to a point, two-year-olds selling at from £3 15s to £4 5s and yearlings £1 15s to £3 10s according to quality. Fat and forward ewes made 13s 9d, S°°d quality yearling Jersey heifers (small) £2 6s, hold-over heifers £1 16s to £1 18s, good quality 2-year empty Jersey heifers £2 18s, others £1 Ils to £2 6s, 2-year Friesian steers £2 10s, fat cows (Jersey sorts) £3 9s to £3 17s, light and unfinished £2 Ils to £3 Is, young Jersey cows £1 7s 6d to £1 12s 6d, good paddock cows £2 to £2 4s, meaty works cows £1 10s to £1 15s, boners 20s to 265,. good quality springing Jersey heifers £5 5s to £5 15s, average sorts £4 5s to £4 15s, small £3, dairy cows £3 10s to £4 15s.- . _ The Rahotu sale and bull fair was held on Thursday, the entry of bulls including a number of good quality yearlings which met quite a good sale. Two-year-olds were also in fair demand, but the prices recorded were short of those obtained at earlier fixtures. Choice yearlings made to 14 guineas, others 6 to guineas, best two-year-olds 10 to 12 guineas, others 8 guineas, grade - yearlings of size £4 to £5 10s, small £2 10s to £3 7s 6d, good two-year-olds £7 to £9, others £3 10s to £5, Works hulls £2 5s to £4, good quality springing Jersey heifers £5 12s 6d to £5 15s, small and inferior £3 to £4 ss, good quality yearling Jersey heifers (a little small) £2 17s 6d, holdover heifers £1 15s, light fat cows £3 to £3 19s, unfinished £2 9S to £2 12s, twoyear empty heifers £1 15s, works cows £1 to £1 10s. . The recent advance in the export schedule for pork was further reflected at the various pig centres during the week. The New Plymouth Haymarket sale yesterday drew a capacity yarding and one of the brightest sales that has been held at New Plymouth for some months resulted. Large stores and light porkers were , very keenly Competed for and values for these, together with slips, showed some appreciation on late rates, a total clearance being effected under the hammer. Light baconers made £2 2s, porkers £1 14s, unfinished £1 9s to £1 10s, large-framed stores in forward condition £1 8s to £1 10s 6d, smaller sorts £1 7s, Slips 23s 6d. to 245, choice weaners 19s to 21s 6d, average sorts 16s 6d to 17s 6d, small 14s 6d.

BRADFORD TOPS MARKET.

COMPARISON OF PRICES.

By '■ Telegraph—Press Assn.—Copyright. London, Oct.' 19.

The Bradford tops market is firm. Following are to-day’s quotations and those for the three previous weeks:—

The Times’ Bradford correspondent says that greater activity in merino tops has strengthened the situation. Other important factors include the possibility of an ultimate wool shortage and greater activity in the spinning and manufacturing sections, indicating the maintenance of a demand for finished fabrics. Manufacturers report that business for the spring is developing well. N.Z. PAPER MILLS DIVIDEND. By Telegraph—Press Association. Dunedin, Last Night. The directors of New Zealand Paper Mills have authorised payment of an interim dividend of 3 per cent. GOOD SALE FOR POULTRY. . PRICES AT NEW PLYMOUTH. L. A. Nolan and Co. report a good clearance at the poultry sale yesterday, prices ranging as follows: Hens, Is 8d to 3s; pullets, 2s 3d to 3s Id; cockerels, 2s 7d to 4s 9d; ducks, Is 6d to 2s; chickens, 6d to Is 6d; chick pullets, lOd to Is; hens and chickens, 2s to 10S 6d; ducks and ducklings, 7s to 12s; bantams, 6d to Is. NEW PLYMOUTH EGG PRICES. The wholesale prices of eggs at New Plymouth this week, with last weeks prices in parentheses, were as follows: First grade hen eggs, lid to llld (lid to second grade, lOd (lOd); mixed, lOd to IOJd (lOd to 10Jd); duck eggs, 9d to lOd (9jd to lOd).

Sept. Oct. Oct. Oct. 28. 5. 12. 10. Per lb. Per lb. Per lb. Per lb d. d. d. d. Seventies . ... 35 35 35 35 Sixty-fours .. 33} 33 33 33} ... 32 31} 31} 31} Fifty-sixes ... 22} 22} 22} 22} ... 15} 15} 15} 15} Forty-sixes .. Hi 111 11} 111 Forties ..;. ... 10} . 10} 10} 10}