FINANCE AND COMMERCE

Taranaki Daily News, 2 December 1933, Page 11

FINANCE AND COMMERCE

TARANAKI STOCK MARKETS REMARKABLE BUSINESS DONE. BRIGHTER PROSPECTS FOR SHEEP. The Farmers’ Co-op. Organisation Society of New Zealand Ltd. reports that considering the time of year, which is considered- one of the quietest in the stock, business, a remarkable amount of business has been transacted. The most important event has been the Auckland wool sale, the results of which were eagerly awaited throughout the Dominion, and realisations were considerably better than anticipated. It must be remembered, however, with all November sales that the wool is shorn very early and consequently is very free of grease and better yielding than wool coming from the heavier conditioned sheep shorn later in the season. Although it is possible that values may fluctuate from sale to sale, there is no doubt that the average will be infinitely higher than last year. It is.evident that with the prices offering for fat stock and the enhanced value of wool the sheep farmer at any rate can look forward to a brighter new year. Rumours have been active during the week regarding the price of lamb, but it is apparent from outside information that the price in Taranaki is higher than in any other centre. It is expected that from Monday onwards, however, the price offered for fat lambs will recede, and that it is to be 6Jd, but we have as yet no authoritative information to hand. The market report in regard to butter and cheese is not so good,' the latest quotations being: Butter 73s to 74. Cheese 49s white, 47s coloured. Interest at this time of year centres in sheep, and a number of sales of two tooth ewes , and wethers has been made and a few sales of ewes with lambs at' foot have also been negotiated. The sale of a big line of five-year-old ewes for February delivery has been made at I4s 6d, and a large number of fat sheep has been disposed of during the week- Values for fat ewes have held remarkably well, and although the works price is supposed to be about 9s, butchers have still had to pay from 12s to 14s for their supplies, the ewes from which the first drafts of lambs were taken not being quite ready as yet for butchers’ requirements. A' few trucks of fat wethers have been sold, prices still being from £1 to £1 Is for good sheep. Fat bullocks are very difficult to -sell. The warm weather has directed butchers’ attention to the heifer and lighter cow, and it is difficult to interest them in prime heavy bullocks at present The outlook for beef is shrouded in mystery and no very reliable information is able to be obtained regarding future developments. Entries at all yard sales during the week have been good, and in nearly every - case ■ have doubled corresponding entries at last year’s fixtures. Several buyers have- turned their attention to saleyard cows, and meaty cows from the dairy command a figure in excess of works schedule Store cattle are in demand, but prices in outside centres seem to be higher than those ruling in Taranaki and supplies obtainable in the province are limited. A few sales in this section have: been completed, including a line of forward empty cows at £3 and heifers at £2 10s, £2 15s and £3 ss. The sale of a, good line of store bullocks was com-, pleted ’at £4 ss. . Sales cf in-calf cows and springing heifers are negligible and . the demand: for Weaners. is still only nominal, very little business of any moment being; transacted.- A slackening has been evi-. dent in the prices offered for store pigs.: Quotations are: Fat cows, £4, £4 10s to; £5; bullocks, £5 15s,- £6 to £6 2s 6d; fat; heifers, £4 10s, £4 15s to £5. Fat sheep (all quotations relate to shorn sheep): Fat wethers, 20s to, 20s 6d to £1 Is; fat ewes, 12s, 13s 9d to 14s; fat hoggets, 18s 6s, 19s to 21s 9d. Store sheep: Two-tooth ewes (fair) immediate delivery, 21s 6d to 225; good, 23 9s (February delivery); 2tooth wethers, 16s 6d, 17s to 18s 6d; 6tooth wethers 17s, 17s 6d to 18s; 4 and 5 year ewes (February delivery), 14s to 14s 6d; 6-tooth ewes (February dedelivery), 235. At Kakaramea ’ sale a medium yarding of cattle came forward. Paddock cows (good), realised £2 12s, medium 31s, 35s to 575, store cows 25s to 235, works bulls £3 to £3 10s.

An exceptionally good yarding of cattle and a few pens of sheep came forward for action at Manaia. Pigs, met a “sticky” sale and prices were in buyers’ favour. Weaners realised 12s 6d to 14s, yearling heifers r.w.b. £2 14s, fat cattle, good £5 to £5 10s, others £2 10s, £2 15s to £3; paddock cows, good, £1 18s, £2 to £2 3s, medium 32s to 345, store cows 275, 29s to 30s, works bulls £4 10s, £5 to £5 ss. . : At the Opunake fixture on November 27 a .very good yarding of store cows and bulls and a number of very forward cows were included in the offering. Dairy heifers realised £4 5s to £4 15s, hold-over heifers £2, paddock cows £2 Is to £2 6s, fat cattle £3 17s 6d to £4 2s 6d, store cattle 235, 30s to 38s, sound bulls £4 5s to £5, works bulls £2 5s to £3 15s to £4 ss. At'the Eltham sale on November, 29 there was a medium yarding of store cattle. The bidding was keen at fat lines of stock and a total clearance was effected. The prices realised for works cattle were on a par with those obtained at recent yard sales. Tire bidding was keen on fat lines of cattle, and a total clearance was effected. Better class works cows made up to 33s 6d, and fat cattle realised from £3 to £4 10s. There was an exceptionally large yarding of cattle at Hawera, every pen being filled. The yarding reflected the good conditions under which the cattle have been depasturing, and a large portion of. the offering was tot or very forward. In consequence, fat cattle were difficult to sell, and bullocks were all passed at auction. Good store cows were wanted for the paddock, and these made good prices. An offering of about 20 horses came forwaid, the majority of which were disposed of at auction, £35 to £4O being paid for good heavy horses, £4 to £5 for hacks, £l5 to ,£25 for useful farm horses and £4 to £6 for ponies. Dairy cattle were difficult to sell. In the sheep section the yarding was confined to fat hoggets and lambs, which met a ready market. Fat hoggets realised 17s to 21s 6d, fat lambs 19s to 21s, fat cows £3 to £4 15s, good paddock cows £2 to £2 10s, good store cows 30s to 355, boners 15s to 22s 6d. Many works bulls were offered, making from £2 10s to £4 ss. FAT SHEEP PRICES STEADY REDUCTION IN LAMB SCHEDULE. LOAN AND MERCANTILE REPORT. The New Zealand Loan and Mercantile Agency Company Limited market report states: — Prices for all classes of fat sheep remain on a par with last week, and from outside advices received this applies to other centres also. A reduction in the lamb schedule by the works operating is likely to take place very shortly, as

advices from London do not warrant the present schedule being paid. The class of lambs being sent in to the works at present is very good, and in most cases growers are getting rid of their first drafts earlier than last year. A fair inquiry exists for good well finished cattle, but only in small lots. Prices have not receded very much, and it looks as though values will hold at least untiL after Christmas.

A very good inquiry is evident for all classes of store sheep but vendors’ re • serves are mainly too high to permit of much business being done. The recent rise in wool values will in all probability tend to further harden vendors’ ideas of value, and this fact will cause buyers to act very cautiously. There is a good demand for good young empty cows from the dairies, but only up to a certain price. This demand is caused by the great flush of grass on many farms, and cannot continue for any length of time. No demand is being made for yearling heifers, and it appears that vendors will have to wait until after the New Year before any inquiry is likely. Meantime feed is plentiful, and the heifers as a rule are thriving remarkably well. The demand for dairy heifers and cows has ceased, and practically no business is passing. A very good demand is in force for pigs, particularly for good, well-bred weaners, which are selling at very nearly up to store price. Good close-up sows are in good demand and are realising from £4 to £5, according to quality. As is usual at this time of the year very little inquiry is being made for farm horse?, except an odd demand for oldish sorts to be used as spare parts on the farm. This class of animal is selling very well. SHEEP PRICES REMAIN FIRM RISE IN BACON SCHEDULE. LAMB TRADE OPERATIONS. Newton King Limited’s stock market report states:— The exceptional rise in wool values recorded at the Auckland sale this week has been the main topic of conversation in the stock world since. Sheep farmers have every reason to feel gratified, for expectations were greatly exceeded. Taranaki growers now eagerly await the results of realisations at the first wool sale at Wanganui on January 19, and judging by the healthy tone in the wool trade reported from all parts of the world it is anticipated that Auckland values will be maintained. As yet there is no evidence of a hardening in sheep prices as a result of the Improved wool values, for trading during this week has been on a par with last week’s rates. The only likelihood of an appreciation can come through an improvement in the export schedule for lamb and mutton, and at present there is no evidence of this. However, sound trading at present values will result in a very remunerative season's operations to sheep fanners. The volume of private selling, has been' less during the week owing to limited supplies, sales being recorded of 2-tooth .wethers at 16s 9d and 17s 6d, 2-tooth ewes 235, 4-tooth ewes (January delivery) 22s 6d, and m.s. whitefaced lambs (January, delivery) 14s 6d. Freezing companies are now operating extensively on lamb at 7d a lb on hook or hoof and for prime wethers (of which supplies are not plentiful) at 18s to 20s. The firm has fulfilled, butchers’ requirements in truck lots of ewes at 15s, 15s 6d and 16s, heavy prime wethers 20s to 20s, 6d, prime hoggets (woolly) 18s 9d to 20s and 22s 6d.

Considering that harvesting operations are now in full swing the offerings at the main auction centres have been much Jarger than usual at thia time of the year. Cull cows from dairy herds have been l plentiful during the week and •young and : forward-conditioned sorts have appreciated considerably in values as . a result of animated competition amongst graziers. This is accounted for through the dearth of station-bred cattle usually available. Freezing companies have therefore been fully extended in limits for boner classes.

The weakening and general uncertain state of the dairy produce market is responsible for the lack of confidence displayed in the dairy heifer trade. At the Inglewood sale the offering totalled 150 head of this class, and although a fair proportion was sold, prices appeared to be in buyers’ favour. Supplies of dairy cattle close to and at profit are negligible and what sales are effected are of little account.

The fat cattle market remains on a par with last week. All auction offerings, principally of lightweight cows from dairy herds, have sold relatively better than heavy-weight station-bred cows and heifers by private treaty, resulting from the keenness of auction competition for good-coloured and forward-conditioned sorts. The firm has effected sales in truck lots of Hereford and Polled Angus cows and heifers at £4 15s, £5 and £5 ss. At the Waverley sale light fat ewes (shorn) lls 6d,. medium to heavy Hereford and Polled. Angus fat heifers £4 15s to £5, forward-conditioned Polled Angus cows £3 10s, yearling Polled Angus heifers £2 ss.

At Kaponga light fat cows made £3 to £3 15s, forward-conditioned cows £2 5s to £2 15s, heavy boners £1 12s to £1 19s, store cows £1 10s to £1 15s, heavy boner cows £1 7s 6d to £1 15s.

At Urenui small yearling Jersey heifers (good colours) made £2 2s, light fat cows £3 4s to £3 12s, killable Jersey cows showing age £2 15s to £3, forward-condi-tioned cows £2 to £2 12s 6d, young store cows from 30s to 37s 6d, medium to heavy boners from £1 10s to £1 15s, light 20s upwards, dairy cows £4 to £5 15s. At the Stratford sale light fat heifers (prime) made £4 2s, light fat cows £3 to £3 10s, very forward cows and heifers £2 15s to £3, store and forward, cows from £1 15s to £2 7s 6d, medium works cows £1 7s to £1 9s, heavy up to £1 15s, yearling Jersey heifers (of which the holdover variety comprised the offering) from £1 12s, £1 14s up to £2 ss. A pen of 15month pedigree Jerseys made £4 Is. Dairy bulls were in good demand, yearling pedigrees making up to seven and a half guineas, two-year-olds, small, five and a half guineas and yearling grade Jersey bulls up to £4. Works bulls sold at from 30s to £4 7s 6d according to weight. Ewes with 150 per cent, lambs made 37 s. Two hundred and fifty cattle were yarded at Inglewood, of which 125 were yearlings and 15-months Jersey, heifers. Of the latter class there were no outstanding lines. Best-quality 15-month Jersey heifers made £3 to £3 6s 6d, medium heifers for size and quality £2 10s, £2 7s 6d,‘ £2 6s, £2 4s, fairly wellgrown heifers (mixed in colour) £1 15s to £2, hold-over Jersey heifers £1 5s to £1 15s according to quality, rising two-year Jersey and Jersey cross heifers r.w.b.. £1 15s to £2 9s. A particularly large offering of store, forward and boner cows was secured mostly by graziers under keen competition. Forward Shorthorn and B. and W. cows made £3 ss, £3 down v> £2 5s for lighter sorts, young store cows £1 10s to £2 5s according to colour, heavy works cows £1 15s to £2 ss, lighter from 20s upwards, dairy bulls from £3 15s to £5 ss. In the dairy section 25 head were disposed of as follows: Good quality Jersey heifers close to and at profit £5 ss, £5 2s 6d, £5 dotrn to £3 10s for smaller sorts, dairy cows from £3 to £5 10s. At the Rahotu sale prime fat Jersey cows made £4 ss, light fat cows £3 17s 6d down to £3 ss, forward cows and heifers from £2 to ~2 15s, cows with young calves £2 10s, heavy works cows £1 15s to £2 2s, medium from £1 5s to £1 12s 6d,

medium 15-month Jersey heifers £2 6s, well-grown 15-month heifers (mixed colours) £2 2s 6d, works bulls from £2 15s to £4, dairy heifers in milk up to £4 ss. An advance of one farthing is reported in the bacon companies’ schedule for pork, and ..as a result business for all classes of pigs remains keen. At the New Plymouth Maymarket yesterday 160 pigs were penned and there was a large proportion of light and medium porkers which all sold up to bacon companies’ schedule and in some cases in advance of it. The penning of weaners and slips was smaller than usual and the quality not quite up to last week’s standard, but prices taken on the whole were fully maintained. Extra choice weaners made 20s, 19s 6d down to 18s 6d.- Good weaners 16s to 17s 6d, medium 14s to 15s 6d, small Us to 13s, extra-good slips 21s to 235, medium slips 18s to 20s, small stores 22s to 265, light porkers 28s to 325, medium porkers up to 34s 6d, sows in farrow £3 ss, £3, £2 15s. BRADFORD WOOL MARKET. MERINO TOPS CHECKED. London, Nov. 30. The Bradford advance for Merino tops has been checked. Fine and medium crossbreds are firm. Following are today’s quotations and those Jor the three previous weeks:— Nov. 9 Nov. 16 Nov. 23 Nov. 30 Per lb. Per lb. Per lb. Per lb.

At the London wool sales 10,013 bales were offered, including 4941 from New Zealand. There was brisk home and Continental competition. All finer growths realised full rates, but there were frequent withdrawals of inferior softs. New Zealand scoured Merinos, Otipua, made 30£d top, 28Jd average; lamb slipe, 22d top and 17d average. SYDNEY PRODUCE PRICES. By Telegraph—Press Assn.—Copyright. Sydney, Dec. 1. The wheat market is firm. Country rates are: Bagged 2s Id bushel, bulk 2s, equal to about 2s 8d ex trucks Sydney. Other prices are: Flour, £9 ton; bran, £4 10s ton; pollard, £5 ton; potatoes, Tasmanian £7 to £8 ton, Victorian to £4, others £7; onions, Victorian Spanish £3 10s to £4 ton; oaten hay, £7 10s ton; maize, 3s 8d to 3s 9d bushel. LOAN AND MERCANTILE CO, PROFIT ON YEAR’S WORKING. London, Nov. 30. The New Zealand Loan and Mercantile Agency Company after the transfer of £50,000 from reserve, has a profit balance of £76,573, in addition to £18,551 brought forward. Interest debentures absorb £68,000, and £27,125 is brought forward. SEEDS MARKET PROSPECTS REDUCED YIELD EXPECTED. EFFECT OF EXPORTS OF RYE. By Telegraph—Press Association. Christchurch, Last Night. Interest in the grain and produce trade centres chiefly in the prospects of the incoming crop. There is a general agreement that the yield of all seeds and cereals will show a reduction. Ryegrass and cocksfoot especially come within this prospect, notably the former, as fodder has been so scarce that few farmers have been ifi a position to close' more than a small proportion of their paddocks for seed. An important influence on the prospects of next , year’s supply is that about 1000 tons of ryegrass have been exported this season, and the new crop will arrive on very bare boards. It is expected that cocksfoot also "will be a much smaller crop, but there has been no export of this seed. There is still a small quantity of ryegrass being shipped, but there is not now much seed in farmers’ hands. Prices remain at 2s. 6d. to 2s. 9d. a bushel on trucks for good quality; Cocksfoot is unaltered in price, being worth to 6-Jd. a lb. for Akaroa and 5Jd. for plains on trucks., ’ • There has been a little business in chaff at £3 10s. a ton f.0.b., s.i., but beyond this there is practically no business. In oats products A Gartons are quoted at 2s. 4d. to 2s. sd. f.0.b., Lyttelton. New season’s oats will be in early this year as the crops are commencing to change colour on some of the light land in midCanterbury. Merchants are disinclined to speculate in forward business in potatoes, although prices are tempting in that direction. The uncertainty of the North Island demand and the favourable season so far in Canterbury are acting as a deterrent. Prices mentioned so far range from £2 to £2 ss. on trucks for the main crop. EGGS AND POULTRY SALES. PRICES AT NEW PLYMOUTH. Wholesale prices for eggs at New Plymouth this week, with those for last week shown in parentheses, were: First grade hen eggs, lOd to lid (lOd to lid); second grade, 9d to 9Jd (9d to 9Jd); mixed, 9Jd to 10id (9id to lOJd); duck eggs, 8d to 9Ad (8d to 9d). , Messrs. L. A. Nolan and Company report a medium entry in their poultry sale to-day. Prices ranged as follow: Hens Is 4d to 2s, pullets 2s id to 2s 7d, cockerels Is 3d to Is 9d, small 7d to Is, ducks Is 4d to Is 6d, ducklings 7d to Is 9d, chickens lid to 3d, bantams lOd to Is Id, geese 3s 3d.

d. d. d. d. Seventies .... 27 38 38J 38 Sixty-fours .. 36 37 37 1 37 Sixties ...... . • 33 34 35 34J Fifty-sixes ... 24 24J 25J 25J 17 17J 18J 184 Forty-sixes .. 124 12i 13 13 Forties 10b 11 1U Hi