FINANCE AND COMMERCE

Taranaki Daily News, 27 January 1934, Page 11

FINANCE AND COMMERCE

INTEREST CENTRED IN SHEEP STEADY VOLUME OF BUSINESS. GREATER THAN FOR THREE YEARS.

The Farmers’ Co-operative Organisation Society of New Zealand - Ltd. reports that interest remains centred on the sheep section and a steady volume of business continues to be transacted, far in -/excess of that at this time of the year for • the past three ■ seasons. Values remain more or less steady and there are no changes in the schedule for fat lambs, 7d being the price offered for first quality fat lambs. ■ The majority of business is taking place in the lamb section, and although the dairy farmer is beginning to buy - in earnest, large numbers still maintain that prices are too high for them. With values in outside centres -apparently appreciating,- it is questionable whether values in the lamb .section ■ will fluctuate materially, and more depends on the prices offered/by. the works. ... , Some interest is evident in regard to breeding ewes . and . a few lines have changed hands during the week at. prices showing an appreciable rise on previous quotations. Exceptionally good hill country five -year. ewes, have been sold at 18s and 4-year ewes at 19s 6d to £l. Other lines changed hands’ during the week at prices ranging from 16s to 17s for five-year ewes arid 17s to 18s 6d for four-year ewes. Twb-tooths are. enquired for but quotations are difficult to o.b- -' tain. Sales 'of small lots "have been effected, as . high at 30s being-paid, and good medium two tooths have been sold at 20s 6d to 28s. A good enquiry exists for hold-over two-tooth ewes, but it is too early for this class of sheep to come forward in any number and odd sales only have been put through at prices ranging from 17s to 20s. There is still an enquiry for twotooth wethers but they are most difficult to procure and .wherever offered command attention, at prices ranging from 17s 6d to-20s. Three lines of wethers were sold during the week, two lots at 18s 6d and one lot of really good sheep at 19s 6d. Good woolly b.f. lambs and ewe lambs command the greatest attention in the lambs section, and sales include good woolly b.f. lambs at 14s 6d to 16s and ewe lambs at 19s, a line of 600 good woolly ewe lambs having changed hands. Other smaller lots have been sold at prices ranging from 15s to 19s 3d, depending - on - size and quality. Wfi wether - lambs well grown .. and m good condition, are selling well, .but there has been a slight easing m this section, fatteners preferring to buy Southdown lambs when offering. Good w.f. wether lambs in the wool have been sold at, 15s, and shorn at from 12s 6d to 14s 6d, depending on size and condition. . Little change is reported in either the fat sheep or ./cattle .markets. Both markets are steady; the fat sheep section showing a hardening tendency. Butchers requirements have to be filled at 14s to 15s for good fat ewes and 23s to 24s for wethers. Sales of fat.cattle include: Fat bullocks, £6 to £6 12s 6; cows, £4 to £4 15s; good heifers, £5. ■' An enquiry exists for station cattle, but quotations in Taranaki are negligible, and purchasers do not seem inclined, to pay the prices asked for in outside centres. The enquiry is mainly for forward empty cows or heifers, but all classes of cattle would be purchased if quotations, were attractive. The works price for boners and bulls has increased slightly, and better prices have ruled at all auction sales during the week, to which exceptionally large numbers or cattle have come, forward considering the time of year-. Prices in the dairy section are nominal with business more or less at a standstill. Large entries of pigs have come forward ■ to sales and prices have hardened slightly on. those i being paid a fortnight ago. Here again for the time of year more sales than usual are being made. . At the Opunake sale a big yarding of store cattle came forward for auction. Bidding was keen throughout and a good sale resulted. Quotations were: Fat cows, £2 6s, £2 7s to £2 12s; store cows, £1 ss, £1 12s 6d to £1 18s; store bulls, £3, £4, £4 12s to £5 4s; weaner pigs, Bs, 10s bd to 12s. At Kakaramea sale there was a capacity yarding of store cattle. A keen sale ensued resulting in a total clearance at satisfactory prices. ,?°y s dairy realised £2l6s, £3l6s to £4 ss, paddock cows £>l 15s, £1 18s, £2 to £2 12s 6d, cows with calves at foot £1 5s to £1 14s store cows £1 4s, £1 10s to £2, store bulls £3 10s, £3 12s to £5 6s. The Manaia sale drew a capacity yarding of fat and store cattle, every pen being well filled. A large yardmg of sheep, consisting mostly of store lambs, was submitted for auction. A feature of the sale 'was the big number of good conditioned cattle which came forward. These met ready competition from a large number, of . buyers. Prices were. Fat wethers, 22s lOd; fat 2-tooth ewes, 18s- b.f.' woolly lambs, 14s 6d; w.f. wether, lambs, 13s and 13s 7d; shorn b.f. lambs, 11s 4d; fat cows, £2 10, £2 175,. £3, £3 10s to £4 Is; paddock cows, £2, £2’lo to £3; store cows, 30s to £2 2s. A. large yarding of bulls met an animated sale, values ranging from £3 ss, £4, £5 8s to £5 17s. A capacity yarding of pigs met a ready market, porkers realising30s 6d to 32s 6d, stores 10s to 21s, and weaners 9s to 13s. • About 750 sheep were yarded at the Eltham sale. The entry comprised mostly store and cull lambs, and bidding was very keen, Except' for a -line of ewes, everything was sold at very satisfactory prices. A line , of good b.f. store lambs was quitted at 17s Id, smaller lots filing at 13s Id, 15s 3d, 16s and 16s 6d. Bidding was .especially keen for a line of 100 cull lambs off back country, which sold at 11s 7d, smaller lots of cull lambs selling at 7s to Ils 2d. A small -line of HUS. woolly hoggets realised 26s Id. About 200 5-year ewes were yarded but the demand for this class was not so good, only a few being sold in small lots at 14s. A moderate entry of store cattle and bulls sold at late rates. A good yarding came forward at Urenui, comprising mostly store cattle, which sold well. A medium yardmg of fat cattle also came forward and met with keen competition, a total clearance resulting. Fat ewes reabsed 15s 2d, fat cows £3 10s to £4 12s 6d, lighter sorts to £3 ss, store cows current rates, bulls £3, £3 5s to £4. At Hawera sale there was a record yarding of well over 5000 sheep, .practically a total clearance being effected at prices which must be considered satisfactory. The market held and values recorded were on a par with those of a fortnight ago, excepting in the case or medium wether lambs, which eased m price to the extent of about Is on the last sale. However, vendors in most cases were meeting the market and o the total yarding only 423 were left uneold Interest centred m the yarding o f fat lambs, approximately 750 conpng undfer the hammer, this being the larges number the firm had ever yarded. A sale resulted, the top price being 22s for a small pen on account of Mr? McGuiness. A pen on account of Mr W Seed made 21s 3d, Stevenson Estate’s big draft 19s Bd, a pen on account T. Wilson 19s, a pen on account of the racing club 19s and the Geary Estate lambs 18s 6d. The top price m the store lamb section was recorded for 1 fine fine of shorn- w.f. wether lambs from Mr. T. Tarrant, which sold at 16s 7d, Really good shorn wether Ihmbs on

account of other vendors made from 13s to 14s 9d. In the Southdown section the Beard Estate topped the market with shorn b.f. lambs at 14s lOd, other vendors obtaining from 13s lOd to 14s for good shorn lambs and 14s to 15s 6d for good woolly black faces. Another large offering of ewe lambs came forward, Dr. Buist topping the section with a particularly good line of shorn lambs at 17s 8d and another pen at 15s 6d, Mr. A. G. Robertson’s line making 15s 7d and lines on account of other vendors 10s to 16s. The first offering of ■ two-tooth ewes came forward this season, 118 good medium bush sheep being offered and being sold at 28s 3d. A few odd twotooths were yarded and sold at 18s 2d and 19s Id. A small pen of two-tooth wethers, small medium sheep, made 16s. fat ewes realised 14s 9d, 15s to 15s Id. An exceptionally heavy yarding of pigs saw prices again showing a hardening tendency, and a good sale resulted. A medium yarding of store cattle met a ready sale, prices showing a hardening tendency. Bulls also sold well.

TARANAKI STOCK MARKET ADVANCE IN FREEZING RATES. ANIMATED COMPETITION. ’ Newton King Limited reports: “Ideal growing conditions prevail throughout the .district, and it is many years since the fields have ■ had a - more flourishing appearance at this period. Stock in general are in great heart, and although the majority of changing is confined to the store sheep' section, the plentifulness of ; feed should undoubtedly encourage trade : in other branches with those who are j less optimistic concerning the purchase of sheep at to-day’s levels. ,An appre--1 ciable feature of the activities affecting the store sheep section' is the recent advance t<J 7id in the works schedule for lamb, while the freezing rate for ewes and wethers is also firm with an .advancing tendency, and these together with the sustained buoyancy of the wool market occasion little hesitancy in buy- ■ ers’ operations under the hammer, and animated scenes are the order at all fixtures. The interest displayed in the purchase of ewes surpasses all earlier ex- - pectations, and with' the limits expressed by some buyers it will occasion little surprise if the intentions of many fail to materialise, as present indications point to better values ruling as the series of fairs advances. Heavy yardings of sheep are being submitted in our sale centres, but as yet lambs have constituted the bulk of the entries, keen competition being available for aU classes, and realisations; during the week have been well up ..to .late rates. Ewes are coming forward in fair numbers and the keenness to secure Has resulted in realisations showing an’advance on those earlier anticipated, this fact being most noticeable in respect to the aged classes, but the improved rates for fats with hopes of a still better schedule ruling, is accountable for this improvement to some degree, while the fact that the demand for genuine 4 and 5-year ewes is in excess of the supplyoccasioning many intending buyers of this age ewe having to satisfy their requirements from the better-mouth sorts of the aged class, has also assisted the market. Extensive changing continues through the medium of private treaty, and eaph week brings higher levels. Outside this department, however, little business: of consequence can be reported through this -medium. Sales since our last report include 1500 5-year ewes 18s, 1000 5-year ewes 16s 6d, 400 4-year ewes 20s, 200 6-year ewes 17s 6d, 220 2-tooth ewes. 32s fid, 400 shorn Romney, wether lambs 14s, 200 blackfaced lambs 15s, 800 cull Romney lambs tries at our fortnightly sales in the cattle section consist of the usual oddments, works buyers accounting for all other than that suitable for local consumption, a slight improvement m realisations for boner and meaty cows being noticeable during the week. “Values in the beef section show little variation on late rates. Young cows and heifers continue to be most popular, prime cattle selfing at up to £5, lighter £4 5s to £4 10s, young Jersey-cross sorts £3 10s to £4. • . . , • “Mutton values show a distinct hardening tendency. Supplies of wethers are much scarcer than has been noticeable at this period for some years, while ewes are not offering in sufficient numbers to suggest any receding in values. Works buyers are operating freely on both classes, wethers being worth from 22s to 235, ewes 14s to 14s 6d. Values for local consumption were a little in advance of these figures. ' “Although it is somewhat early to expect trade of any magnitude with incalf heifers, we are pleased to be able to report the sale of a line of approximately 200 for June delivery to a northern buyer at a figure which should allow a reasonable margin of profit even at the low figures that are expected to rule for this class. Many quotations are now to hand and most holders have taken an appreciable -view of the situation of the dairy market and have quoted accordingly, most sellers being- prepared to quote for May or June delivery. “gales since our last report include the Inglewood sheep fair, where an average yarding of ewes and lambs came forward. Ewes were in very good demand while lambs were also keenly sought to a point and practically a total clearance under the. hammer was effected. Realisations were: Fat wethers 22s Bd, small ewe lambs 14s to 14s sd, small mixed-sex lambs 12s 4d to 13s 2d, culls 10s 6d to 10s 7d, fat lambs 20s 5d to 20s 6d, 4 and 5-year-old ewes 20s, 2-tooth ewes 26s 6d, m.a. ewes 19s, good sound-mouth ewes 16s Id to 17s 7d, older sheep 13s to 14s lid, culls 7s 9d. This sale included a good entry of weaner Friesian steers and heifers, the quality and breeding of which was good, and realisatiorte were in. keeping with vendors’ ideas. Steers sold at from 17s to 20s, while heifers made to. 20s 6d, weaner Jersey heifers of average quality selling at from 21s to 23s 6d, fight fat Jersey heifers £3 7s 6d, killable Jersey cows £2 14s, boners 22s to 30s, works bulls £2 to £3 16s, average quality Jersey heifers at the drop £3 5s to £3 10s.

“At Stratford sale the yardings were small, a total clearance being effected under the hammer. A few fat lambs were entered and these excited keen competition from the butchers, and another pen of small m.s. lambs passed into dairying hands at 11s 9d. Quotations were: Fat lambs 18s 7d, 21s 6d, m.s. lambs 11s' 9d, works cows (poor) £1 6s, £1 7s, good £1 12s, £1 13s 6d, butchers’ cows £2 13s, £2 16s, Jersey weaner heifers £l, works bulls (light) £2, £2 15s, medium £3 Bs, £3 17s 6d, heavy £4, £4 10s. “Urenui sale on Monday drew an average yarding, fat Jersey cows making to £3 10s, lighter unfinished £2 12s, meaty cows £1 16s to £2, boners £1 2s to £1 7s, works bulls £2 3s to £4, good weaner pigs 13s, others 8s 6d to 9s. “Rahotu sale on Thursday drew an average yarding, a total clearance being effected under the hammer, a feature of the sale being the improvement shown in boner and meaty cows. Realisations were: Fat Jersey cross cows £3 13s to £3 16s, light and unfinished £2 15s to £3, meaty works cows £1 15s to £2, boners £1 4s fid to £1 10s, Jersey cross heifers r.w.b. £3 to £3 6s, weaner Jersey heifers £1 to £1 4s, works bulls £2 15s to £5 ss, average ewe lambs 17s Bd, small 13s 9d to 14s Id, slip pigs 15s to 16s, weaners 12s. .. .

“A drop of one farthing per lb. in the freezing schedule for porkers has had a receding effect on realisations for weaner and slip pigs. The schedule for baconers has, however, advanced a farthing, and values for large stores hold their ground. The New Plymouth hay-

market sale yesterday drew a capacity yarding, the entry totalling some 220 pigs of all classes. Weaners and slips were dull of sale, but good competition was in evidence for the balance of the entry, a total clearance being effected under the hammer. Realisations were: Light baconers 37s to 38s, good porkers 34s _6d to 35s 6d, lighter sorts 29s to 30s, bigframed stores in good condition 28s, fight porkers 25s to 25s 6d, slips 18s 6d to 22s 6d, choice weaners 14s 6d to 17s, average 12s to 13s, small and lesser-done Ils.”

FAT SHEEP IN KEEN DEMAND VALUE§ FOR ALL SORTS FIRM. MANY MORE LAMBS YET WANTED. The New Zealand Loan and Mercantile Agency Company reports that values for all classes of fat sheep have hardened, prices being very firm at last week’s rates. The works are still working practically full boards but as is usual at this time of the year, quantities are slowly declining. Last week’s fat cattle rates are being maintained with a slow demand. Still a very keen demand exists for all classes of female store sheep and values are steadily rising. The first of the fairs is to be held this week and it is estimated that values will continue very firm. Sales of large numbers of store and forward . wethers are reported at very satisfactory figures. Quotations of good store and forward / wethers are badly needed and in most cases a quick sale will result. An unsatisfied demand for lambs is evident, and in spite of the thousands that have been sold privately, arid other thousands sold in the yards, many more are wanted. The margin between fats and stores is not great, and some farmers are selling their fats in the yards and are meeting with a strong market. There is practically no demand for weaner heifers so far, and speculation is keen as to what the opening prices will be. There is a large number of weaners in the province and most of them are of good quality, and fairly well grown, and iff other years would easily realise £2 10s to £3. However, it is not thought these prices will be paid this year. No sales of dairy heifers have yet been made, it being too earlj' - in the season. Quotes have been given for good cattle as low as £3 10s, but no business has resulted. At this price there is not much in it .for the grower.

A good steady demand exists for practically all sorts of pigs. Private sales during the week have been: Forward 2 and 4-tooth wethers, 18s to 20s; store lambs, Ils to 13s 6d; fat ewes, to 15s; fat wethers, to 235.