FINANCE AND COMMERCE

Taranaki Daily News, 29 January 1934, Page 8

FINANCE AND COMMERCE

PRICES AT TE KUITI. KEEN COMPETITION FOR SHEEP. Te Kuiti, Jan. 26. Dalgety and Company Limited, Te Kuiti report having held the usual fortnightly sale at the Te Kuiti yards today. A good yarding of sheep came forward and sold under keen competition at late rates. Many good lines of lambs were again penned, and the whole yarding of sheep was sold under the hammer. Cattle were penned in average numbers and these also sold readily. About 1500 two and four-tooth wethers were yarded, 1100 of which were sold at the good price of 21s 3d, while a very nice line of 314 fat and forward four-tooth wethers, on account of Mr. W. H. Blundell, of Rangitoto, made 24s Id. Values were: Fat and forward foun-tooth wethers, 24s Id; good two and four-tooth wethers, store conditioned, 19s 9d, 21s, 21s 3d; sound mouth breeding ewes, 16s 6d, 17s, 18s; fat black-faced lambs, medium, 17s, 5d to 19s Id; good forward conditioned lambs, 14s 9d to 16s; well-grown shorn wether lambs, 14s 6d to 15s sd; medium, 12s 6d to 14s; medium mixed sex lambs, 14s 6d to 15s 6d; medium, smaller, Ils 6d to 13s 6d; cull lambs, 7s 6d to 10s 6d; fat cows, £3 to £4 Is; fresh conditioned cows, £llos to £2 ss; boner cows, £1 to 30s; good four-year Shorthorn bullocks, forward conditioned, £4 8s to £4 15s; three-year Hereford steers, medium, £3 12s 6d to £3 18s; rough Jersey bullocks, £3; medium two-year Hereford steers, £2 9s; good three-year Polled Angus heifers, £4, medium yearling Polled Angus heifers, £2; potter bulls, £3 10s to £6 ss. Abraham and Williams, Limited, report that at Te Kuiti to-day the entry comprised 4942 sheep and 221 head of cattle. There, was a large attendance, and a steady demand prevailed for all classes of sheep and store cattle. Fat wethers advanced in price and other classes sold on a par with recent sales. Values were: Fat ewes, 14s to 15s 6d; fat lambs, 16s 9d to 21s; fat and forward black-faced lambs, 15s to 16s lOd; wether lambs, 12s 6d to 15s sd; ewe lambs, 14s lid to 19s 6d; mixed sex lambs, 13s to 16s 9d; blackfaced lambs, 12s to 14s Hd; small lambs, 8s 5d to 12s; cull lambs, 6s 6d; two-tooth wethers, 16s 9d to 21s; two-tooth ewes, 24s lOd to 29s 8d; aged ewes, Ils 6d to 15s 6d; two-year Hereford heifers, £3 10s; 18-month Polled Angus heifers, £2 18s; 18-month Polled Angus steers, £3 10s to £3 18s; cows and calves, £2 to £4 4s; store cows, 19s to 365; yearling heifers, £1 7s to £1 15s; weaner heifers, 11s; springing, heifers, 31s to £2. GOOD SALE AT FEILDING. CLEARANCE OF BIG YARDING. Feilding, Jan. 26. With a yarding of well over 30,000 largely breeding ewes, prices at to-day’s sale shojved a slight easing compared with the very high rates last, week, but an excellent sale resulted. The opening offerings indicated that vendors had higher set values than farmers were prepared to pay, consequently there were some passings, but vendors very soon decided to meet the market and the sale proceeded with practically a total clearance. There was a very large number of buyers present, operating freely right to the close of the sale. Two special trains unloaded ewes for the sale and the railway service was also very extensively used to take purchases away. Today’s increase in the export prices for lambs helped to stimulate the market and all lambs were sold. Store cattle: A medium yarding with a good sale and a total clearance at good prices, especially for run cattle. Dairy cattle: Small offering, with prices slightly better. The following is the range of prices:— Store sheep: Woolly lambs, good, 14s

2d to 15s; fair, 12s 9d to 13s 6d; light, 9s 6d; shorn lambs,' 13s lid to 14s; w.f. lambs, woolly, good, 15s 9d; fair, 12s 2d to 13s; shorn, 9s 4d; w.f. wether lambs, 12s to 12s 8d; ewe lambs, good, 18s -4d; fair, 15s Id; light, 12s Id; b.f. lambs, 10s 2d to 14s Id; for short best woolly b.f. to 16s sd; b.f. two-tooths, 17s 8d; wethers, 19s 4d to 19s 7d; cull ewes, 9s; f.m. ewes, 14s; breeding ewes, two-tooths, very good, 30s 6d; good, 28s 3d to 28s 6d; fouryear, 245; four, five-year, best, 18s 4d to 18s 9d; others, 17s 6d to 17s lOd; fiveyear, very good, 18s 3d; good, 17s 6d to 17s lOd; others, from 14s 6d. Store cattle: Mixed bullocks, £3 to £3 15s; P.A. bullocks, £4 4s to £4 ss; P.A. steers, £2 10s to £3 8s; light ditto, 325; Hereford steers, £2 17s 6d to £4 7s; Shorthorn steers, £2 15s; P.A. heifers, £2 8s; cows and calves, £2 18s to £3 17s 6d; run cows, £3 10s; heifers, £3 6s; potter bulls, heavy, £4 2s to £5 2s; good, £3 2s to £3 12s; light, from 275. Dairy stock: Cows, guaranteed sound, £4 Is; cows in milk, 30s to £2 7s 6d; second calver, £4 10s; springing heifers, £2 17s 6d to £3 7s 6d; empty heifers, to £3 10s; weaner heifers, 21s 6d to 31s. PRICES AT OKAU SHEEP FAIR. FIFTY PER CENT INCREASE. The first back-country sheep fair for the season was held on Friday at Okau by the Farmers’ Co-op. About 3000 sheep came forward in excellent condition, and with buyers from both in and outside the district operating freely there was a total clearance under the hammer. Prices were: Shorn ewe lambs 17s 7d to 19s Id, shorn wether lambs 15s Id to 18s, shorn m.s. lambs 15s to 15s 7d, 5-year ewes 17s 6d to 18s Bd,. 5 and 6-year ewes 16s 6d to 17s 6d, store wethers 21s to 235, fat wethers 245. Individual prices for lambs were: On account W. H. Blanchard, shorn ewe lambs 18s 7d, shorn wether lambs 14s lid; on account T. Hayward, shorn ewe lambs 17s 7d, shorn wether lambs 15s 7d; on account Mrs. L. Anderson, shorn ewe lambs 19s Id, shorn wether lambs 15s 8d; on account W. H. Moyes, shorn wether lambs 18s; on account W. D. Cannell, shorn m.s. lambs, 15 2s; on account J. J. O’Donnell, shorn m.s. lambs 16s 7d; on account H. A. Bower, shorn m.s. lambs 15s. SHORTAGE OF WOOL. YORKSHIRE BEING KEPT BUSY. In its report of the London wool sales of November 21 to December 8 last, dated London, December 8, Dalgety and Co., Ltd., states that 113,631 bales, including 48,483 of New Zealand, were offered, of which 108,300 bales were sold. The Continent took about 58,100 bales and the Home trade 50,200 bales, America being practically out of the market. About 19,500 bales of New Zealand and 1500 bales of Australian were held over, making a total of 21,000 bales, but of these 18,000 were not offered. Crossbreds in the grease, especially the fine ones, were not available in any large quantity, the greater proportion of the offerings being slipes. At the opening of the sales it quoted fine greasy crossbreds 20 per cent, higher than last sales’ closing rates, medium greasy crossbreds 20 per cent, to 25 per cent, higher, and the coarse ones 15 per cent, to 20 per cent, higher. These advances were not maintained throughout the sales, but at the close there is really not much difference to make in the percentage appreciation. Perhaps greasy medium crossbreds are not quite as good, and it only calls these now 20 per cent. up. Slipes started at 10 per cent, to 15 per cent, advance, fine ones showing the highest rise. It now calls them 15 per cent, to 20 per cent, dearer. Scoured crossbreds sold very well, and are 15 per cent, up. Any lots with 50’s quality in them were particularly in demand, and realised substantial prices. Greasy halfbreds sold up to 17}d and scoured quar-ter-bred combing from New Zealand made 27d. Slipe super halfbred lambs reached 22d. The vicissitudes of the wool market are strongly exemplified when a comparison is made between prices to-day and those ruling at this time last year. Take one or two examples of Bradford tops. On December 8, 1932, 64’s warp were quoted at 23d and average 64’s at 22Jd. To-day’s prices are 36d and 35d. Then turn to crossbreds —46’s average last year were 9}d; to-day the quotation is 13Jd. The rise in the market can perhaps be more easily appreciated when we take the actual prices of wool in Australia realised at the public sales. In the month of November, 1932, greasy wool average 8.53 d per lb and £ll 3s 3d per bale in Australian currency. For the month of November this year the averages were 15.92 d per lb and £2O 4s ltd per bale. The level now reached must once more make wool growing a payable proposition, at any rate for the producers of fine wools. After the recent lean years it could only hope that these prices

would continue and it certainly looks as if they should, when the shortage of the Australian and South African clips, to say nothing of those of New Zealand and Argentine is considered. New Zealand growers will still find plenty of room for improvement in the prices of medium and low crossbreds, and as the level for the finer wools rises we should expect to see the lower grades also improving. A very satisfactory feature of to-day as regards the Home trade is that machinery continues to be well employed. In fact, it is reported that most of the trade unions in the wool textile industry advise an insufficiency of operatives available for employment, and it is said that there is an actual insufficiency of weavers and menders in several Yorkshire towns. This is an extraordinary state of affairs, but it serves to show how busy the wool trade is. DANGER OF EXCESSES. AUSTRALIAN WOOL VIEWPOINT. 1 “A dangerous excessive scale of values appears to be the only contingency which might eventually disturb the wool situation,” states the latest wool summary of Winchcombe, Carson, Limited, Australia. “Wool has been consumed in increased . quantities during the past six months. .The stocks of Merinos and the finer crossbreds in millmen’s hands and carry-over quantities in the various selling centres were smaller when this season opened than for a number of years. With that position, the reduced clip available, and the good volume ,of trade in goods recorded, the sale of the remainder of the clip looks assured at highly satisfactory prices.. “From time to time the statement has been made that business in woollen goods is suffering owing to task of export sales. England has shown some expansion in foreign business, but most other countries have not done so. Similar conditions have existed for some years, but, in spite of the circumstances, the great bulk of the record clips the world grew passed into consumption. The various countries have been manufacturing the major portion of their own requirements. Tariffs, import restrictions and rates of exchange have protected their mills from the competition of imports. The continued presence of those restrictions is not more likely to prevent the free use of wool this year than in previous periods. On that account, therefore, no menace to the wool market exists.”