FINANCE AND COMMERCE

Taranaki Daily News, 10 February 1934, Page 11

FINANCE AND COMMERCE

TARANAKI STOCK MARKET STATION CATTLE INQUIRY, LITTLE CHANGE IN PRICES. The Farmers’ Co-operative Organisation Society Ltd. reports:— Taranaki is being favoured with splendid rain which should help to keep production normal and will be welcomed by fanners throughout the province. There is little ohange to report in any of the markets over the week. Steady trading in sheep continues, but attention is being turned to breeding ewes, and the hulk of sales made at present are in this section. Fairs have started in earnest, and satisfactory prices are being experienced at all back country fairs, where total clearances are the order. Large offerings continue to come forward to all saleyards, and it is apparent from the prices realised that there is little or no difference in the values ruling for sheep in Taranaki, Waikato, Hawke’s Bay or Wanganui, quotations from all these centres being more or less on a par. This state of affairs is not a common one,, one district usually being more favoured by weather conditions than another and differences in the price level being evident. There seems to be a tendency for two-tooth ewes to remain steady, with perhaps a slight easing tendency. Ewes of all other ages have a slight hardening tendency, and prices this week show an appreciation on last week’s rates. Works prices remain steady with lamb showing a hardening tendency and sheej* both ewes and wethers, easing , a little. However, very little mutton seems to be offering, and butchers’ requirements are being filled at considerably over fat price. Fat evr~ sold during week u include lines at 16s, 16s 6d and 17s, fat wethers (good) 24s and 255. , , Values for fat cattle also show a plight hardening tendency, with greater, interest being taken in ox beef. It m evident that a demand will set in, thereby enhancing values for holders of cow and heifer beef. Station cattle are beginning to be inquired for actively but there are no quotations and cattle of any description seem hard to obtain. Sales made m this section during the week include forward empty cows at £3 7s 6d and a line of rising three-year steers at £3 lbs. Store cattle from the dairies continue to come forward in very large numbers to all saleyards, the works bemg very active at present buying all classes of There is little move in the dairy markets, and although large numbers of farmers are holding calves, it is hard to gauge what value to put on them. Where offered in saleyards good cattle have been making about 255, and most vendors are holding in the hope of better things. , Y Sales made privately during the week include 1000 2-tooth ewes at SOs nett, 400 at 30s, 520 at 30s, 260 at 29s 6d, 200 at 27s 6d, 300 holdover 2-tooths at 21s, 250 at 22s 6d, 180 4-tooth maiden c res at 29s 6d, 220 at 28s 6d, 360 4-year ewes at • 22s 6d and 200 at 21s. A number of lines of 5-year ewes have changed hands at prices ranging from 18s 6d to 20s 6d. There has been a keener inquii. during the week for rams, reports of successful fairs in other centres no doubt inducing purchasers to opera 1 - . Coed Romney rams have been sold during the week at from seven to eight guineas and Southdowns at from five to six guineas. One of the first sheep fairs of the season was held at Mangamingi on Friday last, week, when approximately 3000 mixed sheep were yarded. Ideal conditions prevailed and there was a reprersentative attendance of'buyers from all parts of the province. ' AU the sheep canio forward in splendid condition and bidding was keen and animated to all sections, prices obtained being well above the standard of yard and private ' sales. There were about 400. ewe lambs yarded, and this class of sheep met very keen competition. Two-tooth and 4 and 5-year ewes were also readily sought after, and cull lambs met a keen demand from dairy farmers. Genuine 4 <and 5-year ewes on account of Mr. H. J. Lodge reached the very satisfactory price of £l, 127 ’5-year ewes on account of Mr. Hardwick Smith realised 18s lOd, 152 m.a. ewes on account of Mr. M. Granville 17s sd, smaller lines of m.a. .ewes making 18s 7d, 17s 5d and 16s 3d, 4-year ewes on account of Mr. J. Hamilton 18s 7d, 2-tooth ewes on account of Mr. P. R. Brown be-

ing bid for freely and making 26s 2d. A pen of 51 very good ewes on account the <same vendor sold at 20s 4d, Other lines of ewe lambs realised 17s Id, wether lambs 14s 2d, b.f. m.s. store lambs 13s ■ 3d, 14s lOd to 15s 6d, m.s. cull lambs 10s Id, Ils, 12s to 12s 6d and store wethers 18s 9d.

An exceptionally heavy, yarding of all classes of cattle came to the Opunake sale, with small yarding of sheep and a medium entry 01 pigs. Store cattle showed an easing tendency, works buying strictly to schedule, while fat cows from the dairy met keen competition. Dairy cows in milk realised 22 15s, £3 to £3 10s, fat cows ex dairy £3 16s, £4 4s to £4 12s, store cows 235, 28s to 355, lambs 13s, 13s 8d to 14s 9d, weaner pigs 10s to 13s, stores 15s-to 18s.' At the Urenui sale a good yarding of all classes of cattle came forward, and met with keen competition, resulting in a total clearance under the hammer. A few fat ewes were also yarded and sold well. A small pen of m.s. lambs realised a satisfactory price. Four and

5-year ewes made 18s, m.s. lambs 16s 4d i. to 16s 9d, cull lambs 8s 6d to 9s lOd. Fat “wf bullocks realised £6 2s, forward bullocks f £4 10s, fat cows £3 17s 6d to £4 9s, others to £3 15s. and bulls £3 10s to £4 17s 6d. At the Manaia sale a medium yarding of sheep and cattle came forward. "Twotooth wethers (fat) realised 23s to 23s 6d, cull lambs (exceptionally good) 24s 2d, others 10s 3d, fat cows £3 to £4, store cows 235, 28s to 30s. Bulls showed an easing tendency, prices ranging from £2 7s 6d to £3 15s. Stores made',lBs to 21s ■ and weaners 12s to 13s. A good yarding of store and rape lambs was submitted at the Eltham sale and realised satisfactory prices. Really good b.f. lambs (shorn) made 14s 7d to 15s Bd, good w.f. wether lambs (shorn) 13s 6d to 14s 7d, medium Ils 6d to 12s 6d, culls 9s to 10s 6d. A small entry of cattle sold at late rates. Owing to the bad weather, a number of lines did not come forward to the Hawera sale. However, 4300 sheep were offered and a complete clearance was efd/ fected. The sale of lambs was about on ’"'A, a par with previous quotations, but ewes met a slightly dragging sale at auction. AU were sold before they left the yards. Numbers of fat lambs were yarded and met a ready sale, no extra prime lambs being yarded. Realisations were 20s 6d, 20s 2d, 19s 3d, 19s, 18s 9d. Of good woolly b-f. lambs there was a good entry and a better class of lamb came forward. A line of approximately 600 changed hands at 16s Bd, others making- 16s 3d, 16s Id, 15s lOd and 15s, and medium and smaller 13s 6d and 13s. Shorn b.f. lambs (good) made 15s Bd, 15s 6d, 15s, good medium 14s, 13s 6d, w.f. wether lambs (medium, shorn) 13s, 12s 6d, 12s. Ewe lambs (medium woolly) 13s Bd, others 12s gd to 14s 3d, fat ewes 16s 9d, 16s 3d, 16s, < ' 15s Bd, 15s 6d and 15s, fat hoggets 22s 2d, 20s 3d and 20s, fat wethers 245, 23s and \ 225. In a large entry of breeding ewes ’< only one or two lines of genuine- back country sheep - were included. These sold Well. Messrs. Larcom Bros, topped the sale with their annual draft of five-year

ewes, these making 21s Id. A line of bush sheep on account Mr. J. G. Douglas realised 19s 7d, Mr. J. C. Best’s annual draft 18s 6d, the Beard Estate annual draft 18s, with smaller lots of sixyear -ewes making 15s 6d to 17s. Fiveyear ewes (good) made 18s 6d to 21s, medium 17s 6d to 18s, lower conditioned and older 15s to 16s 6d, fattening ewes 10s 6d to 14s 6d. A smaller entry of cattle came forward owing to the inclement weather and sold well t late rates. Fat cows made £4 10s, £5, £5 5s to £6, store cows 30s to 355,' boners 17s 6d to 255, bulls £2 15s to £4 15s. A smaller entry of pigs sold well.

PRICES STILL HARDENING KEEN DEMAND FOR SHEEP. BETTER OUTLOOK FOR BEEF. New Zealand Loan and Mercantile Agency Company Limited reports:— Prices for all classes of fat sheep are still good, and considerable business is being done in all sections. Butchers are finding it difficult to secure their supplies of ewe and wether mutton, as not only are there lesser numbers available this season, but prices are hardening all the time. Lambs are still being sent to the works in good numbers, and most graziers report good clearances. Feed is abundant and all classes of fattening sheep are thriving remarkably well. There are signs of better times in store for holders of fat cattle, as the market shows a hardening tendency. .Chilled beef shipments appear to be turning out well in England, and this fact is bound to reflect upon the New Zealand market

All classes of store sheep are selling very readily. Most of the yardings in South Taranaki are largely composed of store lambs, for which there is a ready market Wethers and fattening ewes, are scarce, and there are not many big lines available. Mostly small lots are yarded and these also are eagerly competed for.

Sheep fairs are now in full swing, and good prices are being paid for practically anything that will breed a lamb. A keen demand exists for 2 and 4-tooth ewes, and up to 30s nett has been paid for two-tooths lately. Breeding ewes are also being sold privately, a feature of this week’s operations being the sale of 1830 at a satisfactory figure. Several smaller lots have also changed hands during the week. As yet no demand exists for weaner heifers. No inquiries have been received from other districts. Probable buyers are evidently waiting until a standard is set by the marked calf sales. Very little business has yet . been done in* the - dairy heifer section, and inquiries from outside Taranaki are not coming to hand. Certainly it is early in the season for any volume of business to be done, but reports from northern districts go to show that large numbers are also being held there. Prices for all classes of pigs are keeping up remarkably well. ■ R is usual for prices to slump a little at this season, but this year is an exception, and the demand is unabated. Prices at the various sales have been: Hawera: A good yarding of all classcfr of stock and a good demand. Shorn b.f. lambs 13s 2d to 13s Bd, wff. wether lambs 12s 9d to 14s, wff. ewe lambs 14s 7d, medium quality ?-tooth ewes 17s to 255, store cows 30s to £2, fat cows £3 3s to £5 4s, bulls £2 10s to £4 10s. Kakaramea: A capacity yarding with good demand, and everything sold at the hammer; Store cows 35s to £2 10s, forward cows £2 10s to £3, fat cows to £3 10s, bulls £2 10s to £5 6s.

Hurleyville fair: A fair yarding with fair competition. Store lambs to Ils, 6-tooth ewes to 21s, fat lambs 21s 6d, Ryeland rams £5 ss, to £5 15s 6d. . •

BUOYANCY MAI NTAIN ED SUCCESS OF SHEEP FAIRS. SLIGHT EASING IN LAMBS. Newton King Limited’s stock market report -for the week states:— : Under the influence of the spell, of good growing weather over' a period of some weeks, pastures ‘display a springlike appearance, while root crops are advancing much' more rapidly than is usual at this period, and many express the opinion that the results of their preparation for autumn feed will be absorbed by way of increased stocking. There therefore seems little likelihood of the purchasing range of farmers being hindered to any degree by way of feed limitations until the autumn is well advanced. This feature should undoubtedly assist the stock market to sustain the buoyancy that it at present enjoys in sections appropriate to the season, and should also encourage trade to the early autumn.

As' is customary at this period the sheep section monopolises trade, but with values so high many of the less optimistic regarding the future continue to deliberate as to the advisability of purchasing at to-day’s levels, and with such an abundance of feed it would occasion little surprise to find many satisfying their requirements with classes that are less popular with the majority. Business for the most part during the week has been confined to that conducted under the hammer, sheep fairs taking pride of place, and some large yardings have been disposed of. In practically all centres complete clearances can be reported. Breeding ewes are at present most .popular, genuine 4 and 5-year-old sheep meeting an exceptionally strong demand, while younger ewes also meet good competition but are not so keenly sought as would be expected, although high figures are obtained where good sheep are submitted. Lambs have been yarded in good numbers at all fairs, but though the freezing schedule is firm at 7£d, buyers show some timidity and values for lambs suitable for rape feeding are somewhat below those ruling earlier, but at the same time are consistent with the price offering for the finished article; in fact any receding’ in the schedule would leave little remuneration to graziers. On the other hand wethers are offering in limited numbers, and prices ruling for these leave little margin of profit on the freezing price at present available. The general opinion is, however, that this class will come into its own at no distant date, and to-day’s values are undoubtedly governed by supply and demand, with the hope that the seeming shortage will result in an early advance in export schedule. It is pleasing to note that all branches of the fat sheep section are firm, supplies available being just sufficient to meet local requirements. Wethers are worth from 23s 6d to 24s 6d, while ewes sell at from 15s to 16s 6d. The beef market is also firm and hopes are expressed of an early appreciation in values. Sales for butchers’ requirements have been effected at the following prices: Extra prime Polled Angus and Hereford heifers to £6, prime young cows £4 15s to £5 ss, lighter £4 ss, young cows from dairy herds £3 10s to £4 ss. The following details of the sheep fairs held since the last report clearly show that values for all classes, ewes especially, have been well up to the standard set at the opening fair. At Awakino on Friday 4000 sheep came forward, the fixture being well patronised

by buyers from Taranaki and the King Country, and with the exception of the lamb section, which was a little dull of sale, keen competition was the order. One of the outstanding features 'of the sale was an entry from the Onatai Station of 350 extra good 2-tooth ewes, which realised 30s 8d to 31s Id, and 110 maiden 4-tooths, which changed hands at 30s 7d. Other 2-tooths realised 26s 9d down to 23s 4d. Four-year-old ewes met strong competition, realising 245, 23s 3d, 21s Id, 19s 6d, 18s 7d. Values for five-year ewes ranged from 16s to 18s 7d, while th- best of the sound-mouth sheep made to 15s, with the lower-conditioned sorts at 12s. Two-tooth wethers were yarded in average numbers and met a keen demand at 22s 3d, 21s 6d, 21s and 20s Bd, while the poorer-conditioned sheep made from 18s to 19s 6d. In the lamb section good conditioned shorn wethers made to 14s 6d, medium 12s Id to 13s Id, medium shorn ewe lambs 15s Id to 14r 6d, small 11s 9d to 13s, small to medium mixed-sex woolly lambs 9s to Ils 6d, culls 6s to Bs, two-shear Southdown rams 4gns and one-shear Romney rams 6 to Bgns. At Okau sale approximately 5000 sheep were yarded, ewes again meeting with strong support and realisations being on a par with those ruling at Awakino. The lamb section included some good .rape feeding sorts, which sold at from 15s 5d to 16s lOd. Early shorn medium to good wether lambs made 15s, medium sheep 13s Id to 13s lOd down to Ils 6d, medium woolly wether lambs 14s to 13s 2d, medium late shorn ewe lambs 14s lOd, small 10s 9d to 10s sd, culls 7s to 9s 7d. Perhaps the most successful fixture of the North Taranaki series was that at Uruti on Tuesday when 4600 sheep changed hands, the total entry being cleared under the hammer. Four and five-year ewes were again the most popular and prices were well up to the standard of those established at the earlier fairs, the top price, of the day being 24s 6d for a line of 350 offered on behalf of Messrs. McEldowney Bros., a small line of good four-tooth ewes realising 31s Bd, while a pen of good-qual-ity 2-tooth ewes but a little small changed hands at 27s 2d. An average entry of wethers was included in the offering, the best-conditioned sorts selling at from 22s 6d to 235, average 20s to 21s lOd and small 18s 8d to 19s 9d. The lamb entry included some good lines of whitefaced shorn wether lambs, but competition was inclined to drag and prices fell a little short of vendors’ expectations. Woolly rape lambs made 18s 9d, goodconditioned white-faced wether lambs 14s 3d to 14s Bd, average 12s 4d to 13s 10d, small 10s to 10s Bd, culls 7s to 9s, medium Romney ewe lambs 16s 2d to 16s 7d, small 12s 2d to 14s 6d, culls 9s 2d to Ils 6d, small mixed-sex lambs 12s 9d to 13s, culls tfs. • The Central Taranaki series was opened at Kohuratahi on Wednesday, when a record entry for the centre of 7000 sheep came forward. There was a large attendance and the sale was marked by a particularly good clearance, every line of ewes changing hands. There were, however, a few passings in the lamb section, .but the greater percentage of the yarding, in this department changed hands by private treaty. The yarding of ewes left little to be desired and met strong competition. TwO-tootlis made from 28s to 29s 6d, best four and fiveyear ewes 22s 4d to 24s lOd, sheep of similar age displaying slightly less condition 19s 6d to 21s 6d, five and six-year ewes 15s to 18s, full and failing mouth sheep Ils to 13s. Lambs showed an easing tendency on late sales. Shorn Romney ewe lambs, a little small made 15s 6d to 16s, mixed-sex Romm ■ lambs 13s 6d to. 14s Bd, shorn' wether lambs 12s to 13s,' medium Ils 3d to Ils lOd, culls 9s to 10s 6d, store wethers 19s 6d to 21s Bd. At Ohura on Thursday 3500 sheep were yarded, a total clearance being effected. Generally the condition of the sheep Was hardly up to that at the Kohuratahi fair, and prices suffered a little as a result, but a satisfactory clearance was effected. Four-year ewes made- 21s to 22s 9d, good five-year ewes 22s 6d, others 18s 6d, five-year ewes light-conditioned 15s 6d to 17s 9d, aged ewes 12s 6d to 13s lOd, two-tooth ewes 27s Id to 30s 3d, hold-over two-tooth ewes 21s to 24s 6d, two-tooth wethers 20s 10d to 225, woolly - Romney lambs 18s 4d, .woolly Romney wether lambs 16s 9d, shorn ewe lambs, Romney, 15s 6d to 16s Bd, medium shorn Romney ewe lambs 13s 4d to 14s 3d, shorn wether lambs, good-condition-ed 15s, average sorts 13s lOd, others down to 12s 4d, cull lambs 8s 9d'to 10s 9d, three-shear Southdown rams 3 to 4gns, Cheviot rams Sgns. The Inglewood sale on Wednesday drew a good yarding in all departments, the sheep entry consisting largely of lambs, which were somewhat dull of sale. Ewes were, however, in strong demand, full-mouth sheep selling in advance of late rates. Medium to good shorn wether lambs made 13s Id to 13s 9d, woolly wether lambs 15s 7d, best mix-ed-sex’ lambs 14s 2d, culls 75.4 d to 9s Id, good rape lambs 17s 6d, shorn 16s 6d, two-tooth wethers 21s 7d, mixed-age light-conditioned 'wethers 17s Bd, good sound-mouth ewes 17s 3d to 18s, failingmouth sheep 12s to 13s Id, fat Jersey heifers £4, fat Jersey cows £3 to £3 2s, forward sorts £2 12s 6d to £2 14s, paddock cows 35s to £2 ss, boners 22s to 295. Works bulls met strong competition, heavy sorts selling at from £4 9s to £5 ss, lighter £3 12s to £3 18s and small £2 5s to £2 12s 6d. Calved Jersey heifers made £3 to £3 10s and heifers close to profit £3 10s.

Entries at the Stratford sale on Tuesday consisted of the usual oddments, which were supplemented by an average yarding of fat sheep. Extra heavy prime fat ewes made to 255, fat wethers 24s Id, forward lambs Is. Other prices were on a par with late rates. The Urenui sale on Monday drew a good yarding of sheep, which was supplemented by the usual oddments, the latter selling at late rates. The sheep entry included a line' of fat wethers which realised 23s 3d. Rape lambs were keenly competed for, Southdown cross sorts selling at from 16s to 16s sd, average black-face lambs 14s 2d to 15s 2d, medium Ils 6d to 12s, culls 8s and soundmouth ewes in light condition 12s Bd. Yardings in the pig section for the most part consist of weaners and slips and the demand for these two classes has shown a decided receding tendency during the past week. Large stores have also lost favour, but not to the extent of the younger classes. The New Plymouth Haymarket sale yesterday drew an ent& of 200 head of weaner pigs, supplemented by a small entry of porkers. Bidding was very slow and some difficulty was experienced in quitting at vendors’ ideas of values, and prices were somewhat lower than those recorded at last week’s fixture. Good porkers made to 27s 6d, lighter sorts 24s 6d to 255, good stores 19s 6d to 21s 6d, slips 13s 6d to 15s 6d, choice weaners Ils to 12s 6d, average 9s to 10s 6d, small and inferior 6s 6d to 7s 6d. PRICES OF EGGS AND POULTRY. The range of prices for eggs during the week at New Plymouth was as follows: First grade hen eggs, Is 2d to Is 4d; second grade, Is to Is lid; mixed, Is Id to Is 3d; duck eggs, Is to Is 2d; pullets, lljd to Is l|d. L. A. Nolan and Co. reports a good penning at its poultry sale yesterday. Prices were as follow: Hens, 8d to Is 6d; pullets, 2s 3d to ss; cockerels, 8d to Is 3d; bantams, 3d to 8d; ducks, Is to Is 3d.