FINANCE AND COMMERCE

Taranaki Daily News, 28 April 1934, Page 11

FINANCE AND COMMERCE

TARANAKI STOCK MARKET BUSINESS QUIET GENERALLY. FEW SALES OF DAIRY CATTLE. Newton King Limited’s stock market report for week ending to-day states that the change in the weather to a complete reversal of the ideal growing conditions which the district .had enjoyed for two weeks was experienced during the week. Pastures have, however, shown a vast improvement as a result of the warm rains experienced, and while it would be unreasonable to expect the ideal growing conditions to endure indefinitely, it Is probable that the sudden change marks the advent of winter.

Affairs in the live-stock world are quiet, a general disinclination to become involved in indefinite speculation being displayed, as a result of which little business with cattle outside that conducted under the hammer is being transacted. Pending the re-construction of the dairy -produce markets it is not likely that trade with dairy cattle on any large, scale will be negotiated. Business with this class generally accounts for the bulk of trade at this period, but latest developments in this connection are sure to occasion further delay and increase the already existing anxiety with holders. „

The prospects of any reasonable stability in the beef market at existing rates is viewed with some scepticism by holders as a result of the threatened restrictions, and consequently fattening cattle meet little support, more so with regard to bullocks than with cows and heifers. Younger station cattle, however, continue to sell at values seemingly above their corresponding values when comparison is made with figures ruling for older cattle, and it would Seem that buyers-are showing little regard for today’s. export schedule when calculating their outlay, Possibly the seeming shortage of young , station-bred cattle is the main governing feature in buyers’ operations. Paddock sales since the last report include 100 Polled Angus weaner steers' at from £2 2s to £2 15s, and 40 store and forward cows at £2 10s. The Douglas sale oh Monday drew a fair yarding of . bullocks, but only those in good condition were sought. Three and 4-year Shorthorn store bullocks made to £2 19- and forward P.A. 4 and 5-year bullocks £4 7s.

On the other hand it can be said that a confident tone is the order' in all brandies of the sheep, section, and considerable changing would be the order were it not for the want of’quotations. Breeding ewes are being freely sought but few lines of consequence are being quoted. Four and 5-year ewes mated to Southdown rams are perhaps the most popular, changing of small lines having beeh-recorded at from 20s to 21s 6d. All classes, of .lambs meet 'strong support where offered at auction, and those quoted privately are readily absorbed. Store and. forward wethers find a. fairly ready outlet, but values for these, although well up to what can be expected when the existing export schedule is considered, are a little easier than they were a week or two ago.: The Douglas sale on Monday drew a good yarding of -lambs, which, was supplemented by a fair entry of wethers. Both classes met with a very strong demand, lambs especially selling well. Romney ewe lambs (shorn) made 15s Id, fat and forward wether lambs 18s 6d to 19s, good stores 16s to 16s 9d, others Ils 6d to 14s 9<L shorn black-faced lambs in fancondition 15s 9d, ma. ewes 18s lOd, fat and forward 4-tooth wethers 24s 6d to 255, 2-toofh wethers (small) 18s. Sales by private treaty in this branch include 300 good shorn wether lambs at 16s 6d and 600 4 and 6-tooth wethers at 225. Little changing of dairy stock has been negotiated since the last report.. Some hundreds were, however, been disposed of earlier, but the large supplies available suggest that little improvement in the market will be occasioned by difficulty in satisfying requirements. The position is more likely to be an oversupply than a shortage. With the incoming of the winter many holders show some anxiety regarding the disposal of their holdings, and most sellers are pre-, pared to quit at seemingly low values. Truck-lots of good cattle are available at from £5 to £5.55, larger selection of good cattle being offered at from £4 10s to £4 15s, while wholesale lines for June delivery can be purchased at about £4. The demand for dairy cows is somewhat spasmodic and few herds have as, yet changed hands. Quotations range from £5 10s to £7 10s, but few buyers are prepared to exceed £6 for good young cows, although' some small herds have changed hands at from £6 10s to £7. No improvement in the demand for weaner Jersey heifers is noticeable. There are, however, buyers who are prepared to oprate at from £1 10s to £1 15s, but as most holders of tops are being quoted in excess of the latter figure little trade is being negotiated.. Fair numbers of this class are now coming forward to the fortnightly sales, but the-majority of the entries consist of small and poorer-bred cattle. These are somewhat dull of sale and low prices, are the order. Values • in the beef section are reasonably firm, but with so much uncertainty surrounding the future of this branch butchers show no inclination to purchase other than immediate requirements. Young cows and heifers continue to be preferred, sales during the week including a line of 50 fat heifers at from £5 5s to £5 10s. Prime heavy young cows sell at up to £5 10s, average weights £4 15s to £5 5s and good young cows from dairy herds £3 5s to £4. Values in the fat sheep section are firm throughout, and although there is no indication of any likely early hardening, the general opinion is that this ( branch is not likely to suffer any setback. Both ewes and wethers are in plentiful supply, butchers’ requirements being satisfied at the following rates: Wethers 25s to 265, ewes 19s to 21s. Fat lambs continue to sell well, figures rul- . ing being well up to export rates. Sales during the week include a line of 300. fat lambs at from 19s 6d to 225, while a line of 300 extra-good fat ewes was purchased by a southern buyer at 21s. At Tarata on April 20 the full advertised entry of 1000 sheep and 250 cattle came forward. The sheep entry comprised mostly store and forward lambs, for which there was particularly keen inquiry. The whole offering was cleared as follows: Fat lambs woolly 20s to 21s, fat and forward woolly lambs 18s to 19s 6d, good shorn wether lambs 17s 2d, 17s Id down to 16s, good store wether lambs 15s to 16s, small and medium 13s 7dto 14s 6d. ' The entry of wethers with one exception was keenly competed for, as were also all the ewes that were offered, realisations being: Heavy fat wethers 255, medium to good 22s 6d to 235, store and forward wethers 21s to 22s sd, prime fat ewes 20s, 4 and 5-year ewes r.w.r. 22s 6d, lighter-conditioned 17s to 19s. The cattle entry was representative of all classes and with the exception of bullocks of which there were three pens offered, an excellent clearance was made at satisfactory prices as follows: Fat cows £2 15s to £3 10s, fat heifers £3 to £3 10s, store and forward cows £2 to £2 10s, boners from 20s to £1 15s, according to weight and age, cows with calves £2-10s to £3 Ils, 4-y.ear-old bullocks £3 15s to £4, weaner Friesian heifers £1 10s, weaner Jersey heifers £1 to £1 10s, rising 2-year empty dairy heifers, Jersey-

cross £1 11s 6d to £1 19s 6d, 2-year Jersey heifers r.w.b. £2 10s to £4, dairy cows and heifers close to profit £3 15s to £4 15s. Stony River sale on Tuesday drew a heavy yarding of -reject cows, works competition accounting for the bulk of the entry and heavy sorts making from £2 4s to £2 16s, meaty cattle £1 13s to £1 19s, boners 15s to £1 4s, fat cows, dairy sorts, made £3 15s to £4, killable cows £2 10s to £3, average to goodquality weaner Jersey heifers, welldone, £1 10s, lesser-bred and smaller cattle 15s to £1 2s. Hawera sale on Thursday drew a heavy yarding of reject cows, which was supplemented by. an average yarding of sheep. Bidding was keen throughout the sale and a total clearance was effected at the following range of prices: Fat shorn Romney rams 19s 4d to £1 Is, unfinished 18s, extra good fat Down-cross lambs £1 5s 2d, woolly wether lambs 15s 9d 2-tooth wethers 20s 6d, 2-tooth wethers small 17s 7d. Light fat cows, dairy sorts, made £2 Ils to £3 2s, meaty cows £1 18s to £2 ss, boners 15s to £1 Bs, 3-year in-calf Jersey heifers, well-groWn and in good condition £5 ss. Waiwakaiho sale on Thursday had an average yarding in all departments, light fat Holstein heifers making to £3, killable cows from dairy herds £2 8s to £2 12s, heavy works cows £2 to £2 10s, meaty sorts £1 10s to £1 15s, boners 17s to £1 ss, dairy cows due July and August brought £3 7s 6d to £3 12s 6d, calved heifers £3 15s,- and springing heifers average quantity £3 12s 6d.. With the dairying season drawing to a close, the demand for pigs shows a continued easing tendency, values for all classes other than fats having receded during the week. The New Plymouth Haymarket sale on Friday drew an average yarding, killable pigs being the only class keenly competed for. Slips and weaners were, dull of sale as were stores, and values showed some receding on late rates. Realisations: Porkers, best, 27s to 28s, lighter 24s 6d to 25s 6d, good stores 17s to 18s, average 14s to 15s, slips 8s 6d to' Ils 6d, good weaners 6s to 7s, others 3s to 4s 6d. LIMITED TRADING LITTLE CHANGE IN VALUES. STORE SHEEP STILL DEMANDED. The Farmers’ Co-operative Organisation Society reports that trading during the week has been limited. Ideal growing weather conditions were experienced in the early part of the week, with a decidedly cold snap- setting in during the latter part. However, feed conditions have been so good during the season that no qualms are held with regard to having sufficient fodder for the winter. A good general rain, has been experienced throughout the Waikato during the week and it is hoped that this will stimulate the inquiry for dairy heifers from that district. The final Wellington wool sale of the season proved disappointing to growers, a drop of from 2d to 4d per lb on the March series taking" place. Both butter and cheese markets remain steady with a slight advance being noticeable towards the latter part of the week. Great, interest is being, taken on this section of the export market at the turn of events manifested early in the week.

Values of all classes of fat stock havej differed little from those mentioned last week. Sales of fat ewes have been; effected at from 18s to £l, with fat. wethers at from 25s 6d to 27s for extra prime sheep. All fat lambs continue to meet keen demand wherever offered. In, the fat cattle section values remain firm; and sales include a line of 30 extra prime; P.A. heifers at £6 7s 6d, with a further. 30 prime P.A. heifers at £6. Sales of odd; trucks of cowsandheifershave beeneffected at from £5 5s to £5 17s 6d.

Keen inquiry exists for-most classes of store sheep, with difficulty being, experienced in obtaining quotations. Ewe lambs are in demand, as high as 21s being obtained for top sheep, with values ranging from 16s 6d to 18s for medium sorts. Wether lambs are in demand at from 16s to 18s 6d. Five-year ewes continue to create interest at about 20s. The demand for store cattle has been practically ’ confined to a demand for young cattle, with 18-month heifers ranging from .£2 15s to £3, and 18-month steers to £3 2s 6d.

Inquiry in the dairy heifers section has been spasmodic, Sales include a line of'choice 2-year cattle at £6, -with further,trucks at.from £4 to £5 2s 6d.' Business in the weaner heifer section has been limited, values for best cattle rang-: ing from 30s to 355. (I Yard sales at all centres have been well supported, with capacity yardings of store cows from the dairy.

At the Waverley sale a good yarding of all classes of cattle came forward. Store cows realised 30s, 34s to' 395, paddock cows £2, £2 7s 6d to £2 12s, better sorts £2 18s, £3 to £3 3s, bulls £3, £3 10s to £4. A line of 230 wether lambs made 16s sd, a line of 70 ewe lambs 18s 9d, weaner pigs 5s 6d, 7s to 9s, and store pigs 10s. At the Auroa sale on April 23 there was a fair yarding of all classes of cattle, a total clearance being effected. Paddock cows realised £2 6s, £2 8s 6d to £2 11s and store cows £1 14s, £1 16s to £2. • • ,

The Okaiawa sale was held on April 24 and evidence of cattle coming from the dairy herds was shown, when a full yarding came forward. Bidding was brisk and a total clearance resulted.; Good conditioned cows realised £3, £3. 4s, £3 6s to £4 2s, store cows £2, £2 10s to £2 12s, lower conditioned cows 28s, 30s to 345, and a few weaner heifers sold at 325. At the Stratford sale on Tuesday there was a good yarding of both store cattle and sheep.. The sheep comprised two lines of good ewe lambs from the King Country. These met with keen competition'and sold exceptionally well at from 17s to 20s lOd. A line of 60 fat and forward wether lambs sold at 17s Bd,‘ smaller lines of cull lambs and wethers being disposed of at market value. In the store cattle section everything was disposed of at late rates. LIVE STOCK MARKET PAHIATUA CATTLE FAIR A GOOD CLEARING At the Pahiatua cattle fair on Monday the New Zealand Loan and Mercantile Agency Co., Ltd., sold 1250 head at the following prices: Account R. E. Nelson, 9 bullocks at £5 17s, 11 do. at £4 10s; account W. P. Nelson, 11 do., £4 10s; account R. Robbie, 19 do., at £4 8s; account J. Algie, 24 do. at. £4 10s, 14 do. at £3 17s 6d; account W. P. Nelson, 23 steers at £3 19s; account J. P. Nelson, 17 do., £4 12s, 14 fat cows at £4 Is; account F. C. F. Franklin, 20 do. at £4, 10 do.’ at £3 ss; account H. C. Rasmussen, 8 do., £3 19s; account N. Goodin, 14 do., £3 13s; account D.. W. Gray, 16 steers at £3 Is, 5 do. £3 10s; account C. C. Tolley, 17 steers, £3 19s, 6 do. £3, 3 do. £2 6s; account A. Ruskell, 3 steers £4 Is, 15 cows at £2 17s; account S. W. C. Raleigh, 16 cows at £2 ss; account McLennan’s Estate, 26 cows, r.w.b., £2, 33 weaners at 365; account Estate W. Morrison, 25 weaner steers, £2 10s; account B. Wright, 17 do., £2 6s; account W. Dickens, 22 do., £1 18s; account D. W. Gray, 14 do., 30s; account W1 Rowse, 25 do. at £1 Ils; account A. Ruskell, 27 weaner heifers at 335; account W. Rowse, 40 do. at 265; account C. Raleigh, 19 m.s. weaners at 38s.