STOCK VALUES MOVE UP

Taranaki Daily News, 8 September 1934, Page 6

STOCK VALUES MOVE UP

INDICATIONS FROM MARKET PRODUCTIVE SEASON FORECAST. FARMERS’ CONFIDENCE GREATER. PROSPECTS BRIGHTER THIS YEAR. A sharp rise in prices has been remarked at most major stock sales in both North and South Islands this week, and the firm upward tendency of the market has been particularly noticeable in Taranaki. An analysis of prices submitted to leading New Plymouth agents yesterday evoked interesting comment. Most were agreed that the rise was largely caused by seasonal requirements, but that improvement in conditions and greater confidence played a substantial part in determining the tone of the spring markets. . “The recovery of the wool industry has, of course, assured that bidding for sheep should be firm,” said one big firm’s auctioneer, “but prices have been further affected by the condition of the meat market. I do not think there is any doubt that its prospects are brighter than they were this time last year. Prices paid in Taranaki markets for dairy cattle close to profit were held to indicate that, farmers were convinced thgre was now an excellent chance of the flush beginning early and holding. Farmers who were under-stocked found grass coming away fast as the result of excellent spring conditions, and bought hastily to control their pastures and turn the early growth to profit. Values for “late” cows and in-calf heifers had shown a marked advance on last year’s prices, not because the oversea market prospects were substantially better but because the season promised to be extraordinarily productive. It was noticeable that weaner lines had made no substantial advance, being profitearners next year. The meat export position largely determined the excellent prices ruling for fat cattle at Auckland and Wellington sales, it was stated. The full operation of freezing works buying to schedule was not yet effective, and general stocks were at present so balanced that Dominion consumption made more than normal midseason demands. Advance in prices whatever the immediate cause, was held to be a sight of a season brighter than last.