HIGH STOCK PRICES

Taranaki Daily News, 18 September 1934, Page 12

HIGH STOCK PRICES

BRIGHT WESTFIELD SALE. 1930 BEEF LEVELS REACHED. Whatever fears raisers of fat stock may have as to the future of the export market for their produce, they have every reason to be pleased with the trend of prices at the local sales held throughout the province in recent weeks (says the Auckland Herald). For some time, the values in all sections at Frankton and Westfield, the two largest sales in the Auckland province, have been well in advance of those obtained at the same period in recent years. At both sales this week there was a marked advance in beef prices, with every indication of the higher values being sustained for some time, as the improvement could not be attributed to short yardings. On Wednesday, for the first time since December, 1930, the price of extra choice ox beef in the Westfield market rose to 31s per 1001 b. Up to the end of 1930 prices had fluctuated for some years in the neighbourhood of 40s, seldom being less than this and often considerably more. Early in December of that year there occurred a sharp fall at three consecutive sales, the price falling from 38s to 28s. Further declines in the following weeks brought the rate still lower, and until a few weeks ago there has been little sign of recovery.

The present improvement set in from about May of this year, when beef was realising 21s per 1001 b. As the winter conditions affected the quantity of feed available, cattle became less plentiful and, with a sustained demand, prices began to improve, with an increase during the past two weeks of ss. Exceptionally good values were also obtained on Wednesday for individual lines, one lot of steers selling to £l4 ss, while another grazier sent in a fine animal which sold for £l4 2s 6d. It is necessary to go back to the end of 1936 for' prices as high as these. For a considerable period the top price at Westfield has been well under £lO, but on. Wednesday no fewer than 75 steers sold for more than that figure. Sheep and calves also have benefited by the upward trend in the market, and prices for these are on a par with those of three or four years ago. In the case of sheep, it is four years since such values have been seen at Westfield. Over 1000 pigs were sold on Wednesday, and a large number of baconers brought prices in tire vicinity of £4.