FINANCE & COMMERCE

Waimate Daily Advertiser, Volume XXIII, 16 May 1922, Page 7

FINANCE & COMMERCE

BEEF SUBSIDY. AUSTRALIAN SCHEME. CATTLE INDUSTRY IMPERILLED. Press Assn.—By TeL —Copyright. SYDNEY, May 15. The “Morning Herald,” dealing with the Federal Government’s beef subsidy scheme, says everybody in the industry is gratified that the scheme has been accepted by all sections, but recognised that it was not going to transform the cattle men’s position from depression to prosperity in one act. An expert working out costs on the new basis, estimates the price paid for prime cattle on stations at Queensland at £3 10s per head. Even this low price is better than nothing, and will enable cattle men to dispose of their surplus stock, allowing for station expenditure, killing and other charges.

The “Herald” says that even with the scheme in working order, it appears likely that the industry will be several million pounds on the wrong side of the balance in the coming season, without considering possible losses from drought and disease. Queensland cattle men realise that there is a very hard time ahead unless the English market improves or the cost of production is further reduced.

The position of New’ South Wales cattle men is regarded as little, if any, better than Queensland.

The “Herald” adds that in all States, cattle men received such a setback during the past two years that the view is strongly held that in future no country suitable for sheep will run larger stock. It is considered that the time is not far distant when Queensland will be running 30,000,000 sheep, nearly twice the present number, by displacing the equivalent in cattle.

DUNEDIN MARKETS. FRASER & CO.’S REPORT. Dunedin, May 12. Fraser and Co., auctioneers, produce merchants, commission agents and agents for the Otago Egg Circle, 146 Crawford Street, Dunedin, report: Egs: Market firm. We quote Egg Circle eggs 2s 9d; plain 2s 7d. Butter: Market is firmer. Dairy pats Is 2d to Is 3d per lb; bulk to Is 3d. Pigs: We quote bacon pigs to 7d per lb, porkers to 7d, overweights to 5d per lb. Tallow: Market stationary from 16s to 21s cwt, acording to quality. Honey: Demand is poor. Prices are nominal: Prime bulk to 6d, 101 b tins 6s 6d to 7s. Beeswax: Is 6d to Is 9d per lb. Potatoes: Market over-supplied and sales are slow. We quote prime fables £5 per ton. Prime onions: To £8 10s per ton. Poultry: Supplies have dropped off, and prices are better. We quote hens to 4 s per pair, cockerels to 7s per pair, roosters to 4s per pair and ducks to 6s pair, geese to 6s per pair. Turkeys: Hens to 9|d lb, gobblers to lid lb, live weight. TA e have the Otago agency for the Champion egg crates, price 17s 6d. Orion Colony brooder £l5. We also stock “Star P” poultry mash, Star P chick feed and lucerne meal Fowl wheat: Price on application.