BUOYANT MARKETS

Waikato Times, Volume 127, Issue 21191, 14 August 1940, Page 11

BUOYANT MARKETS

HIGHER WAIKATO VALUES FIXE WEATHER CONDITIONS STORE STOCK IN REQUEST Average fat cattle entries make firm to firmer rates. Store cattle continue in keen request at sometimes better money. Dairy stock sell at very firm rates. Fat sheep are dearer. Late rates are repeated for store sheep. Fat pigs show little change. Store pigs are still very dear. It would be difficult to imagine more favourable weather conditions than have been experienced during the past three weeks. A period of abnormally dry and sunny weather was followed by four days of warm, soaking ran that must be reflected in earlier spring growth. At a time when increased dairy production is urgently needed, such favourable conditions are doubly welcomed. The stock are generally in better condition than usual for this time of the year, and the health of the dairy herds is indicated by the improved dairy company output figures as compared with this time last year. A buoyant tone has continued in the stock markets and price levels in most sections are ahead of those that were current during the corresponding period last year. The keen inquiry being experienced for fat stock has not been without its effect on the store markets and here the demand has been unusually animated. Store cattle of good quality have been fetching highly satisfactory values from the vendors’ point of view, and the large numbers that are reported to be on the road from the East Coast for sale in this district should meet an eager reception. Dairy cattle, particularly those close to profit, still meet brisk inquiry and sales from £l2 to £l6 have been reported for quality sorts.

Keen Beef Market A keener inquiry has been noticed 1 for beef in the Waikato during the ' week and the slight setback experi- i enced last week has been more than ! j fully recovered. Yesterday at the j r central yards values were distinctly j better, although there was no sub- < stantial advance. Individual prices J

in some instances were the highes since lasf spring, but the improve ment was not as substantial as th top prices would indicate. Outsid buyers helped the sale along yester day, but there is no indication tha peak values, which are usually ex perienced towards the end of thi

month and during next month, have yet been reached. Store cattle have continued in very keen request and show no tendency to become cheaper. At Frankton yesterday a special entry commanded keen attention and values on the whole were very firm. Special sales are scheduled for the next fortnight and a more reliable indication of the market should be provided.

Values Again Soar The sharp upward tendency has shown no slackening for fat sheep, this being climaxed at the central yards yesterday when a rise of 5s a head was commonly recorded. Current values are regarded as being exceptionally high, but there is no guarantee that they will not advance further still. Yesterday’s top money of 48s 6d for wethers was the best since approximately three years ago when a top figure of 52s 6d was obtained. If entries continue short, a further stiffening of the market is not impossible. Current values are very considerably ahead of those ruling at this time last year as indicated by the prices realised at the Frankton sale on August 16, 1939. At this sale last year, extra prime wethers sold from 26s 6d to 345, fat from 20s to 25s 6d, unfinished from 14s to 19s. Extra prime ewes at the same sale sold from 21s to 275, fat from 13s to 18s. and unfinished from 7s to 10s 6d. Markets For Pigs The fat pig market has suffered little change during the week. A slack market was experienced at the central yards yesterday, but this could not be taken as an indication that the market has received any serious setback. False values have ruled for some classes and it is not surprising that some decrease should be recorded. Entries have been very small and there has been considerable variation in quality. Exceptionally high values still rule for store pigs and it is difficult to see at times how buyers expect to make reasonable profits. Yesterday at Frankton large stores were quoted from 41s to 565. At the corresponding sale last year the same class was quoted from 32s to 40s.

More Margarine Used Official statistics covering the Australian manufacturing industries for the y-car 1938-39, recently issued by the Commonwealth Bureau of Census and Statistics, Canberra, show that during the period under review the total quantity of butter used by the biscuit factories of Australia was only 5927 cwt, valued at £42,203. Margarine used by the biscuit factories in the same period amounted to 66,042 cwt, valued at £185,678. In bakeries during the year 1938-39, butter used amounted to 17,072 cwt, valued at £121,190, but against this, no less than 118,689 cwt of margarine, valued at £362,127 was used. The total value of biscuits produced in 1938-39 was £2,602,242, and of cakes, pastry, pies and puddings £4.305,555.