FARMING PROSPECTS.

Press, Volume LX, Issue 18237, 22 November 1924, Page 10

FARMING PROSPECTS.

"NEVER BEEN BRIGHTER,"

(SPECIAL 50. "iSS F£*9s. ) AUCKLAND, November gl, •■The prospects of the farming industry in. the Dominion: have never been bnght-er than they are at present, though the position of farmers in all instances may not be ideal. That if, a matter that is governed greatly: by the personal equation and certain other influences, and many have come through a. trying period during recent years." The position was pat thus, by Mr W. D. Stewart, New Zealand superintendent . for Dalgety - aad Company, limited, who is paying a brief visit to Auckland.

■'l have been in New Zealand 34 years, and have been intimately associated with primary industries during that period," he said. "Thft present season has opened more auspiciously for farmers than any that I can remember. I am strongly averse to adopting the role of a prophet, and will give no warnings or predictions further than to state that if the present prices, for our primary products continue, the farmers should experience the best season in the history of the Dominion." Mr Stewart said he had travelled through the country a good deal of late. The South. Island wae literally full, of feed, and the crops were . all looking well, promising .an . abundant harvest. "What he had 6©en of the North Island between Wellington and Auckland had never looked better. These conditions were • reflected in the fact that there was a record production of-butter-fat, and that stock of all kinds were in excellent condition.

The prices foe' dairy products had teen better this season than for' some time, and the market was still in favour of the producers. Unless a dry summer was experienced, or some. . unforeeen factor intervened, there should be a record dairy production, with correspondingly increased returns for" the producers. Wool prices/were up to record figures, and the clip should be rather larger than that of last season.'

Allowing for increased production and enhanced values the Dominion's exports this season should reach £60,000,000, compared with about £48,446,000 for the year ended June 30th last. The exchange position promised to continue to be rather serious, and if exports were maintained to the figures indicated he did not think that there could be any easement.

Replying to a question regarding land values Mr Stewart said he' could offer no strong opinion. The real value of land was its earning capacity, and people should not be carried away by the results of an exceptionally good season. Buyers were not nearly so plentiful a 6 they were a few years ago, but there was bound to be a revival in land: purchases.. Hie trusted. that, it ■would be on sound lines. .

FORWARD BUYING. EXTENSIVE OPERATIONS -IN POVERTY BAY. fgriciAi, to rMgii") - GISBOBNE, November-21. . Farmers -throughout the i district are aware that forward buying of 'store stock is going von this season to a considerably larger. extent than usual, and one , buyer alone has purchased more than 100,000 head o.f sheep, including both fats and stores.. Buying operations were commenced early in September, and. by, the end of that month' a considerable- number- of sheep had been purchased. Some of the farmers • who a few weeks ago were delighted to sell their stock at the-price offered are now regretting having made the/sales. Many of the ewes which have been purchased this season will be going, on to - the

southern market early next year, while some no doubt will find their way to local sales during the course of the next few months. A The effect of these heavy purchases - on the local market .will be considerable. CASHMERE ESTATE.

ASSESSMENT COURT JUDGMENT. Judgment was given, yesterday by the Assessment Court in the matter of the objection raised by the trustees of the Cashmere Estate. Objection was made to .the valuation of the estate. . The Government '.valuation was as .follows:—Land £.47,800, improvements £9050, total £56,850. The area of the estate is 2019 acres 3 roods'2o perches,. • The trustees of the .estate also objected to the valuation of an area qf 23 acres 2- roods 17 perches in Hilis road, near ' the Cashmere Hills Sanatorium. Tho'valuation was ; £3060 on the land and £75 for,the improvements, making a total of £3135. Mr A. F. Wright appeared for the trustees of the estate.-, ■ After ' evidence, had given .for both sides, the Court ■ deferred decision until yesterday, when. a reduction .of

£240 in. valuation on the unimproved value • was made in respect .of the smaller area, and the Department's value of the bigger area was upheld.. PRICE op butter; REDUCTION OF PENNY. Butter hap been further reduced in price as from Tuesday last, the reduction, which is 'equal to Id per lb, being. considered •to be due to the state of the export market. The retail price is now Is 9d per lb, the wholesale figure, being la 7d. The retail price of separator butter is now Is 6d per lb. CROPS IN OTAGO. . . . (spiaiZ TO "ISH .CUU.") DtTNEDIN, [November 21.

Reports from the country- state-that the growing wheat crops are doing better now under the influence of more sunshine. With favourable weather, good (yielda should be obtained around this district. Although the statistics show a reduced area sown in wheat in the Dominion, Otago is understood to be" the exception, as a larger area has been sown in this cereal, than last .year, and evidently the deficiency is in Canterbury, where the dry weather of some months ago prevented farmers from sowing. High prices have been talked about for; new season's wheat bv growers, the figure mostly mentioned, being 8s a bushel. So far a3 can be learned, no buying' 3ffers as high as'7s have been made in this district, but that to .'be the lowest figure farmers are prepared to consider at present, •