ARGENTINE STOCK PRICES

Dominion, Volume 35, Issue 290, 5 September 1942, Page 5

ARGENTINE STOCK PRICES

Enormous Turnover

The total value of sales made during the year 11)41. in the two great cattle markets ami the great sheep market located about Buenos Aires has been computed as amounting to over £25,000,000; N.Z. currency. The ‘‘.Review of the River I’late” (February 20, 1942) supplies this and other information upon Tlie Argentine stock market. The vast turnover may be appreciated from the fact that no fewer than 2,353,298 head of cattle were Sold at the one great sale. Pigs sold in this same market totalled 571,773. At 'the preeminent. sheep market there were sold 5.912,853; that is as many sheep as would go through all the export works of the North Island, lambs included, in a year. With that .statistical thoroughness so frequently noted in overseas returns there is supplied both the highest and lowest prices made for each class of stock, together with the overall average of each for the year. With some difficulty "JI.A.S.” bus managed to convert the Argentine quotations into New Zealand form. 'l'he Argentine dollar is quoted at two rates, 15 and 17 dollars to the pound sterling. 'Taking the mean of these, and then allowing the Doiidou-New Zealand exchange rate, gives flic Argentine dollar a New Zealand value of 1/G:}, approxiuialely 13 to the £. Kegariling cattle in particular, one Ims n further problem to convert these, and pigs, from dollar* per kilo liveweight, into New Zealand shillings per lOOdb., or individual lb., of dead weight carcase. The calculations made show that ihe average price of all the beef sold during 19-11 was 32/- per 1001 b., this, at-port yards, and including cows, heifers, and vealers . as well as steers. The average value of all the #heep and lambs was 19/(5 a head. For pork and bacon, including choppers, the overall value was -Lid. per lb. of carcase weight. In commenting upon the February. 1942, market, the aforementioned journal declares that fat. stock values were "reaching almost unprecedented levels.” In quoting the prices for that, week it is found that top quality steers were mak-

ing from 30/- to 40/- per 1001 b., with the lowest grade quoted making 33/- to 36/-. Average fat cows were returning 29/6 to 32/-, with heifer beef, ."special light,” making the highest price of any class, exceeding that of the best chillers, making from 40/- to 42/6. Shorn wethers were making from 21/6 to 23/- for extra special, with a general average of IS/- to 18/6. This is very much on a par with what such wethers would have made in New Zealand at that time. It is most strange, however, to find that ewes were making almost the same price as wethers, there being a difference of but 1/- to 1/6 for the various grades. Hoggets are quoted and these, presumably, must be lambs. What are judged to be first quality lambs are quoted at 19/3 to 27/-,- with lighter weights at 19/3 to 23/-. Such prices were fully equal to those we were receiving in New Zealand, despite the fact that Argentine lamb has nowhere near the quality of New Zealand. Overall, it would appear that the Argentine meat producers have received rather more favourable treatment than have those of the Dominion. 'This is judged to be due not to any more generous treatment from the British Government, having regard to the quality of the product, but apparently to fewer elements of Government control iu Argentina.