LIVE STOCK MARKET

Hawke's Bay Herald-Tribune, Volume 81, Issue 65, 9 December 1937, Page 15

LIVE STOCK MARKET

Fluctua'tions Dufring Past Season MR. T. CURRIE'S REVIEW Speaking at the annual meeting ef shareholders of the New Zealand Farmers' Go-op. Distributing Co., Ltd., held at Masterton on Wednesday, Mr, ,T. Currie (Wanganui), chairman of direct-' ors, reviewed the past season 'a live stock market fluctuations. ".During the past twelve months weather" conditions have been most variable, and values for stock have shown much fluctuation. Early in the season a strong demand set in for cast station ewes in iorward delivery. Many farmers anticipated a shortage of ewes suitable for mating -with Southdown rams, and owing to keen competition were forced to a dangerously high level. During Febrilary and March the enquify slackened off, and realisations at the various fairs held during these months showed a considerable drop on prices ruling previously. A noticeable feature of the market was that values after mating, were below those ruling before rams were turned out. From the end, of June onward, however, moro confidence was displayed and markets again became buoyant, with a full recovery in prices. Store lambs, particularly ewes, were in strong demand right . through the season, and values were maintained at a relatively high level. Favourable weather conditions on the West Coast districts during lambing r6sulted in high percentages being obtained. In Hawke 's Bay and Wairarapa returns were, however, most disappointing, and the average in these parts was the lowest recorded for some years past. The store cattle market has been in and out. Freezing companies have extended considerably their opera- • tions in the chilled beef trade, and up to the end of September difficulty was exporienced in supplying farmers with store cattle suitable for their class of business. A particularly dry spejl. during the early spring with a consequent shortage of feed occasioned a set* back in the demand, and prices during the past two months have shown a sharp decline. Recent rainB have been beneficial, but aa the early summer inonths are upon us the growth of gra'ssj particularly in those districts in which our company operate3, will not be sufficient to enable fatteners to stock up to their average requirements. It appears likely, therefore, that cattle markets may remain quiet until autumn raina set in. "The recovery in prices for dftify stock experienced last year has been maintained during the season just closed. The keen demand' that has existed, however, has been due unfortunately to a great extent to the appalling wastage in herds, owing to udder and other trouble. A disturbing feature of stock saies held in dairying dis-. tricts has been the heavy offerings of good type dairy cows rejected by farmers and sold for "potting." - The high cost of replacement has undoubtedly been a strain on the dairy fanner, and has very materially affected the nett return for his labour. This wastage in our dairy herds calls for immediate investigation by the authorities. "On the whole the past season 's operations have been satisfactdry, and despite the variable weather coditios that have prevailed, ad price fluctuatios, the returns to those engaged in the industry compare favourably with those of recent years. "It is difficult to forecast the future. The heavy drop in wool values and concern as to a possibility of further legislative action affecting the industry has brought about a feeling of pessimism among some of our farmers. "Higher operating costs and & lower price level for our products must naturally give cause for concern. It is recognised that stock values are to a great extent governed by the prices obtained for our wool. I would point out! to you that the statistical position of • wool is sound — there has been practi-i cally no carry-over, of last year's clip, and although there is no doubt thafci prices will be well below those ruling' last season, realisatoins should at least be equal to those ruling in 1935-36 season. Should this be so, we may, I' think, anticipate that stock markets and prices during the coming season should not be below those ruling during the 1935-36 period. "In the meantime it behoves farmers to display those attributes which characterised the pioneers of our country woh first made prosperity possible. The attributes of hard work, self-reliance, economy and co-operation, " he concluded.