WELLINGTON NEWS

Hokitika Guardian, 12 March 1927, Page 1

WELLINGTON NEWS

CROSSBREDS IN NEW ZEALAND. (Special to “ Guardian.”) WELLINGTON, March 9. An authority on wool, Mr S. B. Rollings, lecturing before the Bradford Textile Society on “ Changes of Character in Wool Supplies,” made special reference to the position in New Zealand. lie stated that about the year IS7O New Zealand was producing nothing but merino wool; but to-day thq, Donrinion was producing no' less than 9S per cent of. crossbred wool, and for many reasons this was to be regretted. New Zealand merino wool had certain properties which were not so pronounced in the merinos of either Australia or South Africa. No doubt the development of the frozen meat industry was responsible for the great change in the output of the Dominion, and so long as freezing establishments continued to function as they had done during tile past dozen years there was little chance of pastoralists forsaking their present policy of breeding a dual purpose sheep. “It would seem (observed Mr Rollings) from accounts to hand that New Zealand pastoralists are not now enjoying real prosperity. One hears serious complaints about the unprofitableness of both carcase and llecce, and while the bulk of crossbred wools are now cheaper than during the control period the chief can no of tlie trouble is the extravagant land values and the high first cost of many properties. Tt seems inevitable that land values must further fall, and then costs be reduced to a more economic basis. The lowest qualities of Now Zealand wool arc paying the worst— AO’s and below are being bought in New Zealand and London at very reasonable prices. Half-bred wool cannot be grown unless there are larger merino flocks to draw upon for crossing purposes, hut this breed is not numerous in New Zealand, consequently fine half bred AG’s wool is scarce, and the price is relatively higher than it ought to he. Well bred Corricdale sheep produce AO’s fleeces with all the characteristics of good halfbred wool. The Corricdale is supplying a considerable weight of what the trade calls fine crossbred wool, though in New Zealand and London catalogues it is usually described as Corricdale. Wool men as a rule pay little regard to tlio breed or name of sheep on which flic fleece is grown; they judge the wool according to quality and character.” THE PRODUCE MARKETS. The past week’s quotation for butter and cheese and frozen meat are very discouraging, and real anxiety is being felt ns to the immediate future of values. The prices of both butter and cheese were reduced last week. The “ named ” price for controlled butter was reduced by Os, making 14s per cwt in tlie course o fa fortnight and finality has not yet been reached, for the demand does not seem to be strong enough to keep prices at their present level. On February lltli the price of New Zealand finest butter was raised 2s to 1765, but owing to the slowness of the demand the price was reduced 8s a week later to 108 s. and now there is a further drop of (is, making tbo price 1625, this being equal approximately to 1 3-Ad per lb of butter-fat. The' probability is that the price will go still lower because of the enormous quantity in store and to arrive. Some of those interested in the trade are insisting upon the Prime Minister disclosing the position in London as it appeared to him. This of course would l>e very interesting but if will not help to improve tlie market position. The dairy farmers asked for and secured the Control Board, and they must accept the consequences. Tlie gamed prices for cheese have also been reduced. and here again it would appear that the congestion of stocks is the cause of the trouble, for there were 124.4A0 crates of Australian and New Zealand cheese in store on March Ist. against 68,100 crates at the corresponding date last year. The drop in values will probably lead to a reduction in advances which would mean a lower purchasing power for dairy farm-

ers. The dumping of 200,000 quarters of chilled beef from the Argentine on the London market has depressed prices all round. The chilled beef was quoted at 2fd for fores and 3ijd for hinds, which are extremely low prices for such meat, and the low prices must have diverted consumption from mutton and lamb. Practically all grades of frozen mutton and lamb declined J ,d to -Jd per lb, and at the same time the Arbitration Court awarded freezing workers increases in wages.