STOCK MARKET REVIEW

Sun (Auckland), Volume I, Issue 256, 19 January 1928, Page 14

STOCK MARKET REVIEW

MOVEMENT IN STORES VALUES HOLDING WELL Reports of heavy killings continue to come to hand from most freezing works operating throughout New Zealand. Many are experiencing difficulty in coping with the bookings. Overseas markets remain in healthy tone, and stock are eagerly sought in this country at practically unchanged values. With the heavy killings of cattle to date beef values tend to harden, forced up by local requirements. At Westfield yesterday an average yaring in all sections mostly met with a ready sale at recent rates. A particularly healthy tone was registered in the cattle section, where choice prime young beasts met with keen competition. The effects of the long spell of dry weather experienced throughout the Province were plainly visible among the sheep and lambs, where the offerings' lacked the bloom and finish seen in the yardings of a few weeks’ ago. The appearance of many of the lambs clearly indicated that they had been rushed into the yards owing to a shortage of feed, and extra prime lambs were well in the minority. The demand for big sheep was not strong at any part of the sale, but late rates Were fully maintained!

Butchers operated more freely than usual in the lamb section, and at times exporters took little notice. With the two factors working, however, late values were realised and, though actual prices may, at times, have made it appear that the market was somewhat easier, the poorer finish of the offering had to be taken into consideration. Some of the lambs offered as fats would certainly not pass a particular grader as firsts. The pig section offers little consolation to the drought-worried farmer who, short of milk, is being forced to send his hogs into the market for what he can get. Prices yesterday were even lower than late sales, irrespective of the fact that exporters were operating, and in the store section even Is was heard among the “last time” figures for some of the smaller sorts of weaners. Other stores were little better in comparison. The market for store sheep has livened up considerably over the past week or so, rm-ticularly in the Poverty Bay, Hawke’s Bay and Canterbury districts. Addington yesterday reported a yarding of over 10,000 lambs, while bigger sheep were also yarded in increased numbers. Reports to hand from the Poverty Bay district state that several mobs are on the way through the Bay of Plenty to Waikato graziers, and indications are that this part of the province will have to draw heavily on the coast breeders this summer to supplement depeleted flocks. Most works are reported to be working at capacity, and the two Auckland works, at least, are hard put to meet commitments. VALUES AT WESTFIELD Values realised under the hammer at Westfield ranged as follows: Cattle. —Extra heavy prime steers, £l4 5s to £ls ss; heavy prime steers, £l2 5s to £l3 12s 6d; lighter prime steers, £ll to £l2 2s 6d; light prime steers. £9 to £lO 17s 6d; small and unfinished steers, £5 10s to £8 37s 6d; extra heavy prime young cows and heifers, £8 15s to £9 17s 6d; medium weight prime cows and heifers, £7 10s to £8 12s 6d; lighter prime cows and heifers, £5 to £7 7s Gd; other killable cow 3, £3 15s to £5 17s 6d. Sheep. —Heavy prime wethers made £1 6s 9d to £1 8s; medium to heavy prime wethers, £1 6s to £1 6s 6d; light to medium prime wethers, £1 4s to £1 ss; unfinished wethers, £1 Is 6d to £1 3s 6d; extra choice heavy prime young ewes, 19s 6d to £1 2s 6d; heavy prime ewes, 18s to 19s 3d; lighter prime ewes, 16s 6d to 17s 9d; other killable ewes, 15s to 16s 3d; other ewes, 8s 6d to 14s. Lambs —Extra heavy prime lambs made £1 7s to £1 9s; heavy prime lambs, £1 os to 3 6s 9d; lighter prime lambs, £1 3s to £1 4s 9d; light prime lambs, 1 Is to £1 2s 9d; small and plain lambs, 14s to £1; small stores, 8s to 12s 6d. Pi £o* — Ch °PP*rs realised from £1 10s to £3 ss; extra heavy prime baconers, U P 13s; medium to heavy baconers, £2 6s to £2 9s; light, £2 2s to £2 4s; heavy porkers, £2 2s to £2 4s: medium, £1 17s to £2; light, £1 14s to £1 16s; small and unfinished, £1 5s to £3. 11s. Stores made up to £3; slips ius to 15s; good weaners, 7s to lis: small and weedy, Is to ss. -Choice prime heavy vealers made to. £4 2s; medium vealers, £2 5s to lighter, 30s to -335; small and fresh-dropped, 5s to 2Ss; rough calves, 8s to 15s. COUNTRY STOCK MARKETS Auctioneers report on country stock sales as follows: The New Zealand Loan and Mercantile Agency Company, Limited.— We held sales during the past week at Westfield, Warkworth and Papakura, all classes of cattle selling at late rates. The demand for all lines of store cattle and sheep is still slack, feed -being short in most places. Good rains are badly needed. We quote:—Best dairy ccws and heifers, close to profit, £lO to £l2 10s; other dairy cows and heifers, close to profit, £7 to £9 15s; backward springers, £5 to £8; bulls. £2 to £8 10s, according to weight and quality; aged cows and inferior heifers, £2 10s to £4 15s; yearling to 18-months heifers, best, £4 to £6 ss; other 18-months heifers, £1 10s to £3 10s; yearling to 18-month steers, £2 10s to £3 15s; 2 to 2£-year steers, £4 to £4 17s 6d; 3 to 3£-year steers, £5 to £6 2s 6d; 4 to 41year steers, £6 5s to £7 2s 6d; grown steers in forward condition, £7 5s td £7 17s 6d; beef, at fully Westfield quotations. Alfred Buckland and Sons, Ltd. —During the week we held sales at Westfield, Turua, Helensville, Pokeno, Runciman and Wellsford. There were average yardings and cattle at all yards, the demand and values being similar to those experienced at the previous week’s sales. Best dairy cows and heifers at profit, £lO to £l4; good cows and heifers, £7 10s to £9 15s; others, £3 lO.s to £7; empty young cows and heifers, £3 to £4 ss; store cows, £1 10s to £2 15s; yearling to 18-month-old dairy heifers, £3 10s to £5 ss; other heifers, £2 to £3 7s 6d; good calves, £1 15s to £2 10s; smaller calves, £1 to £1 13s; grown steers in forward condition. £7 10s to £8 ss; three and a-half to four and a-half year old steers, £6 5s to £7 7s 6d; two to three-year-old steers, £4 15s to £6 2s 6d; yearling to 18-pionth-old steers, £2 10s to £4 10s; heavy bulls, £5 10s to £8; sound young herd bulls, £4 4s to £8 8s; other bulls, £1 10s to £4. MINING NEWS MOUNT WELCOME.— The manager reports: “During the week the winze in No. 2 level was unwatered and sinking continued from the depth of sDft. Several shots were fired and the reef broken out across the winze, good blotches of gold showed in the stone south of the break. In the low level a start has been made to rise where the reef was intersected, with the object of stoping some of the stone broken down to-day showing good gold.” HAUffAKI.— The manager reports as follows: “The seaward face has been advanced 10ft for the week and is now 18ft beyond the vertical under the Green Harp reef at the 180 ft level of the Union Bea<?h shaft. The reef averages 18in in width and strong gold has been seen through the quartz at each breaking down. The flow of water is increasing as the face is nearing the point where the junction with the Green Harp reef is expected. The Hauraki shaft is now 83ft below the 400 ft level. The country rock continues of the same favourable nature. The crosscut toward the Hauraki north section has been advanced 10ft for the week, making the total distance 344 ft from the new reef. The 180 ft level of the Union Beach shaft has been examined and found to be in good condition and only requires cleaning up before starting work, to locate the reef being worked in the 400 ft level.”