THE OUTLOOK FOR WHEAT

Sun (Auckland), Volume III, Issue 831, 27 November 1929, Page 10

THE OUTLOOK FOR WHEAT

POSITION IN CANTERBURY Press Association CHRISTCHURCH, Tuesday. There is practically no change to record since the week-end market report. There has been a fair inquiry for small lots of Garton oats and A grade have been sold at 3s and B grade at 3s 7>.d. There are not many about, and the early crops are far front promising. However, the splendid rain that is falling will rejuvenate the later crops. An improvement will also result to small seed crops as a result of the rain. Cocksfoot on the peninsula got a good start by the winter rains, but the dearth of moisture in the spring has affected the crop. There is a smaller area closed and the yield is likely to be considerably less than last year. The wheat market is very quiet, but some of the uneasiness about next season’s yield has been allayed by the rain. North Canterbury, however, is unlikely to produce anything like last season’s average yield, and the lighter land toward the Rakaia is also certain to be down in the weight of crops. Most of the other parts of the province have been receiving useful showers and the decrease in yield in these parts will not be so pronounced. Values for all classes of grain and seeds are as reported at the week-end.

FRANKTON STOCK SALE

BEEF SLIGHTLY EASIER From Our Own Correspondent HAMILTON, Tuesday. There was a very heavy yarding of j beef cattle at the Frankton saleyards \ today. Prices were generally easier than those realised last week. Sheep were penned in medium numbers and sold at late rates. The auctioneers report as follow: — Farmers’ Co-operative Auctioneering Company, Limited.—There was a medium yarding of beef and a good yarding of store cattle. Beef showed a slight decline on last week’s quotations. Sheep maintained their values, while dairy cattle were still in keen demand. Prices were: Heavy fat bullocks, £l3 10s to £l4 14s: lighter, £l2 6s to £l3 ss; heavy fat cows, £8 17s to £9 ss; medium, £6 14s to £7 15s; light, £5 17s to £6 ss; fresh store cows, £5 2s 6d to £5 17s. 6d; yearling heifers, running with bull, £5 8s to £5 19s; dairy cows, in milk, £l2 5s to £ls 10s; dairy cows, close up, £lO to £l3 10s; backward, £8 15s to £9 10s; heifers, £lO 5s to £l4; fat hoggets, 20s 6d to 22s lOd; fat ewes, 21s 3d. New Zealand Loan and Mercantile Agency Company, Limited.—Fat bullocks, £ll 12s to £l3 8s; good fat cows, £9 10s to £lO 17s; lighter, £7 7s to £S 13s; light, £5 12s to £7 2s. A line of 49 prime fat wethers averaged 28s 8d; ewes and lambs, 25s 6d. Dalgety and Company, Limited.—“ There was an average yarding of fat cattle, including a good many well-finished lines of prime steers. The market generally was on a par with last week’s rates. A line of choice fat steers made up to £l3 10s for medium weights. Choice lightweight cows and heifers made to £lO 2s 6d. Small fat heifers, £8 8s; inferior cows, £6 15s to £8 ss; runners, £3 3s to £3 11s; vealers, 30s. There was a large yarding of store cattle, including a line of 200 grown bullocks on account of Campbell Johnstone, which we sold in conjunction with G. W. Vercoe and Company, Limited. The demand was only moderate and the prices generally were more in favour of the buyers than at previous sales. The whole were sold at from £9 15s to £ll 5s for a pen of P.A. bullocks. We offered some lines of good quality P.A. and Shorthorn steers, but these failed to fetch vendors’ reserves. A pen of Shorthorn 18-months-old heifers made £6 ss; bulls, yearlings, up to £6. There was a moderate yarding of fat sheep Prices were on a par with late rates. Best heavy wethers made 28s; medium weight ditto, 2Gs 6d; fat ewes, 20s 6d.”

« UNEASINESS IN LONDON

EXCHANGE-RATE CONTROL

(United P.A. —By Telegraph — Copyright) LONDON, Tuesday.

The ‘‘Morning Post” says some uneasiness has been aroused in the city by cablegrams from Australia stating that the Labour Government is contemplating legislation giving the Government control of foreign exchange rates. Such artificial stabilisation of exchanges was necessary during the war, it says, but countries which have tried the experiment since have found it most costiy or unsuccessful in achieving its aim. On the other hand, the proposed legislation to place, the gold reserve under central control has created a favourable impression among London financiers.

LONDON WOOL SALES A cablegram from London to Dalgety and Company, Limited, states that the wool sales continue to show an active tone. There is a strong demand for best and good Merinos, and fine crossbred is being cleared at par to 5 per cent, higher, as compared with the opening rates. In medium and coarse greasy crossbreds any change in price is in favour of the sellers.