558 



The Fall in Live Stock Prices. 



[Sept.^ 



Table II. 



WeeJdij average Market Prices of Fat Cattle and Sheep, 1921. 



Week ending 



Fat Cattle (per live cwt. ). 



Fat Sheep (shorn) per lb. 



1st Qual. 



3rd Qual. 



Cows. 



1st Qual. 



3rd Qual. 





s. 



d. 





d. 



s. 



d. 



d. 



d. 



11th May 



101 



9 



81 







87 



9 



204 



15 



18th „■ 



101 



9 



78 



6 



88 



8 



20i 



151 



25th „ 



101 



6 



76 



6 



87 



9 



20| 



14^ 



1st June 



98 



6 



75 







83 



3 



21 



154 



8th „ 



95 



9 



72 







81 



6 



204- 



14i 



15th „ 



95 



9 



71 



6 



81 







19| 



Hi 



22nd „ 



93 



6 



69 



9 



78 







m 



134 



29th ., 



88 



6 



66 



6 



73 







m 



12| 



6th July 



87 



9 



67 



3 



73 



3 



18 



m 



13th „ 



83 







61 







66 



3 



161 



lU 



20th , 



79 



6 



59 







63 



6 





11 



27th „ 



82 







60 



6 



65 







16f 



IH 



3rd August 



83 







63 



3 



66 



9 



17 



Hi 



10th 



85 







61 



3 



67 



9 



171 



12 



17th 



84 







62 



3 



67 



3 



17 



iH 



Since April fat cattle have thus fallen by 20 to 26 per cent., 

 while sheep have dechned 18 to 23 per cent, compared with 

 May, when shorn sheep were first marketed in appreciable num- 

 bers. Many factors have no doubt contributed towards this de- 

 cline. A slight fall in prices is a normal feature of this season 

 of the year, but it is not usually sufficiently noticeable to attract 

 attention, and has probably been accentuated this year by the- 

 abnormal conditions that have obtained, industrially and clima- 

 tically, during the past few months. The continued drought and 

 consequent lack of keep have resulted in larger numbers of fat 

 stock being marketed than is normally the case at this season 

 of the year, and many of the animals sent into the markets have 

 been in only a partly finished condition. Add to this the reduced 

 demand consequent upon a long spell of hot weather, and an 

 abnormal amount of unemployment, and there is no cause for 

 wonder that trade and prices have been seriously disturbed. 



These factors, however, are not sufficient in themselves ta 

 account altogether for the heavy decHne in prices which has 

 occurred. The primary cause of the fall is more probably the 

 general decline in wholesale prices which has recently become 

 apparent, and which has already been reflected in the market 

 values of other agricultural produce. Table III shows the index 

 numbers of wholesale prices during the past year, as given in the 

 Statist newspaper (expressed as percentages of the index number 

 for 1913), together with the index numbers of agricultural prices 

 during the same period and those of the cost of living prepared 

 by the Ministry of Labour. 



