1908.] 



Provision Trade in May. 



229 



finished beef. This ought not to be the case if a fair profit 

 for grazing is to be realised. The sudden flushing of the milk 

 yield consequent on the cows going to the luxuriant herbage 

 of the pastures has had a quieting effect on the demand for 

 newly calved or down-calving cows, especially in London, 

 where the best cows on offer are only making £22 without the 

 calf. This, however, is an annual occurrence, and the check 

 is probably only temporary. In many parts of England 

 weaning calves are very dear, so many of the best having been 

 sold for veal. This, in the writer's opinion, is a short-sighted 

 policy. 



The Wool Sales. — The May series of sales of Colonial wool 

 were looked forward to with gloomy anticipations of a very 

 bad trade. They opened indeed with a decline, and a good 

 deal more w T ool than usual was left unsold, much of which was 

 withdrawn without being offered. As the sales progressed, 

 however, a marked improvement in the bidding set in and there 

 was very good competition, especially for cross-breds. The 

 lost ground was recovered and the sales closed at an actual 

 advance, in some cases of 5 to 10 per cent, on the closing 

 rates of the last sales. 



REVIEW OF THE PROVISION TRADE IN MAY. 

 Hedley Stevens. 



Cheese experienced a poor demand throughout the month. 

 Continued large arrivals of New Zealand cheese prevented an 

 expected advance in prices for Canadian, and in consequence 

 the stocks on hand mostly showed losses to owners. To 

 force the sale of New Zealand cheese, proportionately lower 

 prices had to be accepted (especially as the quality of some was 

 not altogether satisfactory) and in comparison with May of 

 last year a reduction of from 6s. to ys. per cwt. took place, 

 whilst Canadian averaged about 3s. to 5s. below prices current 

 at same period. New season's fodder-made Canadian com - 

 menced to arrive in the second week of May, and showed 

 plenty of quality, but was slow of sale, as the price then asked 

 was within 2s. to 5s. of finest old makes, the latter being con- 

 siderably better value at the difference. 



The Canadian season opened about two to three weeks later 



