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THE MARKETS.

The New Zealand Farmers Co-operative Association report under date London, July 12th, 1890 :— Grain. -Wheat.—The weather, instead of improving, has become worse since the date of our last report. Heavy and frequent rains have greatly interfered, with hay-makers, and have damaged the corn by beating it down in the fields in many districts. A similar state of things has retarded the harvest, and caused great anxiety to be entertained with regard to the crops in the near Continental countries. This has'strengthened the hands of holders of wheat, and caused an active demand, particularly for spot parcels and cargoes near at hand, at prices which shew an advance of Is 6d to 2s per quarter. France has led the way by buying up a good many of the White Wheat cargoes on passage. Californians have advanced 2s per qr to 37s 6d per 5001bs, c.i.f., U.K., f.0., in all positions, Australians are Is 6d to 2s dearer, at 37s 3d to 37a 6d per 4801bs, c.i.f., those expected off coast within the next three or four weeks attracting the most attention. New Zealand cargoes have shared fully in the improvement, as much as 37s per 480 lbs, c.i.f., having been paid for a fine cargo of Tuscan off coast, per "Glenearn" which has been taken for Havre. Two or three later cargoes—June-July Bs/Lg—which will have to compete with new homegrown wheat, have changed hands at 34s 6d to 35s 9d per 4801bs, c.i.f., U.K., f.o. The scarcity of English wheat has led to a brisk demand for N.Z. parcels on the spot, and the market has been relieved to some extent by the diversion of the "Cape of Good Hope" with 9000 qrs. from London to the Bristol Channel. Closing quotations show an advance of Is 6d to 2s per 496 lbs ex store. We quote as follows for New Zealand wheat, viz ; — Sound Long berried, fair to good, 37s per 496 lbs. Sound Short berried, fair to good, 36s to 36s 6d per 496 lbs. New Zealand Beans.—No change to report, present value being about 33s per 504 lbs ex store. New Zealand Oats.—Quiet and rather lower on the fortnight, but the market closes with a slightly firmer tone. Good qualities are worth about 26s to 27s per 384 lbs. Wool.—During the past fornigh*- 'the market has changed for the better, a slight increase in the demand having, as anticipated, promptly brought about a marked recovery in prices. The decline of 10 per cent on merino wool, established at the commencement of the series, is now reduced to about 5 per cent, while, in some cases, the level of last sales' rates has been regained. Crossbreda of low quality, which opened at about 5 per cent reduction, are practically unchanged, although during last week they were especially difficult of sale. Bright and fine descriptions are eagerly competed for, and are quite as dear now as at the the close of last sales. Fair and medium sorts are still, however, rather neglected. New Zealand parcels, we regret to say, have not participated to the full in the improvement, the depreciation in prices having been much less marked in their case that in that oi most other descriptions. The programme for the current auctions will doubtless be considerably curtailed. For next sales the fresh arrivals amount to some 76,000 bales, of which over 25,000 bales are from New Zealand.

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http://paperspast.natlib.govt.nz/newspapers/AG18900822.2.6

Bibliographic details

THE MARKETS., Ashburton Guardian, Volume VII, Issue 2498, 22 August 1890

Word Count
569

THE MARKETS. Ashburton Guardian, Volume VII, Issue 2498, 22 August 1890

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