COMMERCIAL NEWS.

Ashburton Guardian, Volume XLV, Issue 10386, 4 May 1925, Page 8

COMMERCIAL NEWS.

GRAiM AND PRODUCE. DUNEDIN MARKETS. PUNEDIN, April 29. Hopes that the overseas wheat market would assume, something in the nature of stability in Melbourne immediately following upon the Easter-hob-days have been dissipated. Instead, fluctuations ha.ve been particularly violent A continuance ol such unsettled conditions as have existed for several .weeks has been disturbing to all sections of the ;vheat trade Wild and freojent price movements have made it difficult for importers and home tiatterfto operate, and until better conaifions are restored it. seems that business will be at a minimum. WheatgSwers in Victoria at the moment have inflated ideas of.value, and the future of the market is so obscure that no one can foretell what will happen m ?he even a few hours ahead. SucceSfve heavy falls in prices at Chicago and Winnipeg indicate * h + at pr oos Edition of the in the United States and Canada is ited demand that is being £^ y ~* importers. For some weeks it may be known in the history of the trade in suggests that measures idoSted bVEuropf to effect economies She use !ot wheat have been successful and that the margin between exSters' surpluses and importers' needs gas now assumed a less important fag tor than hitherto. A large q^ I **. °* Seat has yet to find its way to Kuro£ before the end of buyers there again, become active operators a recovery in prices may take

Pl ¥bus the "Australasian": "New •Zealand wheat-growers again have, been expressing dissatisfaction with their lot TheTcomplain that the Government should come to their rescue and they intimate that if this -is not done they will reduce sowings. As a fact, tne growers in New Zealand have been most favourably situated. Not only has .the New Zealand Ministry given taem j exceptionally liberal treatment but they , have been in at position to demand practically import value for their .produce Until recently wheat and Horn; emad j .be imported only under permit, and high prices have been ruling tmougiiout for home-grown wheat, lhat m] face of the extent to which they Have been coddled they again ask that the em- j bareo on the importation of hour be . restored, or alternatively, that a dump- j ing duty be levied upon incomings from abroad. They purposely overlook the i fact that wheat produced m New Ze;> j land is not the most suitable tor bread purposes, and that either whea* or, flour has to be imported if the cofisum- . er is to be provided with the best class of loaf. New Zealand people have had i a lot to put up with for some years ; in regard to the quality of bread thrust ( upon them because of the political sup- , port given to the farmers, and any , attempt to re-impose the embargo on the importation of flour will meet vntn , strong opposition." i The new re-arrangement of prices between the wheat-growers and the millers, under which the millers agree to pay od per bushel more for wheat—--6s 8d for Tuscan, 6s lOd for Hunters and 7s for Pearl, and also agree to reduce the price of flour by £1 per tonis reallv not what it appears so tar as the advance in prices is concerned, liiis is apparent when it is stated that the millers have already had to pay in the vicinity of the increased prices, and even more, in order to secure supplies. Whether the millers are not even now paying higher than the latest agreed-on prices is a matter of conjecture, It is etated that some of them at least are doing so. , , Most of the wheat has gone out of first hands in this district,, and it is stated that a fair quantity is still held by growers and merchants in CanterFowl wheat has advanced in sympathy with the increased price for milling wheat. There was a good inquiry in the early part of the week from those who had committed themselves to forward sales. The position, however, has now steadied, and whole fowl wheat is quoted to-day at 6s 9d, f.0.b., prompt delivery, and up to os lid, F.0.b., spread delivery. . Buyers were operating at the beginning of, the week in order to secure supplies of oats to meet forward commitments for May, and a fair amount of business was recorded in both A and B grade Gartens. Values ranged from 4s 6d to 4» 7d for A's, and 4s Id to 4s 2d for B's. Little business has been done with the North Island for this time of the year, compared with the corresponding period in previous years, this being the result to a large extent of northern merchants taking advantage of the cheap forward quotations of several months ago. Odd lines of heavy Gartens are still inquired for, and any lines suitable for seed meet a fair inquiry. Advices from Canterbury state that there is a good inquiry for under-grade lines, which are quoted at considerably lower money, and that North Island merchants have been operating fairly extensively in these grades for feed purposes. : The demand for chaff continues restricted, and the consignments coming forward from the country are quite « sufficient to keep the local market although there is not a great deal "of reallv prime chaff on offer. Canterbury merchants are experiencing j a difficulty in securing chaff which will pas« the grader, the majority of the consignments being slightly under-

grade. Local quotations range trom '|S ss, sacks extra, ex-truck Dunedm, for good_ quality, to £5 10s for really choice lots. There is practically nothing to report in the seed markets. Little business is passing. Reports go to show that there are plenty of potatoes in Canterbury Digging oDcrations are again general, tollowinsr'on the fine weather, and .considerable consignments have been com- , ing to hand, with a consequent easing j of values. White tables, of f.n.q. j standard, are available for shipment at as low as £4 17s 6d. f.0.b., sacks included, although the general Quotation ■is 2s 6d per ton above the foregoing j figures. , i Eggs are in very short supply. J

Current local wholesale prices for produce lines are as follow : Chaff —£5 to £5 10s per ton, ex store. Potatoes—£4 10s to £o.

THE MEAT TRADE. SMITHFIELD QUOTATIONS. LONDON, May 3. The following quotations are for wholesale quantities delivered at Snuthiield, prices last previously cabled being given in parentheses:— Frozen mutton— Canterbury, light, 8M (9d), medium 7|d (7fd), heavy 6§d (7d), North Island, light BJd (82d), medium 7f d (7£d); Patagonian, light 6|d, medium 6sd. . Frozen lamb.— Canterbury, light 12 5 d (121 d), seconds lljd (llfd); other selected*, light 12-Jd (12d); North Island, both llfd (ll|d); Patagonian both Hd per lb Frozen beef—New Zealand fores d£d <U), hinds 5Jd (sd); Australian crops m (31d), hinds s*d (sfd) per lb. Chilled beef-Argentme, binds; 7d (7|d), fores 3|d (3id), hinds 6d (6fd) per lb. Other meats are unchanged.

PRODUCERS' BOARD'S REPORT. LONDON, May 1. Frozen mutton.—New Zealand wethers and maidens, Canterbury quality, selected brands, 561 b and under, B|d; 571 bto 641 b, 7|d; 651 bto 721 b 6*d: other brands, 561 b and under 8 5 d., o7lb to 641 b 7|d, 651 bto 721 b 6|d; New Zealand ewes, 641 b and under, 6id per Lamb-Canterbury quality, 361 b and under 12£d, 371 b to 42 b, llfd; 431 b to- 501 b, Ud; seconds, llfd; selected brands, 36ib and under 12Jd; d/lD to 421 b, llfd; other brands, first quality, 421 b and under, 11-3 d; seconds, 113 d per lb. „ . . Frozen Beef—New Zealand: Ox fores, 3*d; hinds, 5Jd. Argentine: Ox fores 3fd; hinds. 6d per lb. Chilled Beet—Argentine: Ox fores, lb. THE WHEAT MARKETS. LONDON AND CHICAGO. "LONDON, May 2. Cargoes are firmer owing to strength of closing American cable. Quotations -e again higher, but in view of violent fluctuations of American options buyers hold off. Parcels are firm but quiet. Liverpool future quotations are:— Mav, sellers 12s; July, buyers lis 11-Id; October, lis per ««} tal - 0 4 ' CHICAGO, May 2 Wheat quotations are:—May, 159| cents; July, 150 cents; September, 142* cents per bushel.