COMMERCIAL NEWS

Ashburton Guardian, Volume XLVIII, Issue 10952, 25 June 1927, Page 7

COMMERCIAL NEWS

STOCK AND PRODUCE

THE ASHBURTON MARKJi'J

GRAIN AND PRODUCE

CHRISTCHURCH MARRETS

The market for potatoes is not very bright. It is difficult to account for this, because the Auckland market cannot be heavily supplied with potatoes at present. I>uring the past two of three weeks comparatively small shipments of potatoes have been sent forward to Auckland, and the Wingatui, which is taking a consignment north’ has been held up in Lyttelton by the wet weather. The Wmgatui was to have sailed this week, but it will nrobably be the beginning of next week before she gets away. Her consignment of potatoes will probably total between 7000 and 8000 sacks. Auckland, however, should have no difficulty in absorbing this number quickly. The market for potatoes in Auckland is satisfactory, but, in spite, of this fact, not a great many orders are coming to hand. Auckland merchants seem to be following a very careful policy in buying, and the fact that they have made arrangements to bring over a consignment of Tasmanian potatoes niext month is a distinct indication of an attempt to “bear” the market, especially! as the Tasmanian potatoes will probably cost

them more than Canterbury potatoes would. However, so far, the action of the Auckland merchants has not caused any panic amongst Canterbury growers, and they are not showing any greater anxiety to sell their potatoes. Prices to growers still remain at about £4 a ton on trucks at country stations, though, in view of the present state of the market, some growers are not prepared to give as much as £4. However, it looks as if the present dullness in the potato market is only temporary and that Auckland will have to buy

more extensively soon. It should be mentioned that £4 n ton on trucks is the price being offered for white potatoes. Although the demand for Dakotas is limited, there is a distinct shortage of them at present, and any growers who have this variety to sell will probably find that they can get a good deal more for them than for whites. The market for oats is inclined to be dull, with not a great deal of business

passing. The quantity of actual oats available is small, but the demand is also limited at present. Farmers are not selling oats at all freely, and there are a good many crops that have still to be threshed or cut. The shortage of feed in Canterbury, combined with the low prices ruling for oats and chaff, is causing many farmers to hold their oat crops for the purpose of feeding their own stock. This is the off season for seeds, and * there is very little doing in any classes of seeds. A few orders are still coming to hand for onions, hut the supply is much in excess of the demand, and prices remain on a low basis. Further, the I quality of the onions is not too good now, especially for shipping. ( The following are quotations for i produce, to be paid to farmers, sacks i except where otherwise stated: — < VtTieat 9d to os lOd per bushel 1 for Tuscan. 1

Oats—Gartons 2s 3d to 2s 9d bushel; Algerians, up to 2s 6d; Duns, 2s 3d to 2s 6d.

Chaff.—Up to £3 15s per ton. Potatoes—-£3 15s to £4 per ton. Onions—Up to £2 per 'on. Red Clover.—7d to 9d per lb White Clover.—7d to 9d per lb. Perennial Ryegrass.— js 6d to 2a 8d per bushel.

Barley—3s to 3s 3d per bushel for feed purposes. Italian Ryegrass.—ls 6d to Is 9d bushel.

Partridge Peas.—Up to 8s per bushel (nominal). Cocksfoot. —4£d to 6d per lb. Linseed.—Up to £l3 5s per ton. Bran.—£G per ton, f.0.b.. southern ports; 10s extra for smaller packings.

DUNEDIN 1 . DT7NEDIN, June 24. Wheat.—The firming in milling wheat prices in Australia has caused an advance in Canterbury. The firming has been reflected in Dnnedin, where good milling Tuscan is now saleable at 6s, • sacks extra, on trucks. Both Hunters and Velvet are scarce, and there is practically none available in the Otago distinct. Dnnedin millers ar? holding fairly heavy stocks of wheat, and have not been keen to follow the latest move in the market. Fowl wheat is selling at 6s per bushel, sacks extra, wi:h a steady demand. Oats.—Businose in oats is vpvv quiet in 13unedin, with practically no sale i

There was a small entry at the weekly stock and produce sales yesterday, prices being on a. pair with those realised last week. Following is the range of prices:— Poultry—Hens 2s to 3s, roosters .'ss to os 3d, geese 6s, ducks 6s 3d. Pigs—Weaners 7s to 225, stores 24s to 375, breeding sow £2 15s

CHRISTCHUPvCH, This Day. Although this is a. slack time in the grain and produce market, business appears to be quieter than usual this year. The wet weather this week has interfered with business to a certain extent, but, apart from this, a general dullness pervades the market. The excitement in the wheat market has died down and there has been very little •business doing during the week. When the price of wheat started to go up recently, it rose as high as 6s a bushel on trucks. There are no offers at this price to-day, the best price obtainable being about 5s HXI a bushel on trucks. However, most growers who have wheat still on hand, are not prepared to accept less than 6s. They argue that, as thej' have held their wheat this long, they may as well continue to hold it for another few mdnths. This argument is perhaps not a very sound one for wheat cannot be held for nothing, even on a farm. Though there may not be any direct storage charges, there is insurance to be .paid for, and something has also to be allowed by way of interest on the money that the wheat represents. One reason why millers are not prepared to give 6s on trucks for wheat is because they are unable to raise the price of flour. Australian flour is still being quoted cheaply to New Zealand, the latest quotation from Sydney being £l2 os a ton f.o.b. ,If New Zealand millers advanced the price of their flour it would probably be followed hy heavy importations from Australia.

taking place, but on the other hand there are no offerings from farmers. A I Gortons are being quoted at 3s 6ci, f.0.h., s.i., but a penny less would be accepted by sellers. Odd parcels are still going forward to Australia, but these deliveries are in execution of former sales. North Island merchants are inquiring for undergrade Cartons, the value of those heing about 3s Id, f.0.b., s.i. Australia has not shown any interest in feed Cartons, merchants preferring to buy feed Algerians, even at higher juices. The present value to farmers for A grade Gartons is 2s Bd, and B grade 2s 4d, sacks extra, on trucks, country .sidings. Potatoes.—'The potato market has been fluctuating, with a rising tendency. Supplies are now being drawn from Canterbury as local stocks are exhausted. Present quotations from Canterbury are £4 15s, sacks included, on trucks. Sales are being made, locally at £5 10s to £5 15s, ex truck, according to quality. Reports from Auckland show that about 200 tons have been purchased from Tasmania, ft is understood that a higher price has been paid for these than is being asked by Canterbury. iSb far the importation has not had any effect on Canterbury prices.

Chaff.—The local demand for chaff is still poor. Gcod quality is selling at £4 15s to £5 per ton, .sacks extra, ex truck. Consignments are light, but there is sufficient available to meet the demand. Seeds.—All the seed markets are quiet with little business passing either for local requirements or for export.

MARKETS IN BRITAIN. LONDON, June 23. Wheat —Cargoes: Inactive and prices are unchanged. La Platas are 3d down on report of rain in the Argentine. Parcels: Prices are unchanged to 3d easier. At Liverpool fixtures are quoted: July lie 0-Jd, October 10s 11-Jd, (December 10s lOfd per cental. Spot trade is slow. Australian ex ship 295. Flour—The market is quiet. Australian ex store 425. Oats are steadier, but the demand for peas and beans is quiet. Sugar—Granulated 30s 10Jd. BRADFORD WOOL MARKET.

LONDON, June 23. At Bradford the market has a better tone. Quotations are harder, but spinners are not getting more business. Quotations are: 64's, 47d; 60's, 43Jd; 56's, 35d; 50's, 27d; 46% 21*d; 40'e,

DAIRY PRODUCE IN LONDON.

LONDON, June 23. gutter.—The market is quiet and prices are easier owing to heavy Continental production. Quotations': Danish 160 s, choicest Australian and New Zealand salted 16V)s-lfi(2s; unsalted, Australian 170 s, New Zealand 1745. Cheese.—The market is quiet. New Zealand white 84s, coloured 86s; Australian coloured 84s