COMMERCIAL NEWS

Ashburton Guardian, Volume 48, Issue 80, 14 January 1928, Page 7

COMMERCIAL NEWS

STOCK AND PRODUCE. THE ASHBTJRTON MARKET. Entries in the stock and produce market yesterday were small except m the case of vegetables, of which there was a large supply. There was a small attendance of buyers, mainly due to the commencement of harvesting operations. . , In the stock section no baconers were yarded. Following is the range of prices:— Poultry—Hens: 2s to 3s 6d per pair; roosters: 2s 6d to 4s per pair; geese: 8s per pair. Pigs-HWeaners: Us to 15s; stores: 18s to 34s 6d. _ Produce and Fruit—Peas: Is per peck; rhubarb: 6d per bundle; black currants: 5d per lb; gooseberries: ltd to 2d; peaches: 2£d, 'dessert to potatoes: Hd; apricots: 3d to 3|dcherries: 8d and 9d; raspberries: 9d; bacon: lOd.

GRAIN AND PRODUCE. CHRISTCHURCH MARKETS. (Per Press Ai-suciation ) CHRISTCHURCH, This Day. For the time of the year, business in the grain and produce market is quiet. This appears to be due mainly to the fact that the harvest this year is from three to four weeks later than usual. The frequent rain, with rather cold weather experienced in November and December, retarded the crops, but they did not suffer any injury as a result. In fact, reports from all parts of the province are to the effect that, on the whole, crops are looking remarkably well, and, provided the weather is "favourable for the next couple of months the yields should be well up to the average, and probably in the case of some crops they will go above the average. What is wanted now is a good spell of warm, sunny weather, lhis will help to ripen olf the crops and bring them to maturity. The area under wheat is larger this year than last, and to date the crops have done remarkably well. The yield promises to be heavy, and it may not fall far short of last season's, which was the highest for many years. The wheat crops have filled out well, and generally they are clean and free from disease. lM oat crops have done well, and, although they are later this year than usual, a <rood yield of oats is practically assured. The area under oats is smaller this year than last, but, with the limited demand that exists for oats nowadays, it is well that there has been a reduction in the acreage, Ihere is also a smaller acreage of barley. Last season the quantity of barley produced was far in excels of requirements, with the result that there will be a large carrv-over into the coming season, lhe brewers, therefore, did not enter into many contracts with barley-growers lor this year, hence the marked reduction in area In common with the other drain crops, the barley crops are reported to be doing well. The crops of Partridge peas are patchy, but it is anticipated that the average yield will be about equal to the usual, lo date t,u potato crops have come along nicely and, given favourable weather, the yield should be quite satisfactory. * No new season's produce has yet come on to the market, but the forward business that has been done gives an indication of the prices that may rule. Sales of Tuscan wheat have been made at 5s 9d a bushel on trucks, delivery when ready. Millers, however, are not keen to make further purchases at this price. Farmers, on the other hand, seem verv keen to sell, and it is possible that if they continue ottering their wheat for sale, they will force the price down. With the new sliding scale of duties on imported flour, wheat should not go Wow 5s 6d a bushel on trucks this year, but if growers rush their wheat on to the market they may force the price below this figure, the danger will be accentuated it the harvest! as seems likely,.is a large one In the meantime, it is said, growers would be well advised not to sell then wheat forward. Any rush of offers to sell would not operate m the interests of the growers. Indications that some merchants are expecting, wheat to go below the present price is afforded by the fact that milling wheat has been sold forward at 5s a hushel,. f.o.b and fowl wheat at 5s 9d. It is presumed that the merchants who have made these sales have not bought wheat-to cover their commitments. It is reported that sales of A grade Gartons have been made at 3s 5d a bushel f.0.b.5.i., and of B's at 3s Id This is equivalent to 2s 6d to Jo. a bushel on trucks. Therefore, it does not appear as if Garton oats are going to be any better in price than they were last season. There may, however, be a better demand for Algerians, as it is expected that the North Island will draw more largely on Canterbury for Algerians this year and not to the usual extent on Australia. Owing to the comparative fauure ot the potato crops in the Pukekohe district, there is a good and apparently 1 increasing inquiry from Auckland for Canterbury potatoes for delivery as early as March. For March delivery, local merchants are offering growers £4 a ton on trucks, while for later delivery the price is £3 10s. Some growers are selling at these prices. For onions, merchants are offering £4 10s to £4 12s 6d a ton on trucks, March-April deliverv, but growers are not accepting these prices readily. They are holding out for £5. The onion crops are not doinrr too well this season, and, further' the area is less than was the case last year. These factors are, no doubt, making growers firm holders. As far as seeds are concerned, there is very little doing. The cocksfoot crops are late this year and harvesting on the Peninsula will probably not begin to any extent for another week •yet. Sales of Partridge peas have been made on a basis of 5s 9d to 6s a bushel on trucks, but the tendency is now for peas to ease in nrice, owing to the fact that the demand from London has CGcISC'Q* As far as old season's produce is concerned, there is very little doing, Of course, the bulk of the old season s stuff has been cleaned up, and there is little left for merchants to handle. There is a good demand for old season s .wheat for fowl feed, and sales have been made at 6s lid a bushel f.0.b., sacks extra. While there is a considerable carry-over of old season's wheat, it is mostly in the hands of millers, and accordingly wheat for fowl

feed is hard to get. There is a very fair demand for old- season's chaff from the North Island, and merchants have been able to clear their surplus stocks at £5 10s a ton f.o.b. . A limited quantity of barley is being grown on contract this year, but not at a fixed price. The only arrangement with regard to price was th'at it should not be less than 4s a bushel on trucks and not more than ss. There is such a big carry-over of barley that the brewers are still carrying heavy supplies. At present it is difficult to say what the price of "free" or "contract" barley will be. The following are quotations tor produce, to be paid to farmers, sacks extra except where otherwise stated: —

Wheat—Old season's 6s 3d to 6s 6d a bushel; new season's 5s 8d to 5s 9d, February-March delivery. Oats—New season's Gartons 2s 6d to 2s 9d a bushel. Chaff—£3 5s to £3 10s per ton. Potatoes.—£4 per ton, March delivery; £3 10s April-May-June delivery. 'Onions—£4 10s to £4 12s 6d per ton, March-April delivery. Red Clover—Bd to lOd per pound. White Clover.—7d to 8d per lb. Partridge Peas —New season's 5s 9d to 6s a bushel, delivery when ready. Perennial Ryegrass—2s 9d to 3s per bushel. - _ Italian Ryegrass—ls 9d to Is lid per bushel. , , Cocksfoot—6d to 7Jd per pound. Linseed.—Up to £l4 10s per ton. Bran.—£s 10s per ton f.o.b. southern ports: 10s extra for smaller packings. Pollard.—£7 10s per ton f.o.b. southern ports; 10s extra for smaller packings. . Flour. —Local wholesale price £l7 10s per ton for 2001 b sacks, with increments for smaller packings. Price for shipment, £l7 10s per ton, freight paid to main New Zealand ports.

DUNEDIN. DUNEDIN, January 13. Oats—Several inquiries have been received for oats, prompt delivery., but as few stocks are held in Dunedin buyers are finding it difficult to secure their requirements. Although the market is firm, there has not yet been any advance in price. The chief inquiry is for B's, which are worth 3s 3d f.0.b., s.i., with A grade at 3s 6d. Seeds—There have been some inquiries from the North Island for seeds for autumn sowing, but the volume of business going through is on the small side. Fair-sized stocks of all lines are held by merchants, and there is an anxiety to place these to clear the board's before the new season's seeds come on the market. Business in the grain and seed markets has not yet settled down after the holidays, and few transactions are going through. Wheat—Both millers and merchants are waiting for the returns from the new season's wheat crops to be more clearly known before operating. The Canterbury harvest will be later than usual, and it is not now expected that the new season's wheat will be available before the end of February. As previously reported, the crops are looking exceptionally well, and provided nothing unforseen happens, good yields are assured. In the meantime, the only wheat changing hands, prompt delivery, is for poultry purposes. Most of the local stocks are depleted, as holders are anxious to quit their supplies, it being considered that prices fur tae new wheat will be lower than those now ruling. The current value of good whole fowl wheat is 6s lOd per bushel, sacks extra, delivered Dunedin. There is not much locally-grown wheat, however, available at tbis price, and if wheat has to be drawn from Canterbury the market will improve, as 6s 10d, packs extra, on trucks, is being asked by Canterbury merchants for the s/aall quantity available there.

LONDON REPORT. LONDON, January 12. Wheat—Cargoes opened steady, occasionallv advanced 3d, and closed dull at late,rates. Parcels failed to attract attention. Quotations are unchanged at 51s for spot and 51s 3d for Fcbru ary-March shipment. Liverpool futures are quoted as Under:—March. 10a 3£d per cental; May-July, 10s 2£d. The spot trade is quiet. Flour —The market is shnv and micbtnged. !-!irs —The market is fir-n Peas and beans—The market is quiet DAIRY PRODUCE IN LONDON. LONDON. January 12. Butter—The market is dull. Choicest New Zealand salted, 156 s to 158 s per cwt; Australian, 1545; New Zealand, 160 s to 1625; Australian, 156 s i Danish, 1745. Saturday's flood caused damage to some hundred's of boxes of Australian butter at Hay's wharf and Hibernia close at Ash burton to-day, at 5 insures against fire damage in warehouses other than cold stores, consequently the loss falls on the owners of the butter.