COMMERCIAL NEWS

Ashburton Guardian, Volume 48, Issue 86, 21 January 1928, Page 7

COMMERCIAL NEWS

STOCK AND PRODUCE. THE ASHBURTON MARKET. eft* There was a small entry in the stock section of the Ashburton 'market yesterday and prices were a little brisker than last week. . Fruit is lower m price than at the corresponding period last year. inc. sale of produce was, however, a good, one, prices "being similar to those ruling last week, except in the case of peas which are down to a shilling a peck. Following is the range of prices :-- Poi>fry—Hens: From 2s 9d to 6s sd; roosters, 2s to 6s;. ducks, 4s lOd to os 6d, all per pair. Pigs—Weaners:'los to 15s; stores, 15s to 255; porkers, 30s to 40s: baconera, ,36s to 435. . Fruit and Produce—Cherries. 4d to 6d • cabbages, 2d and 3d; potatoes, l§dj rhubarb, 6d oer bundle; peaches, 2id to 3*d; apricots, 3d and 3*d; raspberries, 9d; .cauliflowers,. 4d" to 6d ; black currants, 4d; tomatoes, 9d and *lUd; bacon, lOd. GRAIN AND PRODUCE. ■■'*'■■ ' CHBJISTCHURCH MARKETS. (Per Press Association.)

OHTMSTCHURCH, This Day. Business in the grain .and produce market is beginning to brightenjip. No new season's produce has yet come hand, but a considerable amount of torward buying has been done. It is expected iLW month when the new stuff starts to come on to. the market, the volume of trade will increase con^ 81 Farmers are still displaying considerable anxiety to sell their wheat forward, and millers are getting far moie offered to them that they are disposed t<> buy. Already millers have bought considerable quantities of wheat torward. In fact, it is probable that more wheat has been bought than was the case at this time last year, when millers were anxious to get wheat owing to the fact that there was no carry-ovre of old esason's. The anxiety of growers to sell forward is understandable, because present indications are that wheat will not be any higher than 5s 9d a bushel on trucks this year. The area under wheat is considerably larger than it was last year, and, as the average yield promises to be high, it seems likely that there will be more wheat available than is required. The reluctance of millers to continue buying wheat is as easv to understand as the anxiety of growers to sell. Apart from Any other consideration, millers are faced with the difficulty of financing large purchases of wheat. A good deal of wheat has. been bought at 6s4)cP a bushel on trucks, but. this week the offer has been reduced to os Bd, and it is likely to come lower if wheat continues to be offered as freely as has been the case since the New "fear. With the prospect of a falling market, merchants are naturally not inclined to speculate in wheat. As far as the wheat crops are concerned, reports from most parts of the province are to the effect that they are lookino- well. -"Take-all" has made its appearance in some crops, but, so far, the ravages of this disease have not been very serious, truing-the province as a whole. There is als° scan©' rust about, but it is far from boing prevalent. Owing to the lateness of the harvest this season, very few -wheat crops have been cut m Canterbury so far, and it will probably be the middle of next month before new season's wheat comes on to the market in any quantity. Wheat is the line that is receiving most attention in gram and produce circles at present. Incidentally, there is quite-a good demand for old season's wheat foiCfowl feed. A line of old season's wheat was soldi the other day at 6s 8d a bushel on trucks, and fowl wheat is being quoted- at b's lia f.o.b. This high price will, of course, disappear once new season's wheat is ready. Not much interest is being taken in new season's oats. Owing to the limited demand for oats, merchants are not inclined to buy forward to any extent. Garton oats this year will probably open at 2s 6d to 2s 9d a bushel on trucks. Cutting is now general among the early oat crops, but, so far, no samples have come forward to the market. The forward market for potatoes remains unchanged. Inquiries are still being received from Auckland, thougn not so many as last week. Auckland merchants are anxious to buy potatoes for March delivery, but local brokers are disinclined to sell for that month, owing to the uncertainty of any great quantity of potatoes being ready so early in the season. For March delivery the offer to growers is £4 a ton on trucks, and for later delivery it is £3 10s. Quotations for onions have improved somewhat, and it is now possible to obtain £4 15s a ton on trucks, delivery when ready. Onion , growers, however, are not accepting this price readily. The onion crops, like most others, are late this year. There is very little doing in :-eecis. With fairly large carry-overs from last season, merchants are not keen to buy new season's seeds. The cutting of 'cocksfoot has begun, but on a limited scale so fir. Ryegrass crops are now being 'cut. It is difficult to say what the price of barley will be this year. No deifaite contract,' the only stipulation being that it should not be more than 5s a bushel on trucks arid not less than 4s. Brewers are amply stocked up with old season's barley, and, although, the area under barley is much less than it was last year,' farmers, who have grown barley without a contract, may find difficulty in disposing of it. The forward market for partridge peas is dull. A week or two ago a considerable quantity of peas was sold forward to London, and local merchants bought forward from growers to cover .their contracts, Since then, however, the demand from London has absolutely ceased,'and, while this is the case, merchants are not willing to make further purchases of: peas. The price of peas "has, of course, slipped back, and rominally they are now worth not more than 5s 9d a bushel on trucks.

The following: are quotations for produce, to be paid to farmers, sacks extra except where otherwise stated:— W heat—Old season's 6s 3d to 6s 6d a. bushel; new season's 'ss 8d (Tuscan), February-March delivery. _ Oats—New season's Cartons 2s 6d to 2s 9d a bushel. Chaff—£3 5s to £3 10s per ton Potatoes.—£4 per ton. March deliverv £3 10s April-May-June delivery. Onions—£4 10s to £4 15s per ton,

delivery when ready. * Red Clover—Bd to lOd per pound. White Clover—7d to lOd per pound. Partridge Peas —New season's 5s 9d per bushel, delivery when ready. Perennial Ryegrass—2s 9d -to 3s per bushel. Italian Ryegrass—ls 9d to Is lid per bushel. Cocksfoot—6d to 7£d 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 .20. Not much business is passing in old season's wheat, most of the farmers having now placed their stock si. According to the statistics published at the end of November there was then a fair quantity available, but.this must now be in millers' hands, as merchants are holding small lots* only. Interest is chieiily centred in the coming season's crop, and sales of mixed lines for early delivery have been reported from Canterbury at 6s on trucks, sacks extra. Tuscan alone has been sold ,at 5s 8d and 5s 9d, sacks extra, Canterbury sidings. On the other hand, millers are not keen to operate for deliveries later "in the season. Velvet is the only variety inquired for for later delivery, as it is anticipated that supplies" will be short. There is a tendency on the part of. Canterbury merchants to sell fowl wheat forward, and quotations have been made as low as 6s 10s, f.0.b., sacka extra, March delivery, and : onwards. Borne lines have been placed with North Island merchants at this figure. A fair inquiry exists for oats, hut with the small. stocks' available practically no business is passing. In spite of the better demand, prices have not improved' locally, as North Island merchants have been able, apparently, to fill their requirements l from other ports. A's are worth to-day 3s 6d f.0.b., 5.i.,and B's 3s 3d, these prices being equivalent to 2s lOd and 2s 7d respectively, sacks extra, on trucks country sidings. Sellers are offering oats at the above prices for spread delivery April-Sep-tember, and several parcels have changed hands. There is not, however, the same amount of speculative business in pats this season, consequent on the uncertainty regarding the wants of Australia.' It is not yet clear whether Australian 'merchants will require to draw to any extent on New Zealand for oats. ■• .i ■ * The local consumptive demand for chaff is* very", limited, but only small consignments are coming to the market. Prices remain steady and the value of best quality is maintained at £5 os per ton, sacks extra, ex truck The small supplies required in the local market are mostly drawn from. Canterbury- . .. . , , ■■'• " • ' Following on bush fires m the North Island there has been a better inquiry from there for all kinds of seeds. Merchants Bold ample stocks, and are taking the opportunity to endeavour to clean up their holdings before the new season's seeds come in. The first line of new season's ryegrass, a line from Canterbury, has already reached the Dunedin market, and it will'not be long now before offerings are general.

DAIRY PRODUCE IN LONDON. LONDON, January 19. "Butter.—The market is very slow, Danish, 170 sto 1725; choicest salted New Zealand, 152 sto 1545; exceptionally, 1565; Australian, 148 s to 152 s per cwt. Unsalteds are from 4s to 6s rjremium. A ."• . . vCheese.—The defnand is quiet. Mew Zealand SOs, Australian, 88s. In an interview a leading importer ot dairy produce attributed the unsatisfactory' butter position partly to the disuse of preservatives, as, owing to the poor keeping quality of the butters, retailers were only buying from hand to mouth, showing preference for the fresher made Continentals. . . Some' importers are advising producers to urge the Australian Government to ask the British Government to remove the ban on the use of preservatives. English and Scottish cream producers who are suffering similarly have already approached the Ministry on the same subject.