MARKETS AT A GLANCE.

Auckland Star, Volume LIX, Issue 119, 22 May 1928, Page 4

MARKETS AT A GLANCE.

BACON AGAIN RISES IN PRICE.

WALNUT MARKET ADVANCING,

"Auckland Star" Office, Tuesday, May 22, 1928,

Business during the past week has been fairly quiet, but good volume has come to hand for delivery "as 25th," and it is anticipated that the balance of this week will prove to be very busy. General. Owing to lack of shipping facilities from Nelson, hops have for some little time been in particularly short supply on this market. Packers also report that they are holding only light stocks, but replenishing quantities due to arrive in Auckland during the present week will ceitainly prove very welcome. Canadian canned peas last week again landed to a bare local market, and as a result this populai delicacy is very quickly moving into consumption. A new seedless raspberry jam is now being locally manufactured, the seeds being entirely extracted by special machinery. Prices are approximately Id per lb above those ruling for the usual raspberry variety. A rather popular line of tobacco, formerly offered to consumers in 2ok packets is now being put up in 2oz dome tins. A fairly well-known brand of cocoa has been advanced in price all round by 7d per lb. A local manufacturer is now packing a small (6oz) bottle of chutney, which can be retailed at an attractively low price, and should undoubtedly meet with good demand. Bacon. Most local enrers last week again advanced bacon a further penny per lb. Sicily Almonds. Following the sharp advances which have been advised during the past month, Sicilj almonds have again moved forward a further £12 per ton. Both old season's and new season's are affected, and latest cables from London advise that the higher price is being quoted on a firm market, and also that no early easing of present values is to be expected. Ground Almonds. In sympathy with the_ present higher values of Sicily almonds, it is confidently expected that the ground almond market will make an advance. Present indent prices, however, do not yet reflect such anticipated increases, and some fairly considerable business has been passing. Many retail merchants are taking full advantage of to-day's low quotations for forward shipments, and, in order to cover themselves before any rise is announced, are buying their requirements for some time ahead, at present low values. Jordan Almonds. The market on Jordan Almonds is advancing, and latest quotations to hand advise higher prices to the tune of £3 per ton. Brazil Nuts. The Brazil nut market is at present being quoted at further slight advances on previous ruling rates, and it is considered more than likely that further increases will be advised as storage and interest charges accumulate. In dealing Brazil nuts, shrinkage is usually an exceptionally heavy item in landed cost, so that as a natural consequence quotations for forward shipments generally _ show a premium amounting to approximately 10 per cent over prices given for prompt shipments. ChMM. As a natural reflection of increased prices in English markets, local quotations for Cheese have been advanced, and present indications seem to point to to-day's higher levels being maintained for some time. Although the London market is reported to be fairly quiet, there are no advices of any substantial reductions. Bulk Dates. Some splendid samples of Sair bulk dates have recently been landing, and the quality compares very favourably with some of the higher priced varieties. Present quotations for both prompt and forward shipment of bulk dates continue at the high price level rcachcd some two weeks ago, and if local selling prices were to be based on to-day's replacement cost they would require to be advanced by approximately %d per lb. Forward commitments will probably keep local prices at present levels in the meantime, but a definite hardening of the market must be expected as soon as available stocks are exhausted. Oatmeal. Keen competition in the early autumn amongst Southern millers was responsible for slightly lower prices. Now, however, quotations have firmed, and Southern brands are being quoted at an advance of 10/ per ton on the ruling rates of a month ago. Preserved Ginger. Imported Chinese preserved ginger is meeting with renewed favour again, as the c.i.f. rate from Hongkong is now almost at a record low price. Merchants have taken advantage of this, and some good business has been sent up for prompt shipment. Norwegian Slid (Sardines). Prices for the new summer pack have now been announced by most exporting houses. These show on an all round basis approximately five per cent better buying than last year, and as local stocks, particularly in sixteenths, are running rather short again, business has been done for immediate shipment from Stavanger, due here about July. Pepper. Pepper has been temporarily withdrawn by some Singapore shippers owing to supplies being difficult to obtain for immediate shipments.

Hemp SMd. The market for Japanese hemp aeed is advised by cable as very firm, and likely to go higher. Business just sent up to Kobe could only be accepted at an increase of £3 per ton, above previous rates, and even then shipment is offered for July only.

Kordofan (Gum Arablo). This item is showing a firmer tendency. London cables last ,/eek advise a rise of £1 per ton for prompt shipment. Cloves (Zanzibar). Indent rates for prompt or forward shipment show a revision in the c.i.f.e. rate of 2/ per cwt higher. Coriander Seed. New crop (Moroccan) has been listed by agents at an advance of 5/ per cwt on the last rates quoted. Shipment of new season's from London commences July-August. Walnuts in 8lt«ll. Mnnchurian, both ordinary and paper shell arc now offered on a rising market, nn increase of £1 per ton being advised. This is the second rise in a few weeks and as all shipments are made from Tientsin, around which the civil war is raging, further increases may be expected. The latest advice regarding New Zealand walnuts is that the crop will be very light and is mainly a failure in the Okaroa district. Shollae. Cables from Calcutta lust week show this line is much firmer in price since busily? waß done for the April direct steamer, both A.B.T.N. quality and Buttonlac have advanced 3%d per lb for shipment either Irteamer a '' a or July-August A . Fanius. market* ££&" i# c «®«*rned, the fungus I hav. probably • bu • ere Knee our l»«t ■ »u.:_ * . uying inquiries WMttkd SMSSSL l&outodly the in CUM him bad

a very serious effect on this market and it does not appear likely that the position will have an opportunity to improve for some considerable time.

Pelts. The freezing industry has lately been enjoying a period of particularly active trading in pelts and the average prices have been considerably higher than those ruling last season, which has naturally induced fairly free selling. There has been quite a noticeable depreciation in the number of sheep and lambs killed this year throughout New Zealand, particularly in the South Island and this fact has helped very materially during the latter part of the season to stimulate the market into fresh activity. Sheep Skins. Recent advices are to the effect that London sales show a very firm market on sheep skins, America having come in fairly freely with crossbreds and France having also bought a considerable amount of short wools. This, together with good general buying by English operators, has caused a very -strong position. Compared with this time last year the sheep skin market shows a considerable advance. Certainly the market did not move forward in proportion with the rise in all grades of wool, but although the advance was delayed, still it has been apparent for the last two London sales. Hides. Since last writing there has been quite a distinct weakness apparent in the hide market and prices favoured by buyerß to-day are between a halfpenny and a penny per lb below those ruling about a fortnight ago. In consuming quarters it is reported that the trade in general is not prepared to operate except at definitely lower figures, and although it is not anticipated that there will be any serious debacle so far as prices are concerned, the probability is that the market will set itself at rates just a little under to-day's values. Wholesale Current Prices. Butter.—First grade factory, booked l/QM per lb and 1/6 per lb for prompt cash; second grade factory, booked 1/4% per lb and 1/4 per lb for prompt cash; fanners' separator, 1/3 per ib. Cheese.—First grade factory, medium size, mild, 9%d to 10% d per lb; loaf, ll l /4d net per lb; Chesdale, 61b bars. 1/2 per lb; 7oz packets, 9/6 per dozen; Crest, 4/6 per dozen. Bacon.—Hams, 1/4 per lb; rolled hams, 1/5% per lb; boned hams, 1/5 to 1/6 per lb; bacon sides, 1/ to 1/2 per lb; rolled sides, 1/3 per lb; middles, 1/4 to 1/5 per lb; shoulders, lOd to lid per lb; rolled shoulders, 1/ to \[\ per lb; lard, bulk, lid per lb; pats, 1/ per lb.

Flour. —Local, 2001b sacks, £18 per ton; 100s, £18 15/; 50's, £19 5/; 25's, £20; 12%'s, £20 17/6; 6%5, £21 17/6; Southern flour, 200lb sacks, £18; 100's, £18 15/; 50's, £19; 25's, £19 10/; 12%'s, £20 5/; 6 1 / i's, £20 17/6; all less 2% per cent discount. Linseed.—Whole, 22/6 per cwt; ground, 23/0 per 1001b. Malt.—Crushed, 12/ per bushel; whole white, 12/ per bushel; whole black, 15/6 per bushel. Twines. —Seaming, 3/9 per lb; binder, 8d per lb". Peameal. —13/ per 1001b. Linseed Oil Cake Nuts. —14/ per 1001b. Linseed Meal. —16/ per 1001b. Bluestone.—33/ per cwt. Maize. —7/ per bushel.