MARKETS AT A GLANCE

Auckland Star, Volume LXVI, Issue 130, 4 June 1935, Page 4

MARKETS AT A GLANCE

TRADE IMPROVES SLIGHTLY.

0 " RICE MARKET VERY FIRM. '4 _____ '0 ;•] WHITE LEAD ADVANCED. 0 o "Auckland Star" Office, Tuesday, Juno 4. ' Wholesale merchants report that business is again showing a slight improve* y ment, and trade this week ie expected to '0 be fairly well maintained. General News. ' It has been quite noticeable during the past few months that many overseas markets are showing a gradually but ~) steadily firming tendency, and that the '0 position is being followed fairly closely 0 by storekeepers is shown by the more .Jj active interest that is being taken in both immediate and forward offerings of staple commodities. Rangoon rice in particular is exceedingly firm, this market in recent 5 weeks advancing rapidly. Most store--3 keepers have taken advantage of mer--0 chants' early forward quotations, and I fair business has been booked against the •g next July-August sailing. Regarding One 0 Crown sultanas—although advices have 7 been received that all orders in hand will I bo executed, the position is that c AfNtiI incuts coming forward will not be .•«&*/ 0 sufficient to meet the current demand, .. and the result is likely to be a shortage of stocks. The Control Board advise that they arc accepting further business for <i June delivery, and while merchants are l> booking further business they are natur--0 ally very anxious to obtain the full quota ** of bookings already accepted. Nearly the ■ same position applies to Lexia seeded I raisins, which have been very short for Ola considerable period. Supplies are coming 21 over by the Wanganella, but consignments have been cut down to such small 0 ccnipaes that considerable difficulty will be experienced by merchants in satisfying 6 the requirements of all their early As regards walnut meat, although cono' signments have come to hand during the G; last few weeks, supplies will be definitely 6 short before the new season's stocks arrive in December, and storekeepers are strongly recommended to take advantage of merchants' immediate offers. A new 6 line of English cigarettes is being put S on the market this week, and is expected to take on very well. As inserts in each packet, manufacturers are supplying q attractive Jubilee pictures. Albums for 0 collecting these pictures are being offered (3 by the various stores at quite a nominal figure, and should be an attraction. The local stock position for Australian dried J! j fruits is fairly well catered for just at !j present, particularly nectarines, peaches q and apricots. Quality is said to be abso(s lutely tip-top, and prices are considered ij to be quite reasonable. A well-known line of English malt vinegar was increased 0 in price last week by 1/ per dozen. SixG teenths sardines have been fairly short 9 in some quarters, and available supplies j; are much sought after. The eoap posi--5 tion is extremely firm, and owing to very 0 heavy bookings already placed with some B manufacturers, quite a number of inerchanfe are finding great difficulty in keeping pace with orders already in hand. A 6 popular line of English cigarettes previr. ously retailing >at 8d per packet was rej duced on the Ist instant by Id per packet ) retail. A well-known line of English sauce previously sold as a thin type is- now* > marketed in two varieties —thick and thin. Arrivals to hand from overseas during the past week comprise shipments of , Ceylon tea, Japanese 'safety matches, ', Madagascar Lima beans, eoap, peameal, j breakfast foods- (oatmeal, rolled oats, etc.), medicinal preparations, table rice. ~> unpolished rice, Carraway seeds, toilet \ soap and ointments, arrowroot, cigarettes, " English curry powder, herrings in sauce, L anchovy sauce, English essences (lemon, 1 vanilla, etc.), bloater paste, Anchovv paste, 0 calves' foot jelly, bulk dates. Califorriian , seeded raisins, cartons seedless raisins, j golden bleached raisins, prunes, peroxide, , etc. j Rice. Latest cables received in connection with the forward position of Kangoon ' rice for July-August shipment advise a further considerable firming in this market, another advance of £2 10/ per ton being recorded. Advices have also been received that Australian ground rice has been increased by £1 per ton. White Lead. The market for white lead has been " firming slowly for a considerable period, and cables received last week advise a further increase of 22/6 per ton on future shipments. • Ceylon Tea. At the usual weekly sale of Ceylon tea held at Colombo on the 28th ultimo, 2,750,0001b were placed under offer. Quality of medium and good showed a further improvement, being much above the average. The result of the sale showed that commons and low mediums were irregular I and medium and good strong and generi ally dearer. Actual price alterations were ! an advance of %d per lb on plain 8.0.P.'s and Id per lb advance on fine 8.0.P.'.5. Price broken orange Pekoes declined %d per lb and commons and first classic broken Pekoes remained firm at last ruling rates. Exchange is unaltered. At next 1 week's sale the quantity brought to auction is expected to total 2,500,0001b. Almonds and Nuts. Higher prices are notified for most {grades of nuts and almonds for both I prompt and forward shipment. Sicily ! almonds have advanced £6 per ton and Jordans are also firmer. Brazil nuts have been increased 25/ per ton for July and August shipments, while Sicilian Filberts, are also dearer to the extent of £5 per ton. All indications point to still higher prices ruling during the next six months. Australian Dried Fruit. Advices have just been received from the Australian Dried Fruit Control Board relisting quotations for Australian sultanas in all grades for June shipment at I the same prices as last, and merchants I are accepting business on this basis for I delivery to end of August. It will be j remembered that some weeks ago onei crown sultanas were withdrawn, and merchants advised that they , would only I receive a pro rata delivery of 25 per cent. .Since then efforts have been made to ' obtain further consignments against original orders, and it is now assumed thai I the balance will be executed this month. The Control Board advise that they are willing to accept further business on this grade, but that supplies are extremely limited. Resin. The market for American resin is fairly steady, with, if anything, a firming tendency. Quotations for "G" grade remain unchanged, but "N" is listed at an increase of 2/ per ton. Turpentine. Contrary to expectations, quotations for Pine TVee turpentine are fractionally easier this week, late cables showing _a reduction of %d per gallon. Canary Seed. Following on previous 'advices that the market for Argentine canary seed was very firm, late cables have been received showing that to-day's quotations are £1 15/ per ton higher than those ruling two months ago. Mail advices received state that the crop is .poor, and in the last cable advice received it was indicated that the market was expected to advance still further. Pepper. No material alteration has taken place in the pepper market of late, although 1 several attempts have been made by buyers . to do business at what they considered was a good buying level.. To-day's quota- , tions are practically at the lowest levels ' seen during recent years, and it is con- '. fidently expected that prices will go still | lower, particularly when the new crop comes on the market next month. Seeded Raisins and Sultanas. Agents for the Dried Fruit Control Board are now in receipt of information to the effect that 20 per cent of merchants • orders for seeded raisins are being shipped . to Auckland by the Wanganella,. flailing .

from Melbourne on June 12. Southern business is being taken care of by th* Waitaki, which is calling at Southern ports. By the same steamer further quantities of one-crown sultanas will bn shipped, but supplies are not anticipated to be sufficient for merchants' orders already in hand. Sago and Tapioca. There is very little to report in connection with quotations for sago and tapioca —cable advices were received stating that the market was uncertain. A fair amount of business has been put up by agents, particularly in tapioca, at prices slightly lower than listed quotations, and this business has been confirmed. Butter Beans. The market for Madagascar butter beans is still firming, latest cables advising I another increase of 4/6. per cwt. Barcelona Nuts. Quotations for Barcelona nuts in recent cables show a further increase of Cd per cwt. Raisins. Mail advices to hand state that there has been no fundamental change in the raisin market. Some small price concessions on natural Thompsons were made by the Cured Fruit Association of California, in order to assist their representatives in getting business in competition with reduced prices, which were put out by other shippers. While there has been a fair business domestic and a rather good business for export, buying in recent months has been very conservative. Stocks in glowers' hands have been reduced consistently, but the volume of business has not been sufficient to absorb about 12,000 tons still left in growers' hands. There is, however, a strong possibility that this tonnage will be taken out of the field in the near future, which should haw a decidedly strengthening effect on the market, especially as the total tonnage of Thompsons in all hands is much lighter than in recent years, probably some 30,000 tons below the unsold stocks a year ago. A substantial part of the remaining supplies will bo absorbed by the lieavy domestic business which is always dona for early fall shipment. Export business on spot stocks of golden bleached Thompsons has been quite steady, with the result that probably not over 10 per cent of the season's production is left unsold, and this in very few hands. Fancy seem to be entirely sold out, except for a few thousand boxes which can still be supplied. In regard to new crop—it is too early to venture even a guess as to the likely production for the new season. Following a number of dry years, there have been ample rains in California which ought to be beneficial to crops- from the standpoint of both quality and quantity. On the other hand, more or less damage has been caused by some conditions accompanying these rains, particularly strong winds and relatively low temperatures in certain districts. One thing, however, that can be stated definitely now is that the season is about three weeks later than last year, when crops were unusually early, so that spot stocks will have to suffice that much longer to take care of the requirements of the trade.

Wholesale Current Prices. Butter.—First grade factory, booked, ll%d per lb and lid per lb for prompt cash; second grade factory, booked, 10% d per lb and 10d per lb for prompt cash; farmers' separator, 9d per lb. Cheese. —First grade factory size (80's). 5%d per Ib pet; best quality medium (40's), 6%d per lb; first quality, 0d per Ib; loaf, 7%d per . lb; tinfoil, ftlb pats. 1/3 per lb. Honey.—Bulk, white, 6%d per lb; light amber, 5%d per lb. Bacon.—Ham, 1/1 per lb; rolled boneies; ham, 1/3 per lb; cooked whole ham, 1/5 per lb; cooked rolled ham, 1/6 !>er lb; cooked pressed ham, 1/8 per lb; bacon sides, lid per lb; rolled sides, 1/0% per lb; rolled middles, 1/1% per lb; shoulders, 8d per lb; rolled shoulders, 9%d per Ib; cooked pressed shoulders, 1/ per lb. Lard, bulk, 6%d per lb; pats, 7d per Ib; dripping, 5d per lb. Linseed.—Crushed, 24/9 per cwt; whole, 23/9 per cwt. 1-inseed Meal.—l 2/9 per 1001b.

I lour .—Local: 2001b sacks, £14 12/6 per ton; lOO's, £15 10/ per ton; SO'e, £16 pet ton; 25's, £16 15/ per ton; 12%'s, £17 2/6 per ton; 6%'e, £18 2'6 per ton. Malt.—Crushed, 10/3 per bushel; whole white, 9/6 per bushel; whole black, 11/0 per bushel. .

Twines.—Seaming, first quality, 2/3 per lb: second quality, 1/11 per lb; binder, 49/6 per cwt.

Bluestone.--27/6 per cwt.