GRAIN AND PRODUCE MARKETS

Press, Volume LXXXIX, Issue 27071, 20 June 1953, Page 10

GRAIN AND PRODUCE MARKETS

(By Our Commercial Editor.) A few inquiries are coming to hand from the United Kingdom for small seeds, mostly perennial ryegrass and white clover, but because of wide quotations, very little business is passing. Meanwhile, the New Zealand market for all small seeds remains firm, with a certain amount of business taking place. Stocks of small seeds generally are light, and present indications are that there will be practically a total clearance during the next six months, particularly for ryegrasses. Because of the short crop, high values are ruling for Montgomery red clover. About 5s per lb is being offered to growers for mother seed Montgomery. Prices generally are too high for overseas business, as Canadian seed is on sale in the northern hemisphere at about half the price asked for the New Zealandgrown product.

Record Potato Shipments Merchants are somewhat alarmed at the rapid rate at which potatoes are going into consumption. "We are eating into them at a pace which our supplies cannot stand for very long,” commented one merchant. "Shipments to the North Island from Lyttelton to date must surely constitute a record.”

This view is borne out by the fact that shipments from Lyttelton to June 15 totalled 139,228 sacks, compared with only 45,029 sacks for the comparable period last year. The total for the whole of last season was 72,000 sacks. In 1951, Lyttelton shipments totalled 33,185 sacks, to the middle of June, and in 1950 the season’s total was 75,000 sacks. Interim figures of Lyttelton shipments this year are as follows: Destination. Sacks. Auckland .. .. 34,881 Wellington .. .. 48,776 Napier-Gisborne .. 25,584 West Coast (N. 1. .. 29.987 Total .. 139,228 The onion market is reported to be very quiet, with nominal quotations at £2B to £3O. Buying is proceeding on a hand-to-mouth basis. Quotations to Farmers Quotations to farmers for various lines of small seeds and other produce are as follows : Potatoes.—Sutton Supreme, £2O a ton Red Dakota, ‘■’.l9 15s; anv other variety £lB 15s. All prices f.0.b., sacks extra. Wheat.—Tuscan varieties. Ils a bushel .on trucks. Premium of 6d for Marquis and Is for Hilgendorf. Ordinary price increments: April,. Id a bushel; May, 2d; June, 3d:. July, 4d; August, 4Jd; September, sd. Special increments, inclusive of ordinary increments for wheat held on the farm and delivered to the mills direct from the farm on which it has been grown: April, 3d a bushel; May, 4d; June, sd: July, 6d: August, 6d; September, 6d. Ryegrass (M.D.).—Certified perennial mother seed, 18s 6d a’ bushel; p.p., 18s; uncertified, 10s. Hl mother seed, 18s 6d , a bushel; standard, 18s; uncertified, 10s. Italian, mother seed, 12s 6d a bushel; standard, Ils 6dl uncertified, 7s 6d. , White Clover.—(M.D.) mother seed, 3s . 3d per lb; p.p.. 3s id; uncertified, 2s lOd Red Clover (Cowgrass).—2s to 2s 3d per lb, machine dressed. Cocksfoot.—ls to Is 6d per lb, certified depending on quality. Browntop.—(M.D.) 98/90’s,‘ 2s 9d per lb • Lupins.—7s to 7s 6d a bushel, on trucks 1 (sacks extra) Onions.—£3o a ton (sacks extra); price . nominal. i Malting Barley.—Preferred varieties, 8s 6jd a bushel; other varieties, 8s OJd (all • prices f.0.r., sacks extra). ; Cape Barley.—Bs Ojd a bushel (f.0.r.. sacks extra). DUNEDIN (New Zealand Press Association) > DUNEDIN. June 19. , Prices riffling for certified perennial and short rotation ryegrass have shown a firming tendency and a considerable volume of business has passed during the week, particularly in the latter seed. White clover, which showed a marked rise, now " appears to have settled at slightly less ■ than the peak prices attained. Little interest has been shown in cowgrass, but . certified Montgomery red clover is in- ’ quired for by buyers, but with definite _’ limits as to price.

STOCK SALES WAITAHA (From Our Own Reporter) HOKITIKA. June 19. The demand was keen for all lines of fat and store cattle at the Waitaha stock sale, when a total clearance was made at auction at satisfactory prices. The principal sales were:—on account C. Evarts, 4 cows at £l2 12s 6d to £l4 17s 6d; L. J. Linklater, 2 cows at £lO 7s 6d and £l4 12s 6d; R. Linklater, 2 cows at £23 17s 6d; O. A. Cropper, 9 steers at £29 17s 6d; J. L. Cropper, 4 cows at £9 2s 6d to £l6 2s fid: H Fountaine. 16 steers at £37 17s 6d; Messrs Molloy and Bergman, 7 18-month steers at £l7 17s 6d; M. and P. Molloy, 2 steers at £26 7s 6d; G. H. Ferguson. 5 runners at £8 17s 6.d to £lB 2s 6d. Sale of Breeding Ewes at Te Taho There was a keen inquiry for all lines of breeding ewes at the sale at Te Taho on account of the estate of T. C. O’Neil. The principal sales were: 100 f.m. ewes at 48s to 495,' 37 two-tooth ewes at 735. 48 six-tooth ewes at 67s 6d, 66 four-tooth ewes at 80s 6d, 36 ewe hogets at 67s 6d. and three wethers at 555. TOWN MILK SUPPLY Town milk suppliers had one of the best production seasons for many years, says a statement issued by the Canterbury Dairy Farmers’ Co-operative Milk Supply Company, Ltd. The net pay-out to the company’s suppliers for April and May - was 2s BJd a gallon for quota milk, plus 20 per cent, of quota, and Is 2d a gallon for surplus milk. For June and July do not operate and 2s BJd a gallon Xvill be paid for all first-grade milk supplied. In addition a winter feed allowance of 2d a gallon is payable, making a total pay-out of 2s IOJd a gallon. LONDON WOOL FUTURES (N.Z. Press Association—Copyright) LONDON. June 19. The London wool market futures for tops was quiet yesterday. Quotations are:—September: buyer 148 d, seller 148Jd. October: buyer 144? d, seller 145 d. December: buyer 1381 d, seller 138Jd. January: buyer 136 d, seller 136£d. March: buyer 1333 d, seller 134Jd. May: buyer 13ejd, seller 134 d. July: buyer 131 d, seller 132jd. September: buyer 1291 d, seller 130 d. October: buyer 128 d, seller 129 d. December: buyer 124 d, seller 126 d. BANK OF ENGLAND RETURNS (N.Z. Press Association—Copyright) LONDON, June 18. Latest returns from the Bank of England are:— Issue Department: Notes in' circulation, £1,539,100.000; notes in banking department. £61,300.000; other Government securities, £1.585.800,000; other securities, £700,000; silver coin, £2,500,000. Bank Department: Rest £3,500,000; public deposits, £16,400,000; bankers’ deposits, £268,400,000; other accounts, £73,500,000; Treasury special account, £44,500,000: Government securities, £336.800,000; discounts and advances, £6,900.000; other securities, £13,900,000; notes and coin, £63,200,000. Ratio of reserve to liabilities, 15.60 per cent. Bank of England discount rate 4 per cent.