MARKET REPORTS.

Lyttelton Times, Volume CIX, Issue 13137, 27 May 1903, Page 8

MARKET REPORTS.

GRAIN AND PRODUCE. The grain, market is at present in a very unsatisfactory position, and little business is being transacted, owing to the refusal of farmers to part with, their stocks at prices ■which merchants are in a position to offer. Wheat ia- particularly dull and very few" lines have changed hands since last report. In the meantime millers and merchants decline to raise their limits. Regarding the south the “ Otago Daily Times ” of last Friday reports as follows The local grain market is in an unsatisfactory condition. Deliveries are, for the time of year, exceedingly small, the quality is not too satisfactory, and‘there is a considerable margin between buyer and seller in their ideas of values. Consequently, grain brokers are loud in their complaints of, the dulness of business and the difficulty of effecting sales. The wheat market is without quotable change. The increase in the number of indifferent samples coming to hand strengthens the growing belief that really prime lines of milling Velvet will be scarce towards the end of the season. At the same time it is probable that medium and_ inferior lines will ease. At the present time, although millers oannot buy, prime Velvet at under 3s lid, on trucks, Oamaru, they will give up to 3s lOd for samples slightly affected by smut or mixed with seeds. The tendency seems to be in the direction of prime milling Velvet advancing and medium lia?s receding. There is no quotable alteration in values, which remain at the same level as last w’eek, viz., milling Velvet 3s lOd to 3s lid, on trucks, Oamaru; and mixed l lines, 5s on trucks, Ashburton, or 4a to 4s Id f.0.b., Lyttelton (sacks extra). . . There is nothing fresh to report in the flour market, and although all sorts of rumours are floating about as to possible developments, and many mysterious meetings have lately taken place between millers and bakers, yet, so far as is known, nothing definite has yet been arrived ait. There is no alteration in the price of flour. . . Chick wheat is again easier, and, sales for shipment have been made at 3s 6d, and for local consumption at 3s 6d, Dunodin, fox good, whole fowl feed. It is thought that when the market comes back to 3s 3d or 3s 4d there will be good business done with Sydney.” The inquiry for oats of all classes as as keen as waj the case last week, hut even at the increased rates quoted farmers are not disposed to do business. There is apparently a feeling that to fulfil South African orders, made some time back, merchants must accept holders’ terms, and this tends to restrict business in the meantime. That the orders referred to will be fulfilled at a loss is beyond question. This experience is not "being* ignored, and a local merchant who. received a cable message from South Africa this week asking for a quotation for forward shipment has declined to quote under existing conditions. Concerning the unsatisfactory condition of the Southland crop it has been stated that the initial samples are to be cancelled and' tbe lines re-graded in order to enable business to be transacted on a satisfactory basis. The “ Otago Daily Times ” has the following :—“ The oat market is very irregular. For the most part holders exhibit great firmness, and ask full values, but, on the other hand, some sales aro reported at Id to lJ)d per bushel under current rates. There is a good inquiry from Australia for forward business right up to September delivery, but buyers will not give more than Is 10d f.o.b. (sacks in). At present values it would cost nearly Is IOJd to put the oats on board, and; shippers are chary of speculating in futures. Another great difficulty is the question of grades. The northern grades are fairly high, whilst the Southland grades are not yet fixed, and buyers aro largely working on last year's grades, or even lower. Thus, what one man will pass as B grade, another refuses to accept except as a good G grade, and there is a lot of trouble in store should the market slump. The deliveries of oats coming forward from the south are vary soft, and show the effect of the bad season. Many farmers who have good lines of oats are storing in anticipation of better prices. In the north Danish are quoted at Is bid and Gartous up to Is 8d on trucks. In the south B grade) is quoted at Is 7d, Is Vjrd and Is Bd, on trucks, country stations, according to distance. For lines of extra, prime milling Sutherlands Is lid, Dunedin, is asked, and for A grade, Gartens, Is 10d. Recent Southland advices state that the weather is still very broken and unfavourable for getting ia the balance ef-the crop. The oat market

is looked upon as unsatisfactory, as buyers are afraid of the colour. The best oats are coming into the market first, but the discoloured samples will increase later on, and are likely to depress the market. It has been a difficult matter for growers to obi tain Is 6d at country stations, sacks extra, for tho lots that have been sold. During the past week 3000 sacks of oats were shipped from the Bluff to Melbourne, and 4600 sacks went northward.” Fair business is being transacted in oatsheaf chaff on the basis of £2 15s per ton. The potato trade is improving, and the Sydney market is taking a quantity of early varieties for seed purposes. Partridge peas are being bought readily at 3s 9d per bushel. In dairy produce eggs are more plentiful. Following are local quotations: — ■Wheat.—Hunter’s and Tuscan) 8s Sd, Pearl 4s at country stations. Oats.—Milling Canadians is 9d to is lOd, Sparrowbills, Duns and; Danish Is 8d) to is 9d at country stations. Barley.—Malting 3s to 8s 4d. Oateheaf Chaff.—£2 15s to £3 at counliy stations. Potatoes.—£2 10s; early varieties £3 10a ot' country stations. . Onions.—£2 10s at country station*), m strings £1 extra. Flour.—Millers quote roller £lO (251 b bags £11), pollard '£6, bran £4. Oatmeal.—£lo 10s. Peas.—Partridge 3s 9d to 4s, Blue Prussians 5s 6d to 5s 9d. Beans.—2s, 9d per bushel. Seeds.—Ryegrass, farmers’ lines 2s 3d; to 3s, Italian ryegrass, farmers’ lines 3s to 3s 6d. Cocksfoot, 3d to SJd, very light from 2Jd. Dairy Produce. —Cheese, dairy 5d to 6d, factory 5Jd to 6i, cased’ f.0.b., Lyttelton. Butter—Fresh local factory IOJd, 'best dairy 9d, salt (in boxes) Bsd. Hams and bacon, factory 9d to 9Sd, cased 'f.o.b. Fresh eggs Is 9d per dozen, preserved Is 3d. SOUTHLAND. [From Our Correspondent,] INVERCARGILL, May 26. During the past week the prices offering for oats have improved somewhat, and some merchants were buying at Is 7 ; jd for B grade on Saturday. It is understood, however, that there were certain business considerations governing these sales which prevent them from being taken as a true guide to tho local market. To-day Is 7d for good lines, B grade, is being offered freely in the local market,' while in Gore the same quality is worth a halfpenny more. The Victoria, sailing for Melbourne to-day, takes 10,000 sacks for that port and l Fremantle, and the Essex, arriving to-mor-row, will load 8500 sacks . for South Africa. The quality remains much above what might be expected in such a season as the past has been, and rejects are not heavy. The wheat market remains steady at last week’s quotations, with few sales being recorded, the fanners generally regarding that to remain in l the straw throughout the winter will considerably improve and brighten their samples. Potatoes have risen during the week from £4 to £4 10s. Onions are steady at £6 to £6 10s, chaff £3 10s. The grain traffic on tho Southland section of the railways last week amounted to 58,012 sacks, making a total so far for the season of 147,108 sacks. Compared with the, figures of the corresponding period last year this shows a great falling-off. Last year’s figures TC-ereFor the week 80,296, making , a total of 433,821 sacks carried up to May 24. EA.NGIORA. At the Rangiora market yesterday 2400 sheep, 60 cattle and 100 pigs were yarded, and there was a good attendance of buyers. Prices were-Fat iambs 11s 9d to 14s 6d, fat ewes 11s to l'3s 3d, merino ewes to 8s 9d, fat two-tooth ewes and wethers 17s 9d to 19s 9d, two-tooth half-bred ewes 14s, full-mouth merino ewes 6s to 6s 6d, hoggets 10s. Cattle—Beef equal to 27s 6d to 50s per 1001 b, fat steers £8 11a 6d to £8 17s 6d, heifers £8 to £lO ss, springers to £8 10s, dry cows £7 10s to £9 ss, dairy cows £9, young cattle to £5 2s 6d, calves 27s to 42s 6d. Pigs—Baconcrs 50s to 455, choppers to 725, porkers 25s to 275, weaners lis to 16s, suckers 5s to 8s 6dl Only a limited amount of business waa

done in the produce yards at last .week’s quotations., ASHBURTON. About 3000 theep and 30 bead of cattle were entered at Ashburton yards yesterday. There was a poor demand for store sheep, many lines being passed in. Cattle were more in request at improved prices. Following are the prices:—Sheep —Fats— Cross-bred ewes 12s, 12s 6d, 12s 9d, 13s 3d to 16s Bd, for young well-finished two-tooth ewes; merino ewes 7s 9d, 7s lOd, Bs, 9s 6d, 9s 8d to 10s 3d; two-tooth mixed sheep 15s 3d; lambs 11s lOd to 13s 3d, cross-bred wethers 12s 6d, freezing lambs 10s lOd, 11s, 13s 6d, 13s 7d, 14s. Stores —Merino ewes in lamb 5s 6d to 5s 9d, merino wethers 5s 6d, cross-bred ewes 5s 6d, 8s 6d, 10s, 11a lOd to 11s lid. lambs 8s 9d, 9s lid, 10s ld„ 10s 6d, cross-bred wethers 14s to 14s sd. Cattle—Stores, fifteen months’ old £3 17s 6d to £4, dairy cows £2 10s, £4, £6, £7, to £7 ss, steers £5 6s, £6 2s 6d, £7, £7 10s; £8 10s to £lO. LAND SALE AT RANGIORA. One of the most important and successful land sales held at Rangiora for some years took place yesterday. The property disposed‘of was that of Mr W. H. Bromley, known as the Bromley Estate, situated close to the Flaxtor. railway station. The property, comprising 387 acres, was divided into five lots, for which . there w’as keen competition. The auctioneer was Mr W. Bliss, associated with the North Canterbury Co-operative Stores Company. Following are the details:—36 acres, sold to Sir B. Ferguson, at £34 per acre; 63 acres 1 rood 24 perches, to Mr Thomas Power, at £3O per acre; 72 acres 16 perches, to Mr J. Sims, at £26 per aero; 140 acres 1 rood 22 perches, to Mr John Forrest, at £35 10a per acrej 75 acres 30 perches, to Mr John O’Neil, at £35 10s per acre. The total aniount realised by tho sale was £12,502 19s 6d. SALE OP LEASES. A sale of leases of sections in Dromore township was held at the Ashburton Courthouse yesterday, and resulted as follows : — 1 Block 1., 6 acres, to H. T. Martin, labourex', Dromore, at 15s per annum rental. Block 11., 1 acre 0 roods 8 perches, to H. T' Martin, labourer, Dromore, at 3s. Block 11., 3 acres 0 roods 10 perches, to Thomas Blackburn, contractor, Dromore, at 9s. Block IV., 4 acres 3 roods 19 perches, to Thomas Blackburn, contractor, Dromore, at 15s. Block 111., 4 acres 2 roods 19 perches, to Mrs Isabella Clarke, Dromore, at 14s. ■ -