HIGH GRAIN PRICES

New Zealand Herald, Volume LXXIV, Issue 22694, 5 April 1937, Page 5

HIGH GRAIN PRICES

PROHIBITIVE VALUES POULTRY-KEEPERS' CONCERN "A RUINOUS BUSINESS" The concern with which poultrykeepers and pig farmers view the high values which have ruled for some time in practically all lines of grain and produce was voiced at a meeting of the Waikato executive of the New Zealand Farmers' Union on Friday. Complaints were made regarding the prohibitive values of fowlwhcat and barley and it was stated that poultry farming was now a ruinous business. It was decided to send r remit to the coming provincial conference asking for an investigation. Prices for almost all lines are now considerably above those ruling a year ago. Poultry-keepers are doubly unfortunate, for while the price of pollard, the main line, is high, no relief can bo obtained from substitutes such as fowlwhcat, barley and maize. The following table illustrates the steady upward rise in prices, showing the added costs under which the poultry-keeper is working. The values given are those at present ruling, those at the beginning of tho year and those of a year ago:— Jan. 7 Apl. '2

Practically the only line which shows any signs of easing is maize, prices for which have declined slightly since the record level of 8s Id a bushel was reached in February and March. Imported stocks are due this week from South Africa and holders are lowering their limits in view of the proximity of these stocks. This shipment was specially arranged by grain and produce merchants to tide over supplies until regular imports come from Java early next month. Stocks of New Zealand fowlwheat are practically exhausted and the demand is now being satisfied with imported stocks from Australia. Supplies of barley from the Commonwealth have been difficult to obtain for some time and the inquiry has been met only by using accumulated stocks. However, this grain is now almost neglected in favour of fowlwheat, which isscomparativcly cheaper. Crops of oats in Southland have suffered damage from broken weather and indications now point to new season s supplies being light. Latest reports from Australia show that Sydney merchants are unable to offer quotations for pollard and values in Melbourne are particularly high. The local mills are not able to cope with the demand. The outlook for the poultry-keeper is therefore far from bright.

DUNLOP RUBBER PROFITS AN IMPROVED RESULT MARKET'S PLEASANT SURPRISE LONDON, April 2 The results of the Dunlop Rubber Companv for 1936 pleasantly surprised the market. Profits have risen by £214,500. The ordinary dividend is raised to 9 per cent by the payment of a bonus of one centum and allocations to reserve have been resumed. The shares rose almost 3s to 38s on the Stock Exchange, but subsequently reacted, losing *9d.

,In 1935 the company earned £1,288,244, compared with £1,687,687 in 1934. The dividend on the ordinary stock was raised to 8 per cent.

WHOLESALE EGG PRICES LOWER GRADES REDUCED Reductions in the wholesale price of all grades of lien and duck eggs, with, the exception of first grade hen, are announced by the Auckland Egg Marketing Committee. First grade hen eggs are unchanged, and other grades are Id a dozen lower. First grade duck eggs are 2d a dozen cheaper and other grades 3d. Wholesale prices are as follows: — Hen: First grade, 2s 41 d a dozen; B sirade, Is 9£d; C grade. Is 2Jd. Duck: First grade, 2s 2id a dozen; B grade, Is 10i'd; C grade, Is 3|d. Country storekeepers' buying prices for first grade eggs are: —Hen, Is lOd a dozen; duck, Is BJd. QUOTATIONS FOR HIDES (Keceivcd April 4, 5,5 p.m.) LONDON, April 3 Hides are very firm. Quotations are: —Meat works, dry-Raited: Queensland, 36451b., 93d; 30401b., 9gd; 25-351b., 9jSd; 20-301b., 9£d- New.South Wales, ]() d, 9|d, 9Jd and 9Jd. Wet-salted: Queensland, 50-601 b., 73d; 40-501b., New South Wales, Bjd and 7|d; Victorian abattoirs, 8d and 7£d. APPLES IN LONDON (Received April 4, 5.5 p.m.) LONDON, April 3 Apples.—New Zealand Jonathans, 13s to 14s; Worcesters, 12s to 12s 9d. Australian Jonathans, 12s to 14s. RABBIT MARKET INACTIVE LONDON, April 2 Rabbits are inactive. First large, exstore, aro quoted nominally at 19s Gd to 20s a crate.

Present 1937 1930 £ 8 (1 £ 8 fl £ a d Wheat (bhl.) 0 7 '2 0 6 8 0 6 2 Maizo (bhl.) 0 7 11 0 7 9 0 (j 9 B'arloy (bhl.) 0 0 1 0 5 6 0 4 (J Chaff (ton).. 9 5 0 8 12 0 7 15 0 Gals (bhl.).. 0 4 10 0 4 0 0 3 11 Pollard (ton) 8 15 0 9 5 0 8 15 0