SOUTHLAND MARKET'S.

Otago Daily Times, Issue 16338, 22 March 1915, Page 4

SOUTHLAND MARKET'S.

(Feoai Ode Own Correspondent.) INVERCARGILL, March 20. Present prices for ox beef are from 30s to 4s per COlb; heifer, 37s to 38s; cow, 35s to 365. Fat sheep: Extra prime butchers' wethers, 26s to 275; medium, 22s to 235; prime ewes, 21s to 22s 6d; medium 18s to 19s. Store aheep: Two-tooth ewts, 22s to 235; four-tooth, 23s 6d lo 24s 6d; four-year-old, guaranteed sound, 18s 6d to 19s 6d; mixed ages, equal proportion, 21s to 225; good lines of rapo lambs, 15s to 16s; medium, 13s to 13s 6d; two-tooth wethers, good condition, 18* to 19s; four and six#to°th, 20s to 213. Store cattle: Three year old bullocks, forward, £9 10s to £10 10s; extra, £11 to £11 ss; two and a-half year old, £6 10s to £6 15s; two year old, £6 to £5 ss; 18-months' old, £3 15s to £4 10s; yearlings, £2 15s to £3; calves, 25s to 30s. Since week the position in regard to oats has altered very considerably owing to the fact that tho -Government has prohibited the export of oats from New Zeat i.'*'' 11 " 3 ®ctio - .i was 'based on a report iu° m u a Registrar-general, to the effect that the estimated new crop was 3,000,000 bushels below tho requirements of the dominion. There is no doubt that as a precautionary moasura the- Government's action was thoroughly, justified, but so far as Southland is concerned there is everv reason to. believe thas tho yield will be very much m excess (perhaps close on double )of the estimate. During the last three months the crops have c imo on wonderfully and in many districts yields of from 60 to 100 bushels per acre will be common. There is alsr. another factor which will militate against tho consumption of oats in New Zealand, and that is tho high nrice. This will' undoubtedly, tend to restrict tho quantity used, and it -will probably be found later on that there is an exportable surplus of oats. It is somewhat of a pity that the (government did not take action two months ago, as since that time a great deal of forward selling has taken place. Merchants in many cases covered these forward sales by buying from farmers at a high price, and they may now find: some difficulty in selling their purchases to advantage. Tho Government's action has already had the effect of stopping speculation, and buyers in the North Island, are pursuing a very cautious i policy. It is not thought, however, that the nrice will como back very much, as doubtless many farmers will, unless they can get a good price, hold their grain in tho hope that later on the embargo on export will be removed.. As space, had been booked for a considerable quantitv of oats y»e Wimmera and Mokoia, leaving Now Zealand tiiis week, the Government permitted shipment to bo mado by these steamers to the extent of tho spaco that had been booked beforhand About 1750 bags wcro shipped to Melbourne from Bluff in the Wimmera. Tho market is very unsettled at present., and it is somewhat difficult to quote reliably, but some merchants are open to buy on tho basis of 3s 6£d for forward. delivery, probably with tho view to covering sales already made to tho North Island.. As far as tho crops aro concerned a considerable area has already .been cut, although. thc-r« is still a quantity of late crop, which will not be ready for a fortnisht yet. The fin? weathfr which has prevailed for. the past, fortnirrht should ensure the grain being harvested in first rate order. Tho prohibition against the export of oats has. also affected chaff, which waft boing quietly bought up by Rrv?cuktors with a. v'e.w to exportin-r to Victoria, whr>rc chaff is. worth from £9 to £10 nor ton. Tho effect, ia now that tho local market is well snntilied. and sale* are difficult to make, n'thnugh prices hiave nor, actually "as'-d. To farmers the price remains nom'nnll" the same as last week—£s to £5 2s 6d, on trunks.

Thore scorns to b" -in enr.iov roRardinar ryegrass, anr! this wa? the inevitable reaction to the frenzied buying up of this lino by merchants The price of heavy \TOitrhfc seed rem"ins pbont tho sum", .and it wtvld lie well ni""h imno=« ; blc f.n bnv n cjood Ho farmers' lino' 5a 6rl. nn trucks. The "lackn'-'S to be mainly in light woi«ht seed, many merchants <arr- irnwilT'iig to touch. T t should bo mentioned that th" quantity ofForinpr is now verv small, nrovinc; thnt mn«t of the seed if> in merchants'' lmnels. Prccs for norprrii'vl may he quoted nt from 4s to 4s 6d for 201b to 211b seed, and uj? to 5s 6d for

superfine samples of heavy seed. Tho demand for Italian Ftill continues fairly keen, although prices have e<ised somewhat. Up to 6s, on trucks, lias been paid for farmers' lines, bub the best price obtainable to-day is from 5s to 5s 6d. Tho main crop of potatoes is coming on apace, and will bo ready for digging next month,. So far tho demand is purely local, and the prico has fallen to from £5 to £6 per (on, delivered into Invorcargill, less merchants' commission. There are buyers for April-May delivery at from £3 10s to £3 15s, on trucks, but so far farmers have shown vory littio disposition to sell for13 reported: that iho crops in the Wyndham and Winton districts are very good this season, and thero iias been little or no blight in tlio district. In tho west Jt is reported that the yield will not bo up to the average, and tliat somo of the crops aro affccted with Wight. There is very little doing in hemp, as most millers aro working on contracts made somo timo ago. The London market, howover, is again firmer, and good fair is worth from £25 to £25 10s, on trucks. Tho local flourmillcrs' price for flour still remains at £17 10s, with tho usual terms for wholesale quantities. So far very little new wheat has been harvested, but it promises to be of . very good quality. A large quantity has already been bought up at from 6s to 6s 6d, on trucks, and thero are no sellers to-day at these prices. Reports from Australia state that the sultana crop will bo no nioro than sufficient for Australian requirements, and if any fruit is exported to Now Zealand it wiil cost 7id per lb, f.0.b., Melbourne. As a consilience of this, and also of the fact that no supplies are procurable from Smyrna owing to tho war with Turkey, has caused lofal merohants to hold very firmly. Tho local prico of oatmeal has been advanced to £21 10s for sacks, and such lines as oatina, creamoata, and rolled oats have gone up in sympathy.