COMMERCIAL

Otago Daily Times, Issue 16687, 6 May 1916, Page 6

COMMERCIAL

Daily Times office, Friday, evening. Latest London cablegrams state that the ■wheat market is firm and occasionally dearer The American visible supply (United States and Canada) east of' the Rocky Mountains is estimated at 146,801,000 bushels, as compared with .61,751,000 bushels a year ago. The preponderance of this supply is obviously in the United States, which country will enter into the new season with an ample supply, despite the. reduction in" the crop. The commanding , position occupied by the United States in the world's wheat trade has been absolute during the past two seasons, but from now onwards a diminution of Chicago control is to be lboked for. Tho Allied Governments, with an eye to conserving financial resources, must purchase from within their own countries wherever possible, giving absolute preference to Canadian over United States grain, and as much preference to Australia as is compatible with the economical us© of shipping. The effects of this very necessary course are already being felt, ax;oorfVng to "Broomhall," who states that holders in the United States are beginning to realise that they have been allowing Canadian shippers to have things too much their own way. These is, as this authority indicates, _ the question of financial stringency ' which may arise at any time in the States, should the relations of Washington and Berlin become more etrained than they axe ai present. Although every effort has been made by Victorian flour millers, they have been unable to compete with the United States in the flour trade of the East (says the Australasian). An examination of the position discloses the fact that wheat is quoted in the chief towns of the Pacific Slope at the equivalent of 3s lOd f.o.b. for Forty-fold a,ud Club, varieties, and up to 4s 2£d and 4s 3Jd for Bluestem. As a result millers there can accept orders for flour at £9 per ton f.o.b. The journey from the Pacific coast to Europe is so long and freights so high that these prices represent European parity there. Under the preferential treatment so far meted out to Australia in freights to Europe, the Lo.b. price here has so far been at least Is per bushel more. As far as can bo ascertained, the prioo quoted to this East by American flour shippers is about £11 c.Li. Australian millers could hardly sell at a figure within £3 of thai on the recently advanced rate of £2 10s for freight. As a result, a steamer recently left for the East with 2000 tons of freight space unfilled. The local wheat market remains unchanged. Prime velvet, is about tho only wheat that meets with a ready demand, though there in a fair demand for red chaff. On the other hand, Tueoan is a

drug on tho market. Miilcre are about the only operators. Volvot is quoted at 5s to 5s Id, est stores, Dunedin, Tuscan 4a 3d, and red cliaJl up to 'Is sd. Fowl wheat is worth 4fi.

Ik-ports from Oama.ni, under date May 1, state that since last reporting delightful weather has been experienced. The growth is wonderful. Old settlers have to admit that they cannot remember over seeing the district looking so wall at this tinio of the year. All winter feed has ccnno away in leaps and bounds. Capo barley, ryccorn, duns, and Algerians have all boon largely sown, and are giving promiso of abundant feed. Grass paddocks that looked more like ploughed land at a distance some time ago arc now a picture of growth. Unfortunately heavy frosts will soon chcck all growth. Tlio wheat market is in a very weak state, with practically no business passing. Velvet wheat is the only kind millers cairo to buy at tho moment. Flour is quoted as follows: —Sacks, £12; 1001b bags, £12 10s; 501b bags, £12 15s; 251b bags, £13. Pollard, £7. Bran, £4. Oatmeal, £15 a ton for 25's. Pearl barley, £20. There is not much business passing in the oats market. Prices vary considerably, n.s for direct railage to the drought-stricken northern districts formers and merchants aro prepared to pay more than shippers. A Gartons are worth. 2s to 2s Id at country sidings, and B's Id less. Shipping values are: A Gartons, 2s 7d to 2s 7gd, Lo.b., s.i., and B's Id less. PRODUCE REPORT.

In consequcnco of a temporary shortago in consignments of chaff tlio market lias firmed a little. Consignments of potatoes arc equal to the demand. Prices remain unchanged, but up to £6 is obtainable for sound lots of extra choice. Eggs aro now selling at up to 2s 2d wholesale. Separator dairy butter is quoted at up to Is 3d a lb. Current wholesale prices are as follow:— Chaff. —Prime oaten sheaf, £3 15s to £4; medium to good, to £3 5s (sacks extra). Hay, £6. Straw.—Oaten, £2 to £2 ss; wheaten, to £1 15s. Potatoes. —Prime, £4 15s to £5; medium lots, £4 to £4 10s. Onions, to £5. _ Eggs.—Fresh, 2s; stamped, ~2s 4d; preserved, Is 9d. Butter. —Milled, Is 2d per lb; dairy, in lib packets, Is 2d to Is 3d; separator (bulk), Is 3d. Pigs.—Baconers, 6|d per lb; porkers, 6id. Bacon.—Rolls (in quantities), Is Id; sides, Is; hams, Is Id per lb; boneless hams, Is 2d. FRUIT REPORT. Small supplies only of fruit have been coming forward during the week. A parcel of Fiji bananas arrived in good condition, and realised 9s to 13s a case for green; ripe sorts, a little more. Both cooking and dessert sorts of apples are in rather short supply. Choice cooking sorts have met with a good demand, and up to l|d a lb has been readily obtained. Choice desserts have brought iip to 3d. The market is bare of oranges. No further supplies -will be available until the arrival of the next Rarotongan boat. Lemons are also short on the market. Pie melons have commenced to come in, and these have brought £4 to £5 a ton under the hammer. The following are the current wholesale prices:— Apples are wanted. .Dessert Central and e Christchurch, l£d to 3d; cookers, 2s 6d to 4s 6d per bushel; Nelson Jonathans, 8s; Alexandra, 8s 6d to 10s per bushel. Lemons.—American, 30s; Auckland, 12s 6d. Bananas.—Green, 10s to 12s 6d. Oranges.—Rarotongan, 10s to 12s 6d. Peaches.—Finished. Pears.—Cooking, Id to desserts, lid to 2d. Tomatoes.—Supplies are falling off. Local hothouse, to 7id; Christchurch, to Alexandra, 2d to 3jd. Quinces, Id to lfd. Grapes.—Local, 9d to Is 3d. Cucumbers.—Hothouse, 2s to 3s 6d per dozen, small. Vegetables.—Poor supply. Cabbage: Good, Is to 3s per dozen; sacks, 2s to 4s. Tablecarrots, 5d to 9d per dozen; 2s 6d per bag. Rhubarb, 3s 6d per cwt. Swede?, 2s to 2s 6d per cental. Cauliflowers: Scarce, 2s to 2s 6d per dozen for small; large, 4s to 7s per dozen. French beans, 3J>d. Celery, 2d to 4d per bundle. MELBOURNE MARKETS. Press Association—By Telegraph—Copyright. MELBOURNE, May 5. Bran, £5 ss. Pollard, £6 ss. Barley: English, 4s 4d to _4s 9d; Cape, 2s 9d to 3s Id. Oats: Milling Algerians, 2s 3d to 2s 3id; feed, 2s ljd to 2s 2|d. Potatoes, £5 10s to £6 Onions, £3 10s to JE4.

CHRISTCHURCH MARKETS (Pee United Pbess Association.) CHRISTCHURCH, May 5. The local wheat market is very -quiet, and prices, if anything, aro rather easier. A laxge_ quantity of damaged Tuscan wheat is offering, but there is little demand. It is selling at 3s 9d to 3s lOd at country sations. Sales of milling Tuscan have been made at 4s to 4s 2d. Pearl is worth 4s 7d to 4s Bd. Bran has advanced to £4, and pollard to £7> _ The oats market is lifeless, and there are no offerings. On the basis of Southland values Gartons are worth only 2s at country stations. The potato market is quiet, and there axe not masiy offering. Shipments have been made to. Australia, and the graders are requiring shippers strictly to comply with tho regulations regarding condition required by the Australian authorities. The price remains at £4 to £4 5s at country stations, but most buyers are offering the lower figure. HIDE SALE. Messrs Waters, Ritchie, and Co. report as follows:—We held our fortnightly sale of hides yesterday afternoon. There was the usual attendance of buyers, and competition was again very keen, particularly for all lines of good-conditioned hides. Included in our offerings wore some lines of stout substance. These brought extreme prices, 14|d being paid for a line of three ox. Our catalogue consisted of 517 hides and 235 yearling and calfskins. We quote: Ox: Extra stout, 13d to 14 id; stout, 12d to 12Jd; medium and heavy-weight, lOd to llijd. Cows: Good-conditioned, medium, heavy, and light-weights, from 9|d to lOjd; heavy-conditioned ox and cows, B}d to 94d; damaged, 6d to 8d; calfskins, to 12Jd for best; medium, lid to 12id; damaged and inferior, 3id to °d per lb.