COMMERCIAL.

Otago Daily Times, Issue 17038, 23 June 1917, Page 8

COMMERCIAL.

Daily Times Office, Friday waning. Erom the point of view of the Allies in Europe, the latest estimates of the Unitod States wheat arops cannot but be disappointing, aa tho yield promised from tho spring-sown wheat is only slightly > in excess of the average for tho past five years, vrhilo tilio winter crop is decidedly poor. The total yield now looked for is 565 million bushels, as compared with 640 millions last year, which was on abnormally light season, during which a liberal carry-over from the preceding season was availablo to augment tho crop. Prioes havo risen to extraordinary levelß throughout tiho world during tho season now closing. The United States crop whioh matured in the middle of 1915 roaohed a total of over 1011 millions, whilo that being gathered in August, 1914, was estimated at 892 millions. Allowing for tho damage done to tho grain by ram in 1915, the United States crops havo averaged over 800 million bushels a year since tho outbreak of the war, which has permitted an export of well over 200 millions a year. From tho present crop tho country can hardly be expected to keep suffioient seed, feed a population of 100,000,000, and spare muoh for Great Britain and France. On the basis of Australian consumption, tho whole of the crop would be required for food, leaving nothing for either seed or tho rest of the world. Amerioa has, however, resources of maize, oats, and other cereals, and in combination with tho high price of wheat, these products may bo ablo to exert economy in bread consumption. The United States shortage will be severely felt in America and in Europe during the first half of 1918, during which period it is not too much to expect that unprecedented shipments of wheat must be made from Australia, principally to the United States A fair quantity of Australian wheat is being resold by tho British Government on the London market, recent sales including parcels of 4000 and 10,000 quarters at 83s per 4801b. o.Lf. There is very little wheat offering on tho looal market. Millers are still taking delivery of the Australian wheat which arrived the other day. Some 1500 sacks of a good 1 medium sample of Australian wheat has : been purchased by a JDunedin miller at 4s ! 7d, f.o.b.s.L, Sydney. This privato purchase has to bear a duty of 9d per cental, but the Government purchases come in duty free. Tho 1500 sacks will cost, with duty, freight charges, eto., about 5s 9£d, landed in Dun- | edin. This Jb a considerable difference as against tho price of 6s 3d charged lor the Government wheat, though the latter is, of course, of a better quality. The Board of Trade considers that the 4s 7d wheat wiD not be good enough for milling, but the ' sample sett forward shows that it is a good mixing cereal. An attempt is now being made to hare the duty removed on private purchases, as millers maintain that the lesser price they would have to pay for these purchases would enable them to lower the average cost for the 63 3d wheat, as the two qualities could be mixed. However, the Go- ■ vernment doos not seem at all inclined to take off the duty, as it does not want the privatefy-bought.wheat to compete with its purchases. Millers assert that they are losing money on 6s 3d wheat to bo sold at the Government fixed price of. £15 a ton as flour. As has been stated before, if tho Government had provided the freight, removed the duty on wheat, and left millers to do their own buying in Australia, a better bargain would probably havo been made for the dominion. Canterbury millers aro ablo to sell their flour at £15, and make a profit, but they were enabled to secure largo I quantities of New Zealand-grown wheat early in tho season at prices far below the fo 3d a bushel r.ow wanted lor the Austra- : lian wheat. Fowl wheat is costing up to i 5s lOd a bushel, and the quality is very poor even at that high price. In fact . Australian milling wheat at 6s 3d a bushel i would be a better proposition for the keeper of fowls than 5s lOd for the samples classed as fowl wheat. [ Oatmeal is quoted at £21 a ton for 25V , pearl barley, £19 10s; pollard, £7 5s (fixed * by Government); bran, £4 (fixed by Go vernment). The oats market continues' firm For . heavy 461b oats as high as 4s 4d, ex store, Uunedin, has been paid during the week. 1 °-j c l uallt y 46 2d. to 4s 3d has been ; paid. Those oats are undressed, and are i mostly being secured for Canterbury for , seed purposes. B Gartons are worth up to ; in j '» 0X r . sto r°', an d good feed about 3s , lOd. A fair-sized parcel of oats in tho . aggregate has gone to Canterbury and West ; Coast ports over the week. The demand from the North Island is slack at present as a shipment of 20.000 sacks of Tasmanian - A fpade giante has been landed in Auck- , 'and, and about 16,000 sacks in Wellington. ; -Lnese Tasmanians are equal in quality to s the dominion B grade, although they ap- ) 5 0ar be . more sh el!y- In Auckland the i A grade giants aro selling at 4s 4d ci f duty paid, equal to 3s ll£d, f.0.b., sacks in' ( south. There aie not many offerings of oats on the local market, and very few t unsold in stores. . > PRODUCE REPORT. > Prime oaten sheaf chaff meets a ready » sale at quotations. Medium quality 1 is more but has a fair inquiry. ■ There is a good demand ior prime clover ) hay. 1 There is a little better inquiry for prime j. samples of potatoes, though prices remain i unchanged. Prime quality are not too , plentiful, but medium and poor 6tuff is T in over supply. Reports from Christchurch - state that the main crops there are not s turning out too welL There appear to be 1 plenty of potatoes in.Otago and Southl land, but farmers are pitting being ) disinclined apparently to accept current quor tations. _ When all is said, however, the market is in a rather uncertain condition at present. There are practically no onions in the hands, of wholesale people. A line of Melj bournes was due to arrive in Dunedin to- . day. Tho freeh egg market has slumped. In 3 the absence of supplies preserved are still l firmly quoted, but these must drop in price 3 in sympathy with the selling quotations for , fresh and stamped.. Dairy butter continues in short supply. There was a fair yarding of pigs at Burnside sale on Wednesday. These sold at prices equal to 7£d per lb for baconers and a 8d per lb for porkers. 3 Current wholesale prices are as follow:— 3 Chaff.—Prime oaten sheaf, £5 7s 6d to . £5 15s; medium to good, £3 15s to £4 15s I (sacks extra). 5 Straw. —Oaten, £2 15s; wh eaten to £2 3 ss. ; Clover hay, £5 5s to £5 15s. Potatoes.—Prime lines, £5 to £5 5s per j ton; medium to good, £4 to £5 (sacks in). Canterbury onions, 9s to 10s cwt. Eggs.—Fresh, to Is 8d; preserved, Is 7cL Butter.—Milled bulk, Is 3d to Is 4d per lb; dairy and separator, in lib packets, Is to Is 3d. Honey.—Bulk, 6d; 101b tins, 5s 6d; 21b pottles, 15s to 16s a dozen, 21b tins, 15s. Pigs.—Baconers, 7£d per lb; porkers, to Bd. Bacon.—Rolls, local, Is 2d; ChristchuTch, „ Is 2dj sides, Is Id, hams, Is 2d; Imm rolls, 6 Is 3d. FRUIT REPORT. c Business has been on the quiet side in j. the fruit market during the week. Supt plies aro mainly confined to pears and ' apples, from Otago Central and Canterbury, other kindß of fruit being scarce. A lino' of mandarins and pines arrived to-day from Sydney. The mandarins broughl from 15s to 17s a case for best, and the j pines from 12s to 15s. 3 A shipment of bananas is expected on Monday. Prices should range from 13s k o 3 " < _ A small lot of poorman oranges has arrived from Auckland. These brought frotr . 13s to xjs. Another shipment is expected on Monday. Reports from Auckland stafe the . crop this year is a very poor one, one j, consequently there will bo shortage of sup . plies. Quotations from Australia for poor ' mans are practically prohibitive. A keen demand exists for vegetables Cauliflowers realise high values, and on< * nice lino brought up to 9s 9d per sack o. ° one dozon. Cabbages have firmed in prict in sympathy with the cost of cauliflowers and aro readily saleable at 3s to 4s pei A sack A fair quantity of vegetable marrows has , arrived from Canterbury. Theso aro selling *" at 5s 6d to 7s per sack, according to the ° size of tho sack. ® Tho following are the current wholesali prices:— '® Apples.—Otago Central: Dessert, 2d fx 3d; cooking, to 2d; Canterbury, 5s to 6 y per case; Lord Wolseleys, 7s; dessert, 5: r " to 7s Lemons.—Californian, 40s per double case ® 20s a half-case. c vgrthmhuk« Tomatoes.—Local hothouso, to Is 7d no: pound. 10 Pears, Id to l£d; choice, 3d to 34d. >s Walnuts, 9id to 10£ d. T Cabbages, 2s to 3s 9d per dozon; 3s t< * 4a 6d per sack. Cauliflowora, best 8s 6d tc 9s 9d per sack; medium, 6s to 8s; inferior !t 3's to ss. Lettuce, 4d to 8d per dozen Vegetable marrows, 5s 6d to 7s per sack Parsnips, 3s to 3s 6d per cental; sacks, t< 7s. Carrots, 2s to 3s per cental. Beet rt root, Is to 2s per cental. Celery, 2d tc »s 4d per bunch. y Potatoes.—Taieri-grnw«, in sack lots. 6: tp 6ft fid per ca&.