COMMERCIAL.

Otago Daily Times, Issue 19505, 13 June 1925, Page 10

COMMERCIAL.

Daily Times Office, Friday evening. Europe has been a large buyer of Australian wheat this season, 2,418,579 centals having been sent in that direction, apart from the quantity that may have been absorbed from wheat shipped for orders. Despite the falling off in oversea flour sales, exports of flour for* May amounted to 274,291 centals, or nearly GO.OOO centals more than for April. The United Kingdom was the destination of 126,546 centals; South Africa took 30,381 centals; Egypt, 20,169 centals; Java and Sumatra, 14,459 centals; and New Zealand, 8723 centals. The figures for the first five months of the year compare unfavourably with those for the corresponding period of 1924. This year 1,386,157 centals, or the equivalent of 3,326,777 bushels of wheat, were sent abroad, while last year exports were , 1,893,797 centals, or the equivalent of 4,545,113 bushels of wheat. The contraction in outgoings was due to the relapse in the price of wheat early in the year, oversea importers having withheld from the market until most of their commitments entered into at high prices had been absorbed. Quantities of wheat and flour shipped for the five months and destinations arc as under:

There was a large yield of oats in Victoria for the 1923-24 season and a largo quantity was sold beyond the State. In spite of this, however, with production amounting to 9,366,205 bushels, the carryover into the 1924-25 season was said to be heavy. On ton of this, 9.572,003 bushels were harvested this year, and there will have to be large consumption if the market conditions are to be satisfactory to the growers. In recent years New Zealand lias been an important buyer of Victorian oats, and some relief was also given when dtv weather influenced New South Wales to draw supplies from this Slate. This year, however, shipping demands have been unimportant. To-day conditions in the country, both from an agricultural and pastoral standpoint, are satisfactory, and in other States the outlook f or primary producers also is cheerful. This being the case, there is practically no outside demand for cats from Victoria, and the position therefore is that a very large quantity of oats is held for which no outlet is in sight. The situation is disconcerting to both growers and traders, especially as present prices of oats are said to be unprofitable to the growers. Discussion among grain merchants leads to the belief that many farmers will not sow oats this year. If the areas can be utilised for wheat this will be sown, and mixed farming may be followed to a greater extent in the oatgrowing districts. Apparently the only prospect for the development of an outlet' for the present heavy stocks of feed oats lies in the possibility of prolonged dry weather in the later months of the year. This, however, no one wishes to see (says the Australasian), for it would perhaps moan disaster to wheatgrowers and pasloralists. Until recent years the consumption of oats in the metropolis was heavy, but with the. advene and rapid development of tho motor industry motor vehicles have replaced many thousands of horses, and so feed demands have dwindled very conaierably. LOCAL MARKETS. Millers arc still buying wheat wherever possible. Most of tho wheat around this district, however, has now been cleaned up, and only odd lines are on offer. The prices are stili as fixed by tho conference of millers and wlfbatgiowcrs—6s Bd, Gs lOd, and 7s, f.o.b. —but farmers arc asking and getting more than these values. Apparently, however, farmers are inclined to get rid of all their stocks before the Australian wheat to be imported comes to hand. The Government lias announced that after Juno 30 ; t will bring in cargoes of Australian wheat where required by millers. So far no statement has been made as to price, and it is not known whether the Government lias already secured a qnantinty or whether it lias yet to purchase. If the Government has not yet bought, it is evident that it will have to pay more for the Australian cereal than would otherwise have been tho case, in view of tho advance in the world’s markets. Millers have to finance the whole of the scheme. Tho demand for fowl wheat is not keen, as many of the poultrykeepors stocked up heavily at the beginning of the season. Retailers report that small lota only arc going out. Later on the inquiry is certain to improve. Millers' prices for flour under tho new arrangement remain unchanged as follow; 2001 b; £lB 10s; 100’s, £l9 10s; 50’s, £2O 2s 6d ; 25’s, £2O 10s. Bran, £S 10s per ton. Pollard, £9 10s. Oatmeal: 25’s, £2B; 200’a, £27. Tho oat market is experiencing a long period of quietness. There arc forward sellers who, on the one hand, are endeavouring to bear tho market, and on the other hand actual holders are content to sit tight, as they consider that prices, sooner or later, must advance. The forward quotation to-day is 4s 4Jd, f.o.b. ,5.1., spread delivery, July to December. Some sales wore made at tho beginning of the week at Id per bushel lower, but the demand which then arose caused sellers to advance their quotation. Actual holders of oats cannot sell at this price, as they purchased from farmers at up to 6d per bushel more. In the meantime the market is in a peculiar position, with odd sellers of A’s to anyone who is forced to buy at 4a Bd, f.0.b., s.i. North Island merchants have purchased a few small lines at this figure, but the bulk of their' requirements is being filled by under-grade oats from Canterbury. In view of the unsatisfactory state of the market neither merchants nor millers are keen buyers, and are not prepared to pay above 3s 6d per bushel, sacks extra, on trucks, country sidings, for A’s. PRODUCE REPORT. Supplies of chaff are arriving regularly, but only best quality is saleable. This is bringing from £5 5s to £5 10s per ton, sacks extra, cx ‘truck. Medium and poor quality is not in demand, and consignments of this quality arc being placed in store in the meantime. During the season it has been noticeable that there have been very few potatoes arriving from Canterbury, as compared with the arrivals in previous years. The market is being supplied with locally grown tubers, stocks of which have been heavier than usual. Consignments have been coming in freely from the Stirling, Taieri, and surrounding district. The market continues quiet. Only good quality potatoes are saleable, these realising £4 10s per ton, sucks included, ex truck. Apparently growers in Canterbury consider it is not worth while sending potatoes to this market at the prices current. Some Australian correspondence has been received regarding .shipments of Now Zealand potatoes, but so far no business has resulted, the restrictions being prohibitive. There is not much business missing in the wholesale seed market. Ryegrass is firm at an advanced price, with little offering. 3>e tailors are experiencing a good demand for spring sowing, and as stocks are shorter than was anticipated it is considered the marke f will advance later on. Other seeds, such as crested dogstail, white clover, etc., remain firm. Current local wholesale prices for produce lines are as follow: Chaff, £5 to £5 JOs per ton, ex store. Potatoes, £4 10s. Dairy Butter, —Best milled bulk, Is Id to Is 3d per lb, according to quality; separator pats, Is Id to Is 2d. Eggs.—Stamped, 2s 3d; case, 2s 2d; preserved. eff the market. Bacon.—Rolls, to Is 2d per lb. Hams, Is 2d per lb; boneless, Is 3d. Canterbury onions, to 13s per cwt. FRUIT REPORT. Apples are in over supply, but choice dessert have a good inquiry. " A few nice samples of Winter Nelis pears arrived from the the Central. Prices ranged about V/\ per lb. A small consignment of Rarotongian bananas and oranges is due to-morrow (Saturday),

The Waikouaiti left Sydney on Thursday for Dunedin, via Bluff. She is bringing pines, passions, mandarins, navels, and lemons. High prices arc ruling for vegetables, especially cauliflowers. Some nice samples from the Pine Hill district brought £1 per sack. Sound-hearted cabbages bring satisfactory prices. Reports from South Canterbury indicate a shortage of cabbages in the gardens around Temuka, Winchester, and Timaru. Parsnips are plentiful. Carrots have a moderate inquiry only. Current wholesale prices arc as follow: Apples.—Jonathans, choice. 7s to 8s; Delicious, 10s to 12s; cooking, 4s to ss; extra choice, Gs. Tomatoes.—Local hothouse, to Is fid per lb. Bananas.—Ripe, 355. Oranges.—Tahiti, ISs; repacks, to 25s fid. Passions. —Australian, 20s. Lemons. —Sydney, 30s to 32s Gd. Pears.—Best, 3d to 3id; others, id to 2d. Grapes.—Local, Is fid to 3s per lb; Victorian, expected Tuesday. Poorman oranges, 14s. Pie Melons— Australian-grown, 2d per lb. Vegetable Marrows. —Cases, 3s to 3s fid; sacks, 7s to 8s Gd, Celery, 4d to fid per bunch. Potatoes, 5s to 6s per cwt. Cabbages.—Choice, to 9s per dozen; others. 2s to 4s; sacks, to 10s. Savoys, to 13s fid per sack. Brussclls sprouts, Gd per lb. Cauliflowers.—Best, loose, to 15s per dozen; prime, Gs to 10s; others, 3s to 6s; sacks, 12s to 20s. Beetroot, Is per dozen. Carrots, fis per cwt; cases, Is to Is Gd. Lettuce—Choice, 2s per case; poor quality, unsaleable. Swedes, 3s fid to 4s per cwt. Parsnips, Is per dozen; 7s fid per cwt. Spinach, 2s per case. Artichokes, lid to Ijjd per lb. Winter rhubarb, 4s to 5s per dozen bunches. DAIRY PRODUCE. Messrs Joseph Nathan and Co. s Dunedin agent has received the following cabled advice from London: Butter: New Zealand, 178 s. A hesitating market. , , Cheese: Kcw Zealand, 9Ss. The market is quieter. LONDON MARKET REPORT. The Otago Farmers’ Co-operative Association of N.Z. (Ltd.) is in receipt of the following cablegram from London:— . Butter; The market continues firm. Prices have advanced owing principally to email supplies of Australian butter being available at piesent. Prices: New Zealand, 174 sto 1775; Australian, 170 sto 1725. Cheese: This market is firmer. Prices: New Zeaalnd, 96s to 975. Lambs; The demand is good, and may improve further during the month. Million; Demand increasing for lightweights. . Beef: No demand. COMPANY REGISTRATION. The latest issue of the Mercantile Gazette contains notification of the registration of the following company; Golden Kawarau Claim <Ltd.). Registered May 20. 1925. Capital: £SOOO, into 50,006 shares of 2s each. Subscribers: Hamilton, ft. Baker 250; Auckland—ML H. Horton 250, J. A. Duncan 250, A. S. Player 50, H. B. Anderson 50, S, W, W. Tong 50, C. W. B. Hough 50. Objects: Gold mining and incidental. CANTERBURY MARKETS. (Pus United Pbkbb Association.) CHRISTCHURCH, June 12. Tho market is distinctly dead in the bread and butter lines of the trade, but interest is developing in the more important branches of cereals. The offerings of wheat have almost disappeared, And it is obvious now tnat not a few farmers are holding in anticipation of something cropping up to advance prices. Oats aro just about holding recent values. For prompt A Cartons from Is 4d to 4s Gd is being paid, and for July-Deccmber Is 4d, f.0.b., s.i. There aro few B Cartons offering, but there has been quite a clearance of Algerians during the week. They aro quoted according to quality at 3s 3d to 3s 7ffi f.0.b., s.i. or 2s 9d to 3s, on trucks. It is reported that there has been a free purchase of A grade Cartons in the south for milling purposes. , Business in perennial ryegrass has passed at 5s 71d, f.0.b., s.i. Perennial is one of the few* lines in which there is business. Italian is dull of sale, and values to farmers for good quality is up to 3s. Little cowgrass is offering, and quotations are from 9d to lOd on trucks. While clover is being offered fairly freely. The quality is very varied, but for medium to good stuff from Is to Is 3d is offering. . , , . The potato market is healthier. Auckland j a now inquiring about supplies for the next few months, and in addition inquiries /from Sydney aro most frequent. The Kauri and Wingatui, which sailed on Tuesday and Wednesday respectively, for Auckland took 4700 sacks, and tho next boat does not leave until Wednesday or Thursday of next week. BANK DRAFTS AND TRANSFERS. Prco* Association—By Telegraph—Copyright. LONDON, June 11. (Received June 12. at 7.20 p.m.) The sellin" rates on New Zealand from tomorrow will be as follows; Demand drafts end mail transfers,. par; cable transfers. 5s per cent, premium; rates on purchasing documentary bills, sight 20s per cent, discount; 30 da vs, 31s 3d; GO days, 42s Cd; 90 days, 53s 9d.—A. and N.Z. Cable. DAIRY PRODUCE Press Association— By Telerrranh—Copyright. LONDON, June 11. (Received Juno 12, at 5.5 p.m.) Butter: New Zealand choicest salted, 17Ss to 180 s; exceptionally good, 181 s; unsaltcd, 18fis Australian salted. 170» to 17-la; unsalted, 178 sto ISOs. Danish, which has been arriving plentifully since the cessation of tho strike, is worth about 18Ss. Tho market is firm, with a good demand apparently due to the extremely hot weather and the prospect of its continuance, which is causing talk about the prospect of a drought making retailors anxious regarding stocks, despite the'fact that a large quantity of butter is in store, and current arrivals are still considerably exceeding consumption. Cheese is firm. New Zealand, 97s to 935. Australian is temporarily cleared,—A. and N.Z. Cable.

SOUTHLAND MARKET REPORT. (Fiioji Uu.R Own L’ohresfondknt.) INVERCARGILL, June 12. CRAIN. Onts.~-Tho market lias -finned considerably during the last lev,- days and merchants are one and all decidedly optimistic as to the future of the market, and will not entertain any proposals of business under current rates, which are on tire basis of 4s 8d for A grade Cartons, though 4s 9d has been secured for exceptionally heavy A's. The recent attempt to bear the market has been altogether unsuccessful, and has had rather an opposite effect. All oats arc now out of growers’ hands, and the position as to stocks is eo well known that it leaves merchants with a feeling of security, and it is quite unlikely that any holder will now consider business which will not leave a profit on bis outlay. . Wheat. —In so far as local grown wheat is concerned this has almost all been turned over to merchants and millers, and it is evident that at all events that for fowl wheat we must look to outside markets for supplies. Nominal value to growers is Cs 9d per bushel for good whole fowl wheat. Chaff.—This still continues to be offered ill sufficient quantities to meet the requirements of the local demand, and the price is maintained at the old level of .-£5 per ton, on trucks, for prime quality. Low grade lightweight chaff is hardly sale.ablc at any price. Rvegrass.—A fair turnover is still being done with northern centres, and merchants stocks arc being considerably reduced . Ihe market is, if anything, firmer than last report, and holders of 271 b to 281 b seed show little inclination to consider any oners of less than 5s lOd per bushel, f.0.b., s.i. Lots from growers are now few and far between and then only amount to small parcels of 30 to 40 sacks. STOCK. The market for all classes of stock during the past week has been good and prices have been well maintained. The yarding of fat stock at the local yards of this week was a fairly large one, and notwithstanding this the prices were well up to recent sales. Eat Cattle.-Extra heavy prime bullocks, fit to £l7; medium, £ll 10s to £l3 10s, lighter, £0 to £lO 10a; prime heifer, £8 to £lO 10s; medium, £5 to £7; prime cow £7 to £9; lighter, £4 10s to £5 10s; vealers, 25s to 37s Cd. Prime ox beef, 35s to 37s 6d per 1001 b; prime heifer, to 32s (kl; prime cow, to ~ Eat Sheep.—Prime heavy wethers, 44s 6d to 475; medium, 41s to 435; lighter, 38s to 30a 6d; prime ewe, 30s to 345; medium, 25s 6d to 28s 6d. , . , Store Sheep.—Very few good hne s of either ewes or lambs are offering and anything ot good quality coming into the yards meet with good sales. Mixed-sox lambs, 28a Cd to 30s; good Romney ewe lambs, 34s to 3Gs Gd; wether lambs, 25s to 275; Romney ewes (miarauteed), to 3Gs Gd; four and six-tooth ewes, 42s Gd to 455; two-tooth ewes, to 455; old ewes, 18s to 21s. . . Store Cattle—There arc inquiries for forward bullocks to put on turnips. Ihree and four-year bullocks, £8 to £10; two-year bullocks, £5 10s to £G 10s; yearling steers, to £3; calves, to 255. Dairy cows at profit are making £G 10s to £S. LONDON HIDE SALES. Press Association —By Telegraph—Copyright. LONDON, June 11. (Received June 12, at 5.5 p.m.) The hides sales were very dull, with no demand. Australians wore nominal. Quotations: Salted, 301b'to 401 b, 7d; 40ll> to 501 b, 7d: 50lb and upwards, 7 l-8d; dry salted, 2011) to 301 b, 9Jd ; 301 b to 40lb, Did.— A. and N.Z. Cable. LONDON MARKETS. Press Association— By Telegraph—Copyright. LONDON, June 11. ■ (Received Juno 32, at 5.5 p.m.) "Wheat cargoes are dull, and are Gel to Is down owing to the good Canadian and Continental crop reports. Parcels are weaker, with a lack of buying. The spot trade is stagnant, and prices are generally maintained. Australian, ex ship, C3s fid to fils fid. Elmir is slow. Australian (cx store), 45s 3d. Oats are steady. Peas and beans are slow. Sugar is unchanged.—A. and N.Z. Cable. Fraser and Co., agents for the Otago Egg Circle, report us under: —Eggs: The market is firm at 2s 3d for stamped, case 2s 2d, preserved 3s Bd. Butter: 11b pats. Is 2cl to Is 3d; bulk, Is 3d to Is 4d. Tallow: Market firm from 13s to 255, according to quality. Honey: Prime bulk, 5Ad per lb; 101 b tins, 5s Gd. Beeswax, Is 3d per lb. Pigs: Good bacon weights, 7d to 73d; overweights, 33d to sd. Vo arc solo Otago agents for sucrosine, the ideal pig and calf food. One hundred and twenty-five pound bags, 16s. Ton lots (20001 b), £l2. We are agents for Utility and Jubilee incubators and solo agents for Pareora meat meal. We stock “Star P” chick food, lucerne meal, poultiy meal, oats ami wheat, bran and pollard. Champion egg orates, 18s fid; leg rings, Is per dozen (special quotes for quantities). Poultry; We held our usual sale on Wednesday at 1.30, and a special sale on Saturday of 000 onc-your-old hens and pullets. We sold as under: Hens; Light broods from 3s fid to ss; heavy breeds, from Cs to 7s Gd; cockerels, 7a to 10s; ducks, 8s to 10s. Turkeys; Hens Is, gobblers Is 13d ner lb live weight. Special Sale: Pullets, white. Leghorns from 18s to 22a; one-year-old hens, 8s to 12s; Black Orpington pullets, IGs to 22s (all at per pair). BRAY BROS (LIB.). AUCTIONEERS, DUNEDIN, Aro reliable Fruit, Farm, and Dairy Produce Salesmen, Write them for market reports Prompt attention given. —Advt. ESTABLISHED 1861. A Market for Poultry. Consign your Poultry to us. We are buyers of all kinds. The weights must be—viz.; Fowls. Jive weight 3i 11> each and over; cockerels, live weight each and over; ducklings, live weight 4lb each and over; turkeys nil weights. No commission, railage paid, crates supplied. Write lor quotations.—VV. STEWART (LTD.). Fish and Poultry Merchants. Head office, 236 Princes street, Dunedin. ‘Phones: Branch 1676; Head Office 1274. —Advt.

MELBOURNE MARKETS. Press Association —By Telegraph—Copyright. MELBOURNE, June 12 Oats; Milling, 2s fid to 2s 8d; feed, 2n 3d. Barley; English, 5s to 5s fid; Cape, 4s to 4s 3d. Potatoes, £6 15s to £7 13s. Onions, £l2 10s lo £l3 10s. Hides: Lights are l-8d per lb dealer, others are firm. CHICAGO WHEAT MARKET. Press Association—Bv Telegraph—Copyright. NEW YORK, June 11. Chicago wheat; July, IG2J cents per bushel; September, 159 J; December, 161 a .— A. and N.Z. Cable. LONDON METAL MARKET. Press Association —By Telegraph—Copyright. LONDON, June 12. (Received June 12, a.t 8 10 p.m.) Copper; Spot, £59 fis 3d; forward, £6O fis 3d. Lead: Spot, £33 2s fid; forward, £32 18s 9d. Spelter: Spot, £34 la 3d; forward, £33 7s 6d Tin: Spot, £232 2s fid; forward, £253 fis 3d. Silver: Standard, 31 11-16 d; fine 34 3-lfid. A. and N.Z. Cable. BRADFORD TOPS MARKET. Press Association—By Telegraph—Copyright, LONDON, June 11. (Received June 12, at 5.5 p.m.) The Bradford tops market is slightly more cheerful, with a better inquiry for merinos, but quotations are unchanged.—A. and N.Z. Cable.

Wheat. Flour. Jan.-May. Centals. Centals. United Kingdom . .. 2,973,595 319,543 Europe .. 2,418,579 — Egypt 151,033 330,435 South Africa 150,760 Orders — Japan . .. 547,922 — Java, etc 115,259 Asia 253,985 Other 216,195 Total .. .. .. 11,911,978 1,386,157