COMMERCE AND FINANCE

Otago Daily Times, Issue 19952, 20 November 1926, Page 10

COMMERCE AND FINANCE

DUNEDIN MARKETS. Daily Times Office, Friday evening. The wheat market has changed again Jnce last week, a substantial drop in prices having taken place in the Sydney market. Quotations there are now at 6s 2d, f.0.b., s.i., and it is reported that parcels can be secured down to 6s f.0.b., s.i. These quotations are for milling quality. Wheat required for poultry feeding can be brought to New Zealand free of duty, under arrangement with the Government, but mill ing wheat has to carry a duty of 2s per cental. The landed cost, free of duty, is about 7s id to 7a 3d. sacks included. As millers are not operating, the only local demand is on the part of poultry feeders, but buyers are acting cautiously in the face of the latest advices from Australia. The Australian prices prevent any parcels going to the North Island from the south, and lines of fowl wheat available have to find a sale in the South Island. Advices to hand state that the crops in Australia are looking particularly well, and given a continuance of the present favourable conditions good returns ohouid be obtained. So far as the New Zealand crons are concerned they have had plenty of moisture, and all that is required now to ensure good returns is a spell of sunny weather.

Millers’ prices for flour are as follow: 2001 b. £l9 ss : ICO’s. £2O ss: 50’s, £2O 17s 6d: 25’s, £2l ss. Bran. £7 10s per ton'. Bollard, £9 ICs. Oatmeal—2s’s, £25; 2Co’s. £.24.

The oat market continues in a depressor! condition, consequent on a desiro to sell by holders, and a lack of inquirv by the ordinary users. A Gartons have been sold at 3s 10d f.0.b., s.i.. for prompt shipment, and B’e at 3s 7d. The prospects of the market are not; encouraging, and merchantaro therefore disinclined to carry over stocks to the next season. Millers are nor operating at the present time, and they are still feeling the effects of importations of the manufactured goods from outside sources. North Island reports go to show that the consumptive demand there for oats is negligible, and that grain merchants as a consequence are not interested. Odd parcels of oats are still being offered from farmers, and the current basis of values for these is 2s lOd for A’s, on trucks, and 2s 7d for B’s, sacks extra.

The demand for chaff is confined to the local market, there being no shlppimr inquiry. Recent importations of chaff to 'Auckland have over-supnlied the market there, and further shipments are due for the northern market in December. _ Under these circumstances it is doubtful if there will be much more shipping business from the south for some time to come. Best quality is realising about £5 _los per ton, sacks extra, ex truck. Dunedin. Medium and poor quality is still in over-supply, and is almost unsaleable.

Cablegrams received from Sydney during the week state that there has been a boom in potato prices there, and that up to £2j per ton has been paid. In an endeavour to catch the bigb market some New Zealand merchants have again started shipping. It is not thought that the boom in prices in Sydney will last long, and the shipments from the Dominion will not therefore bo very large. Despite the shipments the local markets are still oversupplied, and prices have not improved. Good quality table notatoes are to-day worth about £3 to £3 Ids ner ton. sacks included. Supplies of North Island new potatoes have eased off. These are being offered for shipment at £lO per ton, f.0.b., s.i.

Current wholesale prices for produce lines are as follows: Chaff, £5 10s per ton. Potatoes, £3 to £3 10s (ton lots) Dairy butter: Best milled, hulk, lg to Is Id per lb. according to quality; separator pats, ll|d to Is. Kggs.—Stamped, Is 7d; case, Is 6d.

Bacon. —Roll, la 3d per lb. Hams, la 4d per lb; boneless, Is sd. Onions.—Canadians, 21s. FRUIT EEPORI Business has been fairly brisk during the week.

Supplies of green peas and gooseberries have increased. A few lots of cherries have reached the market from Canterbury and Central Otago. The next shipment of Sydney oranges is on board the Karotu, due here on Tuesday. A small shipment of Fiii bananas is on the way from Auckland, and is due early next week. High prices are expected, as the fruit will have to bo brought overland to Wellington. Some 800 cases of Canadian apples, mostly Jonathans, arrived on the market to-day (Friday). A shipment of Californian apples is due in Wellington on November 22, and should bo here a few days later. Grapes and Washington navels are on the same boat as the Californian apples. Navels are at present in short supply in the local market.

New Zealand-grown Sturmers are getting Into short supply. The apples now coming forward are small in size. The market is bare o % North Island grown potatoes, and the *small lot that arrived this week sold readily. Locally-grown new potatoes are a little more plentiful. The lack of sunshine is affecting the growth and the supply. Cauliflowers are in good demand, and anything choice brings high or ices. Lettuce and cabbage are also in better supplv. Current wholesale are as follows: Apples.— Delicious, choice. 10s per easel extra choice, 12s 6d : others 5= to 6s: Sturmers, choice. 9s to 9s 6d : extra choice 12s: small, 3s 6d to As 6d ; cookers, 4s 6d to 5s 6d; Canadian. 18s to 19s. Oran-res.—South Australian, 255; Sydney, 22s to 255. Lemons.—Californian. 35s per case. Bananas.—Et'po, 35s to 40s ner case. Asnaragus, 10s to 11s 6cl per dozen bundles. Cherries, Is 4rl to Is 8d per lb. Cauliflowers, 10s to 14s per sack (choice onlv); others, 5s to 8s per sack. Green peas. 4d to 6d. White turnips, 2s per dozen hunches. _ Potatoes (old), 5s per cwt: new Peninsula, 9d to lOd per ]h: North Island, 2id to Pe-ars. —Conference nnd P- Harrv. 6s to 7s pe- half oase;Wintcr Nelis, 5d to 6d per lb. Gooseberries. 4d to 5d per lb. Cucumbers. 12s to 16s per dozen. Christchurch tomatoes. Is 8d to Is 10d per lb- seconds. Is 2d to Is 4d; local hothouse from Is lOd to 2s; Island, to 12s 6d per case. Rhubarb, 3d to 5d nor lb. Cabbages : Choice. 3s 6d to 6s per sack of two dozen; others. 2s per sack. Beetroot. Is to Is 6d ner dozen bundles. Leeks. 3d to 4d per bundle. Spring onions, to 4d per bundle. Lettuce; Choice, to 5s ner dozen; others, 2s to 4s. , , Carrots, new season. Is 6d per dozen bnnebes; small. Is. fvninaeb. 2s to 2s 6d per dozen bunnlms Voo-pfable marrows (Australian), 25s to 28= 6d per case. CHICAGO WHEAT PRICES. (Frfcßß Apponintmn Rv *Vlecniph--C'opynclil 1 NEW YORK. N'-wemW Chicago Wheat—December, 135 i cents per bushel; May, 139?; July 133. A. and N.Z. Cable. . MELBOURNE MARKETS. (Press Association —By Telegrapi.' Copyright ) MELBOURNE, November 19. Wheat.—Quiet. Prices are nominal. Old •wheat—sellers. 6s; new. prompt delivery, about 5s 8d; January, about 6s 6d. Flour. —£15 10s; cash, £ls ss. Oat?.—Milling. 2s lid to 3s; feed, 2s 7d to 2s Bd. Barley.—English, 4s 3d. Potatoes. —£14 to £ls. Onions.—£3 (ex bags). LONDON RABBTTSKIN SALES (Press Association—Ev Telegraph Copyright.) LONDON. November 18. At the rabbitskin sales 3300 bales were offered. There was fair general competition for furriers’ sorts, which brought 10 per cent, above the September prices. Medium hatters sold at late rates to 5 per cent, decline. Lower grades showed a 5 per cent, to 10 per cent, advance. German buyers competed strongly for the best furriers.—A. and N.Z. Cable.

LOCAL AND OVERSEAS MARKETS.

CANTERBURY MARKETS. (Per United Press Associatil.:.) CHRISTCHURCH, November 19. Business in the produce market continues to bo as quiet as it has ever been at this time of the year, and there does not appear to be any immediate prospect of improvement. A small amount of business has been done in next year’s wheat, the prices paid being on the basis of 6s on trucks at country stations. Owing to a reduction in the values of whegt and flour in Australia, which has been brought about through the coal strike in England resulting in shipping freights having to be raised in order to meet the increased cost of coal, a good many buyers have withdrawn in the mean time, and this is having an adverse effect locally. A few sales of fowl wheat have been made at rates equal to 7s 6d f.0.b., but inquiries have come mostly from retailers, millers not being interested in the business. No oats are being sold at present, the opinion among merchants being that prices will have to come down considerably before business ins this line will improve The local consumption of oats is decreasing every year as the ponularitv of motor transport increases, and. according to one merchant, it will bo a matter of surprise if the new season’s prices open at more than 2s 6d on trucks at country stations. The new season’s Partridge peas have been offered at 6s, but very little business is being done at present. The trade in potatoes is practically at an end, although a few odd lines are still being disposed of The Whangape, which left for Sydney earlier in the week, took 1600 sacks, and it is reported 'that a further small consign ment will be shipped next week. A few lots are also being shipped north since recent rains in the North Island had the effect of holding up supplies of new potatoes temporarily. So far as the local crons are concerned, they are looking very well, and the prospects for the new season are good, provided no further rain falls for some time. OAM ARU MARKETS. The Oamaru markets fiave shown little improvement on last week. Last season’s wheat is now cleared up and the dealings in the new harvest are awaited with interest. It is impossible to say what the prices for the new season will be, though there is a strong feeling that they will not be much lower than last season. The oat market is dead so far as this year is concerned, and those who are holding are a little anxious concerning the future. It is reported that forward delivery sales have been made for next season’s A Cartons at 3s lid per bushel. Oaten sheaf chaff has been sold at £5 5s per ton at country stations. Grass seeds are not much in evidence, though one or two sales have been made. The live stock market is approximately the same as last week. Forward lambs for delivery in February have been purchased at 21s, 21s 6d and up to 22s 6d. Failing mouth ewes and lambs all counted have sold at 11s to 15s. Fat wethers (shorn) have sold at 26s to 29s 9d. owe ho""eti 38s to 40s, wether hoggets 245. Verv little has been doing in cattle. Bullocks have changed hands at up to £l6, but the average price is from 35s to 37s 6d per 1001 b. Heifer beef is selling at 30s per ICOlb and cow beef at £l. DAIRY PRODUCE. The Otago Farmers’ Co-operative Association of N.Z. (Ltd.), has received the following cablegram from its London office: The butter market quiet, but steadier. New Zealand: 136 s to 150 s. The cheese is slow. New Zealand: oOs to 85s. (Press Association—By Telegraph—Copyright.) LONDON, November _ 18. The butter market is slow. Danish is about 1745. There is a fair trade in new season’s Australians. Cold-stored New Zealand is unchanged in price, but buyers consider that the New Zealand control prices of the new arrivals, 148 s and 150s *.,^ e too high, consequently there is very little selling. The multiple shops have reduced the retail price of the best salted to Is is slow. New Zealand, 84s and 85s.—A. and N.Z. Cable. SUMMER SHOW. OTAGO A. AND P. SOCIETY. The Otago A. and P. Society has made complete arrangements for the handling of stock in connection with the forthcoming show, and has arranged a detailed programme for both days. P The fust day will be devoted to the )ud„in- of Clydesdale horses (for which tnere is "keen competition in most of the classes), and sheep, cattle and pigs. It w expected that the judging will be ... c< ?™ p |®l et with’ pony th trot a s t te sheep 'dog trials and D.J) .m b. . heavy one. and the whole day will hofufiy occupied. Judging of draught horses, harness, hackneys, cobs and ponies wil start at 9 a.m. and a sale of pedigree stock will bo held at 0.50 a.m., when red polled cattle from tor Heaton Rhodes s stock and from the Galloway Experimental Farm will be offered; also Frisians from the farms of Messrs H. North and Sons (Omimi) and D. Board (Mihnvaka), and Messrs Gillies and Galloway s Experimental Farm Ayrshire*. . . , x . At 10.30 a.m. Mr J. Pritchard, New South Wales, will demonstrate on a Friesian animal, and a judging compctiUcn will be followed. The committee hopes to complete the judging m all sections by 1 o’clock, and the afternoon will bo devoted to pony trots, sheep dog trials, hunting competition (ladies), leaping and hi„h * The grand parade of stock has been fixed for 2.15 p.m. and as it entails a considerable amount of labour being secured to handle the stock, the parade has been definitely fixed at that hour, and all other events will stand over to allow the parade to be hold at the time specified. BRADFORD WOOL MARKET. (Press Association—By Telegraph—Copyright. 1 LONDON. November 18 (Received Nov. 19, at 5.5 p.m.) The Bradford tops market is steady. but cautious, and prices are firm ’ Sixty-four's nualit- 45id sixties 43d fiftysixes Slid, fifties 26d. forty-sixes 21d, forties 20d.—A. and N.Z. Cable. P. AND 0. SHAPES. (press Association—By Telegraph Copyright.) LONDON. November 18. P. and 0. shares are quoted at £252. A. and N.Z. Cable. Messrs Fraser and Co., agents for Otago Egg Circle, report as underAJg Circle eggs, Is 7cl; case eggs, Is 6d; market firm. tallow: Market firm from 21s to 265. Honey: Good demand; prime bulk, 5d to Sad; undergrade, 3 s d to 4d; tins, 5s 6d; sections, 9d to lOd. Butler: 11b pats. Hid to Is. Pigs: Good bacon weights, Bjd; porkers 8d to Bid. Wo are agents fo r Pareora moat meal. VVe stoch. Star P. chick feed lucerne meal, poultry meal, oats, maize, wheat, bran, and pollard. Champion egg crates. 18s; leg ring* Is per dozen (special quotes for quantities). New potatoes, 3d to 3-id. Poultry :We submitted a full yarding, and prices for all lines were down, hen*. Nve «oicl as under: Hons, 150 at ss. 250 at 6s, the balance from 6s 2d to 7s; well-grown cockerels, 8s to 12s; staggy. from 4s to 6s. Ducklings, 7s 6d to 11s;_ ducks. 5s to 6> Gel; goose, 6s to 8s 6d; pmcons, Is 6d (all at per pair). Turkovs: Gobblers, Is 3d; hens, Is 2d per lb dive weight). _ Consignors please note that rues and poultry must arrive not later than Wednesday mamine - of each week. We nave a stock of poultry crates on band for the use of our clients.

NAPIER WOOL SALES. FUTURE PROSPECTS BRIGHT. (Pee United Press Association.) NAPIER, November 18. The first Napier wool sale of the 192627 season has nassed off and, just as almost everyone expected, there was a decline in values on those prevailing in March of this year. The prices realised were on a parallel with those realised at Wellington on Monday last. The sale, taken right through, was better than most brokers expected, and there was a tone about the market that gives a hopeful sign for the immediate future. Bradford, France, and Germany and, in fact, most Continental countries, America, and the Dominion buyers operated. The competition was well distributed, and increased as the .le progressed. The wool offered opened up tender, thin, and short in staple. Bradford lifted the bulk of the catalogue. The American buyers took very little, but there was keen competition among the Continental buyers for pieces and bellies. The catalogue comprised 16,234 bales, and about 85 per cent, or more were sold under the hammer.

The range of prices was as follows: Southdown. —Super, 16Jd to ISJd; average, 143 d *o 16d. Fine Halfbred. —Super, up to 16d. Corriedale. 13Jd to 15-id. Coarse Halfbred. —Super, 14d to 15id; average, 12id to 13Jd; inferior, 10id to 12d. “ '

Fine Crossbred. —Suucr, 13d to 143 d; average, lid to 12d; inferior, 93d to 10L1. Medium Crossbred.- —Super, 12d to 13Jd; average, KUd to Hid; inferior, S3d to lOd.

Coarse Crossbred. —Super, 12d to 13d; average, lOd to Hid. Low Crossbred. —Average, 9Ad to I0id; inferior, up to Bid. Hoggets.—4B-50 14d to 153 d: 46-48, 12d to 133 d; 40-44, Old to 12id; 36-40, up to lOid. Lambs.—Fine, Hid to 12Jd; medium, lOd to lid.

Seedy and inferior, up to 9Jd. Pieces and Necks, lljd to 14Jd; halfbred, up to lljd; crossbred (good to super), 104 d to 12d; crossbred (low to medium), 84d to OJd. Bellies.—Half bred, Sid to 9Jd; crossbred (good to super), 83d to XOd; crossbred (low to medium), 6d to Bd. Crutchings.—Medium to good, Bid to lOd; inferior and seedy, 4d to 7d. Locks.—Crossbreds, 4Jd to 73d. AUCKLAND WOOL SALE. CLIPS ARRIVING FREELY. (Special to Daily Times.) AUCKLAND, November 19. Clips for the first wool sale of the season, to bo held in Auckland next Friday, have been coming in very freely during the past week, and it is anticipated that when the catalogue is closed it will be found that the offering will closely approximate last year’s first sale record of 16,156 bales. Some excellent clips have come to hand, and in the general run the wool is well grown and light in condition, the wet weather having had the effect of removing from the wool a great deal of the weight producing greases. What is lost in weight, however, will, it is expected be made up by enhanced prices for lighter wool. In common with past Auckland sales, the bulk of the wool is medium crossbreds, but there is also a fair proportion of Romney.