DUNEDIN PRODUCE REPORT.

Otago Witness, Issue 653, 4 June 1864, Page 12

DUNEDIN PRODUCE REPORT.

June 4, 1864.' We have nothing new to report with respect to the produce market. The advices, however, just received from Melbourne may have some influence within the next week. The "Argus,'* in commenting upon the late speculations in flour, remarks:—" The game is nearly over. So far it has been a very piretty one. Unfortunately, as hi all games of speculation, everybody can't win. There must, 'therefore, be the victim, and we. shall not be surprised to hear that the farmers have their revenge. After all, if the speculator aims at a great profit, he runs a great risk.

Sometimes he wins, but the chances are tolerably equal that he loses. Under' any circumstances, the compensation is not more than adequate to the risks incurred. For the monopolist, it is a trial of strength between, himself an 4 the consumer, and as frequently as not the monopolist pays the penalty in the end. In the present flour monopoly, we have no means of predicting bis fate, but we see no reason to suppose that he wfll' escape the consequences of his ventttresomeness. The policy «f his natural antagonists is plain enough. It will be the business of buyers to give their custom warily. No temptation should induce them to take a rash advantage of the reaction in prices that must now follow the explosion of the scheme. A little abstinence may involve a temporary sacrifice, but the ultimate gain will repay. Taking into consideration the magnificent harvests in America and England, the eagerness of the Australian consumer, in whom our interest is centred, must, in due course, be amply gratified. With the prospects of supply now opened up to him, he should very soon be in a position to command bis own terms. He may reasonably expect to see the loaf as disproportionately cheap as it' is now disproportionately dear." '

Bablbt.— The stock is low, but demand is quite limited. We quote at 5s 6d. Crushed fa worth 6s to 6s 3d. "

Bran. — Small lots bring Is lOd to 2s.

Butchers' Meat.— Beef, by the carcase 7d to 8d perlb. Market pretty well supplied. Fat sheep, 7d to Bd. A plentiful supply. Pies 9d to lOd. Supply moderate. Calves, 9d to 10d. A fair supply. Lamb. 9d to lOd. . Market fairly supplied.

Chapp.— Supply equal to demancLJ^We quote ii" to i,*>

Gram.— Little or none in market. Price £15 to £16.

Hat. — Demand for consumption is now almost wholly supplied by Provincial, which is of excellent quality, and commands £6 10s to £7.

Maize.— The market is now quite bare. Small lots are worth 7s to 7s 3d. Oats.— New crop is worth, in large quantities, 3s 9d to 4s 4d. Good Colonial and Californian. 3s 6d to 4s 3d. Scotch, nominal. Onions are again on the decline. ' Potatoes. — Stocks in town are considerably reduced, and prices remain firm. Wheat.— The stock is held by one house, and we can quote no sales.