MARKETS.

Otago Witness, Issue 1911, 6 July 1888, Page 7

MARKETS.

■The wheat market is slowly improving, but it is ridiculous to see how wonderfully chary buyers in these degenerate days are in giving an extra sixpence tor a quarter of wheat, even when the prospects of the European and American crops n're worse than they have been for many years. A? far as the statistical position and crop prospects go, wheat should be selling at 50s instead of at a few pence over 31s — the average for England at the preeent time. There, is an unusually small stock of old wheat in the* world, and tha new crop In nearly xii European countries and in America is very much below average in condition, while India has not a large surplus, and seems quite indisposed to accept our absurd prices. Barley and oats have both gone up in value lately. Last week the average was 3ls 5d per quarter fot wheat, as compared with 30s for the week ended April 7. tho lowest average for any week this year; barley stood at 32* 4<l, against 29s 3>i as tho lowest weekly average of the year ; aud oats were 16a 9d, as compared with 15s 5d as the minimum of weekly averages since the Ist of January If we do not see a substantial rise in the price of wheat before harvest, it will bo useless in future to consider probabilities in that connection at all. Live stock markets have improved a little, and will improve more if feed grows fast after tha rain. London prices for anything good nre better than they were a yrar ag", but not for coarse or otherwise inferior eatr.le and sheep. Iv tbu circass market, on Monday, New Zealand inn< ton wpnt ac 2< 01 to 2s 8 1 for BU>, as compared with 3s 4<l to 4s for middling English, and 4s 4d to 5a for prime English or Scotch. Butter is just now n drug in the market, Cork firsts having gnt down to 74s per cwt, and the top price, of Normandy fresh U 975 ; yet feed has not been at all abundant at present, and we must expect butter to fall in price for scvernl weeks to come Cheese holds up in ralue well for the time of year.