CHRISTCHURCH CORN EXCHANGE.

Otago Witness, Issue 2006, 4 August 1892, Page 23

CHRISTCHURCH CORN EXCHANGE.

The following is the Corn Exchange report (per Fred. Denham, secretary) for the week ending August 4 : —

Wheat : The maiket for millers' requirements remains firm at last quotations, but we would point out to sellers that buyers do not care to pay top price (3s 8d) for grain that can be tied together by the sprouts and hung over a clothes' line to dry, and to our sorrow we have had some deliveries of this sort which was guaranteed as never having seen a drop of rain. Barley : A little demand for pearling. Oats : Firm at quotations. Potatoes : We hear of a considerable quantity still in the ground, and we fear that last ■week's rain followed by frost will rot most of them. Grass seed : The usual spring demand has eet in, but we cannot report any improvement in price the stocks being heavy. The following are prices paid to farmers f.0.b., packages extra (potatoes excepted) : — Wheat : Prime pearl, 3s 8d ; Tuscan and Hunter's, 3s 7d. Barley : Malting, 4s ; pearling, 2s 6d to 2s 9d. Oats : Milling, 2s : feed, Is 7d to Is 9d. Potatoes, 15s at country stations. Beans, 3s Id. Peas (blue), 3s 2d ; field, 2s 6d. Ityegrasa (machined), 3s fid. Cocksfoot, 2Jd to 4d. Butter and cheese : Wanted ; we canot quote.

THE HOME MARKETS.

Wool.— Reporting on the wool sales under date June 23, Messrs Charles Baline and Co. state :— " The clip of New Zealand is at this tinie of the the year very largely represented, and its character and condition on the whole possibly show some improvement upon the 'Nery poor average of the preeeeding season's production. In the ca^e of merinos, however, the change for the better is very slight, and the wasting, sodden, and stained appearance of many of the shipments coming under this category tends lather to lestrict the demand for them." Messrs Jacomb and Son and Co. report :—" Crossbreds have rather agreeably disappointed the market generally ; in the face of large supplies of rolonial and other kindred descriptions, a weaker demand and lower prices were anticipated than have practically resulted ; It is only the mixed and inferior parcels which do

not support our previous auctions' currency and the depreciation on these is but small ; middle and faulty scoured such sell unsatisfactorily ; but lambs' are in bribk demand at full rates." Messrs Willans and Overbury refer to some of the New Zealand clio in grease as being short-grown, inferior and bad conditioned having fallen id to Jd in price.

[Wheat.— Messrs W. Weddel and Co. in referring to the wheat market attribute the steady decline to favourable reports and the improved statistical position, and the fact that English farmers accept the low levels reached. In June the visible supply in America was 26,000,600 bushels as against 14,657,000 at tho same date in 1891. The quotations for New Zealand were :—: — Sound long berried, good to fair, 35s to 36s per 4961b ex store ; sound short berried, good to fair. 32s 6d to 33s 6d per 49(ilb ex store ; inferior and sprouted parcels, 30s to 31s per 49Glb ex storo. New Zealand Oats. — A fair demand has been experienced, and prices have latterly tended to harden slightly. Heavy qualities are worth 25s 6d to 275, while lighter and inferior parcels may be quoted at 23s 6d to 25s per 3841b ex store. Frozen Mutton. — Messrs Weddel and Co. icport : — "The increase in storks of New Zealand has gradually told upon values, and the past week has witnessed a further decline of Jd per lb for medium and inferior grades. Some holders have been less firm than might have been expected, and a few sales made at reduced rates have somewhat disorganised the market. The condition of several of the cargoes lately arrived has been far from satisfactory, and it is certainly very disappointing to find that, after a brief period of general improvement in this respect, the defects of the existing System of divided responsibility have again been made so apparent. The amount recoverable from shipowners under those bills of lading which render them liable for depreciation up to the amount of the freight, represents a comparatively small proportion of the loss incurred by shippers, directly or indirectly, through meat being landed in bad order. Not only is the reputation of frozen meats prejudiced thereby, but the market is inevitably adversely affected, and thus it happens that even good, sound meat suffers by the importation of damaged parcels. The quality of the shipments now in course of realisation is not altogether desirable, a very large proportion of heavy, fat carcases being in each cargo. This is, of course, to a large extent beyond shippers' control, but we fear that the prices obtainable here for such descriptions may be rather discouraging, having regard to the prices ruling in the colony. Recent arrivals of River Plate have shown a further improvement in quality. Current quotations:— Prime Scotch mutton 4s 8d to 5s per Sib, do English do 4s 4d to 4s Sd do, do foreign 3s rd to 4s do, do New Zealand mutton 2s 8d to 25.10 d do, secondary do do 2s 6d to 2s 7d do, inferior do do 2s 4d to 2s 5d do, prime do lamb 3s 8d to 3s lOd do, secondary do do 3s 4d to 3s 6d do, prime River Plate mutton 2s 3d do, secondary do do 2s to 2s 2d do."

Cheese. — The demand has fallen off to some extent, and prices are barely maintained at 48s to 50s per cwt. for finest American and Canadian (new). New Zealand parcels have receded in sympathy, and cannot now be quoted over 48s to 52s for best, and 40s to 46s per cnt. for inferior and secondary,