THE BREADSTUFFS AND PRODUCE MARKET.

Otago Witness, Issue 2541, 26 November 1902, Page 9

THE BREADSTUFFS AND PRODUCE MARKET.

Wednesday. The wheat market continues very firm, and at the present time very few samples indeed are offering. The local millers are still drawing supplies from Canterbury, but as only small parcels are procurable these prices show no sign of easing. In the absence of parcels offering it is difficult to state what the true market price is, but as the latest sales we' have heard of have been ofi the basis of 4s 6d per bushel for red sorts f.o.b. at Lyttelton, these may be taken as a criterion of present rates. Prime milling may be quoted at about *s 5d to 4s 7d, while from Id to 2d per bushel more could probably be obtained for pearl wheat. There is no change in the o&t market, and no appreciable alteration in prices, but as the local stocks are very light there does not appear to be any likelihood of prices receding between this and the next harvest. Prices run from 2s 7d to 2s 9d per bushel, though id more might possibly be obtained for really bright lines, which are in very short suptriy. Whole "fowl feed is still very scarce, and an advance of about id per bushel has taken place, prices now ruling from 3s 7d to 3s 8d per bushel. Friday. The local wheat market continues in an excited condition. There is very little offering, and holders are unwilling to quote pending possible developments. The only supplies available are being drawn from Canterbury. Consequently, quotations are only nominal on the basis of 4e 6d f.o.b. Lyttelton for red wheat, and 4s 9d f.o.b. Lyttelton for pearl. Opraionb differ as to the possibility of Australia drawing supplies of wheat from this market. In this connection the following c.i.f. quotations for American wheat for Australia are of interest: Per steamer cargoes per quarter of 5001b, Calif ornian wheat (choice quality), 35s 6d ; No. 1 standard, 35e. Per quarter of 4801b hard Manitoba, 345; shipment per steamer from New York to Australia. .. Whole fowl feed is almost unobtainable, and as high as 3s lOd to 3s lid ex store has been paid. Although oats have been somewhat neglected, yet in face of the light stocks any sort of a demand muet result in a rise. At present prices are only nominal, prime milling running from 2s 7d to 2s 9d, any really bright lines being worth more money. The demand for bran, and pollard for shipment continues strong, and as much as £6 10s net per ton has been paid, although the New Zealand Flourmillere' Association's price remains at £6 per ton There is evejy probability, however, of this being raised within the next few daye. The Dunedin tariff for flour remains unaltered at £11 10s per ton for sacks, £12 for 100's, £12 5s for 50's, and £12 10s for 25's. With the advancing -wheat market, the possibility of a rise in the price of flour is already being discussed. An advance in the price of offal would no doubt help millers out of the difficulty for the moment. Oatmeal is unchanged, quotations ruling from £13 10s to £14, according to brand. There are no fresh supplies of new potatoes, and prices remain unchanged at IJd to 2d per lb for round potatoes, and 2id to 2id per lb for kidneys. Old potatoes arc

1 firm for prime picked sample*, the demand I at £♦ 7s 6d to £4 15s per ton being greater I than the supply. There is a very keen demand for butter for Australia/ and evidently supplies in the Commonwealth are running short. There is also a good dematid for cheese, both for London and for Australia. Locally cheese is coming forward slowly, and is in good demand at 6id to 6£d. Salt butter is inquired for. Fresh equal to factory is sell- . ing at lOd and storekeepers' at 8d Heavy ■ supplies of dairy butter are to hand, -and it is hard to move at 7d, the bulk of , last week's supplies being cleared at 6d. | Eggs are very firm at 9d, and a ris9 is not ! unlikely. _ • j Pigs contimue very scare©; baconers up ' to 1601b are worth sd, and over-weights , 3id. Poultry is a shade easier. Roosters from ] 3s 6d per pair and hens 3e per pair; ducks, 4e od per pair. Turkeys: Cooks 8d and hens sd. Geese, 5s od per pair. Bacon is in good demand. Prime rolls may be quoted at 8d and inferior od to 7d. Hams keep from 9d per lb. Saturday. As was anticipated, the New Zealand Flourmillers' Association have raised th« t price of bran and pollard from £6 to £7 per i ton. In the present condition of the wheat market it is exceedingly probable that the ; price of flour will be raised at least 10s per ton between now and the end of the month. As bearing on the question- as to how far the demands of the Commonwealth are likely to aff»ct the New Zealand wheat market, the following extract from the • Melbourne Age is of interest: — "A fair average consumption of wheat for the Comonwealth would be 21,500,000 bushels, and estimating the wheat production for 1902-1903 at 16,050,000 bushels, this means that during 1903 it will be necessary to import tomething like 8,450,000 bushels. The bulk of this- will be drawn from America, and some perhaps from India, while later on, if the New Zealand new crop yields a surplus, that will all be taken for Australia. San Francisco supplies are reported to be in rather small compass, and it may be even necessary to go elsewhere for foodstuffs. The present import cost is 5s 2d (dutypaid), Melbourne. Should present high prices for bran and pollard continue, the importation of wheat is likely to prove more profitable than bringing in flour.' Messrs John Darling and Son, writing' from Adelaide under date November 11, state: — Wheat.— The -weather has been, favourable ■ during the past few days, and in the early districts reaping has already commenced, and so far with satisfactory results, quality and yield being good. Buyers hay» hardly yet fixed their ideas aa to what is a safe price to open, and values are somewhat wide. To-day's quotations may be given as about 4s 5d per bushel outpoxts, and 4s 7d per bushel Port Adelaide for November delivery, for farmers' lots Shipping parcels would, of course, command higher_ prices. Value of old wheat on spot is 5s per bushel, but the quantity offering is extremely limited. Considerable quantities of California!) wheat and Manitoba, wheat and flour are under order for the Australian States, representing, as' far as can be gathered at present, 40,000 tons in all. '. Flour. — There is no new feature to report in this. Values are more or less nominal at £9 10s to £10 per ton for ordinary, and £10 10a per ton for best patent roller (f.0.b., Port Adelaide). The immediate, effect of tte scarcity of milling wheat has been the closing-down of at least one Dunedin mill, for the present, and others are likely to follow suit. The developments of the next few weeks promise a certain amount of interest.

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