THE BREADSTUFFS AND PRODUCE MARKETS.

Otago Witness, Issue 2664, 5 April 1905, Page 21

THE BREADSTUFFS AND PRODUCE MARKETS.

I riday. The Home wheat market, according to this week's cables, is duil, and buyers are ; inactive. Heavy shipments from Russia and ■ the> Riyer Plat© were noted in the early J part 01 the week, and the total quantity j of wheat and flour afloat for the United Kingdom as at March 28 wa» 4.220,000 quarters, and for the Continent 1.840,000 quarters, while the Atlantic shipments were 13,000 quarters. These figures show a decrease on those of last week of 105.000 quarters for the United Kingdom, an in- \ crease of 305,000 for the Continent, and the ! Atlantio shipments show a drop of 17,000 ( quarters as compared with the previous j wee. Th.era is thus on the whole whole a substantial inci-ease in the wheat | and flour afloat, and with so much on the j wafer it is only to be expected that spot ; cargoes will be dealt In sparingly and I the Home market dull in tone. Latest ■ advices do not show any very marked drop in prices and on Mai-ch 26^ som<- 13 500 ! quarters of Victorian March and April ship- j raecH of wheat, sold at 32«. < Und'T flato London, February 17. " Bpt- ' bohm "' reviews the wheat situation as fol- j lows : — ' Thp unfavourable crop news from India lias had the effect of causing a smait advance in Indian wheats, and in a lesser degree this has been reflected upon La Plata descriptions and Russians. Australians are also held latlier higher, but are difficult to sell at any advance. It is quite natural that any proba- ,' bility of a lessening supply of Indian wheat should i.iTe a strem> then 2115 c/i'e.;t upon the | market, because, as wo showed last week, it is necpssary th-\t we should have fully as much. Indian and Russian wheat dunng" the next six months a« we have received in the past five months 11 our foreign supplies duiing this period are to equal our current requn <^ ments. Meanwhile theie must, of course, be some doubt as to the rea' damage done to'the Indian crop, and as Russia is exporting more freely than exi?ectec7. and Argentina shmmng very liberally, there }s no need to depart" from the policy ox caution which has characterised the buying portion of the trade for some time pa.=t The Sydney market *!w jV s a sliql.t e-.^-ment, and wheat 1= quoted (nominally) at 3s 3d. T'io Melbourne market show- a de-. elme 111 price, ri.e cuiT&nt quotation- being 3& C<.\ to 03 4d, :t* against 3s 4d to c« 4-^d

last week ; and Adelaide quotations remain the same as previously. The Sydney flour market is unaltered, but fi-ere is a fall in the Melbourne market, and Adelaide is un-altc-reci. The local wheat market has been exceptionally dull during the week, and tho number of sales has not been large. The sales that have taken place have been in , favour of the- buyers at slightly below last week's prices. The Home market being weak, tliere is naturally more cr less reaction on the- colonial markets, and as local millers are all well supplied for immediate wante there is a disposition to hold off and awai-L- events in the expectation that prices may recede further. Values all round were fully a penny lower than last week— viz., for velvet and Tus-oan 3s 2d to 3s 3d on ! trucks for prime milling, and 3s to os Id ' for ret) sorts. There is still a good deal ; of wheac coming in out of condition, but come of the merchants report that a few samples lately received are of better quality. The reason assigned for the softness of ' quality is that the grain has been threshed ' too soon after being cut. A quantity of wheat ! has arrived from the Taieri district during the pa,=t few days, and has been sold at 3s Id to 3s 2d on trucks. | The Christchurch Press reports.- — i Tlie grain market is somewhat easier, growers now being more inclined to accept the prices offered, and a fair quantity has ■ changed hands during the past few days. A , considerable proportion of the wheat submitted is discoloured, and in some cases , sprouted, and the worst lots are being bought , for fowl feed. Only extra prime samples -will now sell up to 3s 3d at coiintrv stations, prime ( bright wheat being worth 3s "id to 3s 2d, and off colour and damaged 2s 9d to 3s. Among ! the sales reported are 2500 bushels of veiy prime Tuscan at 3s 3d, 2000 bushels of pearl at 3s 2d, 1300 bushels at 3s Id, Hues of pearl j at 3s Id to 3s 2d, and a quantity of inferior , wheat at 2s lOd to 3=, at country stations. I The South Canterbury market is reported to be over-supplied, and wheat sales which , have taken place are said to have been made at lower prices. . The- quality of the wheat [so far coming in has not given general I satisfaction. Messrs T. Buxton and Co. report :—" Barley is inquired for. but none ,of the-^ right quality offering. Sheaf chaff j is in demand if prime bright stuff, which is scarce. Potatoes are not considered safe ' . to trade in owing to disease, which will no doubt reduce the quantity available con- ! siderably, but still by no means destroy the j whole crop. Current prices aro as follow: — ' Wheat: Old (small stocks), 3fi Id to 3s 3d; new Tuscan and velvet, 2s lid to 3s 01)7 Hunter's, 2s 103 to 3s (sacks extra, country stations). Oats : Canadian, Is 7d to Is 8d ; ' Gartons— good Is 6d to Is 7d, fair Is 6d; I Danish, Is 5d to Is 6d ; Duns, Is 7d (sacks ] ■ extra, country stations). Barley: Prime i ' malting, 3s 6d to 4s< discoloured "(medium). ' 3s to 3s 6d; feed, 2s 3d to 2s 9d. Sheaf chaff: Good bright, £2 10s (country stations), j The local jchick wheat market is slightlybetter than last week, and an increased deI mand is chronicled, with prices about the • same as formerly. j i Thero is no change in the price of flour. | The Now Zealand Flourmillers' Associtaion's i tariff stands as follow* : —Sacks £10; 100's £10 10n; 50V, £10 15s; 25V. £11. The shipping price, is £9 10= f.o.b. ! The pollard market is unchanged, and a , scarcity is still recorded. The offal market is I unaltered. The price quoted is £5 per ton I for local orders or for shipment. Bran remains at £3 10s for local order, and £3 for shipment within the colony, and there is good inquiry for shipment" beyond the colony, and "shippers arc offering- as high as 52s 6d to 555. Very few lines of oats are offering- in the j local^ market. The demand is fairly acti\c, ; but farmers are so busy harvesting that they have no time to deliver supplies. It is ! expected that within the "next few days ! larger supplies will come forward, and in I that case prices may be expected to ease a I little. A grade is worth about Is B£d, B ! Is B<l, f.a.q. Is 7£d, and C grade Is 7d. I So far the oats offering about Gore have not been in large quantities, and farmers appear to be holding for good prices. Mer-c-bants incline .generally to the opinion that the firmness of the market is only of a temporary character. The Christchurch Press, says: — "Oats are being disposed of more freely, as "rowers are evidently beginning to realise that the Southland crop will shortly be on the market, and on Saturday the3>- showed a disposition to reduce their prices to the level of buyers' limits, in some case.? 2d per btishol l"*s being taken than was asked. Among the sales that took place were 600 busliek of at Is 7id, ?250 bit-hols of feed Uartons, and lOOCf bushels of Dan Mi at I*. 6d'. £>c country stations." In South Canterbury oats arc --.aid to bo selling- fairly well ft late rates, dune being particularly in request. The price of oatmeal n mains P t £9 10? nf-i 1 ton; and pcirl barley at £14 to £14 10s per ton. Sample*, of bar!°y from tho 1 Lakes districts should ij-5 offering \ cry shortly. Potatoes coming to Laixl am mo^e or lc-s aifi cted with diiP-a^e, and Deiwcnrs h<s\i' more than the \vhi + e vancrics. Good vhi r e samples ha\e 'ufvn sold ud to £b. aiiu Derwem* are q.'olnj fiom £3 10to JCS 10-. The laiioi are coiuiiiv> forwani in \]!i*i;io 1 cin'mon. iv <\ ha\» to ho ,-,old imirv"duito!j. or they v. ill iiot keep, and the market h well -implied. "White .mdil> are in. good demand. Tiic Chntuhui eh Press regoi 1»

that the potato market ia quite disorganised owin^- to disease, and very little business is doing. Butter is quoted as follows: — Separator, ,' 8d to 9d for pats; bulk, 8d to B^d ; farmers' lots, 6d to 7d ; bulk salt butter, 6d to 7cl ; first grade factory, lOd for bulk and 10id tor pal.3. Milled butter is in smaller supply, and is gelling at 7d to 7id f.o.b. first and second grade. Owing to very dry weather prevail irVg^in the North Island the factories are asking, and are getting, high prices, and 9S?d has been paid for April 1 makes, and about lOd for May-June makes. ' The prices are evidently for local trade, as London could not operate at these limits. Cheese i» selling in town at 'from 4^d to 4|d for medium. There is not much doing in tho local marker. Considerable supplies ' are coming in from the North Island. Trengrouse and Co. cable that they are selling- consignments at 57s per ewt. This would give factories 5d free at port. ; Eggs arc still very scarce, and meet with j ready sale at Is 4-d to Is sd' per dozen. I The poultry market remains unchanged. I Quotations : — Roosters, 3s to 4-s ; hens, 2s ' 3d to 2s 9d; chickens, 2s 6d to 3s 6d per j pair; ducklings, 5s 3d to 3s 9d ; geese, 4s I 6d to 5s ; turkeys — gobblers 9d to lOd per 1 lb, hens 4£d 10 sd. j Pigs arc still in good inquiry. Baeoners I are quoted at 4-d; overweights and' underI weights 3d ; choice baconers, 4<l. 1 The quotations for ham are the same as last week — viz., 7j,d to Sd, and bacon at 7d to 7±d. The cheese market is about the same as last wee-k. Prime oaten sheaf is in firm request. The , ie>ea! demand is almost entirely confined to this class of chaff. Medium and inferior is in plentiful supply. Quotations : Prime £3 7s 6d to £3 12s 1 6d ; medium and new, from £3 to £3 5s per ton (sacks extra). Saturday. The Melbourne Stock and Station Journal of March 22 reports: — Oals. — The market still continues firm, with a strong demand for all classes, but especially j foor prime milling lots. Feed 'ots arc also in : good request. The demand for this descrip- ! tion is tinfortunately due to inquiries for sheep- ! feeding purposes in the various dry districts, j Fairly large shipments have been made to the west, which helps to relieve the <juantity offered on the local market. We quote : Prime seed Algerians. Is lid to 2s ; medium, Is lOd to Is lOJcl ; prime milling, Is 84cl to Is 9d ; medium, Is Sd ; heavy feed, Is 7d to I 3 7Jd ; thin aaid inferior sorts, la 5d to Is Gd ; prime stout whites, 2s 4Jcl to 2s Si. | Wheat. — During the past week prices have j been hresrf ar, and sales were made at up to ] 3s 4Jd (ex store) foT a special ordor, btit this inquiry was quickly filled, and the market again receded to 3s 4d, which is tlie best price ! obtainable to-day. The quantity of prime wheat i offering, however, is comparatively small, and any large order placed on th.c market for delivery from .Melbourne stores would immediately ! have the effect of improving prie&s consider- ! ably. We quote: Prime milling, 3s 4d; medium, 3s 3d to 3s 3UI; inferior and faulty lots, 3s to 3s lid. Wool — Tha quantity of Australian wool available in London for the remainder of the y«?ar will be very small, and as there will aleo be a decrease in New Zealanda available for sale theie, it seems highly probable that the market for the finer grades will improve. This view must bs held by buyers on this side, as they ai-p operating at slightly above London parity, according to Sydney reports.