THE BREADSTUFFS AND PRODUCE MARKETS.

Otago Witness, Issue 2913, 12 January 1910, Page 9

THE BREADSTUFFS AND PRODUCE MARKETS.

Friday. ! With the opening of the now year the world’s wheat market betakes to itself a i special interest lor the Antipodes, ina-s- j much as this is the period pf harvest ! operations, when, naturally, the prospect ■ of prices is the subject of the keenest anticipation. The resumption of business n England after the temporary rest of the holidays has evidently found a very strong market for immediate cargoes, judging by ; i he figures that have been cabled out as having been paid. These cargoes have j realised up to 40a 9d and 41s for Decern- ! ber receipt, with graduations for January j and February supply. These latter are figured at 40s and 39s 10id. The con- ■ elusion to bo drawn from a consideration of these figures is that there is a pressing demand for immediate consumption, with a natural decline for further dates owing to the expectation of fairly abundant supplies being available at that time both from Australia and the Argentine. The point of the scope of future values is > briefly considered by Beerbohm of Novem- I ber 26, in tho concluding portion of the ' following extract, tire view taken being : that, despite the harvesting this year of < a large crop and good immediate shipments, the extra demand and the desirability of the precautionary measure of replenishing exhausted clocks will be sufficient to maintain a good market: “ There is no groat change in the general ■ situation. White wheate continue to be quite firmly hold for full prices, but the demand, is far frflm active; Argentine shippers, under the influence of improved weather conditions shew rather more dis- ! , position to offer, but there is no pressure, i Russian wheats are still somewhat freely j offered. Indian descriptions are firmly | held and more money asked, partly owing i to the stiffness of holders on the j other side. Shipments last week were 1 again very large, and above requirements, : but must be expected to show a decided « falling off in another weak or two, as navigation will shortly close, both in the Azof and in some of the North Russian ports, although .flair shipments may still take place from Riga and Windau as those ports generally keep open. The labour difficulties in Australia may delay .shipments from that part of the world; there is no knowing how long the strike may last. Meanwhile sortie shippers arc reluc- j tant to enter into large engagements, evea j if there were the demand from buyers to j justify their so doing. While there is no appearance of any material change in prices, it is not very probable that con- i earners at the present range of values j would take more wheat than would be I sufficient for current requirements; that is \ to say, they are not likely to reconstitute ! stocks, except at a somewhat lower level, | for although prices arc distinctly below j the level of a few months ago, they are < still much above the average of ordinary seasons. The position is a very interesting one. Against the facts that this year’s total wheat crop has proved to be a very large one, and that shipments, so far, have been on an enormous scale, one has to bear in mind That at the commencement of the season stocks all over the world, both in first and second hands, were extremely low, .that the .vorld’s requirements increase materially year by year, and that farmers Rave become so accustomed to a fairly high level that they will be reluctant sellers at any material decline.” Coincidently with the firmness at Home the Australian markets show a distinct accretion of value , this week as contrasted with the prices which ruled >a couple of weeks ago. Sydney is quoted at 4s Melbourne at 4s 3d, and Adelaide at from 4s 2id to 4s 3d per bushel, this being an advance of fully 3d in the period named. Thin will certainly have been affected in a considerable measure by the resumption of operations- on the part of the Sydney oversea shipping agents. In consequence of the strike the railway authorities were obliged, in order to husband the coal] resources, to curtail the number of goods j trains that were run, and consequently j the shipping men were, for a time, forced ; out of the market, and left the field entirely to the ’local millers. This cessation from competition was the cause practically of the price of wheat not rising j to its present level a fortnight ago. Now, j however, with the_ removal of the railway embargo, competition has resumed its natural course, and the expected appreciation of prices has followed. This factor Isays the Town and Country Journal) “ synchronised, with a spurt in the London wheat market.. The improvement at Mark Lane was promptly reflected in Sydney, and those of the New South Wales shippers who had entered into fresh commitments on the- eve of the coal strike proceeded to harden the tone of the Sydney wheat market by covering their sales. _ Now that the shippers have resumed buying in New South Wales, their natural competitors (tho local have to ‘bid up ’ for supplies, and the farmers have the satisfaction of knowing that one eot of buyers are no longer masters of the situation.” The Sydney Mail of January 29, commenting upon the situation, said: “Without doubt there is going to be more trouble in lifting the crop this year than there ever has been before, and it looks as though the jamb will not be on the railways merely, but at the wharves as well. Shippers are now buying at 4s to 4s Id, Sydney, and still finding a fair number of sellers; but millers are content to pay an extra id. Harvesting was proceeding without a hitch until the recent rains, which were very hp-avy in some parts of the wheat belt, and which will probably damage a lot of wheat. Flour quotations are nominally unaltered, the convention quotations for new flour being on a basis of £lO, and old £ll. The fact, however, that the bakers of the metropolitan area, and some of the centres outside the metropolis as well, were booked up with new flour just before the price was advanced, has naturally made flour business very slow. It has also given rise to no small dissatisfaction on the part of country millers, some of whom are threatening to withdraw from the association. Export business forward has been done at £9.” The Melbourne market is thus reported upon at January 1 by the Australasian: “ The Melbourne market is steady, 4s Id being quoted by shippers for direct country purchases, while parcels are quoted in town at 4s lid, at which price business has been done. Supplies in the country districts continue to increase, while reports rogching town indicate that yields are turning out fully equal to or above expectations. Flour.

Old flour is quoted for local consumption at £lO 10s delivered, and new at £9 15s. A good business has recently been done tor shipment to South Africa and the East; but business for the United Kingdom has •teen practically out of the question, owing to the difficulty of obtaining freight." As regards the New Zealand market anticipation is now becoming keen with regard to the probable course of prices for the new season's crop. The harvest this year will be an early one, and, it is confidently expected; a very good one. Already it is reported that some cutting has been done in the Waimate district, while it is further promised that next -week will see some harvesting done. So far no offers have come forward in the new year for new wheat, while for old wheat there, has been a very small market. A few lines have been sold at' firm prices for velvet, which is the description of grain very 'keenly desired by millers for mixing purposes, as they are now, speaking generally, somewhat short of this kind. On the other hand, they have a good stock of Tuscan. The price paid on the siding for velvet in the Wairaafce district was 4s 3d, this making the f.o.b fixture at northern ports about 4s 5d to 4s s£d. Business has not yet resumed even a normal tone after the holidays, but it is anticipated that next week will witness a better feeling in this direction. It is understood also that about the middle •ii l W6ek a s P ecial meeting of millers will be held in Christchurch for the purpose of fully discussing i&s position at present obtaining i n relation to the New Zealand * lourmillers' Association, so that a definite understanding might, if possible, be come to between the combined millers and the dissentients from the ranks. It is thought that this meeting will be the deciding ground for the cessation or continuance of the association.

The association's tariff for flour is: Sacks £lO 15s; 100's, £11; 50's, £ll 10s; 25's, £ll 15s The shipping price is £lO 10s f.o.b. Pollard. £4 per ton. both f.o.b. and locally; bran, £3 Gs locally, and £3 per ton f.o.b.

Oatmeal stands at £lO 10s per ton, and pearl barky at £l4 10s. The oat market is still somewhat inactive after the holidays, although towards the close of the week a better tone prevailed, with the result that the market might be set down as being at Is lOd to Is for B grade Gartens, with A sparrows 'at Is 9-kl, and B grade.at Is 9d. Contrary to some expectations that were entertained there was no great accession of business after the New Year, but it is possible that ths coming week will, as in the wheat market, witness more movement. The Christmas and New Year neriod was a distinctly quiet nnd inactive one for practically all general produce lines. The resumption of business this week, however, has seen some movement, especially in relation to the chaff market, which .vas in a measure expected before Christmas, as some activity had previously been displayed. This can, however, only last for a short time, as the chaff from the new season's cutting will soon be available and render the feed supply plentiful. Prices for this line, for the past week underwent a pronounced rise, and closed with the figures- for best chaff ranging from £3 2s id to £3 5s per ton. with decreasing graduations for lighter kinds. In potatoes the market is now completely bare of the old year's crop, while for new year's crop the price is ranging between 4s per cwt for medium quality to 6s for best freshly-dug Oaimrus. There is a good inquiry for straw, and this also applies to onions, in which market Melbourne and Sydney supplies are now available at up to 8s od per cwt. Prices rule as follow: —

Chaff. —Prime oaten sheaf (white oats), from £3 to £3 5s 1 ; black cats, £2 17s 6d to £3; medium, £2 7s 6d to £2 12s 6d; inferior and discoloured, £2 per ton and upwards. Potatoes. —New (best), 5s 6d to 6s per cwt; medium, 4s to 4s sd< Butter. —Prices are: Dairy pats 6d ; milled 7d to' 7jd; separator pats, 6d to 7d; bulk, 9d per ib; Taieri and Peninsula pats. ll|d (3d rebate for casbf*, Taieri and Peninsula bulk, il^d. Cheese.—Local lots, 6d to 6id per lb.

Straw.—Oaten, £1 10s to £1 12s 6d per ton; ' whesufcen, 30s per ton (pressed, ex truck).

i Clover hay, £2 10s per ton. ! Onions.—Melbourne and Sydney, £8 to • £8 10s per ton. i Eggs.—Fresh, lid to per dozen. I Bacon. —Rolls, 8d; flitches, 7d; hams, 9d; j bacon pigs, 3£d; porkers, 4d. ! Poultry.—Hens. 3s to 3s Sd per pair; :> roosters, ss; ducks, 3s to 3s 6d ; best, 4s • 6d ; turkeys—hens sd, gobblers 8d per lb. I FRUIT REPORT. I Tho Christmas period in this market ha 3 ' been a fairly busy one, there having been I a good demand for the large quantities of j fruit which came forward, particularly from > the Teviot district. Owing to the heat ; experienced this year strawberries have not I been in very plentiful supply, and rasp- ■ berries'have also suffered from the same j cause, and are in less bulk than was the ; case last year. The price realised for them j reflects this, as it is 5d per lb. As a ; matter of fact, the Teviot fruit season this 1 year is fully three weeks earlier than is ; usually the case, owing to the hot weather ! which was experienced up to the Christmas j week. In this period and the New Year ] week the market was over-supplied with j both peaches and apricots, and as a con- ; sequence prices were exceedingly low. j Now, however, as other markets are availj able the quantities coming to Dunedin are I only moderate, and the prices being ob- { tained have advanced considerably. j Cherries from Victoria and South Aus- } tralia were to hand during the week, but j they oame in bad condition, and consej quently met a poor market. Supplies of ; local cherries are about finished. _ On I Monday there is due to arrive a shipment !of 2000 cases of Fijian binanas The price ' which will be realised for these is not ' expected to be above 8s per case, as soft i. fruits will now affect the sales. The ! only oranges available at present are the I American variety, and these are selling at \ from 18s to, 20s per case. Next Tuesday i there will be landed a few crates of Hobart ' strawberries. 3 The prices ruling are as follow: i Oranges.—Americanis, 18s to 20s. f Lemons. —Messina halves, 10s 6d to 13s ; wihole cases, 25s sd. f Bananas.—Fiji, landing on Monday. ■ ! Apples.—Americans, 20s—very few available. I Pines.—los to 12s. Cherries. — : Orates, 10s to 12s: quarter-cases, sjj to 8s; Tasmanian, 8s 6d to 10a 6d ; Canterbury, 4d to 6d.

Peaches.— Roxburgh, lid to 3d ; choice, , up to 4£d'. Apricots. —Roxburgh and Alexandra, 2d to sd. Plums.—lid to 3d per lb. Grapes.—Local hothouse, from Is 6d to U 9d. Vegetables.—Cabbages, from 6d to Is 6d per sack; cauliflowers, Is to 3s per <=ack. Rhubarb—choice local, 6s to 7s per cwt Lettuce, from 6d to Is per case. Cucumbers, 2s to 3s per dozen. Tomatoes: Auckland—oboice 9d lb, others, 4d to Yd; Neibon Id to 6d ; Ohristchurch, hothouse, 8d to ild per lb. Green peas, from Is 6d to 2s 6d per bag of 241 b. Gooseberries, lid to 2d per lb; ripe, 24d to 4£d. New Potatoes.—Peninsula grown, 3s to 4s per case; southern and Oamaru. 5s to 6s per cwt. ~ ' Honev.-Choioe, 4£d to 43d per lb; 10lb tins, 3s" 6d to 4s; choice sections, OS to 7s per dozen; medium, 3s to 4s 6d per dozen. . , , . Peanuts.—Java, 2d; Japanese, 2£d to SO. Preserved ginger. 7£d per lb. Walnuts.—Good demand. Prime quality, 53d to 6£d. Barcelona nuts, s£d to oi-d. Brazil nuts, 7£d to B£d per lb. IMPORT MARKET. In reference to the reported difficulty in northern centres in connection with the readjustment of duty on tobacco, this matter has been effected locally with entire satisfaction, merchants baying already reduced the price to the retainers to 1 per cent. At the same time it would be quite a reasonable thing for them to have held on at the higher rate of 24 per cent, for a little while, as, although the extra duty was not paid on a great, deal of bulk tobacco, it had to be paid on whatever was wanted, and to the extent that this was done merchants would lose the difference of 1£ per cent. No complaints whatever were made localiy by retailers owing to the sacrifice and adjustments of the merchants. . Business has been resumed since the holidays on a very promising scale, and l everything so far augurs a period of welcome prosperity. The Christmas trade was very good, despite the drawback of the late' arrival of some goods, and now with the initiation of a eood demand for general lines that welcome state should be continued. The Aparima is bringing from Queensland a shipment of cube pineapples, in which shape the fruit is now becomingthe favourite. This will be sold at 4s 3d. Local stocks of other sorts are in very short compass, and 21b tins are worth urp to 4s 9d and ss. White's jellies are now completely out of the market, but supplies are expected shortly. ! The new scale for sugar is: Three tons ' and over, £l7 per ton: one ton, £l7 ss; less, £l7 10s, with the customary adjustments for brewer's crystals, etc. For this latter line there has b D en. experienced in some quarters a difficulty in securing delivery to supply the demand for summer ! jam-making. Coleman's starch is in short supply still. : Within the last few years, however, the local makes have been gaining in popularity, and this temporary shortage may ; react to their benefit.

A vessel with a shipment, cf kerosene is expected shortly in the Dominion.

American new season's fruits are now in gcod supply.