THE BREADSTUFFS AND PRODUCE MARKETS.

Otago Witness, Issue 2929, 4 May 1910, Page 9

THE BREADSTUFFS AND PRODUCE MARKETS.

Friday. Dullness hat. characterised the wn-eat market throughout the week. As anticipated last week, the regular cablegram, when it came to hand, contained the news that the wheat markets were flat and tending towards a lower level. This news was confirmed during the week by sales being reported of two cargoes ot Australian wheat at as low as 37s 6d and 38s respectively, while from Australia ltselt came the news that the Millowners' Association had reduced the price of flour by 5s per ton. The position of the market now is that uncertainty prevails till receipt of definite information upon (1) the likely yields of the young European crops; (2> the definite available exportable margins of shipping countries; and (3) the extent of the damage done in America by the frosts, which have inflicted such heavy damage on the cotton crops. Till this news comes to hand the market is likely to be of a hand-to-mouth nature. - "Beerbohm," under date London, March 18, ,has, inter alia, a passing- reference of interest to the American position. The extract is as follows:—"There has been a decidedly better tone in the market this week, and a large amount of business has been transacted at prices showing an advance of about 9d to Is on the week; the demand has been principally for wheat in near positions, and, so far.as distant shipments" are concerned, buyers, generally speaking, cbnfcinuo reserved. The shipments last week were again liberal and above the estimated weekly requirements, but, unless Canada and the United States export on a more liberal scale than has recently been the case, promise to be much smaller during the next few weeks. The Azof is not yet fully open, and, until the movement is free from that part of Russia, the Russian shipments are likely to be smaller thaa for some time past. Meanwhile, the quantity afloat is large—namely, over 6.000,000 quarters, of which about 3,500,000 quarters are due off the coast for the United Kingdom and Continent during the next four weeks, and it is most probable that buyers will continue a cautious policy until some definite idea can be formed as to the real condition of the . autumn-sown crops. In referer.ee to the alarming reports of crop damage from America, it is quite possible that a eood deal of damage has been done, but nothing yet is definitely known, and it will be found, on reference to recent vears, that these reports are always being distributed far and wide at this time of the year. The official report on the extent of the winter-killed area does not apx>ear until May; every year there is mors or Ipss ploughed urt owing to frcst damaEre, and last year this amounted to 5.2. the area harvested beinsr 9P.?3O.fW> acres, whilst the area sown was 29,884,000 acres, against 33.483.000 acres fown to the present : croo; allowing for 10 per cent, winter-killed this vear. there would still be left nearlv 2.000,000 acres more to be' harvested than last year. The following table sh'ows the area sown and harvested during the past three vear (000 omitted): — 1909-10. 1908-9. 1907-8. 1906-7. Acres. Acres. Acres. Acres. Area sown. ... 33,483 29,884 31,069 31,665 Harvested ... ? 28,330 30,349 28,132 Acres abandoned ... ? 1,554 720 3,533 Percentage abandoned ? 5.2 2.3 . 11.3 The condition of the crop on December 1, 1909, was very high—namely, 95.8, but, judging from the experience of previous years, is likely to show a falling off when the Agricultural Bureau report is published next month. The Australian position is practically on last week's level, although Melbourne has apparently firmed to the extent of £d. All the centres stand now at 4s per bushel. Locally, the market has been very stagnant, and in the practical absence of business it is impossible to state how far it has altered from late rates. During the week millers almost ceased buying, and all speculation (little as it is so far) entirely ceased. Farmers cannot, in the space of a week, adjust themselves to new conceptions of value, and as a consequence the dullness mentioned has prevailed. Some velvet changed hands at 3s 9d on trucks, and good southern grain brought up to 3s Bd. As the season advances it is becoming increasingly plain that a very great deal of damaged wheat exists. The position is this: there is a surplus of . wheat in the South Island, but there is not a surplus of milling wheat. A great deal of the grain is valueless, or almost so, for milling purposes, and can be secured at anything down to 6d below the ruling market rate. As a consequence of this, it is apparent that good milling wheaf will be worth its money throughout the season; damaged stuff will have to take its chance. The price list of the New Zealand Flourmillers' Association is as follows :—Flour : Sacks, £lO 5s per ton; 1001 b bags. £lO 15s per ton; 501 b bags, £ll per ton; 251 b bags, £ll 5s per ton. Oatmeal, £ll 10s per ton; pearly barley, £l3 10s. The week has seen very heavy selling in oats, this being caused by the fact that Auckland operators who had previously been living from hand to mouth came on the market with a demand for forward requirements, and havie apparently secured supplies for some weeks ahead. At the same time, it has been as difficult as ever to buy from the farmers, who • are holding their grain •vith steady persistence. It saems in the last degree likelj that any oats will be exported from New Zealand this year. England at the present time is very dull and hopeless from the point of view of exportation, while Australia has, with the import duty against New Zealand, a protection of practically Is per bushel from invasion. New Zealand must therefore provide her own market, and so far the North Island has been making steady inroads upon southern supplies. During the week, MayJune shipment fer that quarter was entered into or. "the basis of 2s 2d f.0.b., s.i., at Bluff for best A grade Gartons, while A grade sparrowbills ran to 2s la-d' on the same terms. Country supplies have not been heavy during the week, those now holding being evidently content and capable of waiting for the market to come to their Sspectations, which have been placed fairly igh. Th© market closes aA firm as last

week, or perhaps even a trifle beyond that level. Country rates for Gartons stand at up to Is 9?d for the best, with gradations for sparrowbills and B grade. The week has seen good business, with little variation in prices. Chaff and potatoes are now in good supply, but price-s are well maintained. Straw has been coming forward in bulk, and the price has eased somewhat. Butter still remains m good diemand, and bacon has advanced - 4 d per lb. Current prices are as follow: Chaff.—Prime oaten sheaf, £3 15s to £3 17s 6d; black oaten, £4-; medium to good, £3 5s to £3 10s; inferior, £2 5s and upwards per ton. Potatoes.—Prime Up-to-Dates, £4 to ±,4 2s 6d; medium to good, £3 5s to £3 6d; small and inferior, £2 10s per ton. Onions.—Fair demand; prime Melbournes, £5 ton.

Straw, 25s per ton. Clover hay, £2 10s to £2 12s 6d per ton. Eggs.—Fresh, Is lOd; guaranteed fresh, Is lid per dozen. Butter.—ln good demand. Dairy, lua; milled, lOd; separator in ilb and lib pats, lid per lb. , Pigs.—Baooners, 3|d per lb; porkers, dfd per lb. Bacon.—Rolls, 7fcd; boneless hams, Sd; sides, 6ld; hams under 201 b. per lb; pork Germans in 141 b tins (four tins to case), 4id per lb. FRUIT REPORT.

; Good distributive business has been trans- ■ acted since last report. Pears and apples ! are now in very full supply, and prices favour the consumer. Tomatoes and choice grapes are fetching good prices owing to their scarcity. As regards Island fruit, a shipment from Fiji is dxie on Monday. I The prices ruling are as follow: I Oranges.— Rarotongan, 7s 6d to 9s. Fiji shipment due on Monday. Bananas. —Market . barely supplied. Lemons. Barely supplied. Messina halves 13s to 15s; whole case, 26s to 28s. Apples.—Market fully stocked. Cookers, 2s to 4s 6d per case; dessert, 4s to 7s. Peaches. —Almost finished. Pie melons. —4s 6d per cwt. Quinces.—ld to lid per lb. ._ Pears. —Overstocked. Local choice from 3s 6d to ss; Canterbury and others, 2s to i 4s;. cookers, 3s to ss. i Grapes. —Local, from 7d to Is 3d (market bare); choice, up to' Is 8d; Adelaide, 10s to , 15s per case. | Tomatoes. —Chrisfcchurch hothouas, 3d to 6d; outside, from 5s to 8s per box; choice local hothouse, 7gd to Is. | Vegetables. —In short supply. Cabi bages, from Is to 4s per sack; choice, 3s ' Sd to Is 6d per dozen. Cauliflowers, Is 6d to 5s 6d per sack; choice from 4s to 5s per doz. Lettuce, from Is to Is 4d per case. I Beetroot, 6d per doz. Horseradish, sd. Cucumbers, up to 4s per dozen. Green peas; 2£d to 3d per lb; vegetable marrows, 4s to 5s , per sack; pumpkins, locally grown, 7s per ! CWt. ! Potatoes. —Southern and Oamaru, £4 5s to £4 10s for choice samples; medium quality, £3 15s to £4. Honey.—Choice, 4d to 4|d per lb; 10lb tins, 3s 6d to 4s; choice sections, 6s to 7s per dozen; medium, 3s to j 6d per dozen. ■ Peanuts. —Java, 2d; Japanese, 2£d to 3d. ! Preserved ginger, 7£d per lb. ' Walnuts. —Gocd demand. A small lot from Canterbury realised from' 6d to 7d i per lb. Barcelona nuts, s£d to 6|d. IMPORT MARKET. Lifebuoy soap has been advanced Is per case owing to the increased cost of raw material, and the tariff now stands: —Ten cases, 15s per case; less than 10 cases, 15s 3d per case. King Oscar sardines are short for the time being, but a further shipment is due 1 to arrive in a few days' time. Tire Georgia, with a cargo of kerosene, arrived last week, and her goods have been distributed. j The looal supply of ling is in very short i compass. The supply remaining consists chiefly of £cwt cases, the lewt packages i having chiefly bsen disposed of. The first of the new season's shipment is due to i arrive in October next, and prices will in the interim be firm. At present the quotation is 6|d per lb. The price of linseed, both whole and , crushed, has again advanced. It now ; stands at 21s per cwt for crushed 20s for whole. i Lentils are quoted at 23s per cwt. A fresh supply of Frimley preserved fruits is to be on the market next week. 1 The price of white lead in hardware lines has been advanced £1 per ton at Home, but local prices have not so far been changed. An advance is announced in Dimmock s Swan brand pork germans and the price now is per lb. The same firm s brand of lard, in lib oats, has been advanced Id per lb. making the figure per lb. _ Calcutta advises further advances in castor oil. The local price is now 3s for half-caees and 3s 3d for drums. The market is very firm.