CANTERBURY MARKETS

Otago Witness, Issue 3006, 25 October 1911, Page 22

CANTERBURY MARKETS

(Lytteiten Times, October 21.) The improved tone of the wheat market in the Okl! Country has not so far influenced th© local market, which, however, continues very bare of supplies, and prices are firm at previous quotations. The offerings from farmers have now been reduced to° a negligible quantity, and the last month has brought forward only sufficient for a couple of days’ trade in a normal season. Merchants and millers are stili buyers at quotations, but as has been the case for some lime, the few farmers who still hold stocks entertain ideas, of values altogether too high for merchants, and consequently the amount of trade that has been done has been very small indeed. It is now fully recognised that the amount of ■grain still in first bands is very small, and there are many epee illations as to th© quantity held by merchants, but it is generally conceded that the amount is well below the average for this season of the year. Mora than three months have stili to pass before the new season's grain will be available, and there is a general concensus of opinion that values are more likely to advance than to recede. Th© oat market, as in the case of wheat, is very bare of supplies, and prices remain very firm The greater part of the small amount of trade that has been don© recently has been between merchants, _ th© offerings by farmers having practically reached the vanishing point, several days sometimes passing without a single line having been placed on offer by growers. Several varieties are almost unprocurable, notably Algerians ijmd duns, and for these varieties, as for all others, full rates are easily obtainable. Little chaff has been on offer for some time, the majority of farmers being at present -too busy with farm operations to find time to deliver parcels. The market is firm, and prices have advanced slightly since last report. Present values range up to £4- 15s, on trucks, and in a few isolated instances prices half a crown in advance of this price have been paid for extra good parcels for immediate delivery. The potato market shows a further slight firming, the majority of the sales made this week having been on th© basis of £2! to £2 5s per ton on trucks at country stations. Owing, probably, to the fact that many farmers are now busy planting next season’s crop, th© offerings during th© week have been of very moderate dimensions. Outside the province there is very little demand, the orders from Auckland and other North Island centres being few and farbetween. The following quotations are for purchases from farmers, net cash, sacks extra, except where otherwise specified: Wh-Vt—Hunters and Tuscan, 3s 5d to 3s 7d; pearl 3s 5d to 3s 6J,d, on trucks; fowl wheat 3s 3d to is 4d. 1 Oats— Duns 2s 9d to 3s, Danish 2s 9d 1 to 3s, Cartons 2s 7d to 3s, Algerian 2s 8d tC ßarley (nomina])— Malting 4s 6d to 4s 9d, ; according to quality. 1 Chaff—Oatsheaf £4 2s 6d to £4 15s at ■ country stations. ! Potatoes—£2 to £2 5s per ton. i Peas —Partridge 3s 7d to 3s Sd ■ Oatmeal —£15 per ton. ! Flour.—The New Zealand Flourmillcrs ' Co-operative Association (Limited) quotes the following prices per ton, local or shipj pjnjy— Sacks £9, 10’Olb bags £9 ss, 50lb i bags ‘£9 10s, 251 b bags £9 15s. Bran £4 | ! 15s, pollard £6. . ~ T r i, ’ j Seeds— Ryegrass, Italian 3s 3d, English 1 ' 3s fid, cocksfoot 121 b to 131 b 7d to ?id, cowgrass’ 7d, white clover to Is. _ ' i Dairy Produce—Cheese, dairy, large s>d. : • loaf fid: factory, largo si?d to fid. Butter. ’ fresh local factory prints Is Id, second 1 i grad© factory butter Is, farm dairy 9d. ' I Hams 9d, sides Sid, rolls 9d, shoulder rolls : and middles (equal numbers) B£d, shoulder I ! rolls only middles 91,-cl, rolled hams 1 I 9A<J. Lard, pats B£d Eggs 9d per dozen. 11 i .

J RANGIORA. j The wheat market remains inactive. Very little business has been done during the week at late rates, 3s 7<l for Tuscan and Hunters and 3s 8d for pearl. Millers

show jjo disposition to advance their price. They argue that current rates leave only a small margin of profit on flour, and if they advance the price of that commodity Australian shipments would have an opening in the Dominion. Oats continue firm. A parcel of duns, spar,rowbill, and Gartons, which have been stored by a Scfton farmer since 1908, have been sold at 3s ex store Lyttelton. Potatoes: The market advanced to £2 2s 6d for table Up-to-dates and £2 5s for Barwents for prompt delivery. The withdrawal of the coastal steamers has made matters very dull, and merchants will only buy according- to orders received. Timaru and further south are loading large consignments for northern ports during the next few days, and in view of the lateness of the season it is generally feared that an over-supply will be made and prices leosde accordingly. They must go into immediate consumption, otherwise tho cost of picking and loss in weight has to "be faced. Chaff is firm at £4 10s for test quality. Dunedin is shipping largely north at a lower rate than can be done in this district. If values _ improve in the north merchants will again turn their attention to the Australian centres for supplies. Cow grass 7d to- 8d per lb, white clover Is por lb, linseed £ls to £lo per ton, horse beans 3s 3d, partridge pias 3s 6d, to 3s I'd. There are not any blue Prussians or white ivory peas offering.

ASHBURTON. Wheat.—Business passing is still confined to small iines. The market continues firm and good quality wheat finds buyers at recent rates. Prime oearl. Hunters, and Tuscan 3s 6d to 3s 7d on rail, country stations. Oats: A hand-to-mouth policy _is being pursued by buyers, who are disinclined to take the risk of purchasing at the extreme price being wsked except to fill orders. Good fe;ed Gartons 2s lOd to 39. -Chaff: For prime quality 85s to 87s per ton on trucks is the general price offered. COMWF.&OTAL CABLEGRAMS. LONDON, October 17! Wheat: An Australian cargo has been' sold at 36s 6d. October 18. • Wheat: 10,000 quarters of Australian, per sailer. October shipment, have been sold at 36s 9d The American visible supply is 82,633,000 bushels. At the tallow sales 1450 casks were offered and 1105 sold. Mutton—Fine 38 6d, medium 355; beef—fine * 36s 3d, medium 53s 6d. m October 20. The Bank of England returns show the stock of gold coin and bullion to be £38.142,000; reserve, £27,142,000; proportion of reserve to liabilities, 52.40 per cent. The notes in circulation total £28,669,000; public deposits, £6,715,000; other deposits, £45,053,000: Government securities, £14,096,000: other securities, £28,243,000. The bank rate of discount is 4 per cent. Short loans are discounted at from 2 to 2j[ per cent., and three months' bills at .3 11-16 per cent. Consols are quoted at £7B. The following- are the quotations for colonial Government stocks, compared with those ruling a week previous :

The Bradford wool market is very weak. There is no business in spot. Quotations -for futures are : —Sixty-fours, 6uper., 24dj common sixtys, 23£d; fifty-sixes, fifties, 17d; forty-sixes. 133 d, fortys, 12|. Xfte butter market is quiet owing to high prices. Danish, 140 s. Choicest colonial, waited, is in small supply, and is quoted at to 1.505; unsalted, 130 i? to 1325. The cheese market is dull. Canadian. 69s to YOs. - *

The wheat market is steady, and there is fair business. Prices are farmer owing to an estimated reduction of 25 per cent. in the Australian crop, and the Tripoli and Morocco situations, algo frosty, dry weather in the Argentine. An Australian cargo has been sold at 36s 7£d, and 15,000 quarters of Australian new crop, by sailer, January and February shipment, sold at 36s 6d. Australian, three ports, December-January shipment, has been sold at 36s 7^d; January-February shipment, 36& 6d; Victorian, per sailer, November shipment, 36s 9d; Australian, landed, 37s 6d; South Australian and Victorian parcels afloat, 35s 6d. There is a large business in Australian parcels at Liverpool. October-November shipment, 35s 9d.

The flour market is steady, but there is little inquiry. Prices range from 25s 6d to 265, ex etore; and 25s to arrive. The oats market is steady, but quiet. La Plata, December- January-Eebruary ehipment, 16s 9d. In peas a. small business is passing. New crop, New Zealand, is offering at 39b 6d. October 21. Wheat.—Twelve thousand five hundred quarters of Australian for three ports— December-January shipment—was sold at 36s 7£d, Copra.—Quiet. South Sea, bags, £26 7s 6d. There is more demand at a decline. Leather. Basils, in smaJl supply. There are practically no sales. Hides are quiet and unchanged, with a fair demand. Jute. —October shipment, £2O 2s od. Hemp.—Dull; unaltered. Rubber, 4s 6d.

Cbtton. —October-November shipments, 5.022 id. October 22. The quantity of wheat and flour afloat for the United Kingdom is 2,585,000 quarters and the Pacific shipments 12,000 quarters and for the Continent 1,200,000 quarters. The Atlantic shipments total 169,000 quarters. The total shipments to Europe for the veek amounted to 1,075,000 quarters, including the following:—The Argentine, •50,000 quarters; Russian, 295,000; Danubian provinces, 275,000; India, 55,000; and Australasia 90,000.

Oct. 13. Oct. 20 New South Wales 4's . .. 104 1044 New South Wales 3i/s . .. 98£ 984 New .Sfuth Wales 3's ... 86 86 Victorian 4's ... 102 102-i Victorian 34's .. 93 . 984Victorian 3's ... 84i " 85 Queensland 4's ... 102 1024 Queensland 34's ... 964 96| Queensland 3's . ... 86 844 South Australian 34's ... 98 98 South Australian 3's .. 82 82 New Zealand 4's ... . ... 1024 1034 New Zealand 34's ... 97i 971 New Zealand 3'a ... .. ... 854 85? Tasma.nian 34's ■ ... 97 97|" Tasmanian 3's >., ... 844 844. West Australian 34's ... 954 954 West Australian 3's ... . ... 85 854