THE BREADSTUFFS AND PRODUCE MARKETS.

Otago Witness, Issue 3168, 2 December 1914, Page 22

THE BREADSTUFFS AND PRODUCE MARKETS.

Friday evening, j The European wheat market is not as firm as it hag been during the past few weeks, the tendency being in favour of buyers. The feature of the figures of the shipments of wheat and flour to Europe this week is the inclusion of a small shipj ment from the Argentine, the first since • the middle of August. Shipments from | North America continue to bo the mainstay j of the position. j WHEAT AND FLOUR MARKET, j “If the holders will sell their wheat there ' is no fear of a shortage of flour until the j Canadian cargo purchased by the Governj ment comes to hand—and if this cargo arrives early in January there is enough j wheat to carry on till the next harvest.” ■ This is the summing up of a Dunedin I miller who has close knowledge of the j wheat and flour markets. As things are at present, however, there is a shortage of flour, consequent' on the millers being I unable to purchase wheat. Orders for flour | sent to millers at Oamaru, Timaru, and Christchurch have _ been refused, and with five out of the six local mills practically closed down the position must soon become acute. Already some bakers are being hard put to it to got flour to enable them to carry on, and there is only one result if flour is not forthcoming—they must close down. On the other hand, several bakers hold sufficient stocks to enable them to carry on till the end of the year, but if they arc called on to meet the extra demand for bread, caused by the closing up of other bakers, their stocks miust soon : become depleted. Most of the wheat is held ■ in Canterbury, principally by speculators, though some northern farmers are also said to bo carrying parcels which in the aggregate would run into a fairly largo quantity. I It is hard to name the price of wheat to- ! day, as holders actually do not know what j price to ask. It is stated that in one case a merchant asked 5s a bushel for a few thousand sacks, and then, on the offer being accepted, withdrew his wheat, stating that it had been disposed of elsewhere. Millers aro now anxiously -waiting to see if the Government is going to take measures to seize the wheat which is known to bo available. It is maintained that once a vigilant inquiry is made into the quantity of existing stocks, these -will bo found to bo larger than was at first anticipated. When wheat prices reach high values it is really wonderful where the supplies come from. The tariff of the New Zealand Flour and Produce Agency Company is as follows:Flour: Sacks, 2001 b, £l3 10s per ton; 1001 b bags, £l4; 501 b bags. £l4 ss; 251 b bags, £l4 10s. Bran, £5 15s. Pollard, £6 10s. Pearl barley, £ls per ton. Oatmeal, £l4 10s. Messrs Evans and Co., Timaru, have issued the following circular, under date November 27:—“Owing to the greatly advanced prices now charged for flax shooting and calico used in the. making of flour bags—and which at present rates show a considerable loss on the cost of manufacture —wc have to advise that on and after December 1 our prices for flour, packed I in 1001 b bags, will bo at the rate of 15s; 501 b, 20s; and for 251 b, 25s per ton higher than the ruling price of further notice.” As the local price for sacks is £l3 10s a ton (10s additional for freight, etc.), the above advances mean that this

firm is asking 5s a ton more for the respective sizes than the New Zealand Flour and Produce Agency. Inquiries made among local millers elicit the fact that the position in regard to supplies of wheat and flour is reaching an acute stage (says the Oamaru Mail of November 26). So far as wheat is concerned it is impossible for millers to replenish their stocks, as there is practically none on the market. One or two millers have been fortunate enough to secure sufficient wheat to last for some time, but others, not so fortunately circumstanced, will soon find it impossible to continue operations unless some of the wheat being imported by the Government can bo obtained. From the number of orders being received from Otago and Southland it is quite evident that millers south of Oamaru are unable to supply the requirements of the province until next harvest, or until thc_ Government supplies arc to hand. It will be remembered that exports .from the Commonwealth have been prohibited by the Australian authorities, and it will take Canterbury and Otago all their time to supply the needs of the North Island. Fowl wheat is also in very small compass, and the price of this commodity is consequently very high. Considerable exportations of bran haye been made to Australia, on account of the drought there, and the market is also bare of pollard. Altogether it might be said that prices for flour have probably nor, been so high in the dominion for a great number of years. Tim cans" of this is short supply, and not the war. ADVANCE IN THE PRICK OF BRAN. Bran has been advanced by 10s per ton. The present quotation is £ls 15s a ton. THE OATS MARKET. There is no special demand for oats, and business is quiet. There is no inquiry from Australia, and only odd lots are going to the North Island. Stocks in store in Otago and Southland are in small compass, but it is the general opinion that there are quite sufficient oats in the dominion to see out the season, though the carry-over will most probably bo light. A fair quantity of oats for Home shipment is on board the Yerdala. The oats which went by the other troopships will net doubt suffer from delay in* reaching the Homo market, and some shippers are now inclined to view the outcome of this business with a certain amount of anxiety. The oat market closes fairly firm, A Gartons being worth 3s to 3s Old f.0.b., s.i,, and B’s 2s lid to 2s What effect the rains in Australia will indirectly have on the dominion market remains to bo seen. PRODUCE REPORT. Consignments of chaff haye been light, and as a consequence prime lines meet with a ready sale. The demand for inferior is weak. The potato market is much firmer, and, although greater quantities of tubers are coming forward, prices have advanced. Large consignments of eggs have been coming to hand lately, but values remain unchanged. There is an easier demand for pigs, and prices have eased. A few tons of Melbourne onions are due to arrive next week. These arc quoted at about 17s per cwt. The dairy butter market is rather on the slow side. Separator is quoted (wholesale) at from 9jd to lOd. For parcels pf choice separator as high as lid per lb is obtainable. Current wholesale prices are as follow: Chaff.—Prime oaten sheaf, £4 to £4 10s; medium to good, £3 to £3 15s (sacks extra). Potatoes, £4 5s to £4 10s per ton; medium to good, £3 5s to £3 10s. Hay, £3 5s to £3 10s. Straw.—Oaten, to £2; wheaten, £1 15s. Eggs. —Fresh, Batter. —Dairy, B£-d to 9d per lb; milled, ]od per lb; separator, in lb packets, 9|d to lOd. Pigs, —Baconcrs, SRI per lb; porkers, s£d per lb. _ _ Bacon. —Rolls (in quantities), to 10d; sides, to 9|d ; hams, lOd to ICgd per lb. FRUIT REPORT. Agents report that Show Week did not make any appreciable difference in the frmt trade. Supplies of strawberries from Alexandra are increasing, and first consignments have also arrived from Waimate. The wet weather is having a depressing effect on prices. No Australian cherries were landed this week. The next shipment is duo here on December 9. Alexandra-grown arc realising from fid to lOd per lb. A small parcel ot Canterbury of rather poor quality fetched 4£d to 6-ki per lb. The market is absolutely bare of bananas and pineapples, also citrus fruits. A small parcel of Rarotongan bananas and S 6 cases of pines are landing on Monday. These will meet a ready demand. Lemons are very scarce. It is not expected that any from California or Messina will arrive until next January. A small lot from Auckland realised 14s per case. The following are current wholesale prices:— Apples.—American, 12s to 15s. Asparagus, 4s fid to 5s 3d per dozen bunches. Lemons.—Market quite bare.

Pineapples.—Shipment to arrive Monday. Oranges.—Market barely supplied. Californian, 255; Sydney and Adelaide, 11s 6d to 17s 6d. Bananas. —Rarotongan to arrive Monday ; barely supplied. Gooseberries, 2d to 3d. Strawberries. —In good supply; to for jam; dessert, 8d to Is 2^d. Cherries. —Alexandra, 9d to lOd; Adelaide, 8d to Is, Tomatoes. —Local hothouse. Is 6d to Is 8d; Canterbury, Is 6d; Auckland, 8d to Is 3£d. Cucumbers. —Local hothouse, 6s to 9s 6d per dsozen. New potatoes.—Peninsula, 3d to 4d per lb ; Auckland, 2d to 2^d; Canterbury, 2d. Vegetables.—ln good supply. Cabbage, 2s to 3s per dozen; sacks, Is to 4s. Lettuce, 6d to Is 6d per dozen. Cauliflowers, Is 6d to 3s per dozen for small, 3s 6d to 8s 6d for medium to large; sacks, Is 6d to ss. Table carrots (early), Is per dozen bunches; 2s 6d to 4s per cental bag for old. Turnips, 6d to 8d per dozen bunches. Radish, 6d , to 8d per dozen. Spring onions, Igd to 2d per bunch. Rhubarb, 2d to 2-gd per _ lb (scarce); good demand. Green peas (Christchurch), 3d to 4d per lb. The New Zealand Flour and Produce Agency reports that although the quotations for its flour remain unchanged at £l3 10s a ton, sacks (with higher prices for tho smaller s;zes), it is unable to supply orders at these prices for the reason that the flour is unobtainable. Retailers who are so fortunate as to be able to secure any odd lines outside the agency are paying a ton advanoo on the above-named price. Tho agency will probably be in a position to offer at its usual prices when the next supply of Government wheat comes forward. The Colonial Sugar Company has refused to take orders for sugar except for immediate requirements. A further increase in the price of sugar is anticipated. The Bryant and Mav-Bell Company has advanced the price of plaid vestas by 2d per gross, Royals by 3d per gross, and 250 tins ,also by 3d. A shipment of now season’s salmon has arrived ex Makura, Merchants find that, in addition to the c.i.f. price,-they are now being called on to pay an extra freight. This, of course, means that the fish will have to bear a further charge. The sultanas which arrived ex Tongariro are of excellent quality—in fact, better than they have been for some years past. In tho rush to get the fruit shipped before the outbreak of war in Turkey, some shippers sent their fruit away uncleaned; other merchants, however, have been lucky enough to receive their sultanas cleaned. A quotation received from London by cable is on the baisis of 6gd per lb, c.i.f., equal to about 7d per lb landed here. Some shipments of figs have been made, but no advice has been received when the fruit will come to hand. A of Californian is expected by the next San Francisco steamer. So far as Turkey figs are concerned, there was also a rush to get those away before the outbreak of war, and shippers sent all -they could to London in bags, it being impossible to get the labour in the short time available for packing the figs in boxes. When, therefore, the small quantity of layer figs that is coming forward has been disposed of tho market will have to depend on tho bagged figs. Late advice states that a small shipment of figs is expected ex Mamari, now duo in New Zealand. A lino of Sicily almonds came forward by tho Tongariro. They reached a bare market. There has boon a sharp rise in the price of prunes for forward delivey. Scrubb’s ammonia is quoted at 17s per dozen. Glaxo has been advanced to 10s. 20s, and 54s respectively for small, medium, and large sizes. COS! ME Kill-in. CATfI .FARAV* LONDON, November 24. Silver, 22 13-16 d per ounce. Copper. —Spot, £55 10s; three months, £55 12s 6d; electrolytic, £SB ss. Tin. —Spot, £139 10s; three months, £l3B ss. Pig iron, 51s 6d. Lead, £l9 to £l9 ss. Spelter, £25 ss. Wheat.—Quiet and unchanged. November 25. The visible supply of wheat is 120,539,000 bushelsNovember 25. Copper: Spot, £55 ss; three months, £55 7s 6d. Tin: Spot. £142; three months, £l4O 10s. Spelter, £25 ss. Silver, 23d per ounce. Linseed oil, £24 12s 6d. Turpentine, 35s iO^d. Wheat; No demand at present prices. November 26. The stock of gold coin is £71,619,000; j reserve, £55,358,000; proportion of reserve I

to liabilities, 31.60; notes in circulation, ±135,315,000; public deposits, £18,691,000; other deposits, £156,463,000; Government securities, £26,286,000; other securities, £111,316,000. Short loans, 1| per cent. ; the rate of discount for three months’ bills is 2-| per cent, and 2| per cent. Wheat: Quiet, and unchanged. Australian, landed, 51s. Flour : Quiet. Australian, in store, 36s to 36s 6d. Barley: Firm. Australian Chevalier, 34s 6d to 37s 6d. Oats and-Beans: Quiet and unchanged. Peas: The market is tending upwards. Butter: Very firm. Choicest Australian is practically cleared. Prices nominally are unchanged. New Zealand choicest, 130 sto 1325.; Unsalted, occasionally, 1345. Cheese is firm. New Zealand, 755. Silver, 22|d per ounce. Copper: Spot, £25 2s 6d; three months, £22 ss. Tin: Spot, £142 ss; three months, £l4l 7s 6d. Pig iron, 51s l^d. Spelter, £25 10s. Sugar: Foreign granulated, 27s 6d. Bradford merinos quiet and a shade easier. All crossbreds are firm. Fair business is doing in 64’s. Spot, 30|d; February onwards, 275; super 60’s, 29{d and 26i-d; common, to 26d; 56’s, 28d to 27d; 50’s, to 24d; 56’s, 22d to 21d; 40’s, 20d to 19d. November 27. Danish butter, 143 s to 1465. Copper.—Spot, £54 ss; three months, £54 12s 6d; electrolytic, £57 15s. ' Tin.—Spot, £142; three months, £l4l, Lead, £l9 to £l9 2s 6d Spelter, £25 10s to £25. Silver, 22 13-16 d per ounce. November 28. The wheat market is lifeless, and prices are tending in buyers’ favour. .The unofficial estimate of the Argentine crop is 5.500.000 tons, leaving an exportable surplus of 4,000,000 tons. Jute.—November-December shipment, £ls, Cotton. —May-Jiine shipment, 4.21 g. Copra.—South Sea Octobor-November shipments, £24. Rubber.—Para, 2s BAd; Plantation, 2s l^d; smoked, 2s 4d. Silver, 22|d. Aluminium. —Spot, £B3; three months, £BS. November 29. Rabbits. —Very firm owing to the shortage; Australian blues, 20d in store, are likely to fall to the normal level when seven duo steamers arrive. The quantity of wheat afloat for the United Kingdom is 2.215,000 quarters, and for the Continent 1,540,000 quarters. The Atlantic shipments are 451,000 quarters, and the Pacific 80,000 quarters. Totals: Europe, 825.000 quarters; India, 20,000 quarters. FROZEN MEAT MARKET. LONDON, November 28 The following are the latest quotations for all classes of meat, including ex-store sheep. In the case of those not quoted the nvicr> iq nnrtlianp-pd !

price is unchanged: — Nov. 21 Nov. 28. d. d. Canterbury mutton, light ... 4 15-16 6J Canterbury mutton, medium — 51 Canterbury mutton, heavy ... ... —- 51 Southland mutton ... — 51 N.I. mutton, best brands, 56-641b 5 13-16 51 N.I. mutton, ordinary, 66-G41b ... — 5 11-16 N.Z. ewes ... — — Australian mutton. light ... — — Australian mutton, heavy ... ... — — Australian ewes ... — — River Plate mutton, light, 40-55Ib — — River Plate mutton, heavy, 58-721b — — River Plate ewes ... — — Canterbury lamb, light ... 64 — Canterbury lamb, second quality 6 9-16 — Canterbury lamb, medium ... ... — — Canterbury Iamb, heavy ... — — North Island iamb, selected • •• — — North island lamb, ordinary ... — — Southland lamb, selected ... — — Southland lamb, ordinary ... — — Australian lamb, best brands ... 6* — Australian lamb, fair quality ... — 6 3-16 Australian lamb, inferior ... — — River Plate lamb, first quality ... — — River Plato lamb, second quality — — New Zealand beef, fores ... — 51 New Zealand beef, hinds ... — 6* Australian beef, fores ... ... ... — 51 Australian beef, hinds ... .„ ... — 64 55 R. Plate beef, chilled fores ... 5& U. Plate beef, chided binds ••• 6J R Plate beel, frozen fores ... 51 11. Plat* beef, frozen hinds — 61 Uruguay frozen fores ... — 55 Uruguay frozen hinds ... —• 6 Uruguay chilled fores ... ♦ * Uruguay chilled hinds ... * * South American mutton, light ... — — South American mutton, heavy ... — — South American ewes ... — 64 South American iambs, light * None offering. Other meats are unchanged. 64