THE BREADSTUFFS AND PRODUCE MARKETS.

Otago Witness, Issue 3195, 9 June 1915, Page 23

THE BREADSTUFFS AND PRODUCE MARKETS.

Friday evening.

The latest London cablegrams state that the wheat market is depressed, with pronounced weakness in America and Canada. The spring is the critical season for the growing crops in Europe, and to this danger is now being added that from armed forces opposing one another, as no small proportion of the strategy of the warring nations is to protect their own food supply and seize or destroy their opponents’ crops. The check which the threatened Russian advance into the plains of Hungary received was greeted with especial joy in Berlin, for the chief reason that the crops of Hungary are relied upon to make good the shortage in the food supply of Germany. In France, the retiring German forces arc doing their utmost to prevent the growing crops being available for the Allies, and have ordered them to bo ploughed in. Messrs H. X. Bathgate and Co. report under date April 20: —“For the present, shipments are keeping up well ; but so also is the demand, especially for the Continent. For the latter it is impossible to say how long the present rate of shipments will be continued-; but it is pointed out .n several quarters that Franco and Italy have now discontinued making any heavy purchase, in which case shipment to those countries should show a decline in the near mtur it, seems probable that they are not bkolv to buy so heavily for delivery when their new crops will he about ready for cutting. Meanwhile, the forecast of the. Indian Government indicates a harvest of over 48.000. quarters, with an exportable surplus of 9,400,030 quarters. A preliminary estimate which we gave some weeks ago indicated a possible total crop of 50,000,000 quarters, and an exportable surplus of 10.000. quarters. But the result now indicated, if not* under-estimated, is highly satisfactory, as it represents the largest crop on record in our Eastern Empire. We can only hope that exports on a liberal scale will begin at the earliest possible date, for this addition to international supplies will be most welcome, especially as a check upon undue speculation in America. At any rate it ec-onis clear that the -World’s requirements are now well provided for until the end of the current season, even though those who hold it will naturally do their best to got the highest possible price for wheat in exporting countries. Argentina continues to export on a liberal scale, and there is some reason to hope that that country is in a position to continue to contribute a full quota for some weeks to come.”

The wheat market is firmer, especially for velvet and other sound milling lines, duo chiefly to the fact that Auckland millers have secured a fair, quantity from Canterbury over the past week or so. Local milters, however, are keeping off the market, and there is practically nothing to record at this end.

The tariff: of the New Zealand Flour and Produce Agency Company is as follows: Sacks, £l7 10s; 1001 b bags, £18; 501 b bags, £l3 ss; 251 b bags, £lB 10s, Pollard, £9. Bran, £8 ss. Oatmeal is quoted at £2l a ton for 25’s. Pearl' barley, £2l 10s.

There has not been much business doing in the oat market. Farmers have evidently been reckoning on having a holiday this week, and offerings have been few. It is reported that inquiries are being made from Australia for fair sized parcels, presumably for defence purposes. Canterbury is drawing small supplies from Otago of better qualities of oats for seed purposes, but there is practically no demand from the North Island. A Gartons are worth from 4s scl to 4s 6d, f.o. b., sacks weighed in, and B’s less. Tire Australasian of May 29 reports that feed oats have fallen about 6d, owing to the arrival of supplies from New Zealand, which, being contracted before the prohibition of export, have been permitted to be shipped by the Dominion Government. In addition, substantial supplies are expected from Japan this week. Taking the oat position broadly, however, it is evident that stocks and purchases still to arrive from abroad arc by no moans liberal when compared with the requirements of the State. PRODUCE REPORT. The chaff market keeps very firm, and prices show a further advance. _ There is a keen demand for chaff for military purposes, and this is tending to keep up prices. There has been more inquiry for potatoes from the North Island, and values show an Advance of 10s a ton. There is also a deihand for forward, delivery. Prime lots are chiefly asked for, medium quality meeting with little inquiry.

Both oiiton and whoaten straw has again advanced in price. The egg market has weakened. Quotations fluctuate, and some agents report lower values than those named below.

Prime Canterbury onions arc quoted at £5 to £5 10s. There are no alterations to record in the price of other produce lines Current wholesale prices arc as follow: Chaff. —Prime oaten sheaf, £6 15s to £6 17s 6d; medium to good, £5 10s to £6 (sacks extra). Potatoes. —Prime Oamarus, £5 5s to £5 10s (bags in); Taicri-grown, £5 5s to £5 TOs; medium to good, to £4 10s. Hay, £6 10s. Straw.—Oaten, £3 10s; wheaten, £2 10s to £2 15s.

Eggs.—Fresh, Is 8d to Is 9d; stamped, is 9d to Is lOd; preserved. Is 4d to Is 6d. Butter. —Dairy, Is 6d per lb; milled, to Is 4rl per lb; separator, in 11b packets, to Is 4d. Pigs.—Baconers, sgd per lb; porkers, sad per lb. Bacon, —Rolls (in quantities), 10gd; sides, 9|d to lOd; hams, 9d to per lb; boneless barns, 10gd. FRUIT REPORT. The fruit market, taking it all round, has been dull during the week. Agents report that there has been no appreciable difference in prices or demand, despite the fact that this has been Winter Show Week. Heavy supplies of apples and pears were forward, no doubt in anticipation of an expected increased demand and higher prices. Pears, however, have been sold at the auctions at from 3s to 5s per bushel; extra choice Winter-Nobs, grown at Alexandra, arc being hold for 2Ad and 3d per lb. The market is barely supplied with oranges and bananas. No shipments of Sydney fruit have come to hand this week. Quinces are meeting with a keen inquiry, but there are not many available. One case, from Alexandra, brought the record price of sad per lb. The following are the current wholesale prices:— Apples are in full supply. Desserts, 5s to 8s per case, the latter price for Jonathan ; specially choice, up to 3d per lb; cookers, 5s to 7s per bushel, the latter price being for Lord Wolseleys; Greenings, choice, 2d per lb. Other sorts range from 3s to 4s.

Lemons. —In case of 165 fruits; Italian 16s.

Oranges. —Rarotongan repacks, 8s to 9s. Tomatoes.—Local hothouse, 6gd to 9d ; Canterburys—outside, rough. Id to lg-d; medium and choice, 3d to sd; very few offering.

Cucumbers. —Local hothouse, 2s to 3s per dozen (small). Mandarins. 14s to 15s per gin. Passions, 5s to 6s. Pineapples, 12s to 15s. Pic Melons. —Market bare; 7s to 9s per cwt.

Quinces, 2gd to 3gd per lb; wanted. Grapes.—Loral hothouse, up to 2s Id per lb: others. 8d to Is 6d.

Vegetables have bettor sale. Cabbage, fid to 2s per dozen; sacks, Is to 2s sd. Lettuce. 4d to 6d per dozen. Cauliflowers. Is 6d to 7s fid per dozen; sacks, to 7s. Table carrots. 4d to 6d per dozen bunches. Green peas, 2d to 3d per lb; good demand. Brussels sprouts, Is to Is fid per box. Celery. 4d to 6d per bunch. Winter rhubarb. 2s to 3s 6d per dozen bunches. I COMMERCIAL CABLEGRAMS. LONDON, June 1. Silver, 25|d. Tallow; In stock, 8375 casks; imports, 5544 casks; deliveries, 4599 casks. Wheat dull; white sorts unchanged. La Plata and Indian declined by fid to Is. June 2. Wheat.—Chicago July options, 124| to 120 g cents; September options, -119 A to cents. Copper.—Spot, £79 5s to £79 10s; three months, £BO to £BO ss. Tin.—Spot, £l6O to £l6O 10s; three months, £159 15s to £l6O ss. Stock, 16,857 tons; spot, 17.16 tons; afloat, 3071 tons; deliveries, 2359 tons. 4 Lead, £23 10s to £23. Spelter, £97 to £93. Silver, 23 5-16 d per oz. Wheat —A depressed market, with pronounced weakness in America and Canada. White qualities and Laplata are from 6d to Is lower. Indian, offered at Is 6d decline. Australian, afloat, 65s to 665. At the tallow sales 2726 casks were offered and 716 sold; mutton, fine 35s 9d, medium 325; beef, line 355, medium 31s. June 3. The visible American wheat supply is 35,315,000 bushels. Chicago July options, 1205 to 117 g cents ; September options, 117 g to 1141 cents. The Bank of England returns show that the stock of coin and bullion is £57,449,000; reserve, £43,563,000; proportion of reserve to liabilities, 20.20 per cent. ; in circulation, £33,531,000; public deposits, £131,753,000; other deposits, £84,025,000; Government securities, £51,043,000 ; other securities, £138,883,000. Short loans, 2 per cent.; bills, three months, 2| per cent. Following are the prices for Government stocks as compared with those ruling

* Early currency, t 1029-1949 currency, j 1920-30 currency. Wheat. —Weak; sellers offering to accept 6d less. Australian cargo afloat, 655. Flour. —N eglected. Oats. —Dull. New Zealand; 375; Bahia Blanca June-July, 29s 3d. Peas and Beans.—Steady and unchanged. Butter. —The market is weaker, owing to the increasing make on the Continent and in Ireland. Colonial shipments are

slow of sale. Quotations: Australian, choicest, 136 s to 138 s; New Zealand, 140 s to 1425; do, unsalted, 1445. Cheese. —Market firm and prices unchanged. Bacon.—Market very firm. Queensland Cumberlands, 77s to 78s. Copper.—Spot, £BO 12s 6d to £BO 17s Lead, £23 to £23 17s 6d. Sugar.—Market firm, prices unchanged. Bradford reports a strong demand for merinos and fine crossbreds. Bradford tops: —64’s, 38d lb; super 60’s, d; common 60’s, 36^1; 56's, 32d; 50’s, SO^d; 45’s, 27^d; 40's, 28^. Juno 4. Silver, 23^d. Danisli butter, 144 s to 1465. June 5. Wheat is steady. Chicago: July options, 11 b'i to 1204 cents; September, 112£ to 115| cents. Silver, 23 5-16 d. Quicksilver, £ls (nominal). Cotton; Juno-July, 5.25. Jute; Junc-July, £2O 10s. Hemp: June-August. £32 15s. Rubber: Para, 2s 7gd; plantation, 2s 4gd; smoked, 2s 4|d. Copra: May-Juno, £22. FROZEN MEAT MARKET. LONDON, June 5.

The following are the latest quotations for all classes of meat, including ex-store sheep. In the case of those not quoted the

*-None offering. ' Other meats are unchanged. Babbits are steady. New South Wales bines, 17s 6d, ex ship. THE WOOL SALES. BRISBANE, June 4. At the wool sales 40,000 bales were catalogued; good combings sold well at late rates, faulties and scoureds were irregular. DUNEDIN MARKETS. FARM AND DAIRY PRODUCE. Messrs MTlroy Bros, (successors to Irvine and Stevenson), George street, report paying for produce during the week ending the Bth inst., as follows ; Fresh eggs, 1/7 doz I Separator Butter, 1/4 lb Salt butter; n it buying | Honey (bulk), 3Jd lb WHOLESALE PRODUCE REPORTS. J. Lindsay and Co., Princes street south, report under dale the Bth inst.: Wheat per bushel, f Oaten chaff Best milling ... 7/3 I’riine 115/0 Fowls' f 7 U (food J3i'/i Milling oats ... 4 3 Inferior Feed oats.. ... 3/9 Ryegrass and clover .Malt barley ... t’/0 hay IH'.'/J Feed barley ... 5/(3 Cape barley ... • <7 l Straw: Maize ... ... 6.(3 Wheafen ... £5/0 per ton. Oaten CO/U flour, in 200’s ... 350/ j Rolled bacon ... It’d Flour, in 50’s ... 3(35/0 Side bacon ... Hd Bollard 180/0 Smoked haras ... JOd bran 155/0 Cheese ... ...Bd 9d Oatmeal, in 23‘s 40U/0 Sait butler 9d—ltd Pearl barley .. 430/0 -(according to quality) l£ggs, fresh ... 1/9 Onions. —Canterbury, £5 per ton. Chaff. —This market is 'firm, and prices are good. We would be pleased to receive samples or have the offer of any you may have for sale. Prime, 140 s; medium, from 90s to 110 s per ton. Potatoes. —Best lots are saleable at up to £5 5s per ton. Straw Chaff. —Wheaten, G2s 6d; oaten, 70s. HIGH COMMISSIONER’S REPORT. WELLINGTON, June 7. The High Commissioner cabled on J line 5 (note, the quotations, unless otherwise specified, are the average market prices on spot) The meat market is excited, and prices are advancing rapidly owing to short supply. Up to the present the Government has placed only a small quantity of surplus meat on the market. Mutton: Canterbury, 7d for light weight; ordinary quality. 6i|d; ewes. 6id. Lamb: Canterbury, BJd for all weights; second grade. Bgd; other than Canterbury, 83d for best quality light weight; second grade, Bjd Beef: New Zealand, nominal quotations; hinds, 8d; fores, 6|d. The supply of chilled falls short of the demand. Hinds, 9d; fores, 7id. Butter: Market quiet at a decline. During the week the prices for colonial declined 2s to 3s. Danish, 144 s to 148 s; New Zealand, 140 s to 1425; exceptional, 1445; Australian, 136 s to 1425; Siberian, in good demand, 130 s to 1345; Argentine, 134 s to 1365; Irish creamery, 134 s to 1365. Cheese : Market remains firm, but there is less demand. Canadian is in good demand. This season’s make, white and coloured, is quoted at 94s to 98s; New Zealand firm, white and coloured, 98s to 10Os; English Cheddar, this season’s make, 98s to 102 s; United States, in good demand, 92s to 965, according to quality and size: Australian, none offering. The estimated Canadian and United States cheese stocks at London, Liverpool, and Bristol on June 1 were 6350 boxes, chiefly United States flats against 33,000 boxes at the same time last

year. The New Zealand and Australian cheese stocks at London and Bristol on June 1 wore 13,200 crates, against 37,000 at the same time last year. Hemp: Quiet, at a decline. New Zealand, good fair grade, £52 10s; fair, £3O; fair current Manila, £39. June-August shipment—New Zealand, good fair, £32; fair, £29 10s; Manila, £39. The output from Manila for the week was 28.1C0 bales.

Hops: Market steady, and prices are well maintained.. English, 105 sto 80s; Californian, 95s to 635. Wool: Market strong. All stocks are advancing.

Wheat: Market weak and inactive on account of good American crop reports. Canadian May-June shipment, 58s; American July-August, 50s 6d; August-Soptembcr, 50s; Argentine, on passage, nominal, at 595.

Oats: Market dull. Argentine, any post tion, 25s 6d.

SOUTHLAND MARKETS. (From Our Own Correspondent.) ~ _ INVERCARGILL, Juno 5. The oat market is quieter, but farmers are very firm in their ideas, and are not disposed to take less than 4s on trucks for A grade Gartons —indeed, some are asking 4s -d on micks. Buyers, on the other hand, having filled their immed.ate requirements, are very cautious, and it is almost unpossibla to get fresh business through at prices which will enable merchants to make a reasonable profit, and give farmers 4s on trucks. Local merchants are offering now only on the basis of 3s lid for A grade and 3s lOd for B grade, sacks extra, on trucks at country sidings. Iho chaff market remains firm at £5 15s on,.trucks for prime quality. A lot of chaff, however, is soft and interior this season. There is also a fair demand for oaten straw chaff, which is saleable on the basis of from £2 10s to £2 15s on trucks.

There is rather more inquiry for potatoes, but buyers are not yet able to raise thejr prices, which remain on the basis of £4- on trucks in new sacks (weighed in). Farmers for the most part are declining to operate at this figure. 'lherc is nothing doing in ryegrass, as this is the off season, but in about a month’s time hugeness will begin to liven up in view of the spring sowing. The hemp market in London is quieter, but there is very little hemp offering on spot owing to the difficulty of getting supplies, especially of the higher grades. The higher price now ruling should result in a number of mills reopening in the spring. There is also an inquiry lor local on spot,, but there is very little available.

Purchases of milling wheat are being made on the basis of 6s Gd per bushel on trucks, while for good whole fowl -gheat and second-class milling 6s to 6s 4d is offering.

OAMARU MARKETS. (Fbou Odb Own Couk/isi-ondent.) OAMARIL June 5. A 7 ery little business has been done in this market this week, grain brokers having been away in attendance at the Dunedin Show, while offerings from the country have been few. Some small parcels of velvet wheat' have changed hands at country stations at 6s Hid net at the beginning of the week, and 7s net later; but it would be impossible to obtain any quantity at even the higher rate, as holders in the country are not prepared to sell at the figure, and look for more money. Some odd lots of red chaff and Marshall’s white have been secured at country stations at 5s XOd bet. Present values may be set down at 7s to 7s Id for velvet, 6s lid for red Tuscan and red chaff, and 6s lOd for Marshall’s white and solid straw Tuscan—all net at country stations.

Oats are not offering at all from the country, and the only transaction reported is a small line of A grade Gartons taken at a country station at 4s 2d net. B grades are quoted at a penny less. Oaten sheaf chaff is in demand, but none seems to be procurable. Potatoes have advanced steadily during the week. At its outset purchases were made at country stations at £4 7s 6d net, but since then £4 15s has been given in a number of instances. GRAIN AND PRODUCE REPORT'S. Messrs Dalgoty and Co. report as follows; Oats: Since our last report offerings from the country have been lighter, and anylines available are firmly held by farmers. Merchants, having their immediate requirements tilled, are not operating so extensively. Values, however, remain ' firm. Prime milling, 4s 3d to 4s 4d; good to best feed, 4s to 4s 2d; inferior and damaged, 3s lOd to 3s lid per bushel (sacks extra). Wheat: There has been more inquiry of late for samples in good milling condition, especially for velvet and velvet ear,- which varieties have not been offering freely. Fowl wheat is in fair supply, and meets with a moderate demand at quotations. Prime milling velvet, to 7s; Tuscan ancli red wheats, 6s 6d to 6s lid; best whole fowl wheat, 6s 6d to 6s 8d per bushel (sacks extra). Potatoes: There has been a better inquiry from shippers and merchants of late, and with the moderate supplies coming forward the market shows a further firming tendency. All freshly dug, well graded samples in new sacks are meeting with a ready sale on arrival at ad vanoed values. Best tables, £5 5s to £5 10s; choice lots, to £5 12s 6d; medium.-, to good, £4 15s to £5 per ton (sacks in). Chaff: All consignments coming forward during the past week have been meeting with a good demand, and choice bright oaten sheaf has been readily disposed of at quotations. A good deal of the chaff coming forw r ard of late has been of medium to good quality, which also 'has met a ready clearance on arrival. Best oaten sheaf, £6 15s to £7; good, £6 10s to £6 15s; medium, £6 to £6 7s 6d per ton (sacks extra). Messrs Donald Reid and Co. report:—We held our weekly sale of gram and produce on Monday, when values ruled as under: — Oats: All consignments coming forward during the week have met a strong market and ready sale at quotations. We have good inquiry for prime lines of all kinds for direct consignment from country stations, and can place these at an advance on late values. Lower qualities are also in fair demand. Prime milling, 4s 3d to 4s 4d; good to best feed, 4s to 4s 2d; inferior to medium, 3s 9d to 3s Hd per bushel (sacks extra). Wheat: Very little southern wheat has been offering of fate, and in view of the advance in values reported Jn northern markets, holders are not disposed to accept prices ruling during the past few weeks. Millers are buyers of choice samples, but are not keen to purchase medium quality. Fowl wheat is offering freely, and meets with moderate demand. Prime milling

velvet, 6s lid to 7s; Tuscan, etc., 6s lOd to 5s lid; best whole fowl wheat, 6s 6d to 6s 8d; medium, 6s to 6s 4d per bushel {sacks extra). Potatoes: The local demand continues to bo good, while there is also fair inquiry for good shipping lines. We have made considerable sales for export at an. advance on late quotations, and have further inquiry in this direction, prime quality being essential. Best table potatoes, £5 10s to £5 12s 6d ; medium to good, £4 15s to £5 5s per ton (sacks included). Chaff; The export demand is not quite so brisk, but all . consignments of prime quality coining for ward arc meeting with ready sale at prices fully equal to late quotations. Lower qualities arc not so keenly competed for. Prime oaten sheaf, £6 15s to £7; medium to good, £6 to £6 10s; 'straw chaff, £3 to £3 10s per tori (bags extra).

MELBOURNE HIDE SALES. MELBOURNE, June 3. At the hide sales to-day there were average supplies. Heaviest and mediums, in good condition, wore id dearer; others, id cheaper. CLEARING SALE. ' _ The Otago Farmers’ Co-operative Association of New Zealand (Ltd.) report: —Wo held a most successful clearing sale on account of Mr Harwood, of Pukehiki. Thero was a good attendance of farmers from all parts of the Peninsula, and everything offered was keenly competed for, and sold at satisfactory prices. Spring calvers sold up to £6 10s; yearling steers and heifers, £2; heifers, to £5 17s 6d. Horses and implements at full market values. OTAGO FARMERS’ HORSE BAZAAR. The Otago Farmers’ Co-operative tion of New Zealand (Ltd.) report :—Wo held our annual winter horse sale in our bazaar on J Irursday and Friday last, when we offered at auction an entry of 146 horses, comprising draught mares and geldings' vanners, spring-carters. ' and lorry' horses! There was- a crowded bazaar for both days’ sale, Canterbury, North Otago, Central Otago, arid Southland districts being well represented. A large number of farmers and contractors were offered suitable sorts, and from the commencement of the sale bidding was keen for country horses, vendors; in practically every instay.ee, had come to the market prepared to'sell, and wo had no difficulty in placing good, sound young draught nTares and 'foldings at prices ranging from £26 to £3B. The number of pedigreed marcs offered was not large, but marcs suitable for breeding and genera} farm work sold exceptionally well. The sale was much beyond our expectations, and the tone of the market points to better prices for good, useful farm horses.

SALE OF CONTRACTOR'S PLANT. The Otago Farmers’ Co-operative Association of New Zealand (Ltd.) report having held a most successful sale of horses, drays, and general contracting plant on account of Mr Charles Meade," of Musselburgh. There was a good attendance of town carriers, contractors, and farmers. The horses were all in fine fettle, and comprised several Tug geldings suitable for tipcart and lorry work. With the exception of a few aged horses all wore well corapctccj for. and sold at satisfactory prices, some realising from £3O to £34. The drays, although in good repair, were hard to dispose of, and several had to be passed in.

a week ago : — Victorian 4’s Mav 27. 991 June 3 97 Victorian Si's* 831 83g Victorian Si’s 91i 91* Victorian 34’s f 76 76 New South Wales 4's ... 96g 95* New South Wales BJ’s 874 87* New South Wales 3Vs t 83g 83J New South Wales 3’s 80 79J Queensland 4’s 98* 97 Queensland Si's Queensland 3’s 9l| 91j* 74i 74* South Australian Si’s ... 85J 861 South Australian 3’s — — New Zealand 4i’s New Zealand 4’s — — 93g 95J New Zealand 3i’s 844 83* New Zealand 3’a 70 76 Tasmanian Si’s Tasmanian 3’s 85J — — — West Australian 3i’s 88J 87J West Australian 3’s — —

price is unchanged: — May 28. A June G. ci. Canterbury mutton, light — Canterbury mutton, medium — GJCanterbury mutton, heavy ... — G| Southland mutton — — N.l. mutton, best brands, £6-5416 — n N.I. mutton, ordinary, 66-6416 ... 7 7-16 61 N.Z. ewes G Australian mutton, light 6j 64 Australian mutton, medium — — Australian mutton, heavy 6 — Australian ewes O4 6i Eivcr Plate mutton, light, 40-Bolb 6i * River Plate mutton, heavy, 6B-721b 6 6.4 River Plate ewes °s — Canterbury lamb. light 84 83 Canterbury lamb, second quality 8 8$ Canterbury iamb, medium — 8$ Canterbury lamb, heavy — 84 North Island lamb, selected 81 8i North island lamb, ordinary. 7-4 84 fcouthlaud iamb, selected — Southland lamb, ordinary — Australian lamb, best brands 75. 8 Australian lamb, fair quality 74 8 Australian lamb, iufarior ... ... River Plate lamb, first quality ... 1% T% 7-L River Plate lamb, second quality 7i New Zealand beef, fores New Zealand beef, hinds — Australian heel, fores Austnliau beef, hinds — B. X'late beef, chilled lores 6J 7h R. Plate beef, chilled hinds „ 84 R Plate beef, frozen fore* ... — U. Plate beef, frozen binds .„ Uruguay frozen fores — — Uruguay frozen hinds — Uruguay chilled lores- — Uruguay chilled hinds — — S. American Iambs, first quality — — S. Ameiioaa lambs, second quality — —