THE BREADSTUFFS AND PRODUCE MARKETS.

Otago Witness, Issue 3339, 13 March 1918, Page 13

THE BREADSTUFFS AND PRODUCE MARKETS.

Friday evening. Tho announcement that arrangements nad been completed whereby the Allies acquire tho surplus of the wheat and otuer cereals grown by Argentina up to 2,500,000 tons is of interest to Australia.. The grain is to be shipped by November 1, and tue price is to be 12i dollars per 100 kilos. On the basis of paper currency this works out at about 6s 6d per bushel, free on board (says tne Australasian). Tho relative proximity of the grain to Europe and tho consequent saving jn tonnage are no doubt considerable factors in settling the price. The purchase of euch a largo quantiy of Argentine wheat for prompt despatch indioates either a great increase in the tonnage available or a concentration of vessels on to that particular route. Argentina, however, is apparently incurring no risk by disposing of even so large a quantity of cereals as that cabled. The exportable surplus of wheat alone is estimated at the lowest to bo 128,000,000 bushels, while the yield of maize also promises to bo heavy. President Wilson has fixed the minimum price for 1918 wheat at 220 cents per bushel (9s 2d), and is urging farmers to serve humanity by hastening deliveries. The President indicates that growers will be exempt from military draft. The price now fixed is similar to that which was in force for the 1917 crop. In reference to a recent cable message stating that a Bill had been introduced into the United Sates Senate fixing the minimum price of wheat at 250 cents per bushel (105.5 d), this is understood to apply only to wheat imported from other countries. »• The shipment of Victorian-grown wheat which -arrived this week is of very /good quality. . One miller states that, in his opinion, it is tho best line of the Australian wheat purchase so far received in Dunedin. The sacks, too, were of- better quality than those of the previous cargoes. So far as locally-grown wheat is concerned, farmers are now thrashing, and small quantities are coming to Dunedin. The returns so far are reported to bo rather disappointment, but the quality-yis right up to standard. ' Flour is quoted at £ls 10s a ton. Oatmeal, £22 a ton for 25's. Pearl barley, £25 10s. Pollard. £7 10s,(fixed by Government). Bran, £4 5s (fixed by Government). Government prices for wheat: 5s lOd per bushel all round for February, March', and April delivery. There is a considerable inquiry for oats from the North" Island at prices running up; tw 4s 6d, f.o.b.s.i, for A Gartons, but not much business is resulting, as so little is offering from farmers, and they are asking such high prices that 4s 6d, f.o.b.si., would not ,leave merchants anv profit. It would appear that the imperative need of a few over-sellers to obtain oats has farced the market up, and that current values are more or less artificial. As the Government does not contemplate tho purchase of any oats for export, and has no contracts on hand, and as, moreover, oats cannot bo exported without the consent of the Government, the -market must be a more or less local one, unless there is a change in. the present conditions. Offerings of oats should become far more plentiful when farmers have completed their wheat-thrashing and have time to devote attention to oats. Samples which have come to hand show that there is going to be a lot of good A Gartons this season. PRODUCE REPORT. The local market is rather bare of stocks of chaff, farmers not having_ sufficient time, owing to harvesting operations, to devote much attention to chaffing. Good sound potatoes are not too plentiful, and tho market is firm. Reports from the country state that blight is affecting the main crops, and that there is a possibility that the average return of sound tubers may be seriously affected. The price of eggs has receded during the week. Dairy milled bulk butter has firmed in price. There was a medium yarding of pigs at Burnside on Wednesday. There was very keen competition, and a clearance was effected at exceptionally good prices. Best porkers reali-ied up to B£d per lb; and best baconers, up to 8d per lb. Current wholesale prices are as follow: — Fowl Whiut.—Australian,' 7s a bushel; New Zealand grown, unprocurable in the meantime. Chaff.—Prime oaten sheaf, about £7; medium to good, £4 to £5 (sacks extra). Potatoes, to £7 per ton (sacks in). . Eggs, Is 7d to Is Bd. Butter.— Milled bulk, Is Id to Is 5d per lb; second quality, Is; dairy separator, in lib packages, Is to Is 2d. Honey.—Now season's, 9d per lb. Pigs. —Baconers, 8d to Bid per lb ; porkers, to B|d. Bacon.—Rolls, local, Is 3-i-d; Cnnstchurch rolls, Is 3£d; sides. Is 3d; hams, Is 3d; ham rolls, Is 3d. FRUIT REPORT. Business has been very brisk in the fruit marts during tho week. Large quantities of pears have arrived from Central Otago and Christchurch, and owing to the warm weather they ripened quickly and agents were unable to hold them. As a result prices have weakened, but as the majority of the soft sorts are now pretty well finished for the season, the market may recover next week, when the firmer quality varietois are expected to commence to arrive. Some very large lines of tomatoes arrived in tho early part of tho week, and prices weakened a little. Ouiijignmeiits were not so heavy the last few clays, -and prices have firmed again. Despite the fact that supplies of tomatoes, both from Central Otago and

Christchurch, have been heavy, prices must be considered as remunerative to the growers—in fact, at this time last year the prices ruling for tomatoes were only half those current to-day. A shipment of Fiji bananas missed the connecting southern steamer at Auckland, and as there is no other vessel available for about a fortnight the fruit will probably have to be brought on by train. The drawbacks of the overland transit may rosult < in a portion of the southern shipment being placed on the Auckland market. Considerable quantities of grapes have reached the market, and prices have receded. Peaches will soon be finished for the' season. Any coming forward meet with a ready sale at remunerative prices. Current wholesale prices are as follow: — Apples.—New season's dessert, 7s 9d to 10s per case; cookers. 5s to 5s 6d for best; medium, 3s to 4s. Cox's orange pippin now coming forward, to 10s per case for choice. Pears.—Best to 2id; others, lid to 2d; Christchurch Bon Chretiens, 4s to 6s. Lemons. —Californian only, 455. Cucumbers. —Local hothouse, 2s 6d to 4s 6d for best; outside grown, to 45,6 d per box. Plums.—Dessert, in crates, to 3j.d; others, lid to 2|d. Nectarines, in crates, to sgd per lb; in cases, to 4d for best. Peaches. —Cases, 3d to 3£d; crates. 3id to 4gd; jam, 2jd. Bananas, to arrive. Blackberries, 4id to 6£d. Quinces, 4s 6d to 5s 6d. Tomatoes. —Local hothouse, 6d and 7£d; Christchurch, outside, 2d, 2|d, and 3d; Central, to-4d. Raspberries,/ 6d to 7d. Grapes.—Choice locals, to Is 2d; others, 9id to Is. Green Peas.—Plentiful, 2d for best; others, Id to lid. New Potatoes. —Peninsula, 9s 4d por.cwt, firm; Taieri, 8s 6d per cwt. Cabbage, choice, up to 2s per. dozen; inferior, Is to 2s per sack. Cauliflowers, up to 7s per dozen; medium, 2s to 3s. Lettuce, 6d to Is per case; choice, Is per dozen. Parsnips, Is to Is 6d per dozen. Carrots, new, Is per dozen. French beans, Id to lid for choice; others, Is 6d to 2s per bag; butter beans, Id-per lb. MERCHANDISE MARKET. Latest cable advices from bingapore record a reduction in the price of sa<go. Sago can now be purchased in Dunedin at 36s per cwt. Desiccated coooanut also shows a reduction in price. Chests are now quoted at sid per lb, and half chests at sid. Yardley's shaving soap has been advanced to 14s per dozen. Future shipments will bring an even higher price. Melhuish's sauces and pickles have advanced Is per. dozen bottles. Despite the arrival of a big shipment of sugar from Auckland stocks in merchants' stores are very low. Another shipment is expected to reach the local market next week. Suppies of of methylated spirits are not too plentiful. The Cromwell Canning Company announced an advance of Is 6d per dozen in tinned rabbits. Cereo is quoted at 13s 6d and rolled oats at up to 14s per dozen packets. Some tobaccos are in very short supply, and merchants have a difficulty in filling orders for these particular brands. No advice is to hand when further parcels will come to hand. Substantial advances have taken place in some of Reckitt's lines. r ßag blue has advanced in price bv 4s per box, and Zebra paste by 23 3d, with small advances in certain other lines. Caustic soda is now quoted at 13s 6d per dozen lib tins. Bonnington's Irish Moss and Baxter's Lung Preserver both show an advance in cost. Advice has been received that the export of capers from England has been prohibited. Local stocks are not too plentiful. Some merchants report - that their stocks of Epsom salts are of small compass. Imitation parchment paper is. now worth Is per lb, and genuine Is 4d. CANTERBURY MARKETS. GRAIN AND PRODUCE REPORTS. (Christchurch' Press, March 9.) Business has been exceedingly dull during the past three days, and offerings of all classes of grains have been very small indeed. Owing to the relief affoi'ded by the extra facilities for inter-island shipping, some small amount of business has been done in oats for the north; but, generally speaking, the market has been very slack, and there is no quotable difference in prices to record, which are as follow: Milling wheat, according to Government price. South Island, January, February, and March, 5s lOd; April, 5s 10£d; May, 5s lid; June, 5s Hid; July, 6s; August, 6s Oid, f.0.b.; North Island 4d additional. Oats—Algerians, Duns, and Danish, 3s 3d to 3s 6d; Gartons, 3s 6d to 3s Bd. Barley, 5s 6d to 53 9d; extra prime to 6s; medium, 5s to 5s sd. Flour, £ls per ton; 1001 b bags. £ls 10s: 501 b bags, £ls 15s; 251 b bags, £l6. Bran, £3 10s per ton. Pollard, £6 15s per ton. Oatmeal—2slb bags, £23 per ton; 71b bags, £26 per ton. Oatsheaf chaff from £4 to £4 10s per ton, according to quality. Cocksfoot, 10id to Is per lb. Ryegrass —231 b to 261 b seed, 3s 6d to 4s; extra prime heavy seed to 4s 6d; lighter seed, 2s 6d to 3s. Onions—main crop, £3 15s. Potatoes —early varieties, £3 5s for present or forward delivery. Prices of dairy produce remain steady at late rates. Values are as follow: Butter—factory, Is 6d net; farmers' separator, Is 2d; dairy, Is. Cheese—factory, lOd ; dairy, 9d; loaf, 9id. Bacon —sides, Is 2d; rolls, Is 3d; hams, Is 3d. Honey—extracted, 6d per lb. Eggs, Is 8d per dozen. TIMARU MARKETS. Wheat is not offering in any volume (reports the Tiraaru correspondent of the Christchurch Press), and the few lines that are coming to hand show signs of weather. Fowl wheat is in good demand at the full maximum price for wheat inferior to good milling. ■ Oats aro strong, and offering. very sparingly. A grade Gartons are worth 4s to 4s 2d per bushel on trucks at country stations, and feed oats from 3s lOd to 4s, whilst Duns range from 3s lOd to 4s 3d, according to quality. Oaten sheaf chaff is in good demand; but offerings are light. The value is from

£4 10s to £5, on trucks at country stations, sacks found by buyers. v The demand for potatoes has not yet commenced, and meantime several growers are digging, and show a little anxiety to sell. The- value may be quoted nominally at £4 on trucks at country stations. Ryegrass continues to be in good demand, but is not offering very freely. COMMERCIAL CABLEGRAMS. LONDON, March 8. Bank of England returns: Coin, £59,075,000; reserve, £30,944,000; proportion of reserve to liabilities, 17.31 per cent.; circulation, £47 591,000; Government deposits, £41,022,0C0; other deposits, £137,715,000; Government securities, £67,737,000; other securities, £95,191,000. Short loans, 3£ per cent.; three months' bills, 3 9-16 per cent. Consols, £54. Quotations for colonial stocks, as compared with those for the previous week:—

The Bank of Australasia has declared a half-yearly dividend of 14 per cent, for the year, and a bonus of 12s 6d, equivalent to 17 per cent. Copper, £llO ss; three months, £llO 155., Electrolytic, £125. Lead, £29 10s; throe months, £2B 10s. Spelter, £54; three months, £SO. Tin, £319; three months, £316. Silver, 3s 6|d per oz. Tin stocks, 20,007; spot, 2703; afloat, 3370; deliveries, 1595. Hemp.—ln fair demand, prices uachanged. Rubber.—Para, 2s 7£d; plantation, 2s s£d; smoked, 2s 4|d. PRODUCE MARKETS. ' LONDON, March 8. A large number of American and New Zealand butter cargoes have arrived. The distribution of the trade's applications commence on Friday. There is no business in wheat. The commission have released small quantities of overseas flour at later rates. Home milled is freely offering. Oats, beans, and peas are in strong demand at full rates. Sugar is unchanged. WHEAT BOARD'S REPORT MELBOURNE, March, 6. The report of the Wheat Board states that the proceeds of the sale of the 1915-16 crop amount to £32,000,000. AUSTRALIAN FLAX. MELBOURNE, March 8. The British Government has agreed to purchase the coming season's flax at £l7O (?).

DUNEDIN MARKETS. FARM AKD DAIBY PBODUCB. Mr B. J. M'Abthtjb (successor to Messrs M'llrov Bros), George street, reports paying ior produce during tho week ending fbo 12th mat., as follows: Stamped fresh Eggs I Honey (Jib pat), 4/6 1/9 doz Honey (bulk), 8d lb Salt Butter, 1/- lb | Honey (section), 7/fi do* Sod. Butter, l/l lb I Honey (Cartons), lib, 6/I 21b, 15/- doa I Beeswax, 1/S. , Compressed yeast, 8d packet. HIGH COMMISSIONER'S REPORT. WELLINGTON, March 11. -The High Commissioner reported as _ follows on March 9. (Note: The quotations,

unless otherwise specified, 4 are the- average market prices on spot); Meat. —The wholesale maximum prices of imported meat have been raised, and are now the same as the English prices. Mutton and lamb are now quoted at 13d and beef at 12-id. Supplies consist chiefly of imported meat. **" Gutter and Cheese.—There is no change since last report. Both are in active demand, with short supplies, which consist chiefly of Argentine and colonial. There are no stocks of French, Danish, or Irish on the market. Hemp.—The Manila hemp market is steady, and fair business is doing. New Zealand continues to be in active demand if shipment has already been made, but business cannot bo done on forward shipment. Wheat and Oats The market is quiet and steady, and there is no change in prices. OAMARU MARKETS. (FiiOM Oub Own Cobbespondent.) OAMARU, March 9. With good weather and much harvest work still to get through, farmers are prevented from coming into town, and offerings of wheat still continue comparatively small. A fair amount of business is reported during the week, several lines of considerable dimensions having changed hands at Government prices, including a straight line of velvet of. about 1000 sacks. One mixed line of 16C0 sacks was included in the week's business, besides two of between 900 and 1000 sacks, two of about 800 sacks each, and several ranging downwards to 400 sacks. The wheat is generally pronounced of good milling quality, while some of the samples are excellent. Very few oats have come on 'to the market during the week, and it is evident that only a small amount of thrashing of this cereal has been done. The market has further hardened, and A grade Gartons have been sold at from 4s to 4s 2d net on trucks, while fair quality Algerians have brought up to 3s 9d i net at country stations. Other sales of the latter _ variety have been made at country stations at from 3s 6d to 3s 8d net at country stations. Offerings of seeds are rore, and the only transaction reported during the week was tne sale of a parcel of good quality perennial ryegrass at 3s 9d net at a country station. ~ SOUTHLAND MARKETS. (Fbom Oub Own Cobbespondknt.) INVERCARGILL, March 9. 'The oats market continues to advance, A grade Gartons to-day being worth 3s lOd to 3s lid on trucks, according to distance from the port, while B grade are fetching a pennv less. A grade sparrowbills, can be quoted 'at Id under these rates, and B grade at 2d less. The greater part of the crop is now safely in stack or has been thrashed, and tho quality of the few samples submitted by growers is very prime. Given another week's weather similar to what we have been having for the past, tho whole of the crop should be saved in the finest order. The demand for chaff is for local consumption only. The prospects of finding a market in the North Island, this season are not very bright, by reason of the scarcity of freight and the fact that Canterbury shippers can obtain cheaper • rates of freight from their ports than are obtainable from Bluff. Old chaff is fetching from £5 15s to £6 on trucks. It will be some little time before new chaff will be ready for the market. , . . ', Wherit is likely lo come m in splendid condition, but so' far none of the new- crop has been offered. The ryegrass market continues very firm, but buyers do not show a great deal of disposition to operate at existing high values, being of the opinion that prices are bound to go back very shortly. This week as much as 4s 9d per bushel on trucks has been paid for clean, heavy samples. There has been very little business done io hemp,, owing to the shipping as there has been no hemp shipped from Bluff since December, and large stocks are accumulating in the stores. A few purchases have been made at £SO per ton on trucks for high fair, and £4B per ton for low. fair, for prompt delivery. GRAIN AND PRODUCE SALES. Messrs Donald Reid and Co. report: Oats: The keen demand reported last week still exists, and samples of newly thrashed oats in good to prime condition met with ready sale. Lower grades are not so keenly competed for, but of these there is only, a small quantity offering. Prime milling, 4s 2d to 4s 3d; good to best feed, 3s lid to 4s Id; inferior and medium, 3s 6d to 3s lOd per bushel (sacks extra). Wheat: Deliveries of good milling wheat are now being freely made to millers, but so far the proportion of inferior wheat suitable for fowl feed is very limited The few small lots coming to hand meet with ready sale on arrival. Potatoes: Freshly-picked lots in good condition meet a good demand, but blighted or inferior lines are not in favour, and are somewhat difficult to deal with. Best table potatoes. £6 15s to £7; medium to good, £5 10s to £6 10s per ton (sacks included). Chaff: Most of the consignments coming to hand at present are of only medium quality, for which the demand is- not keen. Prime oaten sheaf, on the other hand, is in strong demand, and sells readily at £6 15s to £7; medium to good, £6 to £6 10s; light and discoloured, £5 to £5 15s per ton (bags extra). Messrs Dalgety and Co. report:—Oats: There continues a strong inquiry for all lines. Bright, heavy samples suitable for milling and seed requirements have been strongly competed for, while Sparrowbills are readily quitted at full rates for local feed purposes. Prime milling, 4s 2d to 43 3d; good to best feed, 4s to 4s Id; medium

to good. 3s 9d to 3s lid per bushel (sacks extra). Wheat: All new season wheat of milling quality is readily taken by millers at fuil Government rates, while fowl wheat meets ready sale at regulation prices. Potatoes. —'Ihe market lias been moderately supplied of late and late rates are maintained. Best quality freshly dug lots aro in most demand and readily quitted on arrival. Diseased and faulty lines are not in request. Beat freshly-dug tables, £6 10s to £7 per ton (sacks in). Chaff: Choice bright* heavy oaten shoaf has been offering sparingly of late, and consignments of this description are readily cleared at quotation. In the absence of supplies of good chaff, medium quality lines nave more inquiry. Best oaten sheaf, £6 15s to £7; medium to good, £6 to £6 10s per ton (sacks extra). OTA GO FARMERS' HORSE BAZAAR. _ The Otago Farmers' Co-operative Association report: We held our weekly sale of horses on Saturday. We had an entry of 35 horses of rather better character than for the past few weeks. A fair number of useful cart mares and geldings suitable for plough teams came forward, all of which met with good competition. The bulk of the entry m this section was purchased by farmers. The prices were not high, but vendors made up their minds to meet the market, and consequently a fair clearance was effected. Several spring-carters were included in the- entry, the bulk of them going to fresh quarters at satisfactory rates, although there was no improvement on. late values. A good many aged harness sorts passed under the hammer at very low figures. Quotations: Young, sound, sharp, clil'ty geldings, £25 to £2d; extra heavy horses, £26 to £32; seven-year-old and over mares and geldings. £l3 to £2O, and what is usually termed aged, £lO to £l2; manners and spring-carters, £ll to £2o'; light sorts of harness horses, at fluctuating prices. PROPERTY SALES. Messrs Sievwright, Haggitt, and! Co., land agents, report having sold the following properties during the past six weeks:—■ Mr William M'Pherson's Kuri Park estate, at Kuri Bush, comprising 558 acres freehold, to Mr Joseph Charles, of Timaru; the late Mr W. H. Miller's freehold of 1115 acres, at Manuka Creek, to Messrs Hugh M'Kay (Timaru) and Amos M'Kegg (Henley); Mr Shaw's renewable leasehold at Four Peaks," South Canterbury, containing 695 acres together with stock and plant, to Mr George M'Gregor, late of Nelson and Central Otago: Mr Hugh M'Kay's small grazing run of 670 acres at Pomahaka, ae a going concern to Mr David Danker, of Dunedin; Gourley's estate, containing 6 acres Li.p.; situated at Janefield, to Mrs Jane O'Kane, of Dunedin; Mr Peter G. Stanger's freehold of 76 acres at Herbert to Mr J. Lindsay, of Dunedin; Mr Joseph Charles's freehold farm of 161 acres freehold at Kingsdown, Timaru, to Mr Wm. MThereon, of Kuri Busht Mr G. S. M'Kenzie's three houses in Dunedin, to Mrs Richardson, of Dunbaokr'Mr J. K. Brown's 2661 acres freehold, between Waitahuna and Waipori. to Mr Robert G. Cotton, of Waipori; Mrs Richardson's 93 acres freehold as a going concern at Dunback, to Mr G. S. M'Kenzie, of Dunedin; Mr Peter M'Rae's residence at Brockville, to Mrs Catherine Hutton, of Waianakarua: Mr J. Lindsay's 550 acres freehold at Brighton, to Mr P. G. Stanger, of Herbert; Mrs Catherine Hutton's 22 acres freehold and eight acres leasehold, at Waianakarua, to Mr Wilkins, of Port Molyneux. .

Feb. 28. Mar. 7. "Victorian 4's - . ... 96£ 96J Victorian 3i's ... sei 60i( ?) Victorian 'dl's * ... ... 701 86g(?) Victorian 3's . ... 621 02g . New South Wales 4's ... ... , ... 82i 82J New South Wales 3J's . ... 99£ 99| New South Wales 3J's t ... , ... 7l| 70 New South Wales 3's . ... 69} 70$ Queensland 4's . ... 91 91 Queensland 3i'a . , . ... 88-J 89 Queensland 3's . ... 62 62J New Zealand 4's , ... 86J 86| New Zealand 3J's , ... 73 72JNew Zealand 3's , ... 63$ 62£ ■South Australian . ... 72 72J South Australian 3's ... 67 56j Tasmanian 3i's . ... 71£ 711 Tasmania!) 3's . ... 65J 65 West Australian 3i's ... 76J 76| West Australian 3's ... 69$ ' eo| March 9.