THE BREADSTUFFS AND PRODUCE MARKETS.

Otago Witness, Issue 3475, 19 October 1920, Page 12

THE BREADSTUFFS AND PRODUCE MARKETS.

i'ricUi-y evening.

In view of the .interest which is now being taken in bulk handling in South Australia, I the following •'extract from a letter by the latest English "mail, written by an AustrtfU.vM* merchant after travelling 2500 miles" lii America, and closely studying the position there, deserves close attention: —"Bulk handling, so far, has not bean established in; California, even although they grow enormous quantities of barley. In Washington and Oregon they have some small country silos, but at the moment shippers decline to buy. grain not in bags. There is a big elevator (1,000,000 bushels capacity) at Portland, Oregon, but so far it' is not used. The charges are higher than: it costs us (Australia) to ship in bags. The West Coast of America is not a bulk handling proposition,. and the trade is just as scared of it as we are. Most of the storages at country stations are wooden sheds for bagged stuff. One important thing i-j that elevators, cannot pay on American rates, simply as a storage proposition. An elevator of 1,000,000 bushels capacity must turn over 15,000,000 bushels per annum jLo cover expenses based on present American charges." Private cables state that the harvests in European wheat-importing countries were generally disappointing, and in the United States there had been a reduction in the spring wheat estimates. The Canadian outturn was good, and ths quality of the wheat was splendid. There had been partial rains in the Argentine. European countries were making great efforts to economise in wheat consumption. The world's wheat supply ap- , peared to be about sufficient to cover needs. A statement issued subsequent to the last meetings of the Australian Wheat Board in,•> Melbourne, when the handling of the new crop was considered, was that farmers next year would get world's parity for their wheaj sold for consumption in Australia. That would mean an increase of something like 50 per cent, on the present price; but the pro.,. posal appears to be far from the cut and dried affair which agriculturists in this State have assumed it to be. Farmers cannot afford to ignore what the politicians in other States think of the matter. Evidently, from! the remarks which Mr Dunn (New South Wales Minister of Agriculture) made at the conference on the welfare of agriculture on September 13, he is not in favour of the farmers receiving the world's parity for their wheat. He says he is not wedded to the "world's parity," because he never knew what it was. Commenting on this the Sydney Morning Herald said: The "world's parity" is_ a loose phrase; more correctly it is the "parity of the world's price. In most commodities London rules the world's price. And the Sydney parity of the world's price of wheat, for instance, is the London price less shipping and loading charges, insurance, and exchange. The. same applies to Australian butter. The Australian parity of the world's price of butter is the English price less shipping and other charges; quality, of course,

being regarded. On the goods wo import the reverse is the case. Thus the Sydney parity of the world's price of English herrings is the English cost phis shipping and handling charges. It can therefore he seen that in a season of insufficient production of wheat for our own consumption, leading to the necessity of importation, the Sydney parity of the world's price would be, for instance, the Argentina parity cf the world's price plus the cost of shipment here. It bodes ill for the farmer getting the full price of his product when a Minister confesses to not knowing what the world's parity is. LOCAL MARKETS. The wheat market has been very quiet during the week. Small lines only have been sold by farmers who desire to clear out their barns. Millers' prices are as follow:—Flour, £l7 per ton; 100's, £lB 10s; 50's, £l9; 25's, £2O. Bran, £8 45s per ton. Pollard, £lO 15s. Pearl barley, £35. Oatmeal, £3l per ton. The oat market shows a further weakening. Fairly large quantities of B grade oats have been sold during the week at 4s Id, f.0.b.5.i., and in some cases <ls has been accepted. A number of ' southern merchants who were strong holders are now commencing to realise that the market can hardly improve, and are prepared to sell at current quotations. The chief buyers are Auckland merchants, who are seeking to csver their forward commitments. Local millers are well stocked with A Gartons. and one or two inquiries have been received from North Island millers not so well plaped for these Gartons. Practically the only business, however, is confined to the operations by the Auckland merchants who sold forward. A small demand still exists for seed oats from growers who are finishing off their sowing. Reports from the North Island state that few sales of ryegrass are being effected. Stocks in the South Island are, however, on the short side but this fact'notwithstanding they appear equal to the demand. PRODUCE. REPORT. . The shipping market for chaff is on the quiet side 'n sympathy with the weakness in oats, but owing to the small consignments coming to handl the local market remains un- ■ changed. Good quality is selling at £8 to £8 5s per ton, sacks extra, ex truck, and medium at from £7 5s to £7 15s, sacks extra, ex store. Stocks of potatoes are accumulating, and the market is now in a stagnant condition, with very little hope of improvement. Best quality is offering at £3 per ton, sacks included, ex store, with few buyers. A small line of Califomian onions is on the market, and is quoted at 38s per cwt. .- A small parcel of Melbournes has also arrived ex Paloona from Melbourne. The price of eggs remains unchanged. Margarine has advanced Id per lb.. Current wholesale prices are as follow: Chaff: Sound" oaten sheaf, £8 to £8 ss; medium, £7 10s Potatoes: Prime, to £3; poor quality, bard to sell. Onions: Melbournes, 345. Eggs, Is lid to 2s per dozen. Margarine, to is 3|d per lb. Pigs: Prices irregular. •- Bacon;.. Rolls, up to is 9d; sides, Is Bd. Hams, ; Is lOd. FRUIT REPORT. A choice lot of bananas cam* to hand by the Rakanoa, and sold at up to 30s per case. Sturmer apples of first quality are not in sufficient, supply to meet the demand. Inferior qualities are slow of sale. Lemons are in short supply. A small shipment is due to arrive shortly. So far as can be gathered, there is nO fruit on the 1 Paloona. Sound prices -are realised for good bages'.Cauliflowers' are in plentiful supply, and prices are easier. There are not many oranges in the wholesale marts. There is no- advice when further supplies ' will be available. A parcel of leeks, grown at South Dunedin, sold under the hammer at 2id per bunch. Prices for lettuce have eased. A consignment of coooanuts ex the Rakanoa brought 25s per sack. - Current wholesale prices are as follow: Dessert apples: Stunners, 9s 'to 12s 6d; Lord Wolseleys, 7s 6d to 8s 6d; medium Lord Wolseleys, 5s to 6s. *v : '.. Pears: Extra choice Winter Coles, 18s per case." Bananas.: Green, 28s to, 30s: Lemons: American, 45s per case, i Mandarins, 255, to 295. 7 -' •*. Oranges: Sydney, 20s to 295; Navels, to 28s. .... '. v 'Table carrots: Gase3, 3s; BsJsd per cwt. Cabbages: Small, 5s to 5s 9d per dozen; medium and inferior, almost unsaleable; sacks of two dozen, 8s per sack.. .-' . . Cauliflowers: Medium, 4s to 5s per dozen ) Backs of 15, choice, 7a. -Potatoes, 4s per cwt. Table swedes, 5s 6d per cwt. Rhubarb, 3s per dozen bunches; lfd per lb. Lettuce, 2s 6d to 3s per dozen. Spring onions, Is to Is 4d per bundle of six bunches. Radishes, 9d to Is per dozen bunches. Spinach, Is 6d upwards per dozen bunches. - MERCHANDISE MARKET. A parcel of preserved ginger in 14's, 28's, and 56's has arrived from Hongkong, via Australia, and is quoted at 2s per lb. Morton's curry powder, ex Mamari, is quoted at 12s 6d per dozen. A parcel, of English glauber salts arrived ex Mamari. A new agency line, Optimus coffee essence, made in England, has arrived on the market. An alteration has taken place in the price of brilliantshine. The current quotation is 10s 9d for small and 18s for large. The Imperial Bee Honey Company advises that it has no pats of honey left. Red Jacket tobacco has again advanced in price—to 10s per lb in bond, a parcel of Old Gold tobacco arrived during the week and went at once into retail hands. Supplies of tobacco and cigarettes are now more plentiful. Both the Port Napier and the Iceland are discharging kerosene at the Dunedin wharf. The price is 24s per case, net. Foster Clark's custard powder is again available. The quotation is 17s 3d per dozen. SOUTHLAND MARKET REPORT. (From Our Own Correspondent.) INVERCARGILL, October 16. No outside business of any description has been done during the week, as, although merchants consider the northern quotaffon of 4s 2d, f.0.b.5.i., much below value, they are unwilling to buy at this figure and equally unprepared to sell at even a shilling more. I find merchants firmly of the opinion that oats must go very considerably higher before the advent of the new crop. Even though somewhat late in the season, the demand for seed oats still continues exceptionally strong, and generally merchants are compelled to work double shifts to keep pace ■with the demand. As evidence of the opinion held locally of the value of oate, it may be mentioned that chaff is in strong demand at £7 10s per ton for prime quality. There is nothing to report in the way oi ■wholesale business in ryegrass, but the de-

mand for farmers' requirements for sowing down is decidedly good, and in more than one instance I hear of merchants' earlier purchases having been entirely deple'.ed purely by the local demand. Small lines have been offered by growers during the last fortnight and accepted by merchants who are short of stocks. There has been some inquiry from England for hemp, but very little is available for that business, while high and -good 1 fair locally command better prices than London equivalents. Prices may be stated at £32 for low fair, £34 for high fair, and £36 for good farr on trucks. OAMARU MARKETS. (Froji Our Own Correspondent.) OAMARU, October 16. Another lifeless week has been passed in the local grain and produce market, business only escaping the nil description by a couple of transactions. The oats market has gone, all to pieces, and holders are wondering what the ultimate result will be. During the week a line of heavy milling Gartons changed hands at 4s net delivered at the mill, and to-day that is pronounced the extreme value. A small line of ryecom came on the market, and found a buyer at 73 9d net at country station. Some cowgrass seed has been hawked by growers, but as these declined to accept Is 6d net on trucks no business was done. FEIESIANS AND RED POLLS. Messrs Dalgety and Company (Limited) report having held .a most successful sale on account of the Weraroa Central Development Farm on the 7th instant, when they offered the annual draft of Friesian bulls, cows, and heifers, and also three red polled bulls. A considerable amount of interest was evinced. in this sale, and a good gathering of buyers from all parts of New Zealand were in attendance. The stock came forward in excellent order and condition, the quality right through being gcod. It is. only on rare occasions that breeders of Friesiens have an opportunity of securing fashionably bred and tested- female stock, and naturally for those offered for the Central Development Farm keen competition ensued. A large number of the offering went to the South Island, one consignment going as far as Invercargill. The average for all lots offered, including yearling bulls and two-year-old heifers, was just on 61 guineas, the principal sales being as under: Friesian yearling bulls: 72gs, 65gs, 58Jgs, and 25Jgs. Red polled yearling bulls: lOlgs, and two at 35gs. The first-named bull was purchased by Mr Norman Inder (of Dannevirke). FriesiacQ cows: Top price paid was for a good quality four-year-old cow (Dominion Sadie Yale), in milk, purchased by Mr W. Be van (of Manahau) at 105 gs. ' Dominion Queen Elizabeth, lOOgs, purchased by Mr F. Burgess (Rongotea). Dominion Buttercup League (heifer), lOOgs, purchased by Mr L. Stoddart (Ashburton). Freda, 92gs, purchased by Mr T. Overton (Leeston, Canterbury). Dominion Mierlo the Second (heifer), 87gs, purchased by Messrs Gibbs Bros. (Invercargill). Dominion Imarose, 75gs, purchased by Messrs Gibbs Bros, (invercargill). Dominion Canary Duchess, 76Jgs, purchased by J. A Stevens (Invercargill). Lady (heifer), 76gs, purchased by Messrs Befkahn and Sons (Dannevirke). Dominion Julia de Kol, 82gs, purchased by Mr 'J. Burgees (Rongotea;. ; Dominion Marie Kruger, 62|gs, purchased by. J. Burgess (Rongotea). Dominion Tehee Korndyke, G2gs, purchased by C. E- Robinson (Palmerston North). Dominion Mariegold, 65£gs, purchased by E. Jones (Masterton). Dominion Manola's Pride, 61gs, purchased by T. Overton (Leeston, Canterbury). Dominion Frisby Oak (heifer), 61gs, purchased -by C. E. Robinson (Palmerston North). Dominion Aggie (heifer), 60Jgs, purchased by Gerkahn and Sons (Dannevirke). Dominion Chloe de Kol (heifer), 53gs, purchased by J. Craig (Turakina). Other prices ran from 48gs to 58gs.