OUR CANTERBURY AGRICULTURAL BUDGET.

Otago Witness, Issue 3768, 1 June 1926, Page 21

OUR CANTERBURY AGRICULTURAL BUDGET.

(From Obb Own Correspondent.; FINE BUT FROSTY WEATHER. Weather conditions in Canterbury have t?en seasonable in the past week. They have been fine, but Jack Frost has been present more or less to remind us that we are not far off the shortest day. Until this week there has been a-fair growth, and the drilling of wheat has proceeded apace as the ground has been in good order for working. This week there was a winter appearance about Addington, for the sheep in the store pens fell away considerably in numbers. It was more in accord with winter dimensions. The prices of store lambs were adjusted by buyers to what is a reasonable figure to pay for this class of stock, which will have to be carried through the winter. The forward lines were back fully 2s a head, the other classes much about that figure. Ewe lambs held in price fairly well. Right through the fattening season the price of store lambs has been high, and they are still high enough, and do not admit of any substantial profit being made from carrying them through, unless wool appreciates in price. The frosts are with us now, and buyers are accommodating themselves to winter conditions, though, when a good line of breeding ewes comes on the market, they sell readily enough. NO NORTHERN SHEEP.

It was the first occasion since early in January that there were no sheep from Gisborne in the yards. Apparently the shipping season has at last closed, but there were other shipped sheep, several consignments of lambs from the Nelson district being yarded, and they were better than the average that come from this quarter. Several pens of ewes were also yarded on account of Nelson vendors, and they went off at good prifces. The best price for a pen of ewes was a line of two-toothed Romney cross that made 335. They would have fetched about the same figure in the height of the season, so that the man that grazed them for three months practically lost the feed. Wethers were bought with more freedom than at the previous market, and the sales showed an appreciation of a shilling or two, hut there were lots that appeared good buying, compared with those of a month and six weeks earlier, when wethers were selling like hot cakea

Turnips are good crops wherever one goes over the plains, and the manner in which the old ewes are fattening and holding their condition is demonstrated by the numbers which are coming into the yards and factories. BEEF FROM THE NORTH. Two good lines of beef were forwarded this week from the Wairarapa district, and the consignees were decidedly unlucky, for they struck a bad market. In the past four weeks the average yarding has been 600 head, and this is more than is necessary, with the result that prices tumbled, and it required very good beef to touch 40s a 1001b.* One draft of 27 averaged £ls 15s a head, and another larger consignment slightly over £ls. They were splendid cattle, and were the cheapest sold all day in the first quality stuff. A pen* of splendid bullocks on account of Mr 31. RetVdl (Pahau Pastures) made £l9 2s 0d for three. A Canterbury mau, who is inclined to speculate in beef as a hobby, lately spent a week in Wanganui; but he reports that the vendors of fat cattle up there have an exalted idea of values, and he said that there was no difference between the prices paid at Addington on Wednesday and the prices asked in the north. Lamb sales are coming to an end, and each week the fact that it is the tail end of the season is emphasised, but what is particularly interesting is that the buyers disregard the schedule when buying at auction. One buyer, who secures a fair share each week, admitted that if he had had to adhere to the rates set in the schedule his purchases would have been much less than they have been. The latest schedule issued for the week ahead is as follows:

Woolly lambs—First quality to 361 b 9sd, 371 b to 421 b Bsd, 431 b to 501 b 7gd, over 501 b 7Ad; second quality to 361 b B|d, over 301 b 7fcd. Shorn lambs Id a lb less than above prices. Wethers—First quality to 561 b 6sd, 57-641 b sid, C5-721b 4Jd, over 721 b 4d; second qiAlity 4}d.

Ewes —Under 481 b 3Jd, 48-641 b 3}d, 65* 721 b 2|d, over 721 b 2*d. SLUMP IN POTATOES.

A positive debacle has developed on the potato market, rates having slumped to such an extent that the losses of many holders may be staggering. Many of them bought potatoes originally at ftbout £8 a ton, f.0.b., s.i.; to-day the

| value of prompt potatoes is in the vicinity of £5 to £5 ss.

While holders thus are in the valley of tribulation, oversellers are breathing the Tariffed air of success, for they arc able to cover with extreme profit to themselves. The present development emphasises the extreme sensitiveness of the potato market. \ It is clear that early Australian purchases produced an inflation of values well above those actually justified, and there now is an impression that the slide of values has been overdone. It may be that the bottom has not yet been reached, but men of faith are likely to be produced who will buy in the expectation that there will be some rebuilding of rates The main factor in producing the present situation has been an overshipment to Auckland. Although the Kauri arrived in Auckland over a week ago, wet weather delayed unloading its cargo of potatoes. Discharging operations, in consequence, coincided with the arrival of two more potato-laden vessels—the Katoa and Wingatui. The total cargoes comprised between 20,000 and 25,000 sacks, which represented a big oversupply, especially as Auckland locals are not set exhausted. Two other vessels soon will unload 9000 sacks, so that as a purchaser of fresh supplies Auckland can be considered as out of the running for some time —perhaps for the most of June.

Rates on the market are very uneven, but for June values appear to centre upon £5 5s to £5 7s 6d and for July from £6 to £6 ss. For July-September quotations range from £6 15s to £7. Unfortunately it looks as if the Waikouaiti will bring an oversupply to Sydney, for it carries 39,300 sacks. The Kaiwstere will leave on Tuesday with a further shipment. Naturally, Australian operators are alive to the situation, and have withdrawn the old scale of prices.

It is hard to estimate the extent of the yield. The heavy deliveries from the country have been caused mostly by the temptation of good prices and the opportunity, owing to the fine weather, to carry out digging operations on a general scale. Merchants now offer growers £3 15s on trucks, but whether there will be any general acceptance of this price, or whether producers will go to the expense of pitting their supplies in the hope of a rise is a matter of diverse opinions. _ .

THE AND PRODUCE MARKETS. Friday evening. According to figures compiled privately, exports oi wheat from Australia since December 1 to May 15 aggregated 38,507,852 bushels, compared with 74,890.087 bushels for the corresponding period in 1924-25. Victorian shipments show a notable lullingoff, and at 7,052,626 bushels contrast with 23,014,567 bushels Substantial decreases are also disclosed in exports from New South Wales and South Australia, but a gain is shown in regarcf to Western Australia. On the other hand, exports of flour for the period have largely exceeded those of the preceding season, and aggregated 215,553 tons of 20301 b, which, expressed in wheat, represents 10.346,544 bushels.s Victoria s share of the flour trade was 67,456 tons, New South Wales 69.418 tons, Western Australia 47,584 tons, and South Australia 31,095 tons. Wheat shipments compare with those of 1924-25 as under:

LOCAL MARKETS. The local milling wheat market continues quiet, and odd lots only are changing hands. Local millers have reduced their buying limits to the prices arranged at the conference of millers held at Christchurch some months ago. On the other hand, northern millers are still prepared to pay more than these fixed prices* Merchants in Oamaru, Timaru, and Christchurch are shipping lines to the North Island, but the importations of flour from Australia are still restricting the demand for wheat from the north. Millers' prices for flour remain unchanged ns follows: —2oolb, £lB 10s: 100’s, £l9 10«: 50’s. £2O 2s 6d: 25’s, £2O lOs. Bran, £3 10s per ton. Pollard, £9 10s. Oatmeal, 25’s, £25; 200’s, £24. The oat market remains stagnant. Growers are anxiously waiting for a spell of drying weather to enable them to get their oats into stack, but it is quite apparent that some of them will have to leave their stooks in the fields. There is no demand from the North Island, where merchants are well supplied with Canadian osti. In some cases the purchasers of Canadians have had to accept low rates to clear, and

the transactions have shown them a loss. The nominal quotation for A Cartons is 4s 7 d f.0.b., s.i., with B’s at 4s. The few sales that are being recorded, however, are taking place at Id per bushel below these figures. The quotation on trucks, country sidings, is 3s 3d and 3s for A’s and B's respectively* Supplies of chaff from Australia are keeping the North Island going in the meantime Still, a few sales of good bright chaff have been made during tne past few weeks for shipment on the basis of £7 10s f.0.b., s.i. The quotation, ex store, is £6 for best quality. There is nothing, however, very brisk about the chaff market. Owing to the absence of demand from Au.«tralia for further supplies of potatoes, the market for both prompt and later delivery has eased appreciably during the week. Canterbury merchants are now showing a desire to get rid of their stocks Shipments are still being made to Australia in fulfilment of contracts made some time ago. The local market is steady at about £7 per ton, ex truck, for best quality Taieri and Sterling grown. Poor quality is slow of sale. Current wholesale prices for produce lines are as follows: Chaff, £6 per ton. Potatoes. £6 15s to £7. Dairy Butter.—Best milled hulk Is 4d per Ih, according to quality; separator pats, Is 3d. Eggs.-Stamped, 2s 9d; case, 2s 7d; preserved. Is 9d. Bacon.—Roll, Is 3d per lb. Hama, Is 3d per ib: bonder. Is 4d. Canterbury onions, 16s to 17s per cwt. FRUIT REa Dessert apples are coming forward from Otago Central, Nelson, and Marlborough. Choice fruit only is inquired for. Good green cookers have a sound inquiry. Supplies of choice dessert pears are slackening off, and the market is inclined to firm. A large proportion of the consignments is in poor condition. A fair sized shipment of Fiji bananas was on board the Kurow. r lhese were transhipped from the Tofua at Auckland A quantity of the bananas arrived in a ripe condition and met a fair sale only. A small lot of Fiji bananas is expected to arrive this afternoon (Friday). These were railed from Auckland to Wellington, and then shipped to Dunedin. The fruit has been some time on the journey. Outside grown tomatoes are just about finished. A small lot of hot-house grown, from Sawyers Bay* brought up to Is lid per lb. Local grown grapes have a sound inquiry. A fairly heavy shipment of New South Wales grown grapes is expected to arrive next week. Supplies of lemons and oranges are scarce. Auckland-grown lemons are expected next week. There is, however, no shipment of oranges in sight so far. Current wholesale prices are as follow: Bananas.—Ripe, 25s to 30s. Apples.—Cox's Orange: Choice, 10s 6d per case, medium, 6s to 7s; Jonathans, 6s 6d to 7s 6d for prime; Slurmers, 7s 6d to 8s 6d; cookers, 4s 6d to 5s 6d. Oranges.—lsland, 17s; Italian, 21s 6d to 22s 6d Lemons. —Auckland, 22s 6d to 255. Tomatoes.—Christchurch, choice, 4d to sd; Central, sd; seconds, 2d to 3d; local hothouse. Is to Is 9d per lb. Grapes, to 2s 7d per lb. Pears. —Dessert, prime, lgd to 2d per lb; cooking, l£d. Peas. 3d. Rhubarb, 2d to 3d per lb. Cabbages.—Choice, Is 6d to 3s per sac*; of two dozen; others, unsaleable * Cauliflowers, 6s to 8s per sack containing a dozen (choice only), others, 3s t,o ss. Celery. 4d to 6d per bunch of four sticks.. Lettuce. —Choice Is per dozen. White turnips, Is per dozen bunches. Parsnips, 8s 6d per cwt. Carrots. 7s 6d per cwt. Potatoes. 7s 6d to 8s 6d per cw t. Swedes, 4s to 5s per cwt Marrows, 8s 6d per cwt. Pumpkins. 10s per cwt. MERCHANDISE MARKET. It is understood that the next consignment of sugar for this market will arrive by the Wingatui, which is due here shortly. She will be followed by the Kurow. A parcel of haricot beans has just been landed on a bare market at an increased pric'd. The price of kerosene lias been advanced by Is per case. An increase in the price of petrol, amounting to Is per eight gallons of bulk petrol, is also announced. Glaxova, a new product of the Glaxo Company, is now being quoted at the following prices:—7oz packages, 19s 6d per dozen ; IGoz, 80s per dozen. The Ruapehu, from London, landed a number of oilmen's stores that were in short supply. The Port Napier, which is now at Port Chalmers, has also numerous lines that have been short on the market. A new disinfecting fluid, Restar brand, Is now being quoted as follows: —6oz bottles. 10s per dozen: one-gallon size, 60s per dozen : four-gallon tins, 4s per gallon. The Manuka, which Is due from Melbourne on Tuesday, is bringing further supplies of MHdura sultanas and currants. The Karetu, from Melbourne and other ports, is carrying similar consignments.

1924-25. 1925-26. Bushels. Bushels. South Australia .. 18.391,972 13,880.347 Victoria .. 23,814,567 7,052,626 New South Wales .. 22,045,166 8,095,215 Western Australia .. 10,638,382 9,279,644 Total .. 74,890,087 33,307,832