COMMERCIAL

Southland Times, Issue 17792, 22 July 1916, Page 4

COMMERCIAL

SOUTH!AND STOCK AND PRODUCE MARKETS. TIM KM OK Cl CIO, Friday. 2.IVK STOCK.—The demand for all classes continues strong. In fact, the very high prices ruling for a considerable time have even firmed, and it is lifficult to say where values are going to »nd. The North Is still enquiring for good ewes, and buyers from that quarter seem to have no hesitation in paying (com .33/- to 35/- for good, young v.ell-woolled sorts, the demand being more for Romney than Leicester. Wethers are also being much sought after, and even inferior quality is bringing from 27/- to 118/-. Well forward six and ©ight-toolhs have been selling as high in tlie cattle section, fat and store, enquiry remains extraordinarily firm, freezing operators buying very freely, while buteners are apparently aosorbing ipiore stuff than three or four months ago. In the lace, ot toe \ery high values for store sheep some buyers are turning their attention to young store cattle, and naturally this class of stuff has also moved up during the past few weeks. The result is that values for store cattle to-day, both forward and small, young stuff, are easily £2 per head in advance of what they were a month ago. The market, though values are on such a high level, appears quite firm, a position duo to the favourable winter we have experienced, tlie stock having done exceptionally well on tlie feed. There is no doubt now that the turnips will last right through, and it ■does not matter what sort of spring we have. Prices may be quoted as follow; FAT FATTLIv —Ox beef, 15,. to if. - per 1001b; heifer, If'- to I"/-; cow, in - to 41/-. FAT SHKEI’. — Extra prime wethers, 35-- to .'!(>/-; prime do., 3.1/- to 3 1 /-; medium, 30 - to 31/-; extra prime ewes, 35'- to 26/-; prime do., 22/- to 23/-; medium and unfinished, 1!)/- to 20/-. STORK CATTLE.—Three-year-old forward bullocks, £ll 10/. to £l3 10/-; medium sort!*, £lO to £lO 10/-; 2 Vi-year-olds, £0 ■>/- to £10; two-year-olds, £8 5/to £S 15/-; IS-months’, £6 to £6 15/-, yearlings, £1 5/- to £4 15/-; ■ calves, if 10/-. STORK SfIKKP. —Two-tooth ewes, 30/- to 31/-; four-tooth, 33/- to 34/-: six-tooth, 32/- to 32/6; eight-tooth, 27/to 28/'-; fresh failing-mouths, 19/- to 20/-: old ewes. I I/- to 15/-: mixed sex hoggets, 21 to 22/-: ewe hoggets, 23/to 24 '-: wether hoggets, 18/6 to 20/-; two-tooth wethers, 26/- to 27/-; four and six-tooth, 20 - to 31/-. OATS. —Now that tile Waihora and Waltemata have completed their loading at Rlu IT, the oat market has settled down to the quieter state of affairs entailed by a purely eoastwise demand. Nevertheless, the shipment of 80,000 sacks right out of the country lias had its effect, and has made farmers very much llrmer in their demands. Very

few oats are now offering. Merchants for the most part are not keen to operate over 2/5 on trucks for A grade Gartons, a higher price is obtainable in certain quarters. The demand from the North Island is not very brisk, buyers still pursuing a very cautious policy. CHAFF. —The chaff market is fairly firm, and prime quality is readily quittable at £3 5/- on trucks, but sellers arc not very keen to accept the price. The North Island demand is being supplied mainly from Picton, Nelson, and the Wairarapa and Rangltikei districts. /From the former ports chaff is offering at £4 15/- to £5 on board steamer, sacks included, which, taking Into account the better freight facilities from Picton, would return growers here very little over £3 5/- on trucks if selling brokers' commission and storage had to be provided for. POTATOES.— The market for table potatoes is fairly firm, although perhaps not quite so strong as last week. Growers, however, knowing that the supply is shorter than usual, are very firm, and business cannot be done with them under from £6 to £6 10/-, on trucks, whilst many growers are holding for £7, or over. ‘ It Is somewhat doubtful whether the market will go higher, as of course there is always the danger of Auckland merchants importing from Australia if prices soar too high. Buyers in tiie North Island are cautious, but are fully alive to the strength of our -market. This season Southland potatoes seem to be preferred to the* Canterbury article. Seed potatoes of all kinds are enquired for, and good samples of Up-to-Dates are readily saleable. Gamekeeper seed is not enquired for to the same extent, and is worth less money than Up-to-Date. HEMP. —The market continues firm on spot, especially for good-fair, which would command high prices for prompt delivery. Local merchants are open to enter into forward contracts on the basis of £32, on trucks, for good-fair, which, of course, is below the present London parity, but it must be remembered that with present freight difficulties a good margin is required by merchants. .RYEGRASS. —A good enquiry \ccwitinues for both Perennial and Italian ryegrass, but very little undressed seed is offering. There is a moderate enquiry for dressed seed, which is offering (wholesale) at 6/3, f.0.b., for 25/261b seed; up to 7/3 for 30/311b seed for Perennial, and at from 7/- to S/- for Italian. The importations of English ami Irish seeds are tending to keep down the market which otherwise would be very high. WHEAT.—There is a good enquiry for both milling ami fowl wheat, the latter being mainly for shipment. Very little, however, is now left in farmers’ hands. The wholesale price of flour is unchanged. CHRISTCHURCH MARKET, I (Per United Press Association.) CHRISTCHURCH, July 21. The wheat market is maintaining its firmness and few sales are taking place. Odd, lines of Tuscan are changing hands, but there is very little Hunters or Pearl coming forward, and the latter is increasing in value. There is such a scarcity of locallygrown oats that no business can be done in thorn. The demand for oatsheaf chaff is purely local. The fact that some 17.000 sacks of potatoes have gone to Auckland by the last three steamers from the South Island has lilled up that market for the time being, and no fresh business can be obtained at present. The market is therefore easier in consequence of buyers being indifferent about making purchases. A few further sales have been made at £0 at country stations during the last few days, and it is now very doubtful if the growers hope of obtaining £7 for August delivery will bo realised. SHAKE MARKET, WELLINGTON, July 21. Sales reported:—Talisman, 10/3; Taupiri Co., 13/6. (quotations: Consolidated Goldfields, sellers, .10/-; Success dredge, buyers, 3a--; Rising Sun, sellers, I/-: Cnion Steam Ship, buyers, 37/-: sellers, 37/6; ditto (preference), buyers, 21/-: Westport Coal, buyers, 28. 6. LONDON MARKETS. BANK OF ENGLAND STATEiM ENT. (By Telegraph—Press Assn.—Copyright) (Australian & N.Z. (..'able Association.) LONDON, July 20. Received July 21. 6.50 p.m. Stock of coin and bullion, £51,800,000; reserve, £30,111,000: proportion of reserve to liabilities. 27.20; notes in circulation, £36,960,000; Government securities, £58,068,000; other deposits, £86,113,000; other securities, t'SO,788,000; short loans, Iper cent.; three months’ hills, sper cent. The stock market was more cheerful on the bank rate decision being announced. Consols, £sl) 2/6; war loans, £B7 15/- and £96. COLON IA L S ECU RIT lES. New South Wales fours £B6 5/-. three and a-halfs £96 15/. and £75 2/6, threes, £23 5, -; Victorian fours, £9l; three ami a-halfs, £BS 7 6 and £7l 10/-; threes, £66; Queensland funis, £llO 7/6; three ami ahalfs, £88; threes, £66 5 -: New Zealand fours, £BB 17/6; three and a-halfs, £76; threes, £6B: South Australian three and a-halfs, £7 1: Tasmanian three and aiialfs. £73 la/-; Westraliun three and ahalfs, £75 5,-. ()tlier Stocks—Unchanged. Cnion Steam Ship of New Zealand, 57,-, having risen 20 - in ;l fortnight on rumours of absorption by the Peninsula and Orient Co.

<■ DAIRY PRODUCE, ETC. Butter—Very firm; Australian practically cleared. Choicest, 158/- to 160/-; New Zealand, 160/- to 168/-; exceptional, 170/-. It is now definitely decided that the exportation of Siberian is not permissible except possibly a small quantity late in the autumn, so that supplies henceforward will probably be short. Cheese —Recovering, the lower prices stimulating the demand. New Zealand, 88/- to 90/-. Su gar—Un ch an ged. Wheat—Quiet and with an easier tendency. Flour—Firm, no Australian offering. Barley—Steady. Oats —Quiet. Peas —Firm. New Zealand Maples, 65/- to 63/-. Beans—Firm, New Zealand, spring, 50/. to 52/-. WOOL AND SHEEPSKINS. LONDON, July 20. At the wool sales prices for greasy merinos were maintained, but scoured lots were slower of sale, prices favouring buyers. Crossbreds were irregular. The following prices were realised for the fleece portions of the New Zealand clips named:—Birch Hill, top 24d, average 21% d; Ugbrooke, top 21% d, average 20% d; Thistle, top 20d, average 18d. The Bradford market for merinos and fine crossbreds is strong, but lower grade crossbreds are weaker and business is slow. Prices: 64’s, 54d; super 60’s, 53d; common 60’s, S2d; 66’s, 40d; 50’s, 33d; 46’s, 28d; 40’s. 27d. At the feheepskin sales 3600 bundles were offered, and all were sold. As compared with the June sales, merino clothings are )4d and combings are %d higher, and ail fine crossbreds arc %d higher, while medium and coarse are 14d lower, and all lambs’ wool is % d higher. BANK RATE. •The Bank of England rate remains unchanged at 6 per cent.