COMMERCIAL

Southland Times, Issue 19509, 8 May 1922, Page 2

COMMERCIAL

DUNEDIN MARKETS. DUNEDIN, May «. Samples of wheat are still arriving from the south, but all sprouted lines are nnaale* able to millers. A fair quantity of this wheat has, however, been sold for fowl feed at prices ranging from 3/10 to 4/- on trucks, country sidings. Millers are refusing to buy any but the best class of wheat, as there are plentiful supplies of sound cereal in Canterbury to meet their requirements. These supplies of sound milling are expected to be sufficient to keep millers going the whole season. The demand for fowl wheat from the North Island » weak. It is reported that there are forward sellers for spread delivery right throughout the season at 4/6, f.0.b., sacks extra. Milling Wheat (new season’s) .—According to Government prices: Tuscan 5/6£ f.0.b., Hunter’s 5/o|, Pearl 6/3|. Dunedin millers’ prices are as follow: Flour, 2001 b, £lB per ton; 100’s, £l9; 50’s, £l9 10/-; 26’s, £2O. Bran, £5 per ton. Pollard, £9. Oatmeal, 200’s, £l9; other quantities, £2O. Pollard has been advanced in price from £8 10/- to £9. The breaking of the drought in Australia has caused those Australian merchants who bought New Zealand oats early in the season to offer back their purchases. This has had a weakening effect on the local market, as A grade have been offered at 3/2 f.0.b., s.i., and B’s at 3/-. New Zealand merchants are unable to compete with these prices, and the position is made all the more difficult because growers are disinclined to accept the low prices which would enable merchants to quote against these of-fered-back oats. The lowest quotations by Dunedin. merchants are about 3/3 for A grade, f.0.b., s.i., and 3/1 for B’s. The prices being offered to farmers are 2/5 on trucks for .B grade and 2/7 for A’s. Millers in some cases are paying more than the above figures, and their purchases practically complete the business passing in oats so far as Dunedin is concerned. Consignments Of chaff are still coming to hand, and as the demand from feeders is poor it is difficult to maintain present prices at £4 15/- per ton, sacks extra, ex truck, for the best quality. Poor and medium chaff is at present unsaleable, and any fines of this quality are being put into store in the meantime. The rush of potato digging is now over, and only small consignments are coming to hand. There are, however, sufficient stocks in store to meet the demand for the next two months. Most of the potatoes are showing signs of disease, and these are hard to quit. The best quality potatoes are worth today £4 15/- per ton, sacks included, ex truck. The market for ether lines of produce remain unchanged. Current wholesale prices are as follow: Chaff.—Good quality, £4 15/-; medium and light, slow of sale. Potatoes, £4 15/- per ton. Eggs—Stamped, 2/9; plain, 2/7 to 2/8; preserved, 1/10 to 1/11. Dairy Butter—Pats, l/3£; milled, 1/4. Onions—Canterbury, 8/- per cwt. Bacon—Rolls, 1/1 per lb; sides, 1/-. Hams—l/li. TfMARU MARKETS. UMARU, May 5. To date about 60,000 sacks of wheat have been stored at Lyttelton on account of the Government, who have bought it for export. Rejections have been very numerous, and approximately half a million bushels of rejected wheat lie on owners’ account at Lyttelton. What this wheat will ultimately be sold at is a problem which has not yet been solved. Compared with Lyttelton there is nothing like the same proportion of rejected wheat in Timaru Scores. The position in Timaru is that although lines which are not exactly prime are hard to sell, they are being worked off gradually, while prime milling meets with a ready sale. Notwithstanding the large quantity of fowl wheat available it is in keen demand for forward delivery at the ruling price of 4/6, f.0.b., sacks extra. If ail the unaccepted wheat in Canterbury is eventually sold for fowl wheat, in addition to practically the whole of the crop in Otago and Southland, it is difficult to see how prices can be maintained. Reports regarding the southern crop, however, are contradictory. Some aver that the damage is not so great as was anticipated, while others cannot see how wheat which was so king exjiosed to the rain can ever be of milling quality. Millers may pick the best of it when, it becomes available, but it is feared that most of it will only be fit for fowl feed.

Oats are very dull, and values have eased during the week to the extent of a penny tb twopence per bushel in sympathy with quotations from further south. A grade Uartons are quoted to-day at 2/8 to 2/9, and B’s at 2/6, on truck, and prime heavy Duns are wortli 3/- to 3/3, and are in keen demand. Only feed quality Algerians are offering, though good seed lines would command a ready sale.

Growers are not anxious to sell chaff at the ruling value of £3 10/-, on trucks, sacks extra, for good bright quality. The market for peas continues uncertain, values fluctuating weekly according to advices received from London. At present f.a.q. are worth 7/-, and No. I’s 7/6, on trucks, sacks extra.

The linseed crop is very slow in coming on to the market. One or two lines here have been sold at £l2 to £l3 per ton, on trucks, sacks extra. Growers will not entertain forward sales, but prefer to wait and see the value when the crop is threshed.

Grass seeds are in good demand. Clover is expected to be offering shortly, and the price promises to be a remunerative one. It is impossible yet to estimate the yield. Heavy consignments of potatoes to practically all North Island ports are interfering with f.o.b. sales. Ruling quotations are 85/- to 90/ . f.0.b., for May delivery, equal to about £3 10/- on trucks, sacks in. Orders that are being received are very small, and not at all in conformity with expectations of what the demand would be when consumption was at its height. The crops are digging out well, but many are effected by rust or bro\.a spot. There are few buyers, and only those who have over sold are in a position to operate. HIGH COMMISSIONER’S CABLE. The Department of Agriculture has received the following cablegram dated May 3, from the High Commissioner for New Zealand, London:—■ Wool sales opened firm with large attendance and keen competition from Home and Continental trade. Super greasy Merinos ruled about 5 per cent, dearer than closing rates March series, other sorts Merinos 10 per cent, dearer. Fine crossbred advanced 10 per cent., and while best medium were unchanged, ordinary and inferior medium crossbred ruled 10 per cent, to 15 per cent., say jfd per lb, higher. Coarse offerings were small and show advance of about 7} per cent., say }d per lb. Scoured and slipe crossbred 5 per cent, dearer. This week B.A.W.R.A. offerings will consist of:—Australian: Merino greasy 3200 bales, scoured 2100 1 bales; crossbred greasy 1100 bales, scoured 500 bales. New Zealand: Crossbred greasy 3500 bales, scoured 1200 bales, slipe 1460 bales. Cape: 4200 bales. AUCKLAND STOCK EXCHANGE. Per United Press Association,) AUCKLAND, May 5. Sales: War Loan 1927, 95; Soldiers’ Bonds, 98-1; Soldiers’ Inscribed 984; Union Bank £l2 18/- and £l2 18/6; New - Zealand Insurance, 28/9; South British, 35/-; Wilson’s Cement 17/6; Waihi, 23/-.

THE ENGLISH MARKETS. (By Telegraph—Pre* Aesn.—Copyright.) (Australian and N.Z. Cable Association.) LONDON, May 5. (Received May 7, 5.5 p.m.) Cargoes are quiet, but there is & firm undertone owing to large sales to Germany from Antwerp and Rotterdam. Parcels declined sixpence. Australian parcels on passage to Liverpool 57/6. Sheep.—Canterbury light Bfid, medium Bd, North Island 7fd and 7sd, Australian first 6fjd, seconds 64d, South American light 74d, heavy 6£d; ewes, 6d. Lamb*—Canterbury light and medium llgd, seconds North Island selected llid, ordinary 10|d, Australian best 10d, fair 9fd, inferior 9jd, South American light 9id, heavy 9d. Frozen Beef—Argentine fores 3|d, hinds sd; chilled Argentine fores 4jd, hinds 7<d, Uruguay fores 4d, hinds 7d; others unchanged. Apples are dull owing to large supplies. Cotton, June shipment, 10.75 d. Rubber, Para IOJd, plantation smoked B|d. Hemp is weak. May-July shipment, £29 per ton. Jute, May-June shipment, £3() 5/- per ton. Copra, April-June shipment, £23 15/-. Linseed oil, £44 10/- per ton; turpentine, 88/9 per cwt. ADELAIDE WOOL SALES. ADELAIDE, May 8. Practically the whole catalogue of 22,500 bales was sold to Bradford and American buyers at prices showing a distinct advance on rates at the previous wool sales. Competition was keen throughout. LONDON WOOL SALES. LONDON, May 5. At the wool sales there was a large offering of Merinos, including super Geelong, and strong general competition. Price* all round were 5 per cent, above the opening rates, the most market advance being in average topmaking sorts.