COMMERCIAL

Southland Times, Issue 19770, 19 February 1923, Page 2

COMMERCIAL

DUNEDIN MARKETS. I DUNEDIN, February 17. ; The market for the new season’s milling I wheat has opened in Canterbury on a basis •of 4/6 per bushel, sacks extra, on trucks, '■ and, according to advices, a fair amount of : wheat has changed hands at this figure. It | would, therefore, appear that farmers are ■ not optimistic in regard to the attempt of I the New Zealand Faimers’ Union to get the Government to agree to a minimum i price of 5/6 per bushel, free on board at the ■ nearest port. The Government commanj deer on wheat, which has now been in force for some years, will cease at the end of this month. This commandeer applies only to j old season's wheat, and the Government will j have a fair quantity of the wheat left on | its hands. What the Government will do i with its holding, which was purchased at a ! price considerably above that ruling for the new season’s milling wheat, remains to be

As regards locally-grown wheat, sales of Taieri-grown have been made at 4/6, on trucks, country sidings. The Government statistics state that the wheat crop last year totalled 10,500,000 bushels, and that the estimate this year is 8,500,000 bushels. The area under crop this season is less than that of last year. This season’s estimated return, however, is more than sufficient for New Zealand’s requirements, and, moreover, there is a fairly heavy carry-over from last season, both by the Government and those growers whose wheat the Government, would not accept as fit for milling. This lower-grade wheat can, after the end of February, be offered as milling, and no doubt a fair quantity of it will be taken by millers for mixing with the better quality cereal. v Buyers are holding off the fowl-wheat market in anticipation of lower prices when more of the new season’s wheat is available. Sellers are asking 4/6, f.0.b., sacks extra, but no sales are being effected at this figure. The quality of the new season's wheat on the South Otago farms appears to be very good, and if the weather continues favourable it should be got in in sound order. Southern growers anticipate that they will reap heavier crops this season than last season. Reports from Canterbury also state that the samples of the new wheat are of good quality, with the exception of a few lines which are showing signs of being affected by the wet weather. Dunedin millers’ prices are as follows: Flour: 2001 b, £l5 10/- per ton; 100’s, £l6 10/-; 50’s, £l7; 25’s, £l7 10/-. Bran, £5 10/- per ton. Pollard, £B. Oatmeal, 25’s, £18; 200’s, £l7.

The oat market is quiet, following on an absence of demand from the A.I. and Australia. Holders, however, are firm in their demands, and the present quotation is 3/5, f.0.b., s.i., for A Gartons and 3/3 for B’s. These prices are equivalent to 2/8, sacks extra, on trucks, country sidings, for A’s, and 2/6 for B’s. Forward sellers are still on the market at 3/2, f.0.b., s.i., spread delivery, April to September, but buyers are not responding. They are only prepared to pay round about 3/- per bushel for this class of business.

Business has been very brisk in. ryegrass seed, and the price of good machine-dressed has advanced, 281 b seed now being worth 6/- per bushel. Lines of good farmers’ dressed have been sold in Canterbury at prices ranging from 4/- to 4/9, sacks extra, on trucks.

The chaff market is firm at £5 per ton, sacks extra, delivered in Dunedin. Very little good quality, however, is available, most of the consignments being undergrade. This quality is selling at £4 to £4 10/-, sacks extra, ex truck, Dunedin. The present Blenheim quotation is £6 10/- per ton, f.oi)., s.i., for shipment to Auckland. Blenheim merchants, however, are refusing to quote forward.

The forward quotation for potatoes is slightly lower. Small business has been done at £4 5/- per ton, f.o.bAi., for f.a.q. quality, April, May, June shipmeat. The local market is recovering slightly, sound quality being worth to-day up to about £6 15/- per ton. Blight has affected the shaws on the Taieri, but it is noticeable that the tubers have not so far sustained any material damage. The disease may, however, develop if the tubers are not quickly dug and placed on the market.

Eggs have advanced in price. Dairy butter continues firm in price. Canterbury onions are quoted at 9/. per cwt.

At Friday's hide sale there was a full attendance of buyers. Competition for all good-conditioned descriptions was very keen, and prices for these sorts advanced from to fd per lb over last sales’ prices. Sloppy and inferior quality had rather less attention and barely maintained late rates. The bulk of the offering was taken by tanners, shippers being practically out of the market at present.

SOUTH CANTERBURY MARKETS. TIMARU, February 16. New wheat is commencing to offer fairly freely. As a result of the satisfactory weather conditions which have obtained during the past ten days, threshing from stock and stack is now fairly general. The wheat is coming on to the market in moderately good condition, though many samples of Tuscan show signs of having sprouted before the crops were cut, this having happened while the grain was standing ripe and the ground, was too wet for the reaper to travel over it. The value of Tuscan to-day is 4/6, red chaff 4/7 to 4/8, and velvet 4/9 to 4/10 on trucks, country stations, sacks extra. Farmers are dubious about selling at present owing to the possibility of an arrangement being come to for prices of a payable nature for the season. The prices now ruling are inadequate, and as the tendency of the market is towards weakness, there is very little encouragement to sow wheat for next season. The yields so far recorded are quite satisfactory and exceed anticipations, some of the crops having yielded between 60 and 70 bushels to the acre, though the average may be said to be between 30 and 35 bushels. Millers both here and in the North Island are not displaying much interest in the market, being content to secure a few early lots for mixing. Oats are. offering far more freely than was expected. For the most part the crops are very satisfactory, but unfortunately in many parts of the district where binders were unable to work owing to the frequent rain, severe damage has been caused by nor’-west winds, which have rendered some crops quite worthless. The value of B grade Gartons to-day is 2/8, while A’s are worth 2/10.

As an unprecedented demand for chaff has set in from the North Island, it is likely that a good many oats will be chaffed instead of threshed. Chaff is worth £4 5/to £4 10/- per ton on trucks for good bright quality, and this is above the parity of oats. Barley is not offering to any great extent. Sales have been made at 4/- to 4/6 on trucks. The reduction in the freight on peas has unfortunately been coincident with a severe drop in prices in the United Kingdom, with a resultant fall here. Whether the drop in London is merely of a temporary nature remains to be seen, but it is hoped that such will prove to be the case. At present it is practically impossible to get any offers for export. Nominally the value to-day is 6/for f.a.q.’s, and 3d more for No. I’s. The linseed crops are coming on well, but most of the business which is being done is between speculators. Round about £l6 per ton f.0.b., s.i., is being offered, equal to about £l4 on trucks country stations. If the yield comes up to present expectations, a satisfactory return to growers is practically assured. Sydney operators are not evincing any interest in the market here, a large cargo of Argentine linseed having been contracted for by Sydney buyers. Ryegrass is very firm, but stocks are almost nil, and no quotation can be given. White and red clovers are not yet offering. These crops are expected to be later than usual this season.

A tour of inspection of the potato crops in South Canterbury shows that the tubers are already devoid of leaves in a great many cases. This state of affairs at such an early stage is not the result of natural decay, but it is too early yet to say to what extent the yield will be affected. Whereas in the ordinary course of events potatoes would be in full flower now, the crops at present make a sorry spectacle. There is no digging going on, and there is no demand from the North Island. Under the circumstances, no reliable quotation can be given. THE LAMB MARKET. HIGH PRICES AT SMITHFIELD. (Per United Press Association). WELLINGTON, February 17. The New Zealand Meat Producers’ Board to-day received a cable from London advising the sale of North Island lamb on hooks at Smithfield at 13d per lb and Down lambs at 14d. PORTS OF THE DOMINION. THE POSITION OF BLUFF. The Wellington Progress League publishes the returns of the goods shipped from the principal New Zealand ports, as follows : £ Wellington .. .. 11,842,144 Auckland 9,595,225 Lyttelton 5,034.968 Napier 2,577/31 Dunedin 2,442,453 Bluff 2.392,770 Timaru 2,285,747 Gisborne 1,939,140 ' Wanganui .. .. 1,547,243 New r Plymouth .. 1,038,469 Picton 416,617 Nelson 302,205 Greymouth .. .. 191,699 Patea 160,336 The exports from the North Island fell off by £2,712,000, but those of the South Island increased by £600,000. The League suggests that the annual productivity of each district should also be shown in a yearly return.

BUTTER AND CHEESE. Messrs Dalgety & Co., Ltd., report having received the following advice from its head office, London, under date February 15: —Butter —The market is firm; imports of butter into the United Kingdom for the month of January, 1923, 501,000 cwt, and for the Corresponding period, 1922, were 481,000 cwt. We quote New Zealand salted at 117/-, Australian g.a.q. IC/6-. Danish 128/-, finest Australian 112/- salted, 114/unsalted. Cheese.—The market is firm; New Zealand white 126/-, coloured 128/-. SHIPMENT OF AUSTRALIAN MERINOS. NEARLY 800 HEAD FOR NEW ZEALAND. Messrs Wright, Stephenson and Co., Ltd., have just received cable advice that the Canadian Planter has sailed from Adelaide, South Australia, direct to New Zealand, with a record shipment of purebred merino sheep. The Canadian Planter is due at Bluff on February 23, and will discharge the sheep at that port and at Dunedin, Lyttelton, and Wellington (for Marlborough breeders). These sheep were purchased in November and December last through Wright, Stephenson and Co.’s Stud Stock Department from the well-known Lucernedale breeders, Messrs Henry Collins & Co., Ltd., Mt Bryan, S.A., and no doubt in view of the record prices since ruling for merino wool, the purchasers are congratulating themselves on their enterprise.

At the last Wellington sale, merino wool touched the record price of 29:}d, and subsequently this price was beaten at the Christchurch sale, when 294 d was paid. Last week cable advice was also received that at the Melbourne sales merino wool made the wonderful price of 3/04. In view of the value of merino wool this shipment of Australian merinos should, therefore, prove a very valuable asset. These sheep are to be distributed from Southland to Marlborough, and in addition to 478 rams, 182 stud ewes are also being forwarded. The highest price paid for a stud ram was 500 gns. In addition 120 rams are being sent for sale on consignment, and breeders in New Zealand will have the opportunity of inspecting also one of the famous high-priced rams for which the Lucernedale stud is famous (it has sold rams at 4000 guineas and 4100 guineas—both world’s records). This is a ram valued at 1000 guineas, which is being sent over on exhibition by Mr Collins, but some enterprising local breeder may succeed in purchasing it. The total value of the shipment is, approximately, £9OOO. In addition, Mr Henry Collins, who is one of the best known sheepdog breeders in Australia (he has won the famous Sydney Championship Trials on no fewer than four occasions) is consigning a number of his dogs to breeders here. The stock will be viewed with great interest when it arrives in New Zealand waters. Mr Collins is coming across also to see that safe delivery is given STOCK EXCHANGE. DUNEDIN, February 17. Sales on ’Change: Bank of New Zealand, 57/-; Westport-Stockton, ord., 4/-; Mount Lyell. 23/1. Sale reported: Sharland and Co., 21/9.