COMMERCIAL

Southland Times, Issue 20013, 29 October 1926, Page 2

COMMERCIAL

FINANCE AND TRADE

LOCAL MARKETS Times Office, Thursday, October 28, 1926. GRAIN AND PRODUCE. Oats.—The oat market still continues in a dull state. It is reported from the north that “A’’ grade is down to 3/104 and ‘b" grade to 3/84 f.0.b., s.i. No business is being done by Invercargill merchants at these prices and a considerably high figure is being asked. It is doubtful if much business is, or will be done, at these figures, and any sales that have been made on that basis are probably lines which were held in store by northern merchants who considered it advisable to clean them up in order to save charges. These f.o.b si prices are higher in proportion than the prices on trucks being offered to farmers, which remain at about 3/2 for “A” grade and 2/11 for “B’s” with the usual variations. It is probable, however, that should the shipping market remain in its present state, that merchants’ offers to farmers will be reduced. Wheat.—There is practically no business being done except in local sales for fowlfeed purposes. All farmers’ holdings seem to have been absorbed by millers and merchants, and the stocks held are now exceedingly small. Australian quotations for new season’s wheat are lower than those of last year, and it is reported that offerings have been made for later delivery at from 5/9 to 5/10 f.0.b., Australian ports. The price to farmers is nominally about 7/- bushel. Chaff: The chaff market is well supplied and merchants are not keen buyers. This is partly due to the fact that northern markets are not very brisk at present, Auckland having been supplied, it is reported, with chaff from Australia, and also a shipment from Blenheim. Price to farmers for good bright quality is £4 10/on trucks, country sidings. Ryegrass.—The demand for ryegrass which set in a week or two ago has not been sustained to the extent which was expected. Merchants’ stocks were considerably reduced by sales made at that time and as there has generally been a steady drain on them for local requirements, in most cases the stocks held are light, especially for this period of the year. It is probable that the demand will again improve towards the end of the year and a demand of any proportion would quickly clear up stocks held. Prices to farmers for best quality undressed seed run up to 3/6 bushel, on trucks, country stations, with lighter and inferior lines proportionately less. Potatoes.—The market is s.till over-sup-plied and the demand is disappoint Qg. Low prices are being quoted in Canterbury for shipment north, and it is impossible for local merchants to compete against them. Prices to farmers are about £2 to £2 5/- per ton, according to the station of loading. Fruit and Vegetables.—There is a particularly keen demand in the market for citrus fruits, consequently the last shipment of oranges and lemons from Australia will soon all pass into the retailers’ hands. Further supplies are expected to reach the market by the Manuka due here early in November. Bananas are expected to arrive about November 6 and as stocks are very light, they should realise good prices. Californian grapes, Island tomatoes and Fiji pines are also due about the same time. Canadian apples are due early in the week. The demand still continues keen for Christchurch tomatoes, asparagus, cauliflowers and small Spring vegetables. Supplies of New Zealand-grown apples arc limited and what are coming forward are chiefly small-sized samples, but nevertheless are commanding ready sales. Current prices for the week are as follows:—Apples (dessert) from 5/- to 14/case; cookers to 8/6; pears (very scarce) to 6d lb; Christchurch tomatoes to 2/9 lb; asparagus from 7/- to 9/- per dozen bunches; rhubarb to 3d lb; oranges 22/to 27/6 case; lemons to 26/6; bananas, pines and grapes to arrive; cauliflowers to 12/6 dozen; cabbages 4/-; spring onions 2/- dozen bunches; lettuce to 4/- dozen; radishes 1/6 dozen ; new potatoes to 4<4 lb. STOCK MARKET. There has been a decided drop in prices for fat stock during the last week. The large number offered has been the chief reason for this. Butchers are still keen to secure good quality fat stock, but cannot cope with the number offering. There was another large yarding of fat cattle at Wallacetown on Tuesday last and, although the majority of the cattle were sold, in many cases the vendors were disappointed with the prices they obtained. Fat cows and heifers are still realising good prices but the demand is not as keen for fat bullocks. Prime light ox beef is worth from 33/6 to 35/-; heavy ox beef 30/- to 32/6; prime heifer beef 28/- to 30/-; good cow beef 25/- to 27/6; rough cow 22/6 per 1001 b. Fat wethers are still being offered steadily, but values are down about 2/- per head in this quarter. There has been scarcely any drop in prices for fat ewes. Store cattle are being offered more freely, but are not, in many cases realising the vendors’ ideas of value. Compared with the prices being secured for fat cattle, those realised by store cattle are good, but dealers and graziers are, no doubt, waiting to see if the fat cattle market will improve before buying stores too heavily. The store sheep market remains firm, but very quiet. The following is a range of prices:— Fat Cattle.—Extra prime heavy bullocks up to £l6; good butchers’ bullocks £ll to £l4 10/-; lighter sorts down to £9; extra prime heavy heifers up to £lO 10/-; prime heavy heifers £8 to £9 10/-; medium weights £6 to £8; lighter sorts down to £4 10/-; extra prime heavy cows £lO to £l2 5/-; prime heavy cows £8 10/- to £10; medium weights £6 to £8; lighter sorts down to £4. Store Cattle.—Good conditioned 3-year-old steers £8 to £10; 2-year-old steers £5 10/- to £7 17/6; 18-month-old steers £3 to £4 15/-; yearling steers £2 10/- to £3 10/-; 3-year-old heifers £3 10/- to £4 10/-, according to quality and condition; 2-year-old heifers up to £3 5/-; good breeding cows up to £5 10/-; empty cows £1 10/to £3 15/-; boners down to 20/-. Fat Sheep.—Extra prime wethers 37/6 to 39/-; prime heavy wethers 33/6 to 36/-; Good butchers’ wethers 30/- to 33/6; lighter sorts down to 27/-; prime heavy ewes up to 30/-; medium weights 25/- to 27/6. Store Sheep.—Ewe hoggets 26/- to 32/6; wether hoggets 18/- to 23/6; sound-mouth ewes (guaranteed) 31/- to 37/6; soundmouth ewes (not guaranteed), 26/- to 31/-; failing-mouth ewes 20/- to 26/-, according to quality; 2-tooth wethers up to 27/6; 4 and 6-tooth wethers 28/- to 30/-. DAIRY PRODUCE. Cheese.—During the week the cheese market has advanced slightly, spot stocks being now quoted at 84/- for white and 83/- for coloured. It is not anticipated that the market will improve very much further, and at these prices factories are selling some of their early shipments of stored cheese. Some of the returns for cheese that has been stored for some time have just come to hand and show that shrinkage this year is very considerable. This coming on top of low prices and interest charges, will mean a heavy loss to those factories which elected to store. Butter.—The butter market is again quiet although prices have risen slightly

since the last report. Present quotations for spot stocks are 144/- to 146/-. The demand is good and at the lower prices more butter seems to be going into consumption. It is just possible that the estimated quantity of butter in store in England will be used up by Christmas. MARKET REPORT. The Katoa is due to leave Auckland on Tuesday next with sugar and general cargo for this district. Latest advice from San Francisco reports an increase in price of oil bleached sultanas. New season’s sockeye salmon is very firm and.landing prices show a big increase on last season. Canadian pink salmon is reported to be very short, especially some brands. Chum salmon is also expected to advance. Sago is again restless and a further advance is expected at any moment. Singapore pineapple is very firm. Advice to hand from the New Zealand representative for Sparklets, Ltd., reports the advance of threepence per box on the retail price of B and C bulbs. CURRENT PRICES. —Wholesale.— Eggs, 1/2. Bacon, 1/34. Pollard, £lO 5/- per ton. Butter, factory 1/64, farm 1/-, separator 1/1. Bran, £8 5/-. Flour, £2O 5/-. Oatmeal, £29 to £33. —Retail.— Eggs, 1/6. Bacon, 1/7. Pollard, 12/9 per 100. Butter, factory 1/8 nett cash, 1/9 booked; farm, 1/2; separator, 1/4. Bran, 10/6 per 100. Flour.—2s’s 7/-; 50’s 13/6; 100’s 25/6; 200’s 46/6. Oatmeal, 251 b 9/6; 501 b 18/6; 1001 b 34/6; 2001 b 66/-; loose 54d lb. Cheese, 1/2; matured 1/4. Onions, 6d per lb. Potatoes, 7/6. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, October 28. Sales on ’Change: New Zealand Breweries 24/-; Auckland Electric Power Board 6 per cent. £97 10/-; Bank of New South Wales £45; Bank of New Zealand (rights) 6/3; South British 60/-; Farmers’ Cooperative Auctioneering B preference, 17/-; Lucky Shot (cont.) 9d. Wellington, October 28. Sales reported: New Zealand Government Loans 4 A Inscribed Stock (1938), £96 5/-. Christchurch, October 28. Sales reported: English, Scottish and Australian Bank £8 5/-; Howard Smith 32/6; New Zealand Drug Co. 70/3. Sales on ’Change: New Zealand Government 44 per cent. Inscribed (1939), £96 5/-; National Bank of Australasia (£5 paid cum. div.), £9 6/-; Western Australian Bank 57/-; Bank of New Zealand (rights) 6/3; Goldsbrough Mort 50/7; New Zealand Refrigerating (cont.), 6/7 (3 parcels). Dunedin, October 28. Sales on ’Change: Kawarau 2/7 (five); St. Bathans (A issue) 6/6 (three), 6/8. Sales reported: Alburnia 4/4; Bank of New Zealand (rights) 6/3. AUSTRALIAN MARKETS. * (By Telegraph—Press Assn.—Copyright.) (Rec. 8.40 p.m.) Sydney, October 28. Wheat.—There is no business in old wheat and millers’ parcels which are nominally 6/7, but a small quantity of new season’s is being purchased in the country for immediate delivery at 5/6, which is equal to 6/2 ex trucks, in Sydney. Flour for export £l4 f.0.b.; local £l5 10/-. Oats.—Tasmanian Algerian 5/-; white 5/-, 5/3. Maize.—South African 6/9. Potatoes.—Tasmanian £l4 to £2O; New Zealand £lO to £11; local £l4 to £l7; Victorian £l7 to £23.—A. and N.Z. (Rec. 8.40 p.m.) Adelaide, October 28. Wheat growers’ lots 6/-, 6/1. Parcels, nominally 6/4. Flour.—Bakers’ lots £l5. Oats, 3/-.—A. and N.Z. P. AND 0. DIVIDEND. London, October 27. The P. and O. Company has declared a year’s dividend on the deferred stock of 10 per cent., tax free. —A. & N.Z. TALLOW SALES. (Rec. 5.5 p.m.) ) London, October 27. At the tallow sales 1,139 casks were offered and 433 sold. Prices were unchanged.—A. & N.Z. Messrs Dalgety and Company, Limited, report having received the following advice