CITY TRADING

Southland Times, Issue 23406, 13 January 1938, Page 7

CITY TRADING

GRAIN AND PRODUCE BUSINESS QUIET

FRUIT MARKETS WELL SUPPLIED Oats.—Because space in the stores is fully occupied with wool at the present time there is very little interest in the oats market. The shipping market is dull and there is not much activity in the overseas business. Values to farmers are nominally from 2/- to 3/- a bushel according to quality, the latter price being for extra heavy lines of good quality oats. Wheat.—With the exception of the filling of the requirements of the local poultry trade, business in wheat has been completed for the season. Practically all farmers’ lines have been sold and merchants’ stocks cleared. Chaff—ln the absence of a shipping demand, requirements of chaff are very limited. Merchants are interested only in good quality lines for which the value to farmers is about £4 a ton on trucks country stations. Ryegrass.—This market continues firm because of the shortage of stocks and there is very little seed available for selling wholesale. With the exception of the retail trade, very little business will be done until the next season’s crop becomes available. Values to farmers for machine- dressed, seed of good quality and germination is about 4/- a bushel. Other seeds.—The browntop market is still very quiet because of the absence of an overseas demand. The value to growers for machine-dressed seed of export quality is about lOd a lb for certified and 8d to 9d for uncertified. The Chewing’s fescue crop, which is now being harvested, is reported to be very light. Merchants’ stocks of last year’s seed have all been cleared with the exception of a few lines of poor germination. The value for the incoming crop will depend on prices offering for overseas shipment when the seed becomes available. Potatoes.—Business at present is confined to the supply of the local trade from early lots. No shipping business will take place until about April or May. FRUIT IN GOOD SUPPLY Fairly heavy supplies of stone fruit have been coming forward, but so far the demand has been very good and stocks have been cleared daily. Apricots are maintaining high values and with Moorparks already coming to hand it will not be long before the season comes to a close. Later varieties of cling peaches are also being received, values for these being somewhat lower. Cherry plums appear to be finished and the main varieties will make an appearance at any time. The peak of the raspberry season seems to be past and another week or two will see the end of supplies. Supplies of tomatoes are increasing and prices this week have fallen considerably. Most of the consignments are coming from Christchurch with a few from Nelson growers. Small stocks of Sturmer apples ex cool store are still available. These should be cleared by the time new season’s apples are obtainable in quantity. The regular shipment of Samoan and Niue bananas ex the Maui Pomare reached Invercargill yesterday. These opened up in prime green condition and should last until the arrival of the next shipment in five weeks. A small shipment of Californian lemons arrived at die beginning of the week and these have all been taken up.

Vegetables have a poor demand and the market for potatoes is rather sluggish, prices falling rapidly.. Wholesale prices are quoted as follows:—

Apples.—Stunners, repacked ex cool store, 12/6 a case. Tomatoes, 7d to 9d a lb. Peaches, 2/6 to 4/- a box. Apricots, 3/6 to 5/6 a box. Plums, 2/6 to 4/- a box. Raspberries, 10/- to 12/6 a bucket Gooseberries, l|d a lb. Cucumbers, 8/- to 10/- a box. Californian lemons, to 82/6 a case. Jamaican oranges, 27/6 a case. Australian oranges, 22/6 to 26/- a case. Black currants, 3£d to 4d a lb. Cauliflowers, 8/- a sack. Potatoes, Id to a lb. Pears, 1/6 a quarter-case. Kumeras, 2|d a lb. WHOLESALE Bran.—£6 a ton. Butter.—First grade, 1/3; second grade, 1/2; separator, 9d for best quality. Oatmeal.—2s’s £27 a ton; 200’s £25 a ton. Pollard.—loo’s £7 10/- a ton; 150’s £7 5/- a ton. Flour.—2s’s 4/6; 50’s 8/6; 100’s 16/-. RETAIL Bran.—7/6 a 1001 b. Butter.—l/4J to 1/SJ; separator, lid. Flour.—2oo’s £l3 15/6 a ton; 100’s £l4 12/6 a ton; 50’s £l4 17/6 a ton; 25’s £l5 7/6 a ton. Oatmeal. —25’s 7/9; 50’s 15/3. Pollard.—9/- a 1001 b. Onions.—3lb a 1/-. New Potatoes.—6lb a 1/-. EGG PRICES Egg prices are still quoted at 1/2 a dozen wholesale and 1/5 a dozen retail. TALLOW AND HEMP The Department of Agriculture has received the following cablegram, dated January 7, 1938, from the High Commissioner for New Zealand, London:— Tallow.—Market continues quiet, values nominally unchanged. Hemp.—Manila: Market steady early this week, slightly easier at the close. “K” grade sold January/March shipments at £25. Sisal: Market quiet and nominal. Closing values January/ March shipments, £l9 10/-. New Zealand: Market is very quiet. High points January/February shipments offered at £22 15/-. Buyers are not interested. FOREIGN EXCHANGES (British Official Wireless) (Received January 12, 6.30 p.m.) RUGBY, January 11. The following mean closing rates of foreign exchange were quoted today compared with par:— Par Today Paris, fr. to S. 124.21 147 39-64 New York, dol. to £ 4.886 5.00 3-16 Montreal, dol. to £ 4.886 5.00% Milan, lira to £ 20.43 95 1-16 Copenhagen, kr. to £ 18.159 22.40 Oslo, fr. to £ 19.159 19.90 Vienna, schgs. to £ 34.585 26% Berlin, rmk. to £ 20.42 12.40% Prague, kr. to £ 34.585 142% Helsingfors, tn. to £ 103.23 226% Madrid, pesetas to £ 25.15 — Lisbon, escudos to £ 110 110% Athens, dr. to .£ 875 547% Bucharest, lei to £ 318.6 672% Belgrade, dinars 275.3? 216 Rio de Janeiro, p. to mllreis 8.892 2 21-32 Buenos Aires, p. to dol. 45.577 — Montevideo, p. to dol. 57 26 Bombay, p. to rupee 10 18% INCREASE IN WOOLWORTHS’ PROFITS LONDON, January 11. Woolworths’ profits increased by ! £657,000 to £6,490,000. The record disI tribution of 60 per cent, was mainI tainei