CITY TRADING

Southland Times, Issue 23674, 24 November 1938, Page 3

CITY TRADING

PRODUCE MARKETS QUIET GOOD BUSINESS IN SEEDS By'OUR COMMERCIAL EDITOR Wednesday Evening. It is . now the off-season for grain and produce. Shipping markets for most of the lines lack animation, but there is at the present time good retail trade with farmers, particularly in the seed line. Oats.—There is no improvement in the market. The demand both for milling and shipping lines is very quiet. Merchants are showing anxiety to clear their stores for the wool season and are consequently not keen buyers from farmers. Prices nominally range from 2/4 to 2/6 a bushel, according to grade and bushel weight, but very little business is taking place. Wheat.—Growers’ lines have all been disposed of and business at present' is restricted to the supply of the local poultry trade. Supplies for this purpose have been drawn from Canterbury. So far no publication has been made of the new season’s milling prices to growers. Chaff.—The market is very quiet. There is no shipping outlet and none is required for stock feed. Practically the only business is in the local retail trade, which, because of the increase in the number of motor-vehicles, is of a decreasing quantity. Ryegrass.—Stocks held by merchants will be absorbed by the farmers’ retail requirements and supplies for this purpose have been going freely from merchants’ stores. It is reported that a considerable quantity of ryegrass is being “shut off” for seed and this should come on to a bare market, so far as Invercargill is concerned. There should he a good demand for seed grown from Hawke’s Bay seed and for , certified. The demand for Southland uncertified, however, will be very limited because of the preference for certified seed, and any oversupply of this will probably react on the market. . Other Seeds.—The market for browntop is still in .rather a hopeless position as there has been no demand from overseas recently. Prices to growers for machine-dressed seed are about 1/per lb for certified and lid per lb for uncertified. The whole of the 1938 crop of Chewings fescue has now been disposed of and merchants are taking the opportunity of disposing of the remainder of their holdings of the 1937 crop, which is of doubtful germination. The market for crested dogstail remains .firm. A good overseas demand was available during the past month or two for bright coloured seed, but this has now ceased because of the advent of the winter at Home. Values to growers for bright coloured machine-dressed seed range up to ll£d per lb, and for machine-dressed stripped seed from 6d to 8d per lb. White clover is inclined to be scarce, with values to growers for machine-dressed seed ranging up to 1/3 per lb. Potatoes.—There is no further interest being taken in supplies of last season’s potatoes. Requirements for the local market are being obtained through the sale rooms at practically “gift” prices. GOOD DEMAND FOR TOMATOES There is a better tone in the fruit marts this week. Increased supplies of tomatoes have been coming in and there is a good demand at prices approximately equal to those riding for the previous week. Stocks of apples are non-existent, the few consignments that have reached the market being taken up immediately at steadily advancing prices. Small lots of cherries and strawberries are coming in, and these, of course, will increase in supply almost daily. The regular shipment of bananas, ex the Maui Pomare, arrived today, the condition generally being first class, and as these arrived to a bare market the bulk of the shipment was at once taken up by the retail trade. Small stocks of oranges are in hand and a small shipment arrives by the Maunganui next week. Vegetables are plentiful, some lines having to be cleared at minimum rates. Pineapples are expected ex the Karetu, and at the end of this week there will also be a shipment of Canadian apples, including Wine Saps and Jonathans, for which there should be a good demand. The price is expected to be between 25/- and 27/6 a case. There are still a few cases of grapes in the marts, but hardly' sufficient to cover the period before the next shipment, which will not arrive until the second week in December. New Zealand lemons are still plentiful, only choice quality being in demand. Wholesale prices are as follows:— Apples.—Best Delicious, from 13/- to 15/- a case; Sturmers, 12/6 to 14/-. , Hothouse tomatoes.—l/1 to 1/4 per lb. Cherries.—9d to 1/- per lb. Californian Grapes.—To 30/- a case. Strawberries.—l/- to 1/8 a pottle. New Zealand Lemons.—Choice, 18/a case; inferior, from 6/- to 11/-. Cauliflowers—From 5/- to 9/- a sack. Cabbages.—To 3/- a case. Lettuces.—To 2/6 a dozen. New Potatoes.—North Island, to 3d per lb. RANGE OF PRICES Wholesale Bran.—£6 a ton. Butter.—First grade, 1/1 J; second grade, 1/1J; separator, 9d for best quality. Oatmeal.—2s’s £2O a ton; 200’s £l9 a ton. Pollard.—loo’s £7 10/- a ton; 150’s . £7 5/- a ton. 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 17/6 a ton. Retail Bran.—7/6 per 1001 b. Butter.—l/4 to 1/5; separator. lOd to 1/-. Oatmeal.—s’s 1/6; 25’s 6/9. Flour.—2s’s 4/6; 50’s 8/6; 100’s 16/-. Pollard.—9/- per 1001 b. Onions. —41b for 1/-. EGG PRICES Egg prices are quoted at 1/3 to 1/4 a dozen retail, with wholesale prices at from 1/1 to 1/2. Country price, Id a dozen less. THE PRICeToF GOLD SHARP FALL IN STERLING LONDON, November 22. The price of gold is £7 8/9 an ounce. The price of gold was affected by a sharp fall in sterling as a result of a strong demand for dollars because of the uncertainty of the international situation, including the reported recalling of the German Ambassador to London (Dr Hubert von Dirksen) and the tension existing between the United States and Germany. The dollar rose to 4.67 g to the £l, which is the highest sterling value since 1933, except on September 28 (before Mr Chamberlain’s announcement that he intended visiting Herr Hitler). The dollar later became steady. There were no signs that the British exchange control was operating.