OTAGO PRODUCE MARKETS

Southland Times, Issue 24106, 20 April 1940, Page 3

OTAGO PRODUCE MARKETS

Smaller Offerings Of Wheat INCREASE IN VALUE OF OATS (United Press Association) DUNEDIN, April 19. Offerings of wheat from the country are now diminishing, as the bulk of the grain has now been harvested. Occasional lines threshed from the stack are coming on to the market and these are being readily snapped up by millers. Odd lots of wheat threshed from the stook are also being received, but the quality is not good enough for millers.

The fowl wheat market remains unchanged. The local distributors still have a fair quantity of last season’s wheat on hand, and so far no great quantities of the new season’s wheat have appeared on the market for poultry purposes. Occasional lines sold have made 5/3 a bushel, sacks extra, delivered in Dunedin, for good sound quality. The market for oats continues firm. Supplies are not plentiful and millers and buyers in Canterbury have been operating sufficiently to cause an increase in value. Inquiries have also been received for shipment on the basis of 4/6 a bushel, f.0.b.5.i., for A Gartons and 4/3, f.o.b.s.i. for B’s. The equivalent prices in the country are 3/7, sacks extra, for A’s and 3/4 for B’s. These prices are being exceeded, however, for heavy lines suitable for milling or seed purposes. In sympathy with oats, chaff has firmed during the week. Supplies are on the short side, but. on the other hand, there is no very great demand. The present quotations for best oaten sheaf chaff are on the basis of £6 a ton, sacks extra, with small lots selling ex store at £6/10/— a ton, sacks extra.

POTATO MARKET UNCHANGED Both merchants and growers are holding off the potato market in the hope that the export demand will develop. There has been no alteration in the market during the week and further movement would seem to depend on the possibility of a shipment to Australia. Supplies from the country have been increasing in this district, as the farmers have now started digging. Tlie present value of Arran Chief is from £4/10/- to £5 a ton, sacks included, with King Edwards at a premium of £1 a ton more. It is reported that blight has appeared in some crops and it is expected that this will affect some of the yields. The strength of the market for several classes of seeds seems to depend on the development of an export inquiry. All markets continue firm, with very few samples on the market. Both certified and ordinary ryegrass, with good germination, command a high price. Cocksfoot has firmed in value during the week, mainly as a result of the cessation of supplies from Denmark. White clover is still firm and it is anticipated that this seed also will be required for export. Other clovers, such as Montgomery Red and Cowgrass, are firm, with Cowgrass being purchased from Canterbury and Marlborough. Dogstail is the only seed which is selling below last season’s parity, the reason being the heavy crop and the fact that a substantial quantity is still in growers’ hands.

APPLES IN HEAVY SUPPLY Very quiet conditions were experienced in the local fruit marts during the past week, and prices were weak for several lines. Apples are in heavy supply at the present time, but sales during the week have been disappointing. Buyers had stocked up very heavily during the preceding week and sales are not likely to improve appreciably until those stocks are exhausted. Only small lots of pears have been on offer and the demand is now brighter. Tomatoes have been offering in small lots only, and choice lines have been realizing high prices. Vegetables of all descriptions have been offering freely, but prices have been at a level that cannot show a margin of profit for the growers.

CHIEF INTEREST IN POTATO PROSPECTS CANTERBURY GROWERS NOT ANXIOUS TO SELL (United Press Association) CHRISTCHURCH, April 19. The chief interest in the grain and produce markets continues to be in potato prospects. Because of the political situation in Australia and the experience of previous seasons, chances of the embargo being lifted are not generally rated very highly, but the announcement of the Federal Government’s decision is keenly awaited. The fluctuations in the Sydney price of Tasmanian potatoes are attributed to the coal strike and the consequent interference with the continuity of supplies. Advices from the North Island indicate that it will be some time before many Canterbury potatoes are required there, but a little more inquiry for prompt delivery was reported yesterday, quotation being £3/5/- to £3/10/-. Growers generally are not anxious to sell. To avoid the trouble which has occurred at the port of shipment in other seasons, the growers are reminded that their sacks should contain not more than 100 pounds. Some trucks were sent back from Lyttelton last season because they were overweight. Growers are also .asked to be careful to use only good quality sacks. White clover is practically finished for the season and threshing of cowgrass has been held up by rain this week. Few lots have yet appeared on the market. Cocksfoot is firm, without any alteration in prices and chaff and onions are maintaining their recent firmer rates. Other markets are unchanged.

SMALL ENTRY OF SHEEP FIRM MARKET FOR ALL LINES AT OTAUTAU A small entry of 2177 sheep was forward for the Otautau sale, the bulk of the yarding being in only fair condition. There was quite a good attendance of buyers and farmers from the surrounding district, and the market was firm for all classes of sheep. Medium two-tooth ewes made up to 33/2, full-mouth ewes 18/- to 20/6, and full and failing-mouth ewes 12/- to 14/6. Medium Romney ewe lambs sold from 22/- to 23/6 and smaller from 18/6 to £l. There was a large entry of rams, these being hard to quit, and the bulk of the offering was passed. The Southland Farmers’ Co-operative Association sold:—Sixty ewe lambs at 23/4, 60 4, 6 and 8-th ewes at 23/-, 139 s.m. ewes at 19/-, 51 f. and f. ewes at 17/5, 70 f.m. ewes at 18/4, 2 Southdown rams at 3gns, 1 Romney ram at 4gns, 1 at 4gns,.l ram at 15/-, 3 at 9/-, 2 at 8/-. 5 nigs at 12/-, and 1 at 10/-. Wright, Stephenson and Co., Ltd., sold:—s7 2-th ewes at 31/3, 11 (small) at 21/-, 123 f. and f. ewes at 11/-, 5 wethers at 23/-, 15 at 26/-, 1 at 18/-, 1

Southdown ram at 3gns, 1 at 21gns, 2 (aged) at 22/-, 1 Romney ram at 3gns, and 1 Border Leicester ram at 5/-. The New Zealand Loan and Mercantile Agency Co., Ltd., sold:—Sixtytwo ewe lambs at 9/3 J. R. Mills and Son sold:—Eleven 2-th ewes at 22/-, 79 s.m. ewes at 28/6, 15 ewes at 8/1 and 19 at 13/3. The National Mortgage and Agency Co., sold:—Seventy-two ewes • at 16/4, 99 at 15/-, 120 at 18/10, 78 at 20/6, 34 at 11/9, 14 at 10/6, 99 2-th ewes at 33/2, and 60 ewe lambs at 23/8. Dalgety and Co., Ltd., sold: —Thirty lambs at 7/2, 100 ewe lambs at 22/3, 192 ewes at 22/6, 2 pigs at 14/-, 4 at 13/-; 150 posts at £4/12/6, 5 strainers at 10/6, 3 at 6/6, 2 at 3/- and 3 stays at 3/6. COMPANY NEWS DALGETY’S DIVIDEND (United Press Association) WELLINGTON, April 19. The New Zealand superintendent of Dalgety and Company has received cabled advice that the directors have declared an interim dividend of 3/- a share, less British income tax, payable on May 16. COMPANY DIVIDENDS (United Press Association) WELLINGTON, April 19. The directors of New Zealand Malay Rubber have decided to pay a dividend of 4 p.c. on all shares, both preference and ordinary, on May 8. The directors of the National Bank of Australasia have decided, subject to audit, to recommend a dividend of 6 per cent, per annum on both classes of shares for the half-year ended March 31. STOCK INDICES (Received April 19, 6.30 p.m.) LONDON, April 18. Stock Indices Compiled by The Financial

NEW YORK Dow Jones Averages 1926 = 100

MINING QUOTATIONS IN LONDON (Received April 19, 6.30 p.m.) LONDON, April 18. Mining quotations are as follows:— £ s fl Mount Lyell ~ 14 6 New Guinea . > ' ~ . 1 xi’A

Times Octover 15, 1926 a 100 Govt. Securities Home Rails Industrials Gold mines March 18 108.4 54.3 97.6 193.1 March 19 108.6 53.9 97.5 192.5 March 20 108.' 54.4 97.5 192.8 March 26 108.3 54.9 98.0 193.1 March 27 108.1 55.2 97.5 193.8 March 28 108.2 55.4 97.5 194.7 March 29 108.3 55.4 97.9 195.4 April 3 108.6 56.2 99.2 196.6 April 4 108.7 55.8 98.5 196.5 April 3 108.9 56.1 99.0 197.2 April 8 108.8 56.1 99.1 198.5 April 9 108.2 55.3 97 9 195.3 April 10 107.8 54.6 97.0 193.6 April 11 108.3 55.3 98.1 197.1 April 12 108.2 54.7 97.6 195.1 April 15 108.2 54.6 97.7 196.4 April 17 108.2 54.8 97.5 195.1 April 18 108.3 53.6 97.1 193.6

20 Railroads. 30 Industrials. Sales 1000 shares March 18 29.64 145.59 510 March 19 29.95 146.43 650 March 21 30.11 146.73 580 March 23 30.10 146.73 390 March 25 30.04 146.25 590 March 26 29.98 145.86 620 March 27 30.55 147.25 1020 March 29 30.66 147.54 840 April 1 30.73 147.72 750 April 2 30.59 147.92 830 April 3 31.32 149.65 1730 April 4 31.86 150.41 1990 April 5 31.82 150.36 1260 April 8 31.96 151.29 1260 Ap-11 10 31.20 149.59 1290 April 11 31.28 149.98 890 April 15 30.98 149.72 1260 April 17 30.59 148.35 900 April 18 30.30 147.15 1210