CITY TRADING

Southland Times, Issue 24163, 27 June 1940, Page 3

CITY TRADING

GRAIN AND PRODUCE MARKETS

INCREASED OFFERINGS OF CHAFF

By OUR COMMERCIAL EDITOR Business in the grain and produce markets has been quiet during the week, there being little trading in most lines. Chaff has been offering more freely, but other varieties have been steady. Supplies of apples in the fruit markets are diminishing, but prices have not risen to a great extent. Vegetables are in good supply and prices are reasonable.

Oats.—Most crops of oats which have been threshed have now passed into merchants’ hands. For suitable lines, the chief demand has been for milling. Most of the purchases from farmers, except those required for the seed trade and local feed, have been railed direct from farmers’ sidings to millers throughout the South Island. A fair quantity for this purpose has also been shipped to the North Island. The value to growers ranges up to 3/7 a bushel for a A grade and 3/4 for B grade o.t.c.s.

Wheat.—A considerable quantity of wheat which growers had hoped would pass milling grade but which was not accepted for this purpose is in store. There has not been much drying of the grain during the recent wet weather and the lines in store retain too high a moisture content to be passed by the grader. It is hoped that a considerable proportion will be accepted later if the condition of the grain improves sufficiently. Efforts are being made continuously by merchants to induce the Wheat Committee to reach some solution of the difficulty; There is still a fair quanity in stack, but growers are advised to leave it there for some time to give the grain a chance to qualify for milling. For the current month values for milling wheat f.o.b. Bluff are 5/8 a bushel for Tuscan varieties, 5/10 for Hunters varieties and 6/- for Velvet. Because of the large quantity of wheat in store, the market for good whole fowl wheat is rather weak with values to growers at about 4/9 a bushel, o.t.c.s.s.e.

Chaff.—This variety of produce has been offering more freely since the recent increase in the price to £5 a ton o.t.c.s. The demand is limited, however, as there is no shipping outlet. Ryegrass.—This market remains inactive. There is very little shipping demand, but there may be a certain amount of business for the spring trade, although the main shipping demand is for autumn sowing. Good quality lines showing satisfactory germination are maintaining their'prices. Certified lines of good germination are also in demand.

Browntop.—There is a decided lull in trading in this seed. At preserit there is no overseas demand because of the war situation abroad Merchants are disinclined to operate until some outlet appears. Stocks are not particularly heavy as the production in the last season was small, but this seed depends on an overseas market to maintain prices. Potatoes.—This market continues to be in a weak position and unless the Government increases the fixed price growers in Southland will be heavy losers. Current value for fair average quality is £2/15/- to £3 a ton 0.t.c.5., but good lines of King Edwards are commanding £1 to £l/5/- a ton more for local use. FRUIT MARKETS QUIET Business has been fairly quiet in the fruit marts, although sales of most lines are proceeding steadily, if slowly. Reduced quantities of apples are coming forward and wholesale stocks are, therefore, fairly low. Prices all round are firming but not to any great extent as yet. Pears are in demand and from now on it may be impossible to secure sufficient for requirements. Stocks of Island oranges are still obtainable. Fair supplies of Australian lemons are on hand and sales are increasing. Marmalade oranges are still scarce and the small consignments coming forward are quickly snapped up. Bananas are selling readily and there is no indication of an over-supply at present although cold weather may affect the demand later.

Pumpkins are plentiful. There is a fair inquiry for cauliflowers and cabbage. Apart from this the vegetable market is unchanged. Wholesale prices are:— Apples, from 4/6 to 9/-, according to variety and quality. Pears, 5/6 a box. Marmalade oranges, from 16/- to 17/6 a case.

Jam melons, to 2d per lb. Pumpkins, to 2d per lb. Parsnips, to ljd per lb. Carrots, Id per lb. Swedes, 1/6 a sugar bag. Cauliflowers, 6/- to 7/6 a bag. Cabbages, 3/- to 4/- a bag.

RANGE OF PRICES Wholesale Bran: £6 a ton. Butter: First grade, 1/4J. Oatmeal: 25’s £29/14/- a ton; 200’s £27/14/-. Pollard: 100’s £7/10/- a ton; 150’s £7/5/- a ton. Flour: 200’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 Butter: 1/6J. Bran: 7/6 per 1001 b. Oatmeal: s’s 2/-; 25’s 8/9. Flour: 25’s 4/6; 50’s C/6; 100’s 16/-. Pollard: 9/- per 1001 b. EGG PRICES Egg prices were quoted yesterday at 1/11 to 2/1 a dozen retail and from 1/8 to 1/10 wholesale (hen’s eggs). Pullets’ eggs were quoted at 4d a dozen less. SEPARATOR BUTTER Separator butter was quoted at 1/to 1/2 per lb wholesale according to quality, and at 1/3 to 1/4 retail. The prices of eggs and separator butter vary from day to day. The prices quoted above were those ruling yesterday.

FARMERS’ TRADING COMPANY (United Press Association) AUCKLAND, June 26. The paramount duty of every individual and of every business was to help to win the war and save civilization, declared Mr H. E. Worsp, chairman of directors of the Farmers’ Trading Company, Ltd., at the annual general meeting of shareholders. The company, he said, had assisted the Government with a war loan of £25,000, its factories were busily engaged in war work, and between 60 and 70 of the staff had volunteered for overseas service and a like number for home defence. The-directors realized the importance of intensifying efforts to sell New Zealand-made goods.

The company was in a very strong financial position, the turnover having reached record figures as was shown :n the balance sheet. The cash available totalled £218,747, compared with £126,289 last year.