COMMERCIAL.

Timaru Herald, Volume XCVIII, Issue 18084, 14 June 1924, Page 10

COMMERCIAL.

LONDON MARKETS

Br Pr«i« A.snrintion —Couyrlghl, LONDON, June 12.

Bradford tops are quiet, and there is little business. Quotations are unchanged. Butter is firm aud is selling steadily. New Zealand choicest salted is bringing 1745, Australian 16 2s to 1645. Unsalted is scarce at a 100 premium. Danish is worth 180 s. The wet weather is checking the English and Continental production, but Siberian is commencing to arrive in fair quantities. It is quoted at 140 s to 150 s. Cheese is firm. New Zealand coloured is selling at 90s; white at 925; Australian coloured at 86s to SBs. CHRISTCHURCH PRODUCE REPORT.

Br T.Msruob —Pres» AssociationCHRISTCHURCH, June 13. There is little doing in the grain and produce market. It is particularly dull lor this time of the year. Potatoes are still the, main subject of consideration. Growers look askance at £4 10s on trucks, and even at £1 15s, and business is not plentiful. Any business done locally is on the basis of £6 per ton f.0.b., s.i., with July to September quotations at. front £6 5s to £6 10s. Tnore is not a great deal of pitting going on, as current quotations off the fonts are rather too attractive. Chaff is finning up, and from £7 to £7 10s on trucks has been paid f.0.b., s.i., sales having been made during the week at £8 17s 6d, Oats are still in the dress circle. Up till recently the “paper” oats were better than tire actual, but the position is the other way about now. June B's are woith 5s 6d to 5s 7d, f.0.b., s.i., and farmers who are holding any can get os on trucks. Peas are completely sagged, and 5s 6d on trucks is the limit of quotations. The Home market has been very deceptive, and local merchants arc paving the piper. There is no change in seeds.

THE LOCAL MARKETS. PRODUCE TRADE QUIET. The produce trade at present is very quiet, as is usual at this time of the year. Wheat is practically ail disposed of. and millers are now relying upon importations of Australian wheat foi their supplies. It is predicted, that between tnreo and lour million bushels will bo required before tne new crop is available, inquiries made as to the area sown and to be sown, for the coming season, indicate that it will, be greatly in excess of that of fast year. x nero is still plenty ot time tor more to be sown, bpeaknig generally, tanners arc pretty sick uf wheat-growing, but the exceptionally favourable weather conditions winch have prevailed tins winter have tempted a good many to sow more than they otherwise would have done. ... Oats are a negligible quantity so far • s local supplies are concerned, and practically all seed requirements will Ue filled from the south, it is expected that there will, be a very heavy demand, at the oat crop last seasoii was * failure, and in very few instances did tanners have sufficient for their own feed requirements, so that they will nave to buy all that they require foi ■seed. Canadian oats will be landed at. Timaru shortly, several purchases having been negotiated on the basis ot 4s (id to 4s Bd, landed on Timaru wharf, duty paid. Harley is in fair inquiry and contracts have been entered into for next season’s crop on the basis of ss, foi malting. Peas arc very quiet. I< ortunately not many are available here, as the Home market is very weak owing to a large carry-over from last year, and good English crops this year. The market for oatsheaf chaff is verv firm, £7 being freely paid for good bright quality, country stations, sacks found by buyers. Pressed straw is worth £2 10s to £2 15s per ton, on trucks, baled. Clover hay is in fair demand at £5 .lOs to £6 10s per ton, on trucks, baled. There, is a good deal of variation in the quality this season. The price of linseed lias lately advanced from £ls 10s to £l7 per ton, on trucks, country stations. This is accounted for by the fact that Australia and New Zealand are both requiring linseed at tho same time. The price which farmers are now obtaining is above world’s parity. At the same time stocks are short in the Dominion, and it is not the policy of New Zealand buyers to send abroad tor linseed it 1 hev can secure their supplies in New Zealand, as they arc desirous of encouraging New Zealand farmers to grow it. Tho grass seed market is very quiet. Merchants are holding fair stocks for the spring trade. It is questionable whether this will amount to as much as is at present anticipated, owing to the extremely high prices which are ruling. Perennial ryegrass, 27 to 28 lb., machine dressed, cannot be bought, under 8s Oil per bushel wholesale. On tho other hand clovers are fairly cheap. Fanners’ samples of good seed can bo purchased at 10d for cowgrass, while while clover is quoted at llkl to Is 3d. Cocksfoot is worth Bcl to lOd. The. potato market is very weak, due to a glut on the Auckland market through importations from Australia, and southern shipments. The glut how ever, is reported to be casing, but it is feared that as soon as the market becomes reasonably clear again, there will be fresh importations. The quantity available here is very small; in tact merchants say that they are seldom offered any from the country. Notwithtanding the adverse summer, the Willowbridge crop turned out bettei than usual, but in all other parts ol the district, except in a few isolated spots, it was a failure. Whites to-day arc quoted at £5 io £5 os, and Reds at £4 to £4 5s per ion, on trucks, country stations.