Commercial.

Waipawa Mail, Volume XXV, Issue 4625, 27 February 1904, Page 1

Commercial.

Grain Report. Mr F. Pownall, of the New Zealand and Canterbury Farmers’ Co-oper-ative Association, reports as follows, all quotations being f 0.b., truck or wharf, Wellington, sacks extra, un'ess specified Oats.—Horne reports are still favorable at present values, but exports are restricted, owing to retarded threshings south, which have tended to keep market firm. 13 grade Danish hold good at Is 9d, Duns Is lOd, Cartons, Jtoacborys and 8-bills la lid, Canadians 2s, rejects Is 7d. Wheat.—Values have advanced with foreign and Australian markets, war scare stimulating speculation, best milling commanding 3s Cd to 3s 7d. Foed wheat sells readily at 3s Id with limited quantity offering. Seconds 2s Bd. Potatoes. Blue Derwents are available at £3 s.i., white kidneys returning 3s 6d b.i. Maize has fair enquiry at 3s 2d s.i., with shortage of supply, north. Barley.—Malting is active at 3s Bd, food quiet at 2s 7d, pearl barley £l3, b.i. Loans.—Hard crushers remain at 3s 9d, new crop predicted heavy. Peas.—Yorkshires are sought after at 5s ( Jd, partridge dull at 4s Gd, bluo Prussians 5s Gd, splio peas £l3 10s, b.i., pig meal £5 s.i. Bran.—Stocks are udoquate at a cost of £3, s.i. Pollard.—Shipments are changing hands at £5, s.i., with demand brisk. Oatmeal.—Quotations remain at £9 ss, s.i. for 255, and £l2, s.i. for rolled oats. Chaff—Bright oatshoaf rules at 72s Gd, s.i., meeting steady local consumption. South quoto slightly above, cutting being backward, straw chaff dull at 50s, s.i. Hay.—Pressed straw is easier at 42s Gd, all-clover hay nominal 97s 6d, rye-clover G7s Gd. Crass Seed.—Dressod cocksfoot has advanced from 4jd to s£d, rye 3s Gd to 4 s Gd, alsyke 80s, cowgrass Gss, white 90s.

Stock Sales.

At Johnsdnville there was a fair entry of bullocks of good quality which made 2ls per 1001 b. Best bullocks L 8 7s Gd, others L 8 to L 8 ss, light Iff 7s Gd to Iff 17s Gd. A fair yarding of sheep of fair quality. Bheep sold freely. Boat wethers 15s 7d, others Its Gd, light 12s 8d to 13s Gd, ewes and wothers lls Gd.

Messrs Dalgety and Co. report:— At Ivaikora North wo had a very good entry of both sheep and cattle. Wo yarded 2515 sheep and 48 grown cattle, the bulk of which we sold under the hammer, besides making private sales. There was a largo attendance, but only a moderate numbor of operators, the bulk of the fat sheep being purchased for Bouth Africa. Fat wethers 13s 5d to 13s 9d, fat owos 9s to lls, four and six-tooth breeding ewes 12s Id, six-tooth and full-mouth owes 10s Gd, full-mouth owes 10s Gd, full-mouth ewes from 5s Gd to 8s Id, culls 3s to ss, lambs from Is Id to 8s Id for a line of Leicester cross shorn lambs. A line of 33 two and a half year heifers in calf realised £5 Is, two-year heifers in calf £4 17s, fat cows £5 15s, dry cows to £4. At the Feilding sheep fair there was a large muster of sheep and a fair yarding of cattle, and an average attendance. Bheep wore easier especially for two tooths of both sexes. Only a few pens of lambs came forward which met with a good sale. The majority of sheep were quitted. Bheep.—2-tooth owes (good) 13s 9d, lambs 3s 7d to 8s Id, mixed aged owes 8s 7d to lls Bd, wothers 10s 9d to 13s, fat owos 9s 4d to Lls sd, 4, G, and full-mouth owes Lis 7d, 2-tooth wethers 10s 3d. Cuttlo.—lß-month heifers L2 4s to L 3 88, 18-month steors L 3 7s Gd, weaners lGs to L2 3s, 2-year heifers L 4 17s Gd, fat cows L 5 Is, storocows L2 17s Gd to L 4 2s, heifers in calf L2 18s Gd to L 3 10s. Williams and Kettle, Limited, report of their stock sale hold at Stortford Lodge:—A largo yarding of sheep, with a few pons of cattle, and a good attendance of those interested in stock. Bidding in each case of profitable and attractive lots reached prices satisfactory to vendors. Wo realised the following prices : —• Sheep.—Breeding ewes from 7s 9d for culls in low condition up to 10s 3d, 12s Gd and one lot 13s, fat ewes from lls to 15s, the lattor lot being from Mr T. Grosso’s Whakatu station, and of exceptional quality and hoavy weight; store ewes fit for service, from 7s 9d to lls 2d; wethers, 2tooth from 8s Gd to lls Gd, 4-tooth from 10s to 13s, cull 2-tooth and inferior 8s to lls Gd for good sorts, cull lambs 4s Gd, rams, Romney 4 and 6tooth averaged 17s Gd, Lincolns lg, Border Loicesters 2£gs to 3£gs. Cattle.—Prime cows from £5 14s Gd to £5 19s, bullocks £8 to £8 2s, cows of dairy kind L 3 10s to L 5 ss, 18-month steers and heifers L 3 lls, 16-month steers L 3 10s Gd, milch cows L 3 10s to L 5 ss. Pigs.—Tam worth lls to lls Gd, Berkshire boar L2 2s. Horses.—Beveral wore offered, but only two or three found buyers at prices in their favour. At Eketuhunu thoro was a large attendance of settlers from the neigh-

bouring districts. Competition was good, and there was an even steady demand right through the sale, a large number being disposed of at auction, and the bulk of those passed in Jsoon found buyers privately. Lambs of all sorts sold well, breeding owes also selling freely, whilst wethers wore eagerly snapped up. The yarding of cattle was small, but nearly all sold at late prices. * Sheep.— Breeding ewes 7s 9d to 10s 4d, 2-tooth ewes 10s, to lls, culled ewes 4s to 6s, forward wethers 12s lid, stores 9s 9d to lls 7d, culls 8s to 9s, forward ewes lls lid, fat and forward lambs 9s 6d, stores Gs 6d to 8s for forwards, fair sorts 4s to 5s 3d, cubs 2s Gd to 3s Gd. Cattle—2o month heifers L 3 to L 3 3s Gd, weaners 24s 6d to 28s.

The Wool Market.

The second of the series of London wool sales begins on the Bth proximo, when a considerable quantity of New Zealand wool will be catalogued. On present indications the market ought to exhibit firmness, and were disturbing conditions not present, we should bo justified in looking for an advance in values. The statistical position is eminently satisfactory, the available aavicos respecting the production of wool at the principal sources of supply suggesting materially reduced output all round. Argentine is likely to show a sensiblo reduction on the previous year’s clip, the wot season experienced resulting in considerable loss, whilst the drain caused by the meat export has had a marked effect on the Hocks. The Cape output is still a long way below the average. The European and American production has boon steadily declining, while under ordinary conditions the consumption must bo a growing one. On paper the demand for wool should be on a wider basis to the improvement of prices, but apparently when it reaches a comparatively high value its consumption is reduced by all sorts of substitutes, such as shoddy cotton, jute, etc., which are used as a foundation for textures. Merinos havo never quite recovered the slump following upon the unwarranted boom in values rooorded a few years back. Consumption was promptly diverted to the coarsor sorts, and notwithstanding restricted supplies and a lowering of prices, the demand does not improve. The sales next month should, as already stated, exhibit firmness. During the past week the Bradford top market has been brisk, and it may be assumed that the war in the Far East, if confined to Russia and Japan, will havo no material effect. The uncertainty lies in the other Powers being drawn into the conflict, and also in the possible hardening of the money market. The Bourses have already been violently disturbed by rumours of European complications, and the unconcealed naval and military activity of the Great Powers must further disturb the markets. These are factors that will force upon the textile trade extreme caution, and result in a hand-to-mouth business being dono. Notwithstanding all this, wool may still be regardod as the best colonial asset.

Dairy Produce.

The cable message from the AgentGeneral puts the best face on the position of the butter market. New Zealand butter is said to be giving every satisfaction, yet this colony’s product is 2s per cwt below the level of last year’s prices, while Danish butter stands Gs per cwt higher. What is the explanation of this anomaly? Probably we have to look nearer home for the change. New Zealand butter comes into direct competition with Victorian and Argentine butter, and the output in these centres has been tremendous. The Melbourne Aye of a recent date says that the export butter season of tho Commonwealth has exceeded all anticipations, and as a consequence there is considerable difficulty in arranging for the carriage of tho surplus. In 1899-1900 the season ended on Gfch March, only a small shipment being sent on that date. In 1900-1901 the season ended on 27th February, while in 1901-1902 and 19021903 there was no butter available for export to London at this period of the year. This season, instead of the butter exports declining, as was anticipated, they have remained heavy, and it is probable will continue so up to about the middle of April. It is estimated that tho Australian shipments to tho United Kingdom alone this season exceed 17,000 tons, as compared with 1000 tons in the previous season. In addition thero are considerable exports to South Africa and the East. The great mass of Australian butter coming into direct competition with tho Mew Zealand product, and selling at lower rates, has brought down tho prices. Thero is very little, if any, difference in quality, but the necessity for winning back customers is perhaps the chief cause of the reduced prices for Australian butter.