CANTERBURY MARKETS

Press, Volume LXIII, Issue 18891, 5 January 1927, Page 8

CANTERBURY MARKETS

THE WHEAT POSITION. (ET OUB COMMIHCIAL EDITOR.) Tuesday Evening. The trade has not fully resumed since the holidays, and quotations for most lines of produce are indefinite. Merchants anticipate heavy yields of oats, clovers, and ryegrass, and in view of the carry-over in these sections they are not prepared to operate to any extent. Their ideas'generally are in the direction of a lower basis of values than last season. A Grade Gartons in store in the south are quoted at 3s od f.0.b., s.i., which does not augur promisingly for the new crop. The yield will be heavy this year. There has been a fair parcel of cowgrass sold during the past fortnight for abroad. Peas are one exception to the general idea of low prices. A good deal of forward business has been transacted in this commodity at prices varying from 6s 6d to 7s on trucks. "Take-All" in Wleat. The wheat fields never looked better from the roadside, but a closer inspection in some districts reveals the existence of take-all/' This destructive pest is reported to be fairly prevalent in the Ellesmerc and Eakaia districts, and also in North Canterbury, and growers are perturbed at the possible effects. The abnormal rdinfall in December, and the muggy weather following, were conducive to tho promotion of pests, but it is yet too early to estimate the influence or extent of the trouble. Eust has also appeared in some districts. The country badly wants a spell of strong drying weather, as the crops are not filling out as well as was hoped. The moist conditions will make the harvest later than appeared probable a month ago. Potatoes.

There has been a very rank potato growth, and occasional blight is reported. As a rule this sort of trouble does not appear until early in February. The outlet to Sydney this season is not so promising as it was last. Good rains in Australia may help the crops over the».-, but prior to then it was considered by Australian reports that New Zealand would again have to be drawn upon for supplies. The holidays have suspended what business was taking place locally.

WOOLLEN AND WORSTED GOODS. ! BRADFORD AND DOMINION. (rBOM OBH OW» OOBBXSPOSDBHT.) LONDON, November 30. Speaking at the Frizinghall Conservative Club, Bradford, Mr Eugene Ramsden, M.P. foi Bradford North, said that he had been examining the trade and navigation returns, and had found some interesting information with regard to the effect of purchases by the self-governing Dominions on the woollen 'and worsted trades of Great Britain. In the first ten months of this year Canada bought from us 13,203,700 square yards of woollen tissue, valued at £2,037,429, and 10,945,400 square yards of worsted tissue, of the value of .£1,594,074. There were only two countries whoße purchases for woollen goods were larger than that of Canada. These were China, with a population of about 400,000,000, and the United States, with a population of over 100,000,000. In the ten months mentioned Canada purchased in woollen goods more than the whole of Bimilar cloths bought by Norway, Sweden, Denmark Germany, Holland, and Belgium. All European countries together only purchased £570,188 worth of worsted goods. The Dominion of Australia wa a also a splendid market, and the total of her purchases in woollen goods amounted to £1,198,416, and in worsted goods £321,978. To New Zealand, from January Ut to the end of October, wo sent woollen goods valued at £369,218. In other words, practically the same value as we shipped to four countries, namely, Norway, Sweden, Spain, and Portugal. Of worsted goods she actually bought more than the total purchases of France, as well as the other four countries mentioned. This great volumeof trade was due to a very great extent to the fact that these Dominions give ub a preferential rate of duty, and we were consequently in a position to offer our goods at a less price than those of the foreigner.

DAIRY PRODUCE. (PBISS ASSOCIATION TXLEGBAM.) WELLINGTON, January 4. The New Zealand Dairy Produce Board baa received the -following cable from the London office of the Board, dated December Butter—New Zealand finest 1745, first grade 1725, unsalted 192 a .stored 160s to 168s. The market is steady with a firm undertone. Australian finest 166s to 1725, Sne 1568 to 161s; Argentine unsalted 150s to 162s- Dutch unsaHted 190s to 1925; Danish 184s to 188s. The retail price is unchanged. Tne German market is unchanged but there is a better demand. Colonial sales are negligible. . , The French market is unchanged. Cheese-New Zealand white and coloured finest 945, first grade 935. Coloured has since advanced to 95a. Canadian 92a to 98s The market is fairly active. The retail price is Is.

Messrs A. H. Turnbull and Co. are in receipt of the following cabled advice irom London, prices for the previous week being shown in parentheses:—Butter: Danish 184s to 186 a (178s to 182s), N.Z. salted 172s to 174s (170s to 1725). The market is steady. New Zealand first-grade salted stored 166s to 168s (160» to 1645). Cheese: N.Z. white and coloured 93s to 94s (95s to 965). The market is steady. Canadian cheese white and coloured 94s to 98s (94s to 98s). WHEAT. (BY CABLB—FBBSB ASSOCIATION—(ATJSTBALIA3 AKD W.Z. CASUS ASSOCIATION' NEW YORK, January 3. Chicago wheat quotations are:—January, .133J cents a bushel; May, 138J cents; July, 1301 cents. METALS. (Received January 4th, 10.35 p.m.) LONDON, January 3. Copper—Standard, spot £56 Is 3d a ton, forward £56 18s 9dLead—Spot £2B lis 3d, forward £2B 17s 6d. Spelter—Spot £32 15s, forward £32 18s 9d. Tin—Spot £303 2s 6d, forward £297 2s 6d. Silver—Standard 2od per ounce, fine 27d. AUSTRALIAN MARKETS. (Received January 4th, 10.30 a.m.) SYDNEY, January 4. The price of potatoes has dropped by £5 a ton. Prime Taßmanians are offering at £2l a ton. Local supplies of butter show an increasing tendency, and this is considered likely to affect imports from New Zealand, 12,000 boxes of which were imported last week. It is reported that of imported butter are selling at a concession, and it is also stated that contracts for supplies of New Zealand butter have been made for spread delivery up to March next. FERTILISER SUPPLIES. [THE PEESS Special Service.] • AUCKLAND, January 4. The recent decision of the New Zealand Co-operative Dairy Company, Ltd., to obtain control of supplies of superphosphates and mixed fertilisers for its shareholders has resulted in the formation of a new company. Fertilisers, Ltd, to take over the works of Wright, Stephenson and Co., Ltd., at Otahuhu. The property on which the works are situated is near the railway station, and extends to about 20 acres. Wright, Stephanson and Co., and the New Zealand Dairy Co. will be financially interested in Fertilisers, Ltd., and H is understood that Messrs W. D. Hunt and William Goodfellow will join the Board, Mr Hunt as chairman, and Mr Goodfellow as managing director.