THE OAT MARKET.
A DISMAL PROSPECT, DEMORALISED MARKETS. [Press Association.] DUNEDIN, August 28. There are signs of a complete break in the oat market owing to the absence of demand, and a series of forced sales. It is reported that a purchase was made to-day by -a Southland firm of a considerable line of B grade Sparrowbills at Is 7d at Gore, equivalent to Is 10d f.o.b. s.i. Bluff. Advices from Auckland also state that B grade Sparrowbills are offering there from south at Is lid f.o.b. s.i. This represents a drop of between 8d and 9d per bushel from t/he highest point touched this season, and as a majority of merchants laid in heavy stocks at higher prices, losses must be heavy. This promises to be the most disastrous year experienced in the oat trade for a good many years. Advices from Australia indicate a demoralised market in Sydney and Melbourne, owing to heavy shipments from New Zealand on consignment. There is no present indication of the renewal of a North Island demand, and merchants are looking to London, but the absence of cheap freights blocks the way in that quarter.
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Bibliographic details
Gisborne Times, Volume XXVI, Issue 2282, 29 August 1908, Page 2
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192THE OAT MARKET. Gisborne Times, Volume XXVI, Issue 2282, 29 August 1908, Page 2
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