INDUSTRIALS ARE STEADY

Southland Times, Issue 24241, 26 September 1940, Page 3

INDUSTRIALS ARE STEADY

QUIET MARKET FOR BANK SHARES OVERSEAS SECTION ACTIVE ON STOCK EXCHANGE By OUR COMMERCIAL EDITOR An unusually keen demand for seed oats was the feature of the business in the grain and produce markets of Southland during the past week. Business is practically at a standstill in the ryegrass and potato markets, but an outlet has been found for browntop and fair business has resulted. Values for white clover have remained firm.

Oats.—There has been a heavy demand for seed oats. The season is an early one and a much larger area than usual is being sown. Spot stocks are light for this time of the year and any seed lines are ready saleable. Offerings from farmers have almost stopped coming to hand. The nominal value for oats is 3/5 to 3/7 a bushel, according to quality. Wheat.—The area sown in wheat in Southland this year appears to be smaller than usual. The Wheat Committee has circularized merchants and farmers’ organizations discouraging the sowing of wheat in coastal areas. The move is a wise one as wheat grown in coastal areas generally has a high moisture content, and if it fails to pass the milling test growers will have to sell at a greatly reduced price. Stocks of fowl wheat have been taken over at a price approved by the Wheat Controller, and for good whole fowl wheat the price is 4/4, sacks extra, o.t.c.s. Sales are being made to East Coast ports at an equivalent price f.o.b. Ryegrass.—There is nothing fresh to report in the ryegrass market. Business is quiet and lines of low germination are practically unsaleable. Chewing’s Fescue.—Almost all of the season’s crop is in merchants’ hands. The market has firmed slightly in the last few weeks, mainly because of the renewed overseas inquiry. Sales have been difficult because of the shortage of cool space on ships. It is of interest that many growers have become concerned about the recent statement referring to the harvesting of seed in the State of Oregon (United States). Brown Top.—Sales of browntop have been made in England and more business of the kind would be likely if the stocks were available. The outlet in England has been caused by the letting of Government contracts. The price for machine-dressed seed of export quality is nominally 1/9 a pound for certified seed and Id a pound less for uncertified.

White Clover.—The overseas inquiry has been easier, but values have remained firm. The price for machinedressed seed of high purity and germination is 3/- a pound for certified seed and 2/6 for uncertified. Most of the seed is now in merchants’ hands. Farmers would be advised to save paddocks where the stand is pure for seed purposes.

Potatoes.—This market is lifeless; there is no shipping inquiry at all. The market for seed potatoes is also dead. Reports from South Canterbury say that growers are not changing their seed this year because they are not in a position to dispose of their potatoes, either seed or table.

FRUIT AND VEGETABLES Business in the fruit and vegetable markets has been fairly good for this season of the year. Navel oranges have come forward in increasing quantities, but the apple market is beginning to fall away. The wholesale price of apples was increased by 1/- a case at the beginning of the week; other increases may be expected in the next few weeks. Ordinary cooking apples are scarce. A consignment of Tasmans arrived on Tuesday and they helped to relieve the position. The only other varieties of apples offering are Delicious, Sturmers and Granny Smiths. A consignment of pears arrived on the market yesterday. The market was a bare one and the stocks were taken up rapidly. More supplies of South Australian oranges were released during the weekend. The fruit was repacked before being distributed. Supplies of Australian lemons are finished for the season; New Zealand lemons are expected on the market in about a week’s time. Stocks of bananas are in short compass and the next shipment will not be available until next Wednesday. Cauliflowers and cabbage were plentiful at the week-end and were cleared at low rates. The market has since recovered. Fair supplies of lettuce are now available.

Prices may be quoted as follows:— Apples, 9/- to 10/6 a case for best quality. Pears, to 6/6 a half case. Cauliflowers, 5/- to 8/6 a sack. Cabbages, 3/- to 4/6 a sack. Lettuce, 2/6 to 4/6 a dozen. Carrots and parsnips, Id a pound. Potatoes, 4/6 to 6/6 a bag.

RANGE OF PRICES Wholesale Bran: £6 a ton. Butter: First grade, l/4g. 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: 1/6. Bran: 7/6 per 1001 b. Oatmeal: s’s 2/-; 25’s 8/9. Flour: 25’s 4/6; 50’s 8/6; 100’s 16/-. Pollard: 9/- per 1001 b. EGG PRICES Eggs were quoted yesterday at 1/1 to 1/2 wholesale and 1/2 to 1/4 retail, SEPARATOR BUTTER Separator butter was quoted yesterday at lOd to 1/- per lb wholesale and 1/1 to 1/3 per lb retail. The prices of eggs and separator butter are subject to constant variation and those quoted were the prices ruling yesterday.