PRICES ON LOW LEVELS

Sun (Auckland), Volume II, Issue 559, 11 January 1929, Page 12

PRICES ON LOW LEVELS

POSITION REVIEWED January 11, 9.30 a.m. Steady trading in most lines of grain, seed and produce is reported at the moment. Potatoes have caused the most excitement over the past week, heavy supplies causing the market to sag. Yields in the country districts have apparently been heavy, and the daily quotas to the marts have shown a big increase over the past day or so. The result has been a tendency to glut the market, and yesterday and this morning second grade lots were selling as low as os a cwt. The position is made more acute by the fact that during January many city folk are absent at the beaches and elsewhere, and the consumption of tubers is well below normal. Considering the time of the year, however, there is a steady retail demand which should absorb increased supplies on the lower levels. The position does not appear to be anything more than a slight over-supply due to conditions of a temporary nature. Tubers, well within the range of the average housewife, however, should be available for some time to come. Yesterday’s wholesale price on the trucks at Pukekohe ranged between £G and £7 a ton. Auckland merchants’ through store offers ranged around 8s 6d to 9s a cwt. Shipments to Sydney An effort has been made in certain quarters to get the permission of the Government to ship a portion of the surplus to Sydney, where the tubers are bringing over £2O a ton at the moment, but the parcel mentioned, 25 to 50 tons, would have little effect on the position which, after all, is only regarded as temporary. In regard to the forward position, most merchants are prepared to stand by at the moment. Auckland merchants have already made fairly substantial commitments for May June, and July, on a basis which will allow' the tubers to go out of store at £7 10s a ton. Lower Prices for Onions Practically all onions importations have disappeared from the market, and supplies are being drawn from local growers. Ample stocks are available with through store merchants’ quotations around 12s 6d a cwt. Present indications are that even lower levels will be reached in the near future. In the South, following the recent rains, the forward position has taken a stronger tone, sellers for April-May-June delivery asking £7 10s a ton. The W'heat market has also shown increased strength over the past day or so, quotations from the South moving up Id to lid. Stocks in Auckland are light. The firmer tone is no doubt due to the unfavourable weather in the South, but it is hard to see how.the market can soar to any great heignts in the near future. Steady Demand for Maize Compared with last w'eek, the market for maize is also slightly firmer. Gisborne merchants asking os 3d f.o.b. a bushel again, but practically no business has been reported at that figuiv. Through store Auckland the cereal i meeting with a steady demand at Us Gd a bushel. Southern merchants are asking ?.d a bushel more for B Garton oats, but" the turnover at the moment is not large. Business in Auckland is quiet, with ! B s going out of store at 4s 7d and A’s at 4s lid. The position in regard to chaff is unchanged, merchants’ through store quotations holding at £ 9 10s a ton. Pollard from Australia An exceptionally heavy demand for pollard has been causing merchants some concern during the past week or so. Stocks had fallen to a very low ebb prior to the arrival of the Kartiga i l *™? Melbourne with a consignment of 1,700 bags. Steady shipments are being sent forward from the South, but tne market down there does not compare at all favourably with that in Australia or the local mills at the moment. Prices, according to the place of purchase and the market at the date of purchase, vary considerably. Pollard is selling at from 10s to 11s a cwt. and bran around 8s 6d a cwt.