COMMERCIAL.

Timaru Herald, Volume LX, Issue 2571, 7 December 1897, Page 2

COMMERCIAL.

— #— ENGLISH M A KKETS. The representative in London of the Christcliurch, Timaru, and Napier Cooperative Associations, and of the Farmers' (Jo-operative Fire and M irine insurance Association of Canterbury, reports («s follows, under date, London, October 30 ih, 18d7: — WOOL. The fifth series of auctions of colonial wool for the year, which opened on the ?Bth September, terminated on the 14th inst., having occupied 14 days, at an average of 12 344 bales per diem, against 13.348 bales at the corresponding series of last year. Of the 157,300 titles sold, about 93 000 we. e taken on Home account and 62,000 for the Conlinent, wlii'e American purcliases amounted to about 2003 bales. At the outset an advance of from 5 to 7£ percent, for merinos and 5 per cent for crossbreds way firmly established, owing, to the limited supply of the raw material and diminished stocks on the oulinent. The Hnrac trade were by fnr the largest, purchasers duriny tlie first few days, hut -■•as the sales progressed the Germans and French cam* more to the front, which further stimulated prices. The better parcels of merinos, both scoureds and greasies, now rule from id to l£l, while other descriptions are £d to Id above pi ices ruling last sales. Of cross bred s there were about 71,000 bales catalogued, the majority being New Zealand, for which tn ere was an active demand. The better clas3 {.'.reasies show an advance of £d to Id, and inferior faulty lots £d to £d, good scoureds are £d dearer than in July, but medium and coarse are rather easier. WOOLLBD SHEEPSKINS. At the wool exchange on the 21st inst. 5095 bales w< tolled sheepskins were offered. There was a jjood attendance of buyers, both Home and Continental, biddings being brisk and well maintained, and the bulk of produce disposed of. The skins were mostly of good quality and merinos showed an advance of 5 per cent., while crossbreds were from par to 5 per cent, dearer than at the p.evious auctions. Present quotations are:— New Zealand full-woolled merino, 5d to fifd per lb ; do do crossbred (tine), s|d to 6fd do ; do do crossbred (coarse), 5d to 6£d do ; do medium, 4£d to sg-d do ; do do crossbred, 4£d to 5Jd do; do short and shorn, 2Jd to 4d do ; do do crossbred, 2£d to 2|d do. WHEAT, OATS, ETC. Prices of wheat have varied during the month. Supplies have at times been liberal, consideiable shipments having been attracted here by the improved values ruling, and our market has shown signs of weakness in consequence. According to the Standard, last week's official average for English wheat representing sales i»f the week b<-fore, shows only an advance from 31s 10d to 32s 2d per quarter, and this compares with 32s lid a month ago. White varieties are in brisk demand for France. The capacity of the Continent to absorb wheat this season 13 being strikingly manifested, the United States and Canada having shipped 6,690,000 quarters, including flour, to J ( .urope since the beginning of August, or 50 per cent, more than in the corresponding period of last year, and more than 150 per cent, in excess of the quantity for that of 1895 Such a rate of export for eleven weeks is equivalent to nearly 32 million quarters per annum, or fully 12 millions more than the countries in question will be able to supply to Europe during the cereal year. The present heavy drain, then, must leave a shortness later on. Kussia also has been exporting wheat very libeially, and cannot continue to shii> it on the same scale long if there be any truth in the accumulating reports as to the deficiency of the last crop Oats are in better request at 3d to 6d more money for the commoner sorts. Some fine- heavy Canterbury parcels are making 27s to 28s for 3841b5, ex store, and ordinary New Zealands 25d. FROZEN MEAT. The frozen mutton iradehas bpen dull during the past month, supplies of both frozen and fresh killed meat having bee)) in excess of requirements. Values kept fairly steady at 2? 3d in market for choice Canterburys up to the commencement of the present monlh, when they weakened, and 2s 2d is now the top price for best sheep, while plain carcases are freely offered at 2s aud Is lid for in.^♦•••Jtelior. As. supplies are heavy, any im mediate improvement in prices i« scarcely to be looked for. For frozen lambs somewhat better prices have been obtained during the past day or two, the market having suddenly jumped to 2s 4d for the best fresh carcases, but the season being over, the demand is limited. It is estimated that the iinports this year exceed those of last by some 240,000 carcases, and large parcels have bepn forced on sale from time to time at, 2s per stone, while holders who failed to meet tiie market and have had lambs in store since June, have been glad lo take 1m 8d to 1« 10- f per stone at Smithiit'ld for these stale carcases. TALLOW. The tallow maiket has been quiet during the last four weekn, but at the last sale, on the 27th inst., buyers showed more activity. Finest mutton is unaltered,- viz., 20s 6d ; fair to good has gained 3d, viz., 18s 6d to 19s 3d, and fair to finest beef tallow 3d, viz., 17e 3d to 19s.