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The London Wool Sales.

[Vtm PRESS ASSOCIATION.)

(Received Sept. 17, 7.35 p.m.) London, September 16. At the wool sales to-day, 7000 bakw were offered, most of which were of poor selection. There was a good attendance of buyers, and competition was of nit animated character. The prices ruling were generally on a par with those at the J nly series. Crossbred medium merinoes had a slightly upward tendency. The .New Zealand Fanners' Co-operative Association of Canterbury, Limited, report through their London agent, under date August 9th, as follows :— Wool—Arrivals for the September sales amount, to about 132,000 bales, of which some 53,000 bales are from New Zealand. Wheat—The weather of the past fortnight s been, on the whole, bright and seasonable ; although much of the damage done m July by heavy rains cannot be repaired, not a little of the ground then lost has now been recovered. The English harvest has commenced m the earliest districts, and now goes on under generally favorable auspices. The wheat crop m France is turning out lather more satisfactorily than was recently anticipated, and under the circumstances it is only natural that there has been a lull m the market for foreign wheats. The American and Indian mamets on the other hand have been stiffer, so that prices here have been less adversely affected than might have been expected, having regard to the weather experienced, and the market closes at about the level last recorded. New Zealand wheat has maintained its value better than other descriptions, owing to the present great scarcity of English on the country exchanges. The cargo trade has been rather quieter. French buyers have held off the market, and m some instances have re-offered their recent purchases while still off the coast. We quote as follows for "New Zealand wheat, viz:—Sound long berried, fair to good, 37s to 38s per 4961b5, ex store; sound short berried, fair to good, 36s 6d to 37s per 49t»lbs, ex store. New Zealand Beans—The market has been quiet but fairly steady, values being strengthened by the advance m the prices of other feeding stuffs. Old crop parcels are still quoted at 31s 6d to 32s per 5041b5, ex store. New Zealand Oats have maintained their recent improvement, and heavy qualities are worth about 26s to 2Ss per 3841b5, ex store. New Zealand Barley—The market is steady for malting descriptions. New crop of New Zealand is making 34s to 36s per 4481b5, ex store. Butter—The few New Zealand parcels available have been of very low quality, and saleable only as grease at los to 22s per cwt. Cheese —A quiet trade has passed at about former rates for the belter qualities; but inferior sorts have been very slow of sale at rather lower prices. New Zealand consignments have comprised a very indifferent selection. The best qualities have made 40s to 46s per cwt, but these are practically cleared out. Secondary and inferior lots make about 28s to 36s per cwt, while some are offered at 10s to 15s per cwt without finding bnyers. New American makes up to 42s to 44s per cwt but meets a dragging sale. Frozen Meats, etc.—■V/arm weather and holiday arrangements have interfered with the general demand, and, as supplies of home-fed meats have been more than equal to the wants of consumers, values have not been supported, except for prime small mutton. The American beef market after a slight recovery last week has again, collapsed. Frozen Mutton—Stocks have been greatly m excess of current requirements, and the almost simultaneous arrival of a number of large cargoes at a time of yoir when tha demand is usually falling off haf had a most depressing effect upon the j market. As these receipts have been pretty widely distributed, buyers have been kept supplied beyond their actual needs, and the result has naturally been a reduction m virtues. Unfortunately, too, the quality and condition of recent arrivals have been by no means satisfactory. During the past two months the majority of. the steamers arriving have brought their cargoes m a more or less "soft"state, some boiug partly "spotted" or " mildewed," and others with more sgerious damage. Ever sine? the dock strike last autumn the work of discharging steamers has been greatly retarded by the refusal of the laborers to work overtime, and }n warm weather thp delay thereby caused is detrimental to cargoes which arrive slightly out of condition.,' IJnder the circumstances,

values have been maintained quite as well us could have been looked for, but a decline of Jcl to |d per 1b has, nevertheless, been established since the date of our last report. New Zealand Lamb—Further fresh arrivals having exceeded the volume of sales, stocks have been undesirably augmented when the bulk of the season's trade is over. A reduction of to per 1b has been accepted m order to effect sales. Small, thiu'carcases, tind parcels out of condition, are 'v;pedatly (lillicnU to sell. The demand throiiphout the provinces has lately been unusually restricted.

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Permanent link to this item

http://paperspast.natlib.govt.nz/newspapers/AG18900918.2.6

Bibliographic details

The London Wool Sales., Ashburton Guardian, Volume VII, Issue 2521, 18 September 1890

Word Count
833

The London Wool Sales. Ashburton Guardian, Volume VII, Issue 2521, 18 September 1890

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