OVERSEAS MARKETS.

Auckland Star, Volume LX, Issue 172, 23 July 1929, Page 4

OVERSEAS MARKETS.

TALLOW, FRUIT, HEMP, ETC. HIGH COMMISSIONER'S CABLE. • The Department of Agriculture has received the following cablegram, dated July 20, from the High Commissioner for New Zealand, London: — Tallow.—The spot market is quiet and there is little demand at auction. Present quotations are:—Mutton: Fine, 41/ to 41/6 per cwt; fair to good, 38/ to 40/; dark to dull, '36/ to 37/. Beef: Sweet and/or mixed, 39/6 to 43/; fair to good, 37/ to 39/; dark to dull, 35/6 to 36/6. Mixed: Fair to good, 37/ to 39/; dark to dull, 3.5/6 to 36/6. Gut, etc., 34/ to 36/6. Apples.—Contrary to first impressions the Tamaroa's consignment was very disappointing. The fruit was all mature, with considerable waste and ba'dly affected with ripe spot. The steamers Devon and Norfolk have arrived. The fruit is all ripe with some waste. A quantity of Cox's Orange Pippin ex the Devon is useless. The market is fairly steady, but a large proportion of the recent shipments have been large apples, which meet with slow sale. Prices are: Nelson Stunners, 12/ to 19/ per case; Dougherty and Kokewood, 17/ to 2*2/; Statesman, 16/ to 21/; Otago Jonathan,. Delicious and Tasman, 15/ to 20/; Dunn's Favourite, 16/6 to 19/; Cleopatra, 17/6 to 21/. Hemp.—The Manila market is firmer, business is restricted owing to the scarcity of offers. Closing values for "J" grade, shipment to be in August-October, were £38 5/ to £38 10/. Sisal: The market is firm, with steady inquiry. Fair average quality, shipment to be in July-September, is quoted bv sellers as follows: No. 1, £39 10/; No. 2, £37 15/. No. 1, good marks, has sold up to £40 10/. New Zealand: The market is quiet and prices are unchanged. Wool. —The sales have been curtailed by two days. Increased German competition was evident this week, particularly for Merinos. FROZEN MEAT. THE BANK'S REPORT. The Bank of New Zealand has received the following advice from its London office as at the close of business last week: — Frozen Meat. —The wether market is weaker for light-weights, and heavyweights remain steady. The market for ewes is quiet and unchanged. Lamb prices have weakened owing to sellers trying to force sales. The beef market is expected to go lower owing to larger supplies. Unfavourable conditions are affecting trade. Wethers, light, 5%d to VAd per lb; heavy, 4%d to 5%d; owes, 4%d to s}4d; lambs, twos, 9d to 9%d; eights, SVad to B%d; fours, 8d to B%d; seconds, B%d to O'/zd; ox hinds, 5%d to 5%d; fores, 3%d to 4d; cow hinds, 4%d to sd; fores, 3Vsd to 3%d. DAIRY PRODUCE. Messrs. Dalgety and Co., Ltd., report having received the following cablegram from their London house, dated 22nd instant:— Butter.—Priccr, are 1/ per cwt lower (New Zealand, finest, now 169/ to 173/.) Cheese.—Prices are 1/ per cwt lower. (New Zealand, white, now S9/ to 90/; coloured, now 92/ to 93/.) CHICAGO WHEAT MARKET. PRICES ADVANCE. (Australian and N.Z. Press Association.) (Received 10.30 a.m.) CHICAGO, July 22. On a rush to buy back into the wheat market futures recovered all losses suffered during last week's final trading. Bull confidence has been restored by continued dry weather in Canada and unfavourable crop reports from Australia and Argentine, and strong action at Liverpool. Wheat closed: July deliveries, $1.41; September, $1.45 ] /i; December, $1.52%. COPRA TRADE. SLUMP SETS IN. A complete absence of new business and heavy new offerings from the Dutch East Indies have severely shaken • the copra market and a slump has set in. The margarine combine has steadily reduced bids from £24 6/3 to £23. South Sea sun dried copra is to-day nominally £22 5/8. THE CANADIAN DOLLAR. (Australian and N.Z. Press Association.) MONTREAL, July 22. The Canadian dollar is quoted to-day at 4.87% to the £ sterling.