OVERSEAS MARKETS.

Auckland Star, Volume LXIV, Issue 102, 3 May 1933, Page 4

OVERSEAS MARKETS.

QUOTATIONS FOR METALS. SHARP RISE IN TIN. LONDON, May 1. Tlie feature of the metal market to-day was a spectacular rise in the price of tin, which was up £6 13/9 a ton (spot), compared witli last week's closing rate. Copper showed an improvement, but other industrial metals were irregular. Following are to-day's quotations compared with those of April 28: — May 1. April 28. Per ton. Per ton. Copper, stan., spot 80 18 0 SO 10 7J Copper, stan., 3mos. 31 0 7i 30 13 li *Copper, electrolytic 3-1 10 0 3j 0 0 to to 35 10 0 35 5 0 Copper, elect., wire _ _ burs ..35 10 0 35 5 0 Lead, soft, spot .-. 10 IS i) 11 1 3 Lead, soft, forward 11 3 9 11 J Spelter, spot ... 14 10 3 lj> 1 >> Spelter, forward . 15 3 9 lu - 0 Tin, stan., spot .'. 171 2 0 104 S J Tin, stan., 3 inos. 171 15 7J lGi> 1 o ♦American, C.75 cents a lb, compared with 0.00 cents on April 28. FROZEN MEAT. TRICES AT SMITHFIELD. The New Zealand Meat Producers' Board has received the following cable from its London oflice, dated April 28, advising that the following are the approximate average prices realised tor the week, based on actual transactions of wholesale quantities of the descriptions of m?at mentioned, and are for representative parcels of the goods offering during the week, being for business done on the basis of delivered to Smithfield marliet and/or ex London stores: — Sheep.—Canterbury and North Island selected crossbred wethers and maiden ewes, 48/sClb, 3%d per lb; 57/641b, 3Mid; 65/721b, 3%d; North Island, 48/561b, 3%d; 57/G4lb, 3%d; 65/721b, 3Vid; ewes, 481b and under, 3%d; 48/641b, 3d; G5/721b, 2%d. Lambs. —Canterbury, 361b and under, 5%d; 37/421b, 4%d; 43/50lb, 4Msd; second quality, average 321b, other South Island brands, 361b and under, 5%d; 37/421b, 4%d; 43/501b, 4%d; selected North Island brands, including Downs, 361b and under, 5%d; 37/421b, 494 d; 43/501b, 4 1 /2 d; second quality, average 321b, 5%c1; other North Island brands, first quality, 3G?b and under, 5%d; 37/421b, 4?sd; second quality, average, 321b, 5%d. Australian Lambs.—Victorian, first quality, 361b and under, 5%d; 37/42ib. 4%d. Argentine Lamb. —First quality, 33!b and under. 5%d; 37/421b, 4'Ad. New Zealand Beef.—Ox, fores 2nd, hinds 2%d. 'Argentine Chilled Beef. —Ox, fores SHd, hinds 4%d. Australian Chilled Beef. —Ox crops, over 1001b, 2%d; ox hinds, over 1601b, 3d. New Zealand Porker Pigs.—6o/801b, 4%d; 81/1001b, 4%d; 101/1201b, 4 1 / Id. Lamb market: Slightly easier owing to pressure to sell ex sliip. Consumption continues good. Mutton: Wethers; prices lower with trade slow. Ewes: Lightweight easier, but demand fair. Beef: Depressed, owing to low prices Argentine chilled bcof. New Zealand porker pigs: Market dull, with lower prices. Baconers: Market steady, and unchanged. i LONDON HIDES MARKET. POSITION REVIEWED. (From Our Own Correspondent.) LONDON, March. 16. The hides "futures" market opened again yesterday with a rise in price. June was quoted at 6.80 cents, and September at 7.10 cents, against 5.80 cents and 0.25 cents respectively when the "futures" market closed on March 2. In ; addition, large quantities of "actuals"., have been sold at ione cent advance, this having been ultimately paid by the tanners. Apparently there is quite a move on the part of the Americans to put money into commodities, and this has probably been partly responsible for the sudden run on hides. The question is, will it be maintained ? If v we look round Europe, we do not get at all the same optimistic picture. There is a steadier influence at work, and it is true that certain parcels of foreign hides have been sold witli slight increases, but the ■ general tendency is for buyers to hold- back. The tanners themselves say they are not making any reasonable move with leather. This particularly was the case in the United Kingdom, where the tanners refuse to go on buying raw material, until they have made some substantial sales of leather. On the other hand, native hides are slightly firmer, not only here, but all over the Continent, so it may be that we are coming to a time when tanners will begin to operate on a larger scale. With colonial and miscellaneous hides prices generally are unchanged. Good heavy S/D Natal Capes are hold for 6%d to 5%d. In New Zealands the price of freezer cows is etill not less than 4d, while W/S Queensland meatworks are offered at 3%d, and D/S Queensland meatworks at 434 d to sd, according to weight. East Africans are offered at about late rates. TALLOW AND HEMP. The Department of Agriculture has received the following cablegram, dated April 29, from the High Commissioner for New Zealand, London:— Tallow.—Better demand at auction. 837 casks offered, of which 574 sold. Present spot quotations are:—Mutton: Fine, 24/6 per cwt: fair to good, 10/ to 23/6; dark to dull, 17/ to 18/. Beef: Sweet and/or mixed. 20/ to 21/6; fair to good, 18/ to 19/6; dark to dull, 16'6 to 17/6. Mixed: Fair to good, 18/ -to 19/6; dark to dull, 16/6 to 17/6. Gut, etc.: 15/0 to 17/6. Hemp.—Manila: Market remains quiet but firm. Value of "K" grade for AprilJune or May-June shipment, £14 10/. Sisal: Marker firmer and more active. No. 1. for June-August shipment. sold at £15 10/. and for OctoberDecember shipment, £16. New Zealand: Market quiet. Common offered on the basis of £11 5/ for May-June shipment. No first hand sales reported. CHICAGO WHEAT VALUES. (Received 12.30 p.m.) CHICAGO, May 2. Wheat for delivery in May is quoted at 71% cents per bushel, for delivery in July at 72% cents, for September delivery at 73% cents, and for December delivery at 75% cents. THE PRICE OF SILVER. (Received 12.30 p.m.) LONDON, May 2. Silver is quoted at 20'/id per ounce for spot and forward delivery. ,