SYDNEY MARKETS.

Press, Volume XLVI, Issue 7246, 28 February 1889, Page 4

SYDNEY MARKETS.

We take the following extracts from the New Zealand Loan and Mercantile Agency Company's report, dated Sydney, February Wheat (free)— There hare been practically no transactions since we last wrote, holders not being inclined to force the market, but preferring to retain their stocks until the results of the general elections now in progress is known, there being little donbt that if a protectionist majority is returned strong enough to carry the decal policy of that party, the new duties would certainly include grain. Although holders take this view of the situation, the ntnbabilitv of a stroniE pro*

tectionist majority is not sufficiently great to have led, so far, to any speculation worth speaking of. Oats (free>—The same remarks apjjMl to oats, the only transactions passing being almost entirely of a retail character. Stocks in first hands are very heavy, and were holders to force the market in the slightest, an immediate drop would be the result. The few transactions that have taken place have been on the basis of 2s 9d to 3s 3d for feed, and we quote milling sorts at up to 3s 6d (nominally). Bran (free) has weakened somewhat since last writing by the Wakatipu on the 28th ult., and IOSd may to-day be taken as full value for spot parcels. Pollard (free) also shows an easier tendency, Is per bushel being a top quotation as we write. Stocks, however, are by no. means heavy. Flour (free)— This market continues in a very congested state and entirely in favor of buyers, and this position has been enhanced by the receipt of large consignments from America, the ban Francisco mail steamer which arrived on the 10th inst. bringing over 700 tons, while the sailer Josephus has just arrived with a large cargo, comprising all qualities from low grades to best roller brands. Best brands of Adelaide roller flour can. be secured at the moment at £11 10s, other descriptions being extremely difficult to place, as many bakers only use the best South Australian brands during the hot weather. .... Butter (duty, 2d per lb)—Since last writing the market remained without improvement until the beginning of this month, when the local butter Company suddenly advanced their prices to Iβ for dairymade, and Is 3d for factory butter, and it was hoped that the rise would be maintained, but the improvement was only temporary, the market falling again shortly afterwards, as quickly as it rose, and we to-day q?1Ote: - ■' • Ferlb. Best local dairy made «• 7d to 10d „ Factory made ~. .. 10d to Is. (Nominally.) „ N.Z. Dairy made .. 7dto9d „ N.Z. Separator .. .. Sdto 10d Light rains still continue to be experienced in the dairy districts of the colony, and our own local butter is in fairly plentiful supply, but the demand ie quite sufficient to absorb consignments, and no accumulation of stocks is therefore taking place at present. Cheese (duty 2d per lb)—Locally made cheese continues in large supply, and may again be quoted at from 3d to 7d per lb, the quality being very irregular. Prime New Zealand still meets with attention at up to 7£d, and loaf cheese commanding up to 8&d, supplies at the moment being rather short. Hams (duty 2d per lb) show no improvement, and may again be quoted as exceedingly dull of sale at from 10d to Is per lb. Bacon (duty 2d per lb)—Owing to the scarcity of supplies, our quotations of the 28th January have been well maintained, 10d per lb being readily obtainable for prime light weights. Potatoes (free) within the last fortnight again reached famine prices owing to the shortness of supplies available during the first week of the current month, and best Circular Heads at one time commanded as much as £18 per ton. Owing to recent heavy shipments, however, prices have since receded, and we now quote:— NewZealande . £0 to £7 per ton Warrnambools .. £6 to fid „ G&mbier (S.A.) .. £7 . „ Fresh Circular Heads.. £9 to £9 U J,, with the prospect of a still further decline on these prices on arrival of other heavy shipments already advised.