LONDON MARKETS.

Press, Volume XLVIII, Issue 7871, 23 May 1891, Page 3

LONDON MARKETS.

Th_ N_w Z-Ui_A_n> pAKK-ntar CoOMami AssociAT-OK or C_nt__bu_it, _•_____> report through their London agents, Messrs W. Weddel and Co., under date April 3rd, as follows :— Wool—ln view of the opening of the second series of public auctions last evening, the market remained inactive, the Ea.ter holidays further tending to curtail business. The position when the sales commen.ed was, however, much more hopeful than at the close of the first series. There was a somewhat improved tone in the reports received from both Home and Continental centres. Stocks in manufacturers' hands were believed to be generally very moderate, and Instead of the 400,000 bales which waa expected would arrive in time for these auctions, only 316,000 bales were reported. The net quantity available for sale is 286,500 bales, of which only 49,000 are from New Zealand. The opening catalogue was fairly representative, comprising, as it did, 11,700 bales (2000 New Zealand). There waa a full attendance of buyers from all parts. Competition was well sustained, and prices generally for both merinos and crossbreds were fully up to the closing level of the February auctions. The New Zealand wool offered consisted mainly of crossbreds, and the clips from the North Island appeared to be well grown and light in grease.

Grain—Wheat —The weather has continued to he very cold and dry, bo that but little progress has been made by vegetation during the past fortnight. The backward character of the spring has strengthened the hands of holders, and as stocks of wheat and flour in granary at the principal porta of the United Kingdom are now very moderate, prices nave tended upwards, and show a further rise of about Is to Is 6d per quarter for all descriptions. The Continental markets have also gained in strength—a steady consumptive trade being reported from France and Germany—and American quotations have been further advanced. English wheat, being comparatively scarce in most districts and marketed in fair condition, has commanded more money. Foreign wheat cargoes arriving off coast have been limited in number, and those available have changed hands at an improvement of fully Is per qr. Califomians off coast are now worth abo _t 42s per qr. For prompt shipment 41s has been paid, and for cargoes near at hand 41s 3d.

Australian cargoes have marked a further advance, and 41s to 41s 6d, cLf. U.K., is now demanded for cargoes in any po-ltion. Several sales of steamer parcels direct to London have been reported at 40s per 4801b, c.i.t In New Zealand there has been but little business. The Star of Erin, 0500 qrs from Lyttelton, March-April 8.L., was sold last week at 37. 3d per 4801b, ci.f. U.K., and. since then 38.6 d stated to have been refused for a handy cargo on passage, old and new crop. Of. coast the Jessie Headman is still unsold, 41s 3d being the price asked. Australian on the spot is practically nil, and 43s to 44s is now the nominal value.

New Zealand—Stocks in store are almost exhausted, and quotations are 4uite nominal. Sound long-berried, fair to good, 42- to 43a per 4961b ex store; sound short-berried, fair to good, 41s 6d to 42s per 4961b ex store. New Zealand Oats—The lighter sorts have sold more readily, owing partly to the rise in the value of maize. The heavier descriptions are still very slow of sale. We quote:—2ss to 26s for heavy, 24s to 25s for medium, and 23a to 24s for inferior lots per 3841b ex store. New .Zealand Barley—There has been no change in the market, and only a few sales of fine have been reported. We quote— 29a to 32s per 4481b ex store. New Zealand Beans—The market has remained steady, and quotations are still 33s to 34s per 5041b ex store. Butter—The slow growth of pasturage has had its natural effect upon supplies, which have been unusually light, both from Home and Continental sources, but especially from France. Considerable arrivals of New Zealand have been available, and these have sold very readily at advanced rates. Some really prime parcels ex Doric, sold in the provinces, made up to 1235, which is, perhaps, the highest level yet reached in the Home markets for butter from that colony. We quote:—Danish, -120s to 128s; Normandy, 120s to 138s; Brittany, 116s to 128s; Australian, none; New Zealand, prime 116s to 120_i secondary 120s to 112s, inferior (nom.) 80s to 90s per cwt. Cheese—Stocks of American and Canadian have been very light, and prices have again advanced, finest no w makiug up to 58. per cwt. Arrivals from New Zealand have met a brisk enquiry, and have realised from 52s to 56. per cwt for best, and 44s to 50s per cwt. for secondary. Hemp—The market has remained quiet over the holidays. Only 600 bales nave been offered in public auction, and mostly withdrawn. We quote, nominally:— Fine Auckland, £25; good Lyttelton, £23 to ___; fair Wellington, £21 10s to £22; common, £19 to £20. Tow, £7 to £8 per ton.

Frozen Mea#s, &c.—Supplies of homefed mutton and beef have continued to reach the markets throughout the country pretty freely, but in London there has been Jess offering, and values have been maintained. Reports received from various districts still bear witness to the severe strain to which flock-owners are subjected from lack of suitable feed. American beef has been plentiful, and occasionally very low in price, but closes dearer, owing to lighter shipments arriving this week.

Frozen Mutton—Further heavy arrivals have tended to weaken values, but the bright cold weather experienced has infused some fresh life into the trade, which, however, has been by no means active. Fresh shipments from New Zealand comprise the s.s. Doric, s.s. Scar of England, s.s. Rangatira, and 8.3. Tongariro. Quotations show very little change, the ground lost a week ago having been recovered in the case of prime sheep, which are comparatively scarce. Fat sheep are in large supply and slow of sale at reduced rates. Australian consignments have been in moderate supply, but values have not, in sympathy with the decline in secondary New Zealands, been well maintained. River Plate mutton is now more plentiful, and lower in value. The provincial markets have been somewhat irregular, but on the whole have experienced a fair trade at about the rates current at Smithfield. Frozen; Lamb—The Easter trade was disappointing, and prices were very irregular varying as much as id to £d per lb within a day or two. The lowest point touched lastCweek has been materially improved upon during the current week, but stocks are heavy and the market closes weak. Fortunately the quality is generally good as compared witu that of 1890 shipments, and at the same time prime English lambs are scarce. Frozen Beef—Light supplies and slow demand have characterised the trade of the past fortnight. American beef has been too cheap to admit of ready sales of New Zealand parcels, the value of which has been almost quite nominal until within the past £ew days. . Current quotations on Smithfield market are as follow :— Prime Scotch mutton, 4a 4d to 4s lOd per Qty, Prime English mutton, 4s to 4s fid Prime foreign mntton, 3s 4d to 4s per Prime New Zealand mntton, 3s to 3s 2d Secondary New Zealand mutton, 2a 9d to 2s lid per 81b. Inferior New Zealand mntton, 2s 7d to 2s 8d per 81b. Prime New Zealand lamb, 3s 8d to 4s 2d Secondary New Zealand lamb, 3s 4d to 3s 6d per 81b. Prime River Plate mutton, 2s 6d to 2s 7d per 81b. „ _,_ Secondary Biver Plate mutton, 2s So. Sydney mntton, 2s 6d to 2s 8d per Bib. Prime Queensland mutton, none, 2s ncr Bib* Prime. New Zealand beef, hinds, 2s lOd too*sperSlb. ' „, Prime New Zealand beef, fores, 2s 4d to 2s ad per 81b. Prime Queensland beef, hinds, none. Prime American beef, hinds, 3s 8d to 4s per 81b. _.•_... «. ,„__ « Prime American beef; fores, 2s lOdto 3s perß_>. .