THE MARKETS.

Press, Volume LIV, Issue 9736, 26 May 1897, Page 5

THE MARKETS.

Press Association—By Telegraph—Copyright. London, May 24. The price of wheat in the London market has fallen 6d per quarter.

The New Zealand Loan and Mercantile Agency Company, Limited, have received the following London cable message, dated May 22nd :— " Wool—The sales closed firmly this day. Since close of last sales prices for the under-mentioned descriptions have altered as follows:-—

" Merino — Scoured super, greasy medium and inferior, washed medium and inferior, scoured medium and inferior, _d per lb higher; greasy lamb super, greasy lamb medium and inferior, |d per lb lower; slipe, par to _d per lb higher; greasy*super, $d to Id per lb lower. " Crossbred—Medium greasy, per lb higher; coarse greasy, par to per lb higher; greasy lambs, fad. per lb lower; tine greasy, _d to Id per lb lower.

" Other descriptions unchanged. _ * "Trade in the manufacturing districts is slightly better. The total quantity sold during the past sales is 211,000 bales, or which 88,000 bales have been taken for the Continent and 12,000 bales for America. It is estimated that 56,000 bales have been held oter for future disposal."

Messrs Dalgety and Co., Limited, have received the following cablegram from their head office, dated London 22nd inst. :—»

"Wheat —- Market excited, and everyone wants to buy. "Meat—New Zealand crossbred frozen mutton (lights) Sfd, (heavies) 3d; New Zealand crossbred frozen lamb (lights) 4£d, (heavies) 4_d to " Wool*—Sales closed with increasing spirit, and prices have gained further ground. The total available (including old stocks) colonial (Australasian and Cape) wool was 267,000 bales, of which quantity 117,000 bales were sold for Heine consumption, 88,000 for. the Continent, 12,000 for America, and 55,000 bales were carried forward for the next series. As compared with closing rates of last series, for the bulk of greasy super wools, suitable for America, prices are on the average 5 to 10 percent, lower; for good and medium greasy merino wools, par to 5 per centi higher; for scoured wools below 1_ osd per lbj par to 5 per cent, higher; for finest greasy crossbred wools, 5 to 10 per cent, lower; for other descriptions, par to 5 per cent, higher; for greasy merino lambs (in general) unchanged;' for greasy crossbred lambs, 5 per cent, lower.