LONDON MARKETS

Dominion, Volume 16, Issue 173, 10 April 1923, Page 3

LONDON MARKETS

HIGH COMMISSIONER’S CABLED REPORT BUTTER DEPRESSED

The Department of Agriculture has received the following cablegram, dated April 7, from the High Commissioner for New Zealand, London: — Meat. The market is affected by heavy supplies of cheap chilled beef. Best New Zealand lamb meets steady demand, but secondary descriptions are very slow owing to large quantities of Australian on hand. Steady demand at firm prices for prime mutton nndef 561 b., but decidedly weaker tone foi heavier descriptions; over 641 b. particularly slow. No demand for ewes except best light-weight. Largo supplies of 801 b. River Plat© wethers offered in tho market and selling at about od. per lb. New Zealand frozen beef nominally unchanged. New Zealand Mutton. —Under 561 b. .- April 7,9 d. to I JJd- 561 b. to (>4lb April 7, BJd. to Bjd.; March 29, Bjd to 9Jd.; March 24, 8)d- to 9|d. 641 b. to 721 b.; April 7. 7d.; March 29, 7J<l. to 73d.; March 24, 73d. to 73d. Over 721 b.: April 7, sjd. to 6d.; March 29, 6jd. to 7d-: March 24, 6)d. to 7d Ewes: March 29, 6d. to 6Jd.; March 24, 6d. to 6fd. New Zealand Lamb. —Best quality: April 7, Is., occasionally Is. OJd. j March 29, Is ; March 24, Va. *Hd. Second class: April 7, lOd.; March 29, lid.; March 24, lljd. North Island ordinary: April 7, lid.; March 29, Hid.; March 24, lljd. New Zealand Beef. —Ox fores: April 7,33 d.; March 29, 3Jd.; March 24, 3i!d. Ox hinds: April 7,5 d.; March 29. 5d.; March 24, sd. Chilled Beef.—Fores: April 7, 2'd to 2Jd.; March 29, 3J<l.; March 24, 3§d. Hinds: April 7, 4jd. to 63d. j March 29, 7d. ; March 24, 6gclEriglish retail prices are as follow:— Mutton. —English: Legs Is. 7d.; loins, Is. lOd.; shoulders, Is. sd. bn ported: Legs, Is.; loins, lOd.; shoulders, 9d. Lamb-—English; Legs, 2s. 6d.; loins, 2s. 6d.; shoulders, 2s. fid. Imported: Legs, Is. 4d.; loins, Is. 3d ; shoulders, Is. 3d.

Beef.—English: Ribs., Is. 9d.; airloin, Is. lOd.; steak, 2s. 7d. Imported chilled. Ribs Is.; sirloin, Is-; steak, Is. Bd. Imported New Zealand: Ribs, LOd.; sirloin, lid.; steak. Is. 4(1.

Market depressed and prices irregli lar.

New Zealand.—Salted, finest: April 7,170 s. to 1765. per cwt. (Is. 6Jd. to Is. 63d. per lb.); March 29, 188 - to 1925. per cwt. (Is. 83d. to Is. 83d. pel lb.); March 24, 190 s. to 1965. per (Is. SJd. to Is. 9d. per lb.)- Unsalted; April 7,184 s. to 186 s. per cwt. (Is. 73d. to Is. Sd. per lb.); March 29, 19-ls. to 1965. ner cwt, (Is. 83d. to Is9d. per lb.); March 24, 198 s. to 200 s. per cwt. (Is. 93d. to Is. 93d. per lb.) Other qualities: April 7,168 s. to 170 a. per cwt. (Is. fid. to Is. 63d. per lb.). Australian. —Salted, finest: April 7, 1.665. to 1725. per cwt. (Is. 53d. to Is. 63<1. per lb.); March 29, 184 s. to 188 s. per cwt. (Is. 73d. to Is. 83d. pel lb.); March 24, 186 s. to 190 s. per cwt. (Is. Bd. to Is. B|d. per lb.). Unsalted: April 7,170 s. to 1765. up to 180 s. per cwt, (Is. 6jd. to Js. 63d. to Is. 73d. per lb-); March 29, 188 s. to 1925. per cwt. (Is. BJd. to Is. 83d. per lb.); March 24, 188 s. to 1945. per cwt. (Is. 3id. to 13. 83d. per lb.). Other qualities : April 7, salted 150 s. to 1645. per cwt. (Is- 4d. to Is. aid. per lb.), unsalted 1565. to 168 s. per cwt. (1. 43d. Co Is. 6d. per lb.). Argentine.—April 7, 1565. to 170 s. per cwt. (Is. 43d. to Is. 63d. per lb-); March 29, 170 s. to 190 s. per cwt. (Is. 6)d. to Is. BJd. per lb.); March 24, 1745. to 190 s. per cwt. (Is. 6Jd. tc Is Bjd. per lb.). Danish.—April 7,182 s. to 186 s. pet cwt. (Is. 73d. to Is. Bd. per lb.) ; March 29, 200 s. to 202 - per cwt. (Is. 9jd. to Is. 93d. per lb.); March 24, 2045. per cwt. (Is. 93-1. per lb.;.

Cheese. Afarket quiet. Spot prices firm. New Zealand. —April 7: Coloured, 188 s. to 1445. per cwt. <ls. 23d- to Is. 3fd per lb.); white, 13Gs. to 138 s. per cwt. (Is. 2}d. to Is. 23d. per lb.). Alarch 29: Coloured, 148 s. to 150 s. per cwt. (Is. 33d. to Is. 4d. per lb.); white, 1445. io 1465. per cwt. (Is. 3}d. per Ib.'i. Alarch 24: Coloured, 148 s. to 15Os. per cwt. <ls. 3Jd. to Is. 4d. per lb.); white, 1465. to 148 s. per cwt(ls. 3Jd. to Is. 3jd. per lb.). Australian. —April 7 : Coloured, 1325. to 140 s. per cwt. (Is. 23d. to Is. 3d. per lb.); white, 1325. to 1345. per cwt. (Is. 2Jd. per lb.). Alarch 29: Coloured, 1425. to 1445. per cwt. (Is. 3fd. to Is. 3)d. per lb.) ; whit©, 138 s. to 1425. per cwt. (Is. 21d. to Is. 3Jd- lb.). The eteamers Port Hunter, Afaimoa, and Arawa are at present discharging caigoes of New Zealand produce, while the s.s. Remuera has also arrived. Australian shipments from Alarch 10 to Alarch 23 include 85,989 boxes butter. Estimated cheese stocks on April 3 at London, Liverpool, and Bristol were: Canadian, 6700 boxes against 43,500; New Zealand and Australian, 13,590 crates against 74,350 for same time last year. Hemp. Manila market dull and prices lower. G grade April-June shipments quoted £36 10s. per ton. J grade, £34 per ton. Output from January 1 to Alarch 31 totalled 373,000 bales, against 278,000 for same period last year. Stocks in Afanila. end of March were 123,000, against 239,000 bales for same time last year. Stocks in London and Liverpool 5479 bales, against 17,485 last year. New Zealand market is easier in sympathy with Alanila. Nominal values spot Highpoints AprilJune shipments £33, fam £3l 10s. pet ton-

wool. Bradford market firm tone. Fair business in low and medium crossbred. Quotations for tops unchanged. Peas and Beans. Peas. —Demand is limited and buyers are liolding back. Tasmanian spot selling slowly at 85s. 6d. per quarter. New Zealand spot values, 765. to 80s. Japanese plentiful at 295. 6d. per cwt. Maple: New Zealand February-Alarch shipments offered st 71s. per quarter, afloat, sellers 725. 6d., buyers 70sTasmanian Alarch-April shipments offered at 82s. 6d., buyers 80s., spot values 110 s. to 115 s.

Beans. —Fair supplies of English still obtainable. New Zealand nominal values 50s. to 525. per quarter Fruit. Market slow after the holidays. Stocks of Canadian and American small, and more interest taken in Australian. Oregon Newton apples, 10s. Gd. to 12s. Gd- per case; Ptaym'air’s Winesnp. Bs. 6d. to 125.; Australian Cox’s Orange, Bs. to 305.; Australian Jonathan, Ils’, to 155.; Australian Munro, 12s to 17b. ; Australian Cleopatra, 10s. to

IBs.; Australian Ribston Pippin. 10s. to 14s. Victorian fruit all more or less pitted. Ebbs. Afarket quiet. English supplies P ' English 125.; Irish, French, Dutch, Danish, Italian, Ils. to 14s. 6d.; Stvrian, Brittany, Aloroccan, Egyptian, 8s" 6d. to 10s. 3d.

A cable message received by the Bank of New South Wales from its London office, dated April 7, is as follows Wool.—Firm tone noticed close of last sales fully maintained. Mutton.—Wethers slight decline, 6d., 9Jd. ; ewes, dull, od., 64<i. Lambs.—Fair demand, 10d-, 12Jd. Beef.—No change in prices. Pork. —7d., BJd. Butter. —Slow, 1725. Cheese. —Spot, firm, white 1345.; coloured 1385.; prospect lower prices. The Bank of New Zealand, produce department, has received the following advice from its London office, under date April 6: — Butter.—Quiet. 172 - to 1745. per cwt. , , , Cheese. —Good demand on spot. White, 1345. to 13Gs. per cwt.; coloured, 138 s. to 140 s. per cwt. Frozen Meat.—Wether market has declined slightly. Ewes dull. Fair demand for lamb- Beef unchanged. Wethers, light, BJd. to DJd. per lb.; wethers, heavy, Gd. to 7Jd. per lb.; owes, sd. to 6id. per lb.; lambs, Hid. to 12Jd. per lb.; lambs, seconds, lOd. to lid. per lbOTHER ADVICES Messrs. Dalgety and Co., Ltd., are in receipt of the following cablegram from their London office, under date April 6: — “Butter. —Since our report of April 5 prices are lower by 4s. to 6s. N.Z. salted, now 1765. to 178 s. Tliere is more business doing at the decline, and we think prices have touched bottom for the present.”