LONDON PRODUCE MARKETS REPORT.

Feilding Star, 23 December 1908, Page 4

LONDON PRODUCE MARKETS REPORT.

Messrs W. Weddett and Co. send us the following report, dated London, November 6: — Wool.— Markets at Home have been quiet since tho close of itihe recent London auctions, though the tone remains steady. Prices for immediate delivery are firm, and sellers are demanding the utmost f aa-thing, and aro quite to any concession. For future delivery, however, it is quitpossible to pick up lots at slightly under current quotations. Merinos are being enquired for more than crossbreds, and are, of the .wo, selling easier. Here, in London, there has been a lit. c enquiry for both fine and coarse wools, and some sales have taken place at full Ootober rates. For the sixth series of sales, which were to commence on 24th November, the following quantities have arrived to i date, viz., 83,000 bales, of which ; 19,000 are from New Zealand, 60,000 from Australia, and the balance from South Africa. Wheat. — All markets have shown more strength during the Hast fortnight, and values may be quoted 9d to ls higher per qr. than at the date of our last report. The unsettled political situation on the Continent has certainly had a. steadying influence on the market, but the chief factor in rising values has been the reports coming from the Argentine regarding the serious damage .to crops in tihat country. The demand, however, fhas been more of a speculative nature, than genuine buying by millers. There is no doubt that to a very large extent, the price of wheat will depend -upon the Ai'genitine crops for this year, as supplies from India and Russia are not likefly to be heavy. Shipments have continued on a pretty large scale, altaiougih about 250_000 quarters less (than a fortnight ago. At the olose, the market here is steady but quiet, and movements to a large extent will depend upon crop news irorn the River Plate, aud we do not look for any material alteration in valiu.es unless the crops there ultimately prove to be serio_tsly damaged. Latest reports indicate that the extent of damage has been greatly exaggerated. " Flrozesa Meats.— Total supplies of meat at Smithfield have been in expess of current requirements, ca<using irregular .and frequently low prices for fr__h-ki_led meat. Stocks of frozen meat are (light, however, and prices have been only slightly affected by the movements of other classes, though, naturaliy, the demand has suffered. Home-grown mutton is fully id per lb. cheaper at oid to 6£d for Scotch, and 5Jd to 6d -for English. Supplies of Dutch sheep are still very heavy, and quotations for this olass are now only 4£d to 5Jd per lb. The demand for beef is inactive, and values of chilled beef have receded. At omihtield, State beef is being sold at 5Jd per lb. in sides; and current rates for Canadian ranch beef in sides is 4id to ssd per lb. At ■Deptford, States cattle are quoted at £17 to £22 pei* head, and Canadian art £14 to £21. New Zealand Mutton. — Arrivals during the past owo weeks amoumt to 80,159 carcases. The position of the market is at present being somewhat adversely affected by the _eavy daily pitching, of Continental mutton, and this in particular applies to Canterbury sheep. Small carcases (under 48 lbs) hare been sold down to 4£d per Lb, whilst the medium weights (48---64 lbs) are quoted at 3__ to 4d per lb \ait_out attracting buyers. Heavy carcases (64-72 lbs) realise 3£ per lb. North Island sheep of good quality are comparatively firm, and for the moderate supplies available -buyers are forthcoming at 3gd to 3£d for light and medium weights, and at 3Jd per ID for heavies. Second quality sheep are steady at 3£d to 3|d, according to weight. Ewes are very scarce, and firm at 3id per lb. Australian Mutton. — The arrivals during the past fortnigjht amount to t>3,893 carcases, a heavy supply compared with previous importations this year. The demand for mutton generally being slow, it has been neoessary to accept prices slightly under those ruling a fortnight ago, and only very small quantities are selling even at the redjuoed quotations. Good light -weight Sheep "cannot be quoted at more than 3d_ whilst medium and heavy weights are seling at 3 3-16 th to 3id. River Plate Mutton.— Arrivals to date amount to 136,726 carcases for the past fortnight. Sales are difficult, and present stocks are more than ample for the preeent limited trade, bmall sheep are certainly in short supply, and these sell readily at 3_d per Jb for good quality, but niediaum weights are a sflow sale, and, along with heavies, some aie being pitched at 3id per lb. Lambs.— Arrivals during the past two weeks consist of only 22,571 oarcases from Australia, 14^699 carcases from New Zealand, and 10^884 carcases from the River Plaite. Maaketings of .•Scotch lambs and of Continental lambs are very heavy, and, as those fresKly-killed descriptions are being sold at below tihe prioes for which the limited stocks of New Zeajand llambs are held,, it is not surprising to find the sale of frozen lambs are. very materially curtailed. Nevertheless, values of Canterbury lambs are maintained at Bid for under 361b6,,5Jd foi 36-42 lbs, and 4|d per lb for 42-50 lbs. Southland lambs under 421bs are quoted at s§d to s*d. and 42-50 lbs at 4,d per lb. Prime Wellington lambs under _21bs realise sfd to s*d; and ordinary quality North. Island lambs id less. The 42-50 lb lambs are slow of sale at 4|d per lib. In view of the large quantities of Dutch lambs available, it is fortunate that the arrival of Australian lambs is delayed by a jliate season. The small parcels of Adelaide and Sydney lambs already here comprise a good proportion of (lambs of nioe quality, but the general state of the market prevents more, than 5d to 5 Jd being realised for the best grades. Useful lambs, are being sold at 4fd to 4§d per lb; and "summer", lambs of ordinary quality can be bought at 4fd per lb. > River- Plate lambs are being£ marketed at 4_d. to -2d per lb. This branch of the trade is ; Steadily growing in importance, January-October arrivals for this year haying' been more than double those of last year.