COMMERCIAL.

Hawke's Bay Herald, Volume XX, Issue 3909, 8 May 1877, Page 2

COMMERCIAL.

+ GOLDSBROUGH'S MONTHLY CIRCULAR.

Melbourne, April 16, 1577. Wool. — As the season may now be consiclered as virtually closed, and public sales are only held at irregular intervals, there is but little business of importance to note — the total number of bales catalogued since our last monthly report being only 1404 bales, of which about 1102 bales were sold by public auction and private contract. Prices are very irregular ; and although, from the indifferent character of the parcels offering at the fag-end of a season — most of the lots being of inferior quality and in poor condition — it is difficult to indicate by actual quotation the precise effect of the late news from London, it is very evident that the tone of the market is decidedly lower. We are gratified to learn from our country correspondents that, within the last few weeks, heavy rains have fallen through a portion of lUverina and the northern districts of New South Wales ; and those stations which have been fortunate enough to possess sufficient means for water storage to take advantage of the heavy downpour may now be considered safe for the season. In some districts, however, the drought is still felt with increasing severity, and rain is most anxiously looked for in order to obviate the necessity for travelling the stock, or selling at great sacrifice. Already the losses a»d deterioration of the ilocks have been so great in some districts, as, in our opinion, to very appreciably affect the quality and quantity of the coming season's clip. The advices from London per telegraph .respecting the closing of the February -March sales show a further reduction in the value of our staple, and as nearly as we can judge prices were about 2d per lb. less than the average of the November series. The total quantity sold was 215,000 bales, of which 125,000 bales were taken for export, and about 40,000 were held over for the next sales. The large quantity offered in the first salesf coupled with the fact, which was known, that the bulk of the wool from the colonies would reach London this year in time for the second series, to be held at so short an interval, viz., May Sth, had the effect of restricting operations of purchasers to the supply of pressing requirements ; and the depression thus caused by the withdrawal of competition would no doubt be further intensified by the -unsettled state of the Eastern que stion. We are glad, however, to note that very satisfactory prices were obtained for some of our best clips, which seem to have maintained a liiyh position throughout the sales. Doubtless this was owing in some measure to the failure in the silk crop having let! tho manufacturers to mix our line wool with silk in the production of fabrics suitable for ladies, and almost equal to silk itself ; but we think it is becoming more apparent every year that, whatever changes may occur in the market, first-class wool will always prove more remunerative to the grower. Prices current remain nominally as follows : — S. (1. 8. d. Groasy— lnferior . .. .. 0 I! to 0 7 Ordinary to average .. 0 74- „-, 0 9 Good to* superior .. . . 0 10~ „ 1 0 Fleece, washed— lnferior . . „ 1 0 „ 1 1J Ordinary to average .. .. 1 2 „ 1 4~ Average to ;;ood . . . . 1 41- „ 1 7 Superior 1 9" „ 2 3 Scoured— lnferior 0 10 „ 1 0 Ordinary 1 0 „ 1 2 Middling to good . . . . 1 3 „ 1 G Superior 1 7 „ 1 10 Sheepskins. — The auction sales held since our last circular have been well attended by the local and shipping trade, and we have sold an average supply of all descriptions at about late rates. We quote — Fresh butchers' skins, from 2s to 4s each ; cross-breds, up to 4s 3d each ; dry skins, of ordinary growth, 3Acl to 4Ad per lb. ; well-grown station skins, from 4id to Cd per lb. There is a good demand for first qualities, but faulty and inferior parcels are difficult to realise. Hides. — This market continues steady, and we have disposed of all consignments sent forward at similar rates to those ruling last month, any alteration in value being in favor of the buyers. New Zealand hides are in best demand for local requirements, extraweights being worth o.J-rt per lb. ; ordinary ■wet-salted, from 3-id to 4.^1 per lb. ; fresh ox-hides, 17s to 30s each ; cow-hides, 12s to 21s each ; and calfskins, Sd perlb. We have no shipments to report, all the lots sold being purchased by the tanners. Tallow. — At our regular weekly sales held (luring the month we have disposed of 802 casks, of all sorts, at about late prices. The depressed state of the London market naturally influences the shipping trade, and buyers are cautious in their operations ; but the local manufacturers continue to purchase freely

thus sustaining prices. Superior mutton is worth £35 5a f.o.b. ; mutton in store, £33 to £34 10a ; beef, £31 to £34 ; mixed, £25 to £31 per ton.