WOOL AND PRODUCE MARKETS.

Hawke's Bay Herald, Volume XXXVIII, Issue 12379, 24 February 1903, Page 4

WOOL AND PRODUCE MARKETS.

[from our special correspondent ] Bradford, lYfch January.

The oonrse of the wool trade daring the year that hat pasted hat been exciting and even puzzling at times. In merino wool there has been a oontinaoni straggle about priest, and even to-day the fight is still going on. A large volume of trade hat been diverted, no doubt on account of the high price, which hat further been influenced by the change in fathion setting in from fine to strong haired and kempy wools. But in spite of all a good merino top it fid per lb higher than it was twelve monthi ago. The long-continued drought in Australia is now beginning to be felt in onr manufacturing centres, Being that the total deliveries of the last season were 81,000 bales less than in 1901, whilst the opening of the season’s sales in Australia serves only to emphasise the shortage. Crossbred wools, after a long period of stagnation, made a notable advance during 1902. Forties tops, which at the beginning of the year still stood at 7d per pound, had risen about May-June to about 9}d. They receded slightly in August and following months, reaching 7-Jd. rinoe November they rote almost at a bound to nearly 9d, and have since reached 9}d, with a firmer tendency at date of writing. The wool traders of Bradford look forward to the coming year with greater confidence than twelve months ago. Ic is hoped that they have turned the corner, and the outlook for the fntnre in every direction is distinctly mors encouraging. The staple is distinctly strong and prices are still moderate, so that there is every reason to hope wo shall avoid those back reckonings which have so often falsified onr hopes.

From Schwartze's valuable compendium of the statistics cf the wool trade for 1902, we give the oost per lb clean of a few representative descriptions of wool, both merino and crossbred, at the end of the past five years : Pot Buenos Capo Philip, Adelaide. Ajr.s. Short, Good, Average, Average, Washing, d. d (1, d. 1893 ... 81 184 17 15 189) ... 33| 3i 261 21 1900 ... 191 17 Ml 134 1901 ... 21 181 16j 14 1902 ... 27' 234 19 174 Australian—Crossbred. Fine. Med urn. Coarse, d, (!. d. 1898 16 11 9 1899 21 16 124 1900 15 ill f| 1901 16 8 6| 1902 194 114 9 The rise in merino wools, which amounts to 20 to 30 per cent, came gradually. It was not produced by speculation, and certainly not by a preceding rise in the value of yarns and goods, which on the contrary followed the advance on the raw material tardily and at a distance. The rise of merino wool was, as a matter of fact, stoutly resisted everywhere. This was a consequence of the memories of 1900, which all through tho past year have played, and still play, a strong determining part with the trade. With crossbreds—excepting the finer torts—the distinct advance came at the end of the year. Tho stocks of this class, after the abundant and increasing supplies of the preceding years, were naturally much larger than those of merino wools, and delayed the advence which the growing consumption demanded. The rise, as compared with the beginning of the year, amounts to 40 to 50 per cent. This would seem excessive, but the extreme previous depression of these wools has to be considered, It is trne a coarse wool which stood in clean 6Jd a year ago, now stands in 9d, but what is even 9d compared with 231 d for an average merino wool ? In December, 1898,9 d faced merino wool at 185 d, while in December, 1894, before the great expansion in the prodnotion of crossbreds, :the two valnes were as near together as 12d and 16d. The list of arrivals for the forthcoming series of colonial wool sales, oommenoing cn 20th instant, has been closed. Adding old stock, the following are the net available quantities: - Bairs. Sydney 33.3 0 Port Philip 23,200 Adelaide 12.600 Swan Biver 16,1C0 Tasmania ... .. ... SCO _ New Zealand.. 34/00 Cape 12.5G0 Total 133,000 Although there hae been no drought in New Zealander in South America there is some uncertainty as to the future respecting the price of crossbreds. It is known that the quantity coming forward at next London sales is small, and the demand is likely to be keen. There is just the danger that the market may get out of hand pending the arrival of the new clip in April and May, when a reaction may again set in to upset cilculations.

The first series of Eiver Plate auctions took place at Antwerp on the gth instant, when a brisk demand prevailed for practically all descriptions. Any withdrawals wets due more to the firm attitude of holders than to anything else. Details:

431 fcaloa Buenos Ayrea, sold at 2 Jd to Bsd lb I‘l9 bales Hop£e Video, sold at 2£d to lb 841 bales Bnfcra Blof, gold at 4Jd to ir* Jb t.'eoh of these halos are equal ia weight to three bales of colonial. Liverpool Biver Plate auctions.- The second auction of the season took plaoe yesterday, 16th instant. Through the non-arrival of a steamer the total offering was not so largo as anticipated. Altogether 2770 bales were offered. The selection was hardly as handsome as at tha first sale in December. The wools, mainly of the new clip, generally wore well grown and in good condition, although some Buenos Ayres sorts were rather bnrry. There were a large number of home and Continental buyers, and competition was animated. Merinos were fractionally dearer, while crossbreds of sll grades wore from id to id dearer than last sales. Monte Video merino Hi to 10|d pep lb, fine crossbred 8d to 10,-d, medium crossbred 7d to 9d, lambs 4fd to SJ, bellies and pieces 3?d to Bid. Entre Bios, fine crossbred B|d to 9d, medium crossbred 7id to Bd, lambs 75 d, bellies and pieces 4d. Buenos Ayres, mepino 6.5 d to 75 d, medium crossbred Bid to Bid, Lincoln crossbred 5d to Bid, lambs 4d to 7|d, bellies and pieces 2|i to Bid. PB'JDGGB, Glasgow, 14th January.—There were Urge supplies of live stock and a fair demand, with prices a shade easier. Top Scotch cattle made 70s, secondary 63s to 65i, and top Irish 63s per owt, Dead meat sold slowly at steady prices. Beit States 6~id, best Irish 6d, and best cows 5i d to 65d lb. Wakefield, 14th January.—Last week’s high prices could not be maintained, owing to the large number of animals present, there being neatly 1000 more sheep and about 60 more fat cattle. Batchers accordingly got their sheep supplies about Id per Ibless. Choice young pfieep at 9d, medium sized 75 d to Bsd, heavy sheep 6Jd to 7d, and ewes and tups 6d and fid. The ouajity of fat beasts was generally gocd r Boat beet made Bid, average 6Jd to 61d, and interior Bd to Bid. Numbers penned, fat heists 1638, eheep 4017, calves 18, and pigs 134,

Glasgow Cheese Market, 14fch January. —'Arrivals have been much heavie? this week, Fitm prices asked hay© cheeked business, Canadian cheese having risen in value ia set forth aa a reason for an increase in the valne of the home article. ChedcUrs and p.unlops £xe quoted at 56s to 64s pa? Qui* •'

Liverpool Provision Market, 16th January.— United States and Canadian cheese are quoted at 61b to 63s per cwt, whilst Canadian bacon Wiltshire cut runs from 48a to 51s per owt, and long out hams 62a to 6b‘s. States long outs mate from 47a to 63i per owt. Bacon under strong cable advices is quite 6d per owt higher. Clear bellies are quoted at from 51s 6d to 59a per owt. Liverpool butter quotations are as fellows-Finest Irish creamery 100s to 103,, Canadian creamery 102s to 106 a, Danish kiois 114s to 116s, Australian and New Zealand 108s to 112s, Siberian 96s to 98s per cwt.

London Meat Market, 16th January.— Supplies were good, but trade ruled rather quiet, and prices were occasionally easier. Beet Scotch mutton 4s 8d to 6s, nnglish wethers 4a 6d to 4a Bd, ewes 3s 43 to 3s 6d, < anterbnry 3s 6d to 3s Bd, Wellington 3s Id to 3e 4d, Sydney and Kiver Plate 2s lOd, English 6s Sd to 7s 4d, New Zealand 4s to 4i 2d, Australian 3s Sd to 3s 103, Dutch 4t 4d to 6s per 81b.

The New Zealand Loan and Mercantile Agency Company’s produce circular, dated London, 16th January, has the following Wool. —Beports from the manufacturing centres continue to be very favorable. Tbe demand for medium and coarse crossbred, particularly the latter, is extremely brisk, and at the Liverpool anotiona on 23rd December, values for these, as compared with London sixth series closing rates, marked an advance of sto 10 per cent. In merino business has been more restricted, users being disinclined to pay the prices asked by topmaker* who, in view of the short supply, ate very firm in their demands, The outlook for the forthcoming salsa on 20th instant must be regarded as extremely favorable for an all-tonnd advance of say 6 per cent on merino and fine crossbred and about 10 per cent for coarse qualities. As at present arranged the sales will close on 31et instant, thenet available quantity to be dealt with being 138,000 bales. The following fixtures for the London wool sales have been arranged by tbe Colonial Wool Merchants’ Association 2nd series to commence 10th March (without limit) 3rd series to commence Sth May 4th „ „ 7th July 6th „ „ 15th September 6th „ ~ 24th November

(Limit, if any, to be arranged later) Hemp.—The volume of business done during the past three weeks has not been large, and little alteration in prices has taken place. The market is firm at the close, with a good demand for spot and declared hemp, which, owing to limited supply, is dearer. We quote: -In dock £34, near steamer £33 7s 63 to £33 10s, March £29, May £2710s to £27165, and June £27 per ton o.i.f.

Tallow.—The demand continues somewhat restricted, and whilst edible and fine mutton is neglected, prices ate firm with a tendency in sellers’ favor for other sorts. At the auctions held here on the 14th instant, 605 casks were catalogued and 308 casks were sold at fully late rates. As regards c.i.f. business with Australasia there is nothing to report, prices asked by shippers being still at least £1 per ton above buyers’ ideas of value. We quote—Good and finest mutton 35s to 375, fair 32s 6d to 33s 6d, fair to good beef 32s to 335, edible 34s 6d to 36s 6d per owt. Butter. With large supplies still arriving from the Continent, and a considerable quantity of Canadian in oold store, buyers are able to obtain a good selection at very reasonable rates, and are therefore not prepared to pay any outside figure for colonial, with the result that prices for this article have ruled weak, A change, however, to very cold weather during the past few days has stimulated the demand, and there is a firmer tone at the close. Quotations: —Finest Australasian 108s to UOs per cwt, secondary lo2s to 106spsr owt. Cheese.—There is a strong market for this article, and with stocks in moderate compass prices rule in sellers’ favor. The first shipments of New Zealand are now to hand, and are being held for 64s to 65s pet cwt We quota-.—Finest Canadian 62s to 635, finest New Zealand 62s to 64s per owt. Frozen Meat.—Considerable quantities of United States and Eiver Plato mutton are still being marketed, and as the low prices ruling for these (4d and 41 d per lb) naturally attract the attention of buyers, the outlets tor colonial descriptions have been much curtailed during the past three weeks, while values have weakened. A fair demand has been passing for Australian lamb;, though with supplies coming to hand more freely holders have been unable to maintain late rates, A few new season’s Canterbury lambs have been placed on the market to-day and were making from 4s to 4s 2d per stone. Supplies of American chilled and Eiver Plate frozen beet have continued plentiful, and having been sold at reasonable rates the sale of colonial has been practically stopped, and values are therefore nominal. We quote : Canterbury mutton 3s 5d to 3s Gd, North Island 3s 2d to 3s 4d, Canterbury lamb (old season) 3s lOd to 4s per store. Australian beef, hinds 2a 7d to 2a Sd, fores 2s Id to 2s 2d per stone (nominal).