THE LONDON MARKETS.

Hawera & Normanby Star, Volume I, Issue 10, 15 May 1880, Page 2

THE LONDON MARKETS.

The New Zialahd Loan and Meecahtimb Agbncy report aB follows, under date London, March 25 : —

Wool. — The attendance and competition Hjf home and foreign buyers even for thin •«eaaon of the year was exceptionally good, -and amongst the latter some American representatives found a place. From the outset it was manifest that the firm tone of the market prior to the sales would be developed, and that buyers were, under the influence of competition, and in order to satisfy pressing requirements, prepared to £y a tangible advance for all classes, save libs' wool, on December rates. During the second week of the sales the advance thus secured on the various descriptions of Australasian growths stood as follows: — Combing merino, fleece and grease, 1-Jd to 2|d per lb; clothing, do do, Id to IJJ; ■Bcoured do, 2d to 34d ; crossbreds, washed and scoured, 2*d to 4d ; do, greasy, ljd to •3sd. This position was, subject to slight irregularities from day to day, quite maintained until the close. Lambs' wool, as already indicated, by no means fully participated in the enhancement of values. Faulty parcels commanded no- appreciation ■on December values, while well-grown -cross or half-bred descriptions, although quotably dearer, did not mark the same advance as like scoured, washed, or greasy wool shorn from older sheep. The woolb ■which exhibited the greatest improvement were cross-breds, combing greasy merino, and good shnfty scoured and washed merino sorts. Fine and superfine washed sold relatively on more moderate terms, and the anomaly in the catalogues was frequently observed of wools in the grease realising figures quite out of proportion to those paid for like descriptions of washed fleeces. It is manifest that for the present at least -the predilection of all sections of the trade is in favor of purchasing greasy wools. Cape produce being in full supply did not maintain the same regularity of value, and during the concluding week commanded muchness attention than Australian sorts. The result of the past series cannot prove otherwise than most satisfactory to all colonial shippers. They will naturally compare with interest tbe prices of Feb-ruary-March, 1880, with those of the corresponding months of the preceding year. In doing so, care must bo taken to make due allowance for the intrinsic superiority of the bulk of the Australian clip, 1879-30, thus far realised, to that of the clip 1878-79. This is specially noteworthy in the caße of many New South Wales and South Australian flocks. Accordingly, a deduction ■of at least Id per lb. ought to be made irom the difference between the prices of the two periods, in order to arrive at a just •conclusion as to the percentage of advance •established during the first series of 1880 or the corresponding series of 1879. The sales of Eiver Plate wool at Havre closed on the 18th instant after a duration of three days. The tendency of prices was again in an upward direction, a rise of about Hi per lb being established on January rates. Tallow. — Since the departure of last mail via San Francisco, the market bos been gradually losing strength, and quotations for Austrrlian descriptions are now fully Is per cwt lower. At the four public sales held during the month 4506 packages have been offered. Of these only 2371 were sold at auction, about 650 being subsequently disposed of by private contract. Home melted tallow, which has recently entered into Buch keen competition with colonial produce; has also declined in value to the extent of Is 6d per cwt. Russian sorts remain inactive at previous prices. We quote — P.Y.C. new, 44s per cwt; Australian mutton, fine, 35s 6d to 365; do do, medium, 84s to 355 ; do beef, fine, 34s 6d to 355 ; do do medium, 33s 6d to 345.

Leather and Hides — We quote- — Best - sides, averaging 14 to IG£ lb each, lid to 12d per lb; light do do, 9| to llf, lid to to Hid ; extra heivy do, 19 to 22, 11 Jd to 12d ; Beconds, do, 14 to 15f, lOd to 11* t. Basils have been in large supply, the total number catalogued reaching 169,933. Of these 143,760 found buyers at the full rates established in previous Bales. 'The market oloses firm, at the following quotations : — Best strained skins, 81 to 13£ lb per dozen, 14j<i to l7Jd per lb ; seconds, 9to 16, Hid -.to 13$ d j unstrained, 12 to 17, B*<i to lid. Preserved Meats. — A. fair business continues to be transacted. The demand for boiled mutton has slightly improved, tbe -smaller sized tins commanding the highest •prices. Whilst there has been a fair en■quiry for boiled beef, quotations remain unaltered. We quote — Boiled mutton, 21b tins, s*d to 6d per lb ; 41b, 4*d to sd ; 61b, 43d to sd. Boiled beef,' 21b tins, s*d to 5Jd per lb; 41b, 5d to 5Jd; 61b, 4*d to sd. The recent arrivalff of American compressed corned beef have been heavy, and, in view of the stocks on hand, buyers seem disinclined to pay the higher rates asked by holders. The arrivals for the four weeks have been 7662 cases from Australia, and 22,363 from New York. Prom the former •quarter additional shipments equal to 3105 cases are advised as on the way. Com Market.— The trade in foreign wheit during the past month has been inactive. For supplies actually arrived holders are asking full rates, under the impression that the existing scaroity and the moderate quantities known to be afloat and dup next month will. tend, to maintain -prices »t the present level. BpV<Jul«tion is,

however, quite dormant, and for cargoes to arrive at later periods there are few buyers, even at a considerable margin on present values. Tbe American stocks continue large, the visible supply being 27 million bushels, while the demand for the Continental markets shows a dißtinct falling off. and many cargoes are offered for re-sale by French bouses.