THE LONDON MARKETS.

Lyttelton Times, Volume CV, Issue 12402, 16 January 1901, Page 11

THE LONDON MARKETS.

1-j » I f (“Canterbury Times.”) V LONDON, Nov. 30.. ' GRAIN AND SEEDS. . During the . first few days of the month the Wheat market showed some improvement, but the. reports on which this was based. were soon modified, the news oi great damage, to the Argentine crops particularly, and! large supplies, a fall in the American markets and other considerations caused a relapse which leaves closing values at 6d to Is per quarter below those of three weeks ago. New Zealand wheat has suffered the full- decline, and quotations are virtually nominal at 29s fid to 30s for Tuscan and 28s 6d to 29s 6d for Hunter’s and Pearl, per 4961 b, ex store. The Corryvrecban cargo, sold at at 28s 6d per 4801 b. c.i.f., as on resale.' Forward -business in. New Zealand shipments is at : a? standstill.- 'Re-sales of Victorian floating parcels are-reported at- 28s 9d. and 295, c.i.f. Australian, ex store, ;is:.du}l,7,at 31s to 31s fid. Last week’s average price of English wheat waa-27s 2d per 4801 b, as against 27s lid thtefi weeks previously and 25s Bdl in. the corresponding week of 1899. Deliveries are small owing to the wet weather delaying threshing. Oats are firm at fid to 9d per quarter ■ advance, owing to the War Office demand for South Africa. New Zealand, good Canterbury Canadians 27s to 28s, ordinary Bluff 25s fid to 265, and Sparrowbills 23s to 23s fid, per 3841 b; Duns 17s fid to 18s fid per 3361 b, and Danish 17s fid’ per 3201 bex store. New Zealand barley is unchanged, with slight inquiry, at 22s to 32s per 4481 b, according to grade. Beans steady at 32s to 34s per 5041 b. Peas, seed, 45s to 50s, maple 36s >to 38s, Duri..27s. 1;o)28b per 5041 b, Cocksfoot seed is firmly held, but advanced, prices are not obtainable; 17-181 b seed is held for 32s to 34s and new for 36s per cwt, but- no business is doing, and offers for lower grades are below sellers’ ideas. NEW ZEALAND HEMP. During the past three weeks there has been a continued demand, and prices show a further advance of £1 10s to £2 per ton. Owing, however, to a relapse last week in the manila market some of this advance was lost, but a firmer tone is apparent at the close, and a general recovery is probable. Privately about 150 tons have ifcfeen sold at £23 to £24 per ton c.i.f., chiefly at the former price, and at public sales 650 bales were offered and sold —fair £23 to £23 10s per ton, good fair £24 to £24 10s per ton, and fully fair £24 10s to £25 per ton. There is still a good inquiry for forward hemp, but very little offering. Manila, after a decline last week of £2 to £3 per ton, closes firmer; spot £33 per ton, October-Decem-ber £3l 10s per ton c.i.f. WOOL. There is an improved private inquiry for most descriptions of wool, but transactions are confined to a few: lots bought in at the October-November sales, for which sellers’ valuations have, been realised. A more confident tone is making way in the consuming districts, though it cannot be said that the financial strain has altogether disappeared. At the Antwerp sales on Nov. 13 to 22 prices were on a level with last London sales’ rates. FROZEN MEAT. The demand for wheat has been adversely affected by mild, damp weather, and large supplies of Continental mutton, and beef from all sources, have depressed prices of Home-fed meat, though the supply of this has been small. Beef has been very dull of sale. The supply of frozen mutton, however, has been so much below the usual volume that, notwithstanding the low price of other descriptions, it has been possible to advance values, and 1 in this advance lambs have participated. Smithfield quotations are as follow:—Mutton: Canterbury best brands, 48-561 b, 4£d to 4|cl; 56-641 b, 4|d to 4|d; 64-721 b, 4|d to Dunedin and Southland, 4|d. “WME ” and Longbum, best weights 4£d, heavies 4d; ordinary North Island 4d to Lambs : Prime Canterbury, s|d to heavies s£d to s|d ; Australian new season’s ordinary to prime 6d to fid. Beef: New Zealand, Mnd-quar-ters 3|d to 4d, fore-quarters to Forward business in lambs is checked by the high prices, and reports of a good lambing in New Zealand; in mutton there is a disposition to act upon the prospects of short supplies in the ensuing season. Further consignments of New Zealand frozen pork have arrived. It appears to be of good quality, a parcel from Christchurch especially so, but it is stated that retailers complain that it turns out badly in cooking. Some of the Christchurch pigs have sold at about sd, while. English of similar character fetched fid to The market is heavily supplied with rabbits from Australasia, with “ sundries ” from America and the Continent. Sheep’s plucks, from Mataura. New Zealand, and tripe, from Aberdeen, New South Wales, have also appeared upon the market to compete with mutton, lamb and beef. TALLOW. . At the last three series of weekly auctions 5663 casks of Australasian were offered, of which 3131 casks were sold. The demand has been good, with improving prices, until this week, when realisations oy speculators, and other causes, checked the progress. The market, however, closes firm at the allowing quotations:—Mutton.—Good to ine New Zealand 28s 3d to 295, do Ausralian 27s fid to 27s ,9d, fair to good fibs o 27s 3d. Beef.—Good to fine 27s 3d to 27s fid, fair to good 25s 9d to 275. DAIRY PRODUCE. The late arrival of the Cuzco, from Australia, and Whakatane, from Now Zealand, :ias disorganised the market for Australasian butter-, the demand for which cannot be supplied. Messrs vVeddei and Co. report that prices ha ve_ advanced 2s per cwt on the week, in sympathy wiih’cihe gtrilraT rise in price of butter. “Choicest '' may iow be quoted at UCs to 112 s per cwt, but the greater part is - sold at 110 s; ■ Finest” brings 102 to lObs. Canadian, butter may be quoted in Manchester ar UOs to 112 s fox “Choicest,” but in L t. lon 102 sto 104 sis the top value. The supplies from Canada are falling rapidly .way, and the total import of Canadian ..utter since May 1 this year is 5100 tons oelow the corresponding period of 1899. : Jie price of Danish is 14s per cwt alvve Australasian, and it is not pr.-bubK. that .ay higher value -will be reached ibis side ■, Christmas. In the secondary quality ,f butter there is a very big demand for Russian or Siberian, which has been such ,;ood value for some time chat other seeotjg, liiiy varieties have been pu.hed aside in favour of the new comer. " The pr.ee of Russian, however, is advancing and the quantity diminishing rapidly, so .that American, which is also very good value, ..ill have a chance of meeting a better demand. Supplies of Argentine butter are very late this year, only about 325 cwt havtoff arrived since Sepi 1, while fast year !325cwt arrived, or just 1000cwts more. There is more demand this week, after a ’nil period, for Canadian cheese on the :pot, and a firmer tone, but no real change n values, which augurs well for the market as soon as the Christmas demand sets n. Current prices are, for “Choicest” 54s to 555, for “Finest” 52s to 555.