THE LONDON MARKETS.

Lyttelton Times, Volume CV, Issue 12428, 18 February 1901, Page 3

THE LONDON MARKETS.

* ■ ■ [From Our Correspondent. l , LONDON, Jan. 11. { GRAIN. The market for wheat has been decidedly, firmer since the Christmas holidays, and there is a considerable improvement in prices, due chiefly to an advance in America and unfavourable reports, yet to be confirmed, regarding the Argentine crops.. The market remains steady at the; ad- < vance of Is to' Is 6d per quarter on the rates of three weeks ago. '■' The Imperial average for last week .was 26s 5d per 4801 b, which was Id higher than- the pre-' vious week's average arid 8d higher than the average for the corresponding week last year. There' is a fair demand,for Australian and Nutv Zealand wheats on spot at for Australian 31s to 3.1 s 6d and for New, Zealand, Tuscan 29s 6d to 30s 6d and. Hunters and Pearl 28s 6d to 29s 6d per 4961 b, ex, store. Movements of Australasian wheat off coast and to arrive are reported as follow:—Australian, off coast—- , Fennia. from Port Germein, 17,599 '•quarters, after clearing for Belfast, was sold at 29s 9d. and. ordred to Birkenhead; for shipment—9soo otfarters Victorian, Ja'n.Feb. shipment, and 11,000 quarters South Australian, January shipment, sold at 30s 6d per 4801 b, c.i.f.", and several parcels of Victorian wheat per steamers' and sailers to London for Nov., Dec, Jan. and Feb. at prices 'from 29s to 29s 6d per 4801 b, c.i.f. New Zealand, off coast. Lady Isabella, from Lyttelton,'lo,B3s quarters, sold at 29s 3d for Hull; for shipment, Bessfield, 9258 quarters sold at about 29s 3d, and Macduff, 8366 quarters, at about' 29s 6d per quarter, c.i.f., United Kingdom, for orders. Oats are firm at an advance of about 6d to Is per quarter, and with a War Office demand promise to be higher.. New Zealand sorts are in request, but are in short supply. Good Canterbury Canadians 28. s to 28s 6d, ordinary Bluff 26s 6d to 275, and SparroivbiJls 23s 6d to 24s,per 3841 b. Duns 18s 6d to 19s per ,3361 b,, and Danish 18s per 320:b. There has been some inquiry for New Zealand barley and best malting- quality is quoted at 29s 6d to 30s per 4481 b, ex store. New Zealand beans are in good demand at.33s to 3,4 s for old and 32s to 33s for new per 5041 b, ex store. Pess, steady at 27s to 28s, for Dun per 5041 b. The" Cocksfoot seed market is lifeless, 17-131 b seed is quoted nominally at 32s to 34s per cwt. WOOL. . ' Though little business is doing, pending the opening of the sales on Jan. 15, there is a better feeling in regard to fine wools,, which have had for the last few weeks a distinctly upward tendency, while the coarser crossbred.* are firm. Stocks in consumers' hands are. reported to ho very low, •;ind the: prosppct for t the."coming sales . is - , favourable. The arrivals are 185,000 bales, of which 30,000 bales are New Zealand and 120,000 bales Australian produce; \vith o!d stock the ounntity available is "339,000 hales. FBOZEN MEAT. Messrs Gordon, Woodroffe and Co. report a dull trade during the holidays but an improved tone during .-the last week! Austral ban iambs are sailing-freely at late prices (5d to s|d for ordinary and up to for special brands). The quality is very .irregular, but a, largo percentage are' above the average. Reports received from the colony by the last San Francisco mail point to light shipments of New Zealand lambs during this and next month, cosequently early arrivals should net good returns to the shippers. As, however,' there seems every prospect of abundant supplies "after :'February sailings, it is not anticipated here ■that opening values will be maintained for any length of time. Buyers are therefore i not inclined to operate forward at fancy quotations, but prefer awaiting the course, of events. Supplies of New Zealand mutton are light, and there has been good competition for parcels arriving, per Kumara, Waimate and Wakanui. C.i.f. sale's are." few and far between, offerings from the colony being very restricted. Smithfield' spot values are as follow:—" Eclipse," 4872!b, 4Jd; "C.M.Co.V &/or "Belfast," 48-721 b, 43d; "Crescent" &/or "Crossed Keys," 48-721 b, 4|d; "W.M.E.." 50-701 b, 4-fd; other North Islands, 50-701 b, 4-4*3 per lb. For Australian mutton the market remains unchanged, present quotations being 3|d to 4d per lb on-.Smithfield' Market. For frozen beef, the weather has been more favourable during the last week, and some improvement in the demand has been' noticeable. Stocks of. New Zealand and Australian, and also. River Plate, frozen beef are heavy. Smithfield prices:—New Zealand, hindquarters • 3|cl- to .fore--, quarters 3sd to 3|d; Australian, hindquarters 3-|d to■ 3gd, forequarters 3|d to 3|d per lb. ■ TALLOW. At the public sales on Jan. 9,' 2389-casks were offered, of which 1305 casks were sold under the hammer. The, tone of the. market has improved considerably during the holiday interval, and prices realised show an average advance of 6d per cwt on those obtaining at last sales. . Stock of tallow, all kinds, in warehouse London, Dec. 31, 23,025 packages, against 17,401 in 1899 and 26,260 in 1898. Current quotations:—Good to fine mutton, New Zea.la.nd, 29s to 29s 9d; do Australian, 28s 6d to 29s 6d ; fair to good qualities, 26s 9d to 28s; good to fine beef, 27s to 28s; fan: to good beef, 26s to 26s 9d per cwt. ~ DAIRY PRODUCE. Messrs W. Waddel and Co. state that there has been a better demand for Australian and New Zealand butter/ especially for strictly " choicest" brands, which have in consequence risen about 2s per cwt, and are now quoted at 114 s. Secondary quality also has advanced from 90s and'92s to"96s-and 98s. The demand from the provinces continues strong, and it is very'eyident supplies are by no means large'; in many cases the floors of provincial wholesale houses are almost bare. Until supplies increase much more rapidly than at present brisk markets must prevail.. Although -supplies from Australia and New Zealand are very large, the total imports into the country are not so. Last week the imports from Australia alone exceeded those from Den.nark, while those from Australasia amounted to 28.742 cwt, against a total of 40,180 cwt from all foreign countries combined. During the present month the total import* of Australasian butter will be 93,230 cwt, against 123,769 cwt last January, which shows a shortage of 61,078 boxes. Of this shortage 59,796 are Australian, New Zealand being only 1,282 behind. There is nothing- to note respecting any improved demand in Canadian cheese. Stocks in retail hands- sre lighter than' usual, and this augurs-well'for the spring trade. New Zealand cheese on the spot is making 53s to 54s for "choicesb'-Vqualityi-;-

NEW ZEALAND HEMP. There is a steady tone in the markel with a mod' inauiiv for EBot .and near £

hand parcels. Fair sales have-been made at- £2l -10 - for- good fair, and £2O, 10s for fair, ex .warehouse- Superior, soft and bright, is quoted at £22 10s''to £23, c.i.f., terms, e- warehouse.