THE LONDON MARKETS.

New Zealand Herald, Volume LXIII, Issue 19349, 9 June 1926, Page 11

THE LONDON MARKETS.

BUTTER IN BETTER DEMAND. CHEESE PRICES STEADY. The Department of Agriculture has received tho following cablegram, dated June 5, from the High Commissioner for Ivew Zealand, London:— There is a better demand. Official quotations are New Zealand.—Finest salted : June 5. 172s to 174s per cwt; May 29, 168s to 170s. Unsalted: June 5, 174s to 1765; May 29, 170s to 1725. Other qualities: Juno 5, 164s to 1665. Australian.—Salted : June 5, 168s to li2s per cwt; May 29, 164s to 168s. Unsalted: June 5, 170s to 1725; May 29, 168s to 170s. Other qualities: Salted, •Tune 5, 144s to 1645. Unsalted: June 5 144s to 1625. Argentine.—Unsalted: JuneS, 154s to 160s per cwt; May 29, 150 s to 1565. Other qualities; June 5, 144s to 1525. Irish.—Salted: June 5, 168s to 170s per cwt; May 29, 164s to 168s. Unsalted: June 5, 170s to 1725. Danish.—June 5j 178s per cwt; May 29, 170s to 1725. Siberian.—June 5, 146s to 152s per cwt; exceptional, 1545; May 29, 146s to 150s. Cheese.—The market is steady. Official quotations are:—

Canadian.—Finest coloured and white (new): June 5, 80s per cwt; May 29, 88s to 90s. Coloured (old) : June 5, 106s; May 29, 104s to 106s. White (old): June 5, 106s to 108s; Mav 29, 104s to 108s.

New Zealand.—Coloured and white; June 5, 92s to 93s per cwt. Australian.—Coloured and white (in accordance with size): June 5, 88s to 91s per cwt; May 29, 89s to 91s. Estimated stocks of cheese on hand on June 1, at London, Liverpool and Bristol, were: Canadian and American, 23,100 boxes; New Zealand and Australian 56,100 crates, as against 15,700 and 60,250 at the same time last year. Shipments of New Zealand produce arrived this week per Rotorua and Waimana. Tallow.—The spot market remains firm. Present quotations are:—Mutton: Fine, 45s to 45s 3d per cwt; fair to good, 43s to 445; dark to dull, 41s 6d to 42s 6d. Beef: Sweet and/or mixed, 44s to 44s 6d; fair to good, 42s 3d to 445; dark to dull, 40s to 4ls 6d. Mixed: Fair to good, 42s 3d to 43s 6d; dark to dull, 40s to 41s 6d. Gut, etc., 37s to 41s. Fruit.—Tho market is fairly active. The Athenic and Tairoa shipments are clearing well. The Rotorua is unloading and the consignment is reported in good condition so far. The Argyllshire and Mamari also commenced discharging. Current prices are:—Cox's Orange, 14s to 20s per case; Cleopatra, 14s to 15s; Sturmer, 13s to 14s; Dunn's Favourite and Jonathan, lis to 13s; Delicious, lis 6d to 12s; Rome Beauty, Wolseley and Statesman, Us 6d to 12s 6d; Ribston Pippin, 9s to lis; Mackintosh, 7s to lis. The majority of pears ex Athenic were in fair condition, but the Beurre Bosc were very bad. Bourre Bosc brought 2s to 3s; Winter Cole, 2s to 7s; Barry pears, 5s to I 8s; Winter Nelis, 7s to 10s per tray. Hemp.—The Manila market is quiet and barely steady. "J" grade, JuneAugust shipments sold at £36. Sisal is slow. New Zealand is very quiet; highpoints afloat sold at £35 10s, with an easier tendency. The value to-day is £35; fair, £33 for June-August shipments. Wool.—The sales continue with the condition and prices fully up to the opening level. Beans.—The market is slow. English, best winter, are making 47s 6d, choicest spring up to 58s. New value 46s ex store. Oats.—Are slow of sale. English best white, is offered, at 33s 6d, new crop winter oats are progressing well, but spring sown are backward. No. 2 Canadian Western, May-JunS shipments are offered at 39s 3d. No business is reported. New Zealand , 27s 6d. FOREIGN EXCHANGES. Australian and N.Z. Cable Association. (Reed. 10.15 p.m.) LONDON, June 7. The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on June 3 and par:— June 7. June 3. ParBrussels, fr. ..159.13 151.87 25.225 Paris, fr 162.87 151,37 25.225 Stockholm, kr. . .18.18 18.17 18.159 Oslo, kr. . . .. 21.92 22.05 18,159 Copenhagen, kr. . 18.41 13.43 18.169 Berlin, r.m. . .. 20.44 20.43 20.43 Rome, lire . . . 130.50 126.67 25,225 Calcutta, pence . . 17 31-32 17 15-16 24 Yokohama, pence . 23} 23 3-16 244 Hongkong, pence , 27 1-8 271 Montreal, dol. . . 4,B<H 4.86 4.866 New York, do! 4.868 4.845* 4.866 Amsterdam, fl. . . 12.10" 12.10J 12,10 Batavia, fl, . . 12.081 12.08.66 —• THE METAL MARKET.(Quotations on June 3 in parentheses.) Copper.—Spot, £56 3s 9d (£56 3s 9d); three months, £57 Is 3d (£57 Is 3d). Lead.—Spot, £29 (£29 8s 9d); three months, £29 6s 3d (£29 12s 6d). Spelter.—Spot, £32 12s 6d (£32 10s); three months, £33 (£32 17s 6d). Tin.—Spot, £261 7s 6d (£263 17s 6d); three months, £260 (£262 17s 6d). Silver.—Standard, 29 3-16 d (30 l-16d) per oz.; fine, 32 9-16 d (32 7-16 d). WHEAT. Wheat.—Cargoes, firmed 6d to Is on an improved American market, closing with good Continental inquiry. Parcels were in good demand at 63 to 9d advance. Sales took place at 58s 3d to 61s. Liver-, pool futures—July, lis -o£d per cental; October, 10s 9d. LONDON WOOL SALES. POOR SELECTION OFFERED. * ! ' _____ Australian and N.Z. Cable Association. (Reed. 5.5 p.m.) LONDON, June 7, At the London wool sales to-day there was a poor miscellaneous selection. Withdrawals were frequent. Prices generally were unchanged. The. "Bradford market is very quiet owing to the coal strike,. Dalgety and Company, Limited, report having received the following cablegram from their London house, dated June 7:— The next series of wool sales will commence on July 13. , LONDON DAIRY MARKETS. FIRM WITH MORE BUSINESS. | " Both markets are firm and there is more business doing," is the report of the London dairy produce markets received by cablegram yesterday by Joseph Nathan and Co., Ltd., Butter is quoted at 176s and cheese at 935. Dalgety and Company, Limited, report having received the following cablegram from their London house, dated June 7 Butter: There is rather more inquiry. Since our last cablegram prices are 2s higher (now 1745). GERMAN BANK RATES. REDUCTION TO 6A PER CENT. Renter. BERLIN, June 7. The Reichsbank has reduced the discount rate and also the deposit rate to 6j per cent. CHICAGO WHEAT MARKET. A. and N.Z. CHICAGO, June 7. Wheat- —July, 1 dollar 41£ cents per bushel; September, 1 dollar 36 7-8 cents; Decembor, 1 dollar 33 7-8 cents.