THE LONDON MARKETS.

New Zealand Herald, Volume LXIII, Issue 19415, 25 August 1926, Page 9

THE LONDON MARKETS.

BUTTER DEMAND SLOW. CHEESE QUIET BUT STEADY. The Department of Agriculture has received the following cablegram, dated August 21, from the High Commissioner for New Zealand, London;— Butter.—Th« market is slow. Official quotations are:— New Zealand.—Finest salted: August 21, 172s to 174s per cwt.j August 14, 174s to 1765; August 21 (exceptional), 1765. Unsalted: August 21, 172s to 1765; August 14, 174s to 1765. - Other qualities: August 21, 140s to 1645. Australian.—Salted: August 14, 166s to 170s per cwt.; August 21, 166s to 170s. Unsalted: August 21, 168s to 1725; August 14, 166s to 1725. Other qualities: August 21, 136s to 1565. Canadian.—August 21, 165s to 168s per cwt,,; August 14, 1663 to 170s. Argentine.—Unsalted: August 21, 154s to 160s per cwt.; August 14,154s to 160 S. Other qualities: August 21, 146s to 1525. Siberian.—August 21, 136s to 144s per cwt.; August 14, 138s to 1465. Irish.—Creamery: August 21, 164s to 168s per cwt.; August 14, 164s to 170s. Unsalted: August 21, 164s to 170s; August 14, 168s to 1725. Danish.—August 21, 176s to 178s per cwt.; August 14, 177s to 180s. Cheese.—English continues in good demand at unaltered prices. Colonial si quiet but steady Official quotations are:— Canadian.—Finest coloured: August 21, 84s to 86s per cwt.; August 14, 86s to 88s. White: August 2i, 86s to 88s; August 14, 88s to 90s. New Zealand.—Coloured: August 21, 84s to 85s per cwt.August 14, 85s to 86s, White': August 21, 87s to 88s; August 14, 88s to 90s Casein.—Present quotations are : New Zealand.—£ss to £6O. French: £55. Danish: £SO. Tallow. —The spot market is steadier, with a moderate demand at auctions. Present quotations are unchanged except for the following:—Mutton : Fine, 45s per cwt. Beef: Fair to good, 42s 6d to 43s 6d. Mixed: Dark to dull, 40s to 41s. Eggs.—The market is firm with a moderate demand. Current prices are as follow:—English, Danish, Dutch and French. 16s 6d to 19s per long 100. Irish and Belgian, 12s 6d to 17s 6d. Polish. Russian, Chinese and Lithuanian, 10s 6d to 14s. Hemp.—The Manila market continues firm . "J" grade, August-October and September-November shipments, sold at £44 10s to £45. The sisal market is quiet but steady. The nominal value of No. 1, Tanvanyika and Kenva is £43. The New Zealand market is firmer in sympathy with Manila and business has been done in hitch points at £37 10s ;• fair, £34 10s. Stocks in London on July 31 were 19 tons, as against 163. tons last year. Wool.—The Bradford market is firmer and good business has been done. Present quotations for topß are:—64's (Merino), warp. 4s Id per lb.: 64's (Merino) average, 3s lid: 56's (surer halfbred), 2s 8d: 50's (fine crossbred), 2s Id ; 40' a prenared. Is 7Ad Shipments of New Zealand produce arrived this week ner s.s. Arawa, Hororata., Port Napier and Winchester. FOREIGN EXCHANGES. Australian" and N.Z. Cnblo Association. (Becd. 5.5 pim.) LONDON. Aug, 23 The following'rates on foreign exchanges are current to-day, as compared with the cabled quotations on August 19 and par:—' Aug. 28. Aug. 19. Par. Brussels.fr. .. 178.02 ' 178.25 25.225 Paris, fr. .. 172.37 171.25 • 25.225 Stockholm, kr. . 18.15 18.15 . 18.159 Oslo, kr, .. ... :. 23.16 , 22.15 18.159 Copenhagen; kr. 18.28 18.28 : 18.159 Berlin, r.m. . . 20.40 v - 20.41 r. 20.43 Rome, lire 150J2 148.00 25.225 Calcutta, . pence -18.06 18.00 . 24 Yokohama, pence 23,11-16 2S| ' 24J Hongkong* pence 26 1-8 . ■.! 26 1-8 tMontreal, dol. .. 4.84J 4.85 3-8 4.866 New York, dol. 4.85 11-16 4.86 4.866 Amsterdam, fl. . 12.11$ 12.117-8 12.10 Batavia, fl. .. ».. 12.08J 12.06* 12.10 THE METAL MARKET. (Quotations on August 19 in parentheses.) Copper.—Spot, £SB 18s 9d (£59 Is 3d); three months, £59 13s 9d (£59 16s 3d). Lead.—Spot, £32 15s (£32 16s 3d); three months, £32 15s (£32 7s 6d). , Spelter.—Spot, £34 5s (£34 7s 6d)j three months, £34 10s (£34 l3s 9d). Tin.—Spot, £294 2s 6d (£295 ss) 5 three months, £2BB 7s 6d (£289 2s 6d). Silver.—Standard, 28 13-16 d (28. 9-16 d) per oz.; fine, 31 l-8d (30 13-l6d). Gold.—B4s 10id per oz. ■ r WHEAT. Wheat.—Cargoes are inactive and 3d to 6d cheaper in sympathy with America. Parcels are in poor request and easier J BRADFORD TOPS. The Bradford tops market is firm. There is good demand for low crossbreds. DAIRY PRODUCE. LONDON MARKET PRICES* [BY TELEGRAPH.—PRESS ASSOCIATION.] WELLINGTON. Tuesday. The New Zealand Dairy Produce Board advises having received the following cable from the London office of the board dated August 21 : Butter. —New Zealand, 172s to 1745; Australian, 166s to 170s; Canadian, 165s to 168s; Argentine, 154s to 160s; Irish, 164s to 168s; Danish, 176s to 178s; Dutch, 160s to 1645; Esthonian, 160s to . 1645; Latvian, 156s to 160s; Siberian, 126s to 1445; all spot prices. The market is quiet and slow. Retail rates aro Is 8d to Is 9d. The total of all butter imported into the United Kingdom for July is 28,000 tons, compared with 23,000 last year. Cheese.—New Zealand, white, 87s to 88s; coloured., 84s to 85s. Canadian, white, 86s to 88s; coloured, 84s to 'B6s; all spot prices. The market is quietly steady. The retail rates are lOd to lid, CANTERBURY MARKETS. MORE ACTIVITY IN SEEDS. [BY TELEGRAPH. —PRESS ASSOCIATION.] CHRISTCHURCH, Tuesday. After an unparalleled period of somnolence the seed market has shown some signs of life and a fair amount of business has been done in farmers' orders. The activity relates for the most part to clover, and cocksfoot, and is' confined to local brders for spring sowing. While there is a tendency to firm values,- there is no quotable change to record. There has been little inquiry so far for ryegrass. Oats maintain firm tones, and A Gartons are worth-4s 4d. f.0.b., s.i. and B's 4s. A few farmers are-coming in with samples, but most of the crop is in merchants' hands. \ , . _ Although there has been some inquiry from Auckland, and a fair amount of business has been done, the potato market is, if anything, weaker. Northern business has been on a basis of £4 15s f 0.K., s.i., for this month; The Kurow is due to sail to-morrow from Lyttelton, but on account of heavy shipments at Southern ports her space has been cut down here, The Waipori wjJl follow about* the eiid of the month. The slump in price is-now influencing more Auckland inquiry.- A few farmers are coming forward and offering at £3 15s a ton, which is not available at the moment.

Sydney advices are to tile effect fhat the Waihora'a big, shipment la-st 'week J opened up in a satisfactory "con'difiotf, and., the eai'lier cabled price, of £ll to"; £l2 is still maintained. The Kawatiri is duo to sail from Lyttelton to-morrow with approximately 90001 sacks from -that.-port, Of which 2000 will go out of tjtie present stocks in store.' ' The limaru complement was 9658, sacks. : ~ '