WOOL TRADE REVIEW

New Zealand Herald, Volume LXIX, Issue 21345, 21 November 1932, Page 5

WOOL TRADE REVIEW

BETTER PRICES POSSIBLE

NEXT WEEK'S LONDON SALES

(Received November 20, 5.5 p.m.) LONDON, Nov. 19

The London representative of the Australian Woolgrowcrs' Council, Mr. \V. P. Devereux, reports that there is little change in the wool markets. Offerings are not excessive, and this should strengthen prices at the opening of the sales iri London next week. At Bradford the export of tops continues satisfactory. Merinos arc firm.

QUOTATIONS FOR WHEAT

LONDON AND LIVERPOOL

MARKETS IN AMERICA

(Received November 20. 6.35 p.m.)

LONDON, Nov. 19

Wheat.—Cargoes are quietly steady and prices are unchanged owing to the decrease in the quantity afloat. Parcels are in poor demand and prices are occasionally lower. Futures: London, December, 23s 3d a quarter; February and April, 22s 4£d. Liverpool, March, 5s a cental; May, 5s lgd.

(Received November 20, 5.5 p.m.) CHICAGO, Nov. 19 Wheat.—December, cents a bushel; May, 48 5-8 cents; July, 48 7-8 cents. The New York quotation for cash is 53| cents.

DOLLAR EXCHANGE

DOMINION RATES REVISED

COMPARISON OF QUOTATIONS

Current dollar exchanges as quoted by the New Zealand banks are as under, compared with previous quotations:— U.S. Dollars to £1 Nov. 9 Nov. 12 Nov. 16 Nov. 21 Buying . . 3.40 3.42 3.42 3.40 Selling . . 3.20 3.22 3.22 3.20 Canadian Dollaia to £1 Buying . . 3.90 3.82 3.88' 3.89 Selling .. 3.70 3.62 3.68 3.69 The rates quoted are for the conversion of dollars into English currency or English currency into dollars. Exchange is charged or allowed on drafts or bills drawn in dollars in the same way as if drawn in English currency.

THE LONDON MARKETS

FROZEN MEAT

(Received November 20, 5.5 p.m.)

LONDON," Nov. 19 To-day's quotations for frozen meat are:—

New Zealand Frozen Sheep.—Canterbury and North Island selected crossbred wethers and maiden ewes, 481b. to 561b., 4sdj 571b. to 641b., 4£d; 651b. to 721b., 4d; North Island crossbred wethers and maiden ewes, 481b. to 561b., 641b., 4d; 651b. to 721b., 3£d; ewes, under 481b., 3fd; 481b. to 641b., 3£d; 651b. to 721b., 3d.

Australian Sheep.—First quality crossbred and/or Merino wethers, 401b. to 651b., 3£d; 301b. to 551b., 3|d. Argentine Sheep.—First quality crossbred wethers, 431b. to 641b., 3Jd; 651b t to 721b., 3J,d. Patagonian Sheep.—Wethers, and/or maiden ewes, under 501b., S^d; 501b. to 601b., 3ad; ewes, 401b. to 501b., 3|d.

New Zealand Lambs.—Canterbury, 361b.' and under, 7d; 371b. to 421b., 6d; 431b. to 501b., second quality, average 301b., 5Jd; other South Island brands, 361b. and under, 7d; 371b. to 421b., s|d; 451b. to 501b., sd; selected North Island brands, including Downs, second quality, average 301b., 5Jd; other North Island brands, first quality, 361b. and under, to 421b.. sAdsecond quality, average 301b., s<d. 2 _ h

Australian Lambs.—Victorian, first quality, 361b. and under, 6^d; 371b. to 421b., s|d; other States, first quality, 361b. and under, sgd ; 371b. to 421b., sd; Victorian, second quality, 361b. and under, s|d; other States, second quality, 361b. and under, sd; all States, third quality, sJd.' Argentine Lambs.—First quality, 361b. and under, 6d; 371b. to 421b., sgd; second quality, average 301b., s|d. Uruguayan Lambs. —First quality, 361b. and under, third quality, averago 301b., 4gd. New Zealand Frozen Beef.—Ox fores, 1601b. to 2201b., 3d; ox hinds, 3gd. Australian -Frozen Beef. —Ox crops, under 1001b.,. 3£d; over 1001b., 3£d; ox hinds, under 1601b., 4d; over 1601b., 4£d. Argentine Chilled Beef.—Ox fores, 1601b. to 2201b., 4d; ox hinds, 1501b. to 2201b., -6jd. New Zealand Pigs.—First quality, 601b. to 1001b., averago 901b., 53d: 1011b. to 1201b., sid. Australian Pigs.—First quality, 601b. to 1001b., averago 901b., sgd; 1011b. to 1201b., s£d. All other sorts are unchanged. The weekly quotations for the abovementioned classes of frozen meat are based on actual sales of wholesale quantities of carcases of mutton or lamb, or of quarters of beef delivered to Smithfield market and/or London stores. They are compiled by tho Quotations Committee, Smithfield.

To arrive at the equivalent ex ship values, one farthing per pound should be deducted from the prices quoted above. Quotations given represent tho average for the week and are not selected lines, but for parcels fairly representative of the bulk of shipments now on offer.

COTTON, RUBBER, JUTE, ETC

((Quotations on November 11 in paren-

theses.) Cotton.—Spot, 5.61 d (5.60 d) a lb.; De comber delivery, 5.32 d (5.37 d). Rubber.—Para, 5d (6H) a lb.; plantation and smoked, 29-16 H (221-32 d). .Tute.—November-December shipments, £ls 10s (£l6 ss) a ton. Copra.—November-December shipments South Sea, £l4 5 S (£l4 7 S 6d) a ton; plantation, Rabaul, £l4 12s 6d (£l4 10s) Linseed Oil.—£l7 10s (£l7 15s) a ton. lurpentine.—sßs 6d (58s 6d) a cwt. RABRITSKIN SALES

At the London rabbitskin sales 2700 wero 6ffered, and 1100 were sold. The market was quiet with fair home trade, but poor Continental demand. Hatters'' sorts and pulling sorts generally were easior. Unpulled sorts were firm to 5 and 10 per cent advance over September rates.

The Bank of Now Zealand has received the following advieo from its London office as at tho close of business last week:—Wethers: Demand and prices are improving. Ewes: The demand is falling off. Lambs; The market is firm, and the advance in prices has checked the demand. Quotations: —Wethers, light, 4d to 4J,d per lb.; heavy, 3id to 4d; ewes, 2jd to lambs, twos, to 7d; eights, 5Jd to 6d; fours, 5d to s|d; seconds, 5d to s^d.

VALUE OF THE POUND On the latest quotations £1 in Auck land is worth approximately : s d 18 0 in London. 22 9 in Sydney. 12 2J in New York. 13 11J in Montreal. 12 2| in Paris. 12 3 in Berlin. 80 li in Yokohama. 12 3 in Batavia.