THE MARKETS

New Zealand Mail, Issue 1536, 7 August 1901, Page 33

THE MARKETS

The Agricultural Department has received th e following cablegram from the Agent-General, dated London, 3rd in** stant: —“Average prices to-day Canterbury mutton, 3§a; Dunedin and Southland, 3|d; North Island, 2§d; lian, 2§d; River Plate, 2Jd. The mutton market is very dull. There is scarcely any demand for mutton. New Zealand lamb, Canterbury brand, 4%- d; brands other than Canterbury, 4|d. The lamb market is depressed. There is a dull s ale for heavy carcases. Supplies of home-grown lambs are heavy, and are lowering the prices of New Zealand iambs. Beef—-Hind-quarters, 3£d ; fores 2d. The beef market is* very dull. There is scarcely any demand for beef fores. Supplies of American chilled beef are large. The hemp market is firm —good fair Wellington grade, on spot, £26 ; stock, 246 tons against 1357 last y^ar; ‘fair current Manila,’ £32. There’ are signs of. improvement in the price of butter. Russian shipments have been heavy. Butter prospects for next season are encouraging. There is a better demand for cheese.

Messrs W. Weddel and Co.'s report at June 21st records the arrival by the Wakanui of 3432 boxes of JNew Zealand butter, -which was largely put into cold store at prices from 100 s to 102 s, acj • cording to quality. Continuing, the report says:—"Continental of butter for the last three weeks have been 70,000 cwt, 62,000 cwt and 55,» 000 cwt respectively. The deficiency of s the Home supply of butter in the' United Kingdom may be deduced from the fact that for the four weeks ended Ist June the imports were 57,383 cwt in excess of last year, and 28,882 in excess of the year before, and yet with the ex* ception of Danish, prices are higher than last year. In fact, Danish butter is far ahd away the best value of any butter on the market to-day, and the mystery to everybody is why the Danes are Gelling at 5s to 10s per cwt below market value.” The demand for New 'Zealand cheese showed a decided. im» movement, especially for coloured, which sold at 43s to 44s ; white 47s to 48s. From September Ist, 1900, to June 21st, 1901, the United Kingdom had imported 174,015 cwt land butter, an increase of 12,000 cwt on the imports for the corresponding period of last year..

The Colonial Consignment and Distributing Company’s report on the London market at the 21st of June states that “imports of live cattle last

ing 10,708 head, and Canada 2829, each week now adding to the increased imports over last year, States bullocks alone being 53,762 head in excess. Live sheep also came in large numbers, United. States and Canada both showing much increased imports compared with last year. Chilled beef was again in excessive quantities, United States sending 72,882 cwt and Canada 1381 cwt, Germany and Holland also, sending a little- Dutch mutton was not heavy” 3438 cwt only. United States pork, 5551 cwt, was again much increased coma pared with recent receipts. English and Scotch mutton are slightly cheaper and not meeting a free sale. Dutch mutton makes about the same price as English, its size being in its favour. English lamb at times has been cheap, numbers of unfinished carcases from the West of England making little money, down to 6d and 6ld per lb.”

Messrs Levin and Co. report having offered a small patalogue of wool and skins. Prices were firm at recent rates, with a slight upward tendency, pro* bably due to the light supplies now coma ing forward. Quotations are: —Good crutchings 2d to 2-Jd; merino do, Id to lfd; good crossbred skins, 3d to 3jd; medium do, 2£d to 3d; dead skins, 1-J-d to 2d.

Messrs Murray, Roberts and Co. report having offered 20 hales of wool and 1100 sheepskins at yesterday’s sgle. The wool consisted chiefly of crutchings, values for which remained unchanged. There was an improved demand for skins, and good lines sold at Id . ad* vance on recent prices. Quotations are : —Wool—Crutchings, good, 2d to per lb, -up to 2% d for superior; do, inferior, rd to lid per lb. Skins Merinos and halfbreds, 3fd to per lb; crossbreds and lambs, 3£d to 31 d per lb: short and inferior, lid to 2ld per lb; pelts, 4d to 7d each. The next sale will be held on August 16th.

The New Zealand Loan and Mercantile Agency reports as follows : -—At our usual fortnightly sale we offered a small catalogue of wool and sheepskins. Bidding was more animated than for some time past, but there is no quotable change in prices to report. The following i s the range of prices received: —Clean crutchings, lfd to 2id; crutchings, inferior, Id to lid; pieces, lfd; locks, Id to Id; stragglers’ fleece to 3ld. Sheepskins—Good sound pelted crossbred. 3d to 3^d; lambs, from lid t 0 2ld; hoggets, 2d to 3d per lb ; dead skins, Id to 24d. The quotations are all per pound.

Messrs Weddel and Co., in their market report, dated London, June 28th, say : --- Grain, wheat, etc. —Owing to the continued pressure to sell from America, the market here has been extremely quiet, and prices have given way further. A large number of vessels with white wheat are now arriving, and in the face of this operators are confining their purchases 1° the narrowest possible limits. The prospects of the American crops are very favourable, and this is the chief factor at present which buyers take into consideration. The fact that the French crop is not in a particularly satisfactory condition is hardly accorded a passing notice by operators. Should it become necessary for France to import wheat in any quantity, the aspect of the market would be quickly changed. The outlook generally, however, is not bright, although at the close there is a firmer tone and a shade more money might be obtained. The weather in the United Kingdom continues fine and gives promise of a fairly early harvest. Owing to the lack of rain the yield may be light and the straw short. Maize is dull and rather easier. Barley is quiet, while oats are in fair request at a slight advance on late rates.

Messrs W. a'nd R. Fletcher, frozen meat importers, of West Smithfield, report under date June 29th: —Business may be described as exceptionally quiet considering the time of year. Supplies of both cattle and sheep are in excess of demand, "while their quality is very much below the average, due to the drought which is now becoming a serious matter for Home agriculturists. With respect to values, anything very good in the way of beef or mutton still command high prices, hub for secondary classes it is difficult to find a market. Choice lambs are scarce and dear. At the foreign cattle markets much heavier supplies have come to hand during past ten davs = chiefly from U.S. This, coupled with the depressed condition of the principal meat markets, has led to a decline in values of nearly 4d per stone compared with orices stated in last report. For best States bullocks the extreme top figure is 3s lid, and for fair to good, useful beasts, 3s 9d. Canadians 3s 8d to 3s lOd, the latter price being exceptional. A lew consignments of American and Canadian sheen have experienced a dud sale at P ric es ® equal & lOd to 4s 2d per stone (81b). Some good oualitv lambs make up to 4s 4d and 4s 6d at Birkenhead.

(By Telegraph.—Own Correspondent.) DANNEVIRKE, August 2. At to-dav’« stock sale held by Mr Ros e a total clearance resulted. Quota-tions—Three-year steers, £4 15s; twoyear steers, £3 15s ; fat cows, to £5 16s ; two-year heifers in calf, £3 19s; store cows, £3 10s to £4; small weaners, 28s; prime fat ewes, 13s Id; two and fourtooth store wethers. 13s: two-tooth ewes in lamb. 13s 6d: full-mouth ewes