THE LONDON MARKETS.

Otago Daily Times, Issue 9383, 24 March 1892, Page 2

THE LONDON MARKETS.

From circulars to hand by the Brindisi mail, dated London, February 5, we make the following abstracts :— Wool.—The net available quantity for the auctions which opened on the 26th January was 303,600 bales, of which 26,300 were from New Zealand. Greasy merino receded 5 per cent., except for finest grades, and faulty receded fully id per lb all round. Scoured show a reduction of Id to Id per lb. As regards crossbreds the supply is very limited, and with good competition values have undergone no material reduction as compared with last sales' rates. There is now less American demand for the fine qualities, but middling and lower grades are, on the other hand, well competed for. The bulk of the New Zealand new clip catalogued proved to be well grown and fairly light in grease. Wheat —Increased depression in all descriptions, stocks having increased and shipments being large. New Zealand Oats.—The recent large arrivals more than sufficed to meet current requirements, while at the same time the low price of maize tended to depress values. A decline of 6d to Is per quarter has been accepted for most qualities, Quotations: 26s to 28s 6d for fine heavy, and 24s to 25s for light to inferior parcels per 3S4lb, ex store. Butter.—With much milder weather there has been a marked reduction in values, sales having been made at fully 10s per cwt. less money than was obtainable a fortnight ago. Recent arrivals from Australia and New Zealand have suffered in sympathy with other descriptions, quotations showing a loss of about 10s per cwt. Danish, 126s to 1325; Normandy, 130s to 1345; American (creameries), 94s to 106s; Australian, 108s to 116s; New Zealand, best, 100s to 112s; secondary, 80s to 96s per cwt. Cheese.—Supplies are short and are firmly held, finest American and Canadian being quoted at 56s to 5Ss per cwt. A small shipment of New Zealand in good order made 52s to 56s per cwt. Frozen Mutton.—Messrs Weddell and Co. report :—There has been only one small arrival from New Zealand, say 15,600 Icatcases per s.s. Arawa; and_as a steady demand has' been maintained stocks have become further reduced. Shipments near at hand arc decidedly light, and in view of the statistical position.holders are now demanding higher rates. Comparatively little difficulty was: found in effecting an improvement of id to id per pound all round, bnt at that advance the market closed rather quiet. Since the beginning of the year stocks of frozen mutton in London have undergone a reduction of fully 100,000 carcases, and as supplies have now been brought within manageable compass the position is alto- ' gether a more healthy one than could have been hoped for, had not shippers taken the matter into their own hands by curtailing exports. Quotations :-Prime New Zealand mutton, 3s to 3s 2d per stone of 81b ; secondary, 2s lOd to 2s lid ; inferior, 2s 8d to 2s 9d. Prime New Zealand beef, hinds, 3s to 3s 2d f fores, 2s 6d.