THE ENGLISH MARKETS

Otago Daily Times, Issue 10420, 24 July 1895, Page 1

THE ENGLISH MARKETS

(From Oor Own CoRREsroNnKNT.) London. 3unc 14 Wool.-The National Mortgage and Agency Company report regarding the third series of colonial auctions : —Prices at the outset for greasy merino generally ruled from 5 to 7i per cent, lower, according to condition, than previous ' MaTch rates, and although occasionally prices slightly rallied, broadly speaking at the finish there was a decline of 5 to 10 per cent, on the previous sales' quotations. New Zealand merino grease is again this year in heavy condition. Scbureda of good body and condition, under failcompetition from the Home trade, were only about Jd per lb lower, but inferior and faulty sorts showed quite Id per lb decline. Crossbreds of which 83,700 bales were offered, likewise a weaker market, the only exception being coarße bright-haired descriptions of good length, which commanded most spirited competition, and realised full previous values. Tbe finer grades, when bright and clean, were not more than Jd per lb lower than in March, bnt poorly-grown and heavy-conditioned parcels relapsed quite ld per B>. Slipes were in very limited supply, and Eold without change at former pricea. Wheat.—Tbe National Mortgage and Agency Company advise that reports of damage by froat to the United States crops led to large apeculative transactions on both sides the Atlantic, and prices advanced 2s to 3s per quarter the third week in *aay. Tbey have sines fluctuated according to the

movements in America, but the greater part of the advance has been maintained, although the tone is quieter again at the close. New Zealand cup- ' puss on the spot are nearly exhausted. Fine 1 ts of new Tuscan wheat are inquired for to take the place of English, aud, if forthcoming, would fetch a high figure, say 30s per.496lb, ex store. The Imperial averaee price of British wheat for the past four weeks is given as.22a lOd, 23s sd, 24s sd, and 26s 9d per quarter respectively. , Messrs W. Weddel and Co. write:—lt is not generally expected that the crop this year will be as big as last ysar's, while in America evidence is [ accumulating that the yield Will bo decidedly less than last year. The future of the market naturally depends upon the American yield, so that all movemenis there are watched with more than usual attention. Frozen Meats.—Messrs W. Weddel and Co. advise that a very material improvement has to be reported—the change for the better revealed by to-day's quotations as compared with those ruling a fortnight ago being one of the most rapid nn record since the initiation of the industry. There are $till heavy stocks in London, and several steamers are discharging cargo very slowly for lack of space in the various refrigerating stores ; but the shipments on passage are moderate, and holders are fairly confident that the near future will witceas a range of much more satisfactory prices-than have been current during the past two or three months. The,general demand continues satisfactory, though the rise in. prices of ; mutton and lamb is not unnaturally checking .sales in* some.districts and amongst certain clisses of consumers. In sympathy with the further rise in NeW Zealand and River Plate sheep, there bas been a rapid increase in the value of all qualities of, Australian mutton, the. average pricj now being about 3Jd per lb, compared with 2Jd per lb, current three weeks, ago. It Is .worthy of note how close to prime New.Zealand values at present are those of the most ordinary Australian sheep, the top quotation for the former being 3gd per lb, while' the lowest quotation for the latter is 3id par lb. ■ Two months ago -the corresponding current rates were 3M>per;lb and 2J per lb — a range in value of ljd per lb. In New Zealand mutton the principal improvement has taken place in secondary-gradef; which, for a long time past have been unduly depressed as compared with otherc^ses of mutton. The increase in their value within a fortnight amounts to no lessthangd per lb, while prime grades have risen about $d per lb. .:■.-•.. -'..'.-., \.!: ~ ■ Messrs H.,S. Fitter and Sons, alluding tothe continuance of the impiovement in the froz.-n mutton trade, report that prices, especially for 'small cheap sheep, are decidedly better, which •they attribute to the fact that just at present small Australian and River Plate sheep are very short: These countries, they say, seem to ha^e got the idea, that big sheep are wanted in London, but, as a matter of fact, their^smaller sheep are selling far more readily: .'- ''.' ':': Rabbitskins.—Mesars Flack,- Chandler, and Co. report'that at auctions held on May 31,1455 bales New Zealand and Australian wefe'i offered, of which 1123, bales were sold under the hammer. New Zealand skins of best selection were in very fair supply, and-these generally maintained April prices,'-.thin-pelted skins selling to best advantage ; medium qualities were irregular at last sales' rates to'.Jd per lb decline -..common' and'low. season were in poor request at'ld-per lb Reduction on previous values; damaged skins being most difficult of sale. Small and suckers: sold slowly, and ,wci:e.fully Id per lb cheaper. Furriers' black skins.were readily taken at tfte full prices ruling last month. ■ .' , ■-'.' '■'-. .'...'•' ■■'.'■..".'■'_■"■'-'.s. "7'-7.\ ■■'-J Tallow.'— Messrs Flack, ■Cbandldr,.and Co. report that the demand showed some improvement at the later sales in 'May, and prices hardened slightly ; but at last sales, held on 7th inst., the demand was weaker, iarid although no material changejn, valued occurred business was . very slow. The. shipments from. Australia, and New: Zealand for the month of May aire advised as S2UO tons,'and these heavy figures will not tend to improve the Btate of the market; •"-" ■' • ■! Pelts.—Mesars Itqcke and Son report that the demand from America for New Zealand salted pelts has been very marked during the past, four weeks, and the rtsult has.beeh.'an advance of 4s to, 6s prr dozen froni tbe lowest'point touched for best heavy grades. Other "classes have participated/though not to the sanie-ektent. -lianibs are in fair request at fully 23 advance. The market is nrm and stocks very light. Considerable sales have been made,!'to arrive:"