OUR COMMERCIAL LETTER.

Otago Witness, Issue 2080, 4 January 1894, Page 25

OUR COMMERCIAL LETTER.

,o 1 lines of that just effected in the dairy trade) among the different consignees to regulate the 3, quantity of meat that shall be placed on the o market from time to time, so as to avoid the pred sent undue competition and undercutting in prices. The excessive competition in selling con;o tinues to be one of the chief drawbacks in the ,o trade, and is all in favour of buyers, consequently is most detrimental to price and to the interests • of producers. Messrs Nelson Brothers(Limited) says :— " With very moderate stocks on hand and a certainty of n short supplies to come forward there seems no ,o reason why prices should fall, but rather good • grounds to hope for further improvement ; our ia quotations are unaltered — viz., best sheep, 32d ; ,D, D seconds, 3|d to 3*d; old ewes, 3Jd to 3^d. A >a limited number of really prime sheep have been ii quitted at 4d, but not in sufficient numbers to d make it a reliable quotation." Messrs H. S. >f Fitter and Co. think the outlook is much more 3, encouraging.

(FnoM Our Own Correspondent.) London, November 17. WOOL. The past week has not been characterised by any special events or influences calculated to affect the wool market, though there is no doubt that the still deferred settlement of the coal strike has been productive of some discouragement. Beyond this, it is increasingly felt that the circumstances of European demand for the raw material must be largely modified by developments in the United States, which are consequently watched with close interest. It is the opinion of many that however slow may be the reversion to more normal conditions of business in America after the recent crisis, and however much the necessities of the Treasury may retard a drastic treatment of the M'Kinley tariff, the requirements of current consumption must force before long and to some extent the return of trade into its accustomed channels. GRAIN. Wheat is particularly dull, and an impression is gaining ground that there are sufficient stocks in sight to meet all ordinary requirements This has tended to depress the market, and the financial situation in America has deepened the depression. Messrs Weddel and Co. inform me that small sales of New Zealand wheat are being made at late rates— viz., 89s to 30s for longberried, and 27s to 293 for short-berried. Oats are dull. Holders are firm, but buyers are inactive. Prices range from 24s to 30s. TALLOW. At the last sales 1607 casks were offered, and 1300 sold. Fine mutton advanced 3d to 6dper cwt; medium unchanged. Some private sales during the week at rather better prices. BIDES. At yesterday's sales there was a good demand, and full late rates were realised. PROZBN MEAT. The meat market shows considerable improvement. A general impression prevails that some organisation will have to be carried out (upon the