The Markets.

South Canterbury Times, Issue 2370, 30 December 1898, Page 4

The Markets.

ENGLISH. MARKETS* The ’representative in London of the. Christchurch, Timaru; and Napier Cooperative Associations, and of the Far- * mers’ Co-operative Fire and Marine Insurance Association of Canterbury, reports as follows,, under date, London, November 19th, 1898: — WOOL. The market has been quiet, with only a few enquiries, from which little business has resulted. The improvement in the political outlook has to some extent been reflected on the markets and a slightly better tone. now. prevails. The woollen industry in this country, particularly the. worsted branch, has been very depressed, while in America it is . also said to be in a very unsatisfactoiy condition, and there is but small prospect of any considerable renewal of American orders in the near future. The increased quantity of foreign wool imported has to some extent neutralised the shortage of colonial, but it-cannot take the place of best Australasian merines, consequently these maintain their value, as do also the fine grades of crossbred, but the coarser sorts are still ■ very depressed. In the north there is a moderate consumption, and the supplies in users hands .are now getting smaller, so that there is more disposition to buy large lots on favourable terms. Colonial wools are a little more sought after to covet; immediate requirements. WOOLLBD SHEEPSKINS. The seventh sale of woolled sheepskins for the present year was held on the 27th ult. There was a fair attendance of buyers, but competition was not very brisk, and prices ruled irregularly. Merinos and fine crossbreds marked a decline of from 5 to 7i per cent., while coarse crossbreds were from 7i to 10 per cent, lower. Present quotations are: — New Zealand full-woolled merino, sfd to 6|d per lb; do do crossbred (fine), 6£d to 6|d do; do do (coarse), 4|d to 6id do; N.Z. medium, 4-£d to s|ddo; do crossbred. 4£d to 6£d do ; N.Z. short and shorn, 3|d to 4|d do ; do crossbred, : 2|d to 3id do. WHEAT, OATS, ETC. There have been some considerable fluctuations in the wheat trade during the past month. Toward? the end of October the market beeam*. excited in consequence of the strained relations with France, and prices advanced Is to 2s per quarter, but with the more favourable aspect of the political situation, this was nearly all lost, and there is now very little enauiry. The country markets are reported quiet, but English wheat has fairly maintained its value. The average price is now about 28s 4d per 480 lbs, as compared with 34s in the corresponding week of last year. Australian wheat is slow of sale at 31s 9d to 32s per 4961b5, ex store. The market closes slightly firmer. Oats —A fair trade has been done in these, and values remain steady. Fine heavy New Zealands are worth 28s to 29s per 3841b5, fair ordinary 25s to 265, and common 21s per 3201b5, ex store. The Rakaia brought 4285 sacks from the Bluff. Barley is firm, .with; a good demand, especially lower grade malting qualities, which have advanced Is. The average price of English barley is higher than that of wheat, the proportion of good malting samples being much larger than usual. FROZEN HEAT. Prime Canterbury mutton has receded about 2d t 6 3d per stone, and trade is exceedingly slow—c.i.f. sellers are having , a very unpleasant time in consequence. As stated in my former report, much of the grading is unsatisfactory ; still that should not justify all the heavy concessions now being demanded and con- ; ceded. The system prevailing here for ‘ assessing faulty grading would be laughable were it not so lamentable in its consequences to New Zealand producers, and it can only beascribed to the perfect system of anti-combination which prevails regarding c.i.f. sales, and which makes the New Zealand sellers about as , powerful as the proverbial divided bundle of sticks. In the lamb trade very little is doing, but prices are still satisfactory for prime quality. The first season’s lamb (3000) has arrived from . South Australia, and another shipment ex Gulf of Siam, is expected next week.