LATE COMMERCIAL

Southland Times, Issue 20147, 6 April 1927, Page 6

LATE COMMERCIAL

LONDON MARKETS. The Department of Agriculture has received the following cablegram, dated 2nd instant, from the High Commissioner for New’ Zealand, London: — Butter.—Market steady. Official quotations are: — New Zealand.—Finest salted; April 2: 152/- to 154/- per cwt (l/4}d to l/4}d per lb); March 26: 150/- to 154/- per cwt (1/4 to 1/4} per lb). Unsalted; April 2: 160/- to 164/- per cwt (1/5 to 1/54 per lb); March 26: 160/- to 162/- per cwt (1/5 to 1/5} per lb) ; other qualities, April 2: 140/- to 148/- per cwt (1/3 to l/3£ per lb). Australian. —Salted, April 2 and March 26: 150/- to 154/- per cwt (1/4 to 1/44 per lb); unsalted, April 2: 156/- to 162/per cwt (1/44 to 1/5} per lb); March 26: 156/- to 160/- per cwt (1/44 to 1/5 per lb). Other qualities; April 2: 136/- to 148/- per cwt (1/24 to 1/3} per lb).

Argentine. —Unsalted; April 2: 152/- to 156/- per cwt (1/4} to 1/44 per lb) ; March 26: 148/- to 152/- per cwt (1/3} to 1/4} per lb). Other qualities; April 2: 144/- to 150/- per cwt (1/3} to 1/4 per lb). Danish.—-April 2: 182/- to 184/- per cw’t (1/74 to 1/7} per lb) ; March 26: 178/- to 180/- per cwt (1/7 to 1/7} per lb). Cheese.—Market steady. Official quotations are:— English Finest Farmers’ (stocks small), March 26 and April 2: 120/- to 124/- per cwt (1/1 to 1/1} per lb). Canadian.—Finest coloured and white; April 2: 92/- to 94/- per cwt (9}d to lOd per lb); March 26: 94/- to 96/- per cwt (lOd to 10}d per lb). New Zealand.—Coloured; April 2: 77/to 78/- per cwt (B}d to B}d per lb). White; April 2: 76/- to 78/- per cwt (B}d to 84d per lb). Other qualities; April 2: 75/- per

cwt (8d per lb). Estimated cheese stocks on April 1 at London, Liverpool and Bristol: Canadian and American 36,800 boxes, New Zealand and Australian 144,250 crates, against 48,700 and 74,800 same time last year.

Tallow.—Market more active and demand is good at auction. Official quotations are: Mutton.—Fine 37/- per cwt; fair to good 35/- to 36/6; dark to dull 33/- to 34/6. Beef.—Sweet and/or mixed 37/- to 40/per cwt; fair to good 34/6 to 37/-; dark to dull 32/- to 32/6. Mixed. —Fair to good 34/- to 36/6 per cwt; dark to dull 32/- to 33/6. Gut, Etc.—3o/- to 32/6 per cwt. Eggs.—Supplies checked by low prices and markets have firmer tone. Present quotations are:—Danish 13/6 per long 100; English and Dutch 11/- to 12/6; Belgian 10/6 to 11/-; Polish 7/6 to 8/6.

Oats. —Market quiet. Best English white seeding selling 28/- to 30/-. Little more interest in plate. Spot quoted at 24/-, April shipments 35/6. Nominal value "A” grade New Zealand Garton 29/- ex stores. Peas.—Maple: Supplies and stocks of Tasmanian and New Zealand very small. Forward shipments quiet; trade business reported early this week, New Zealand May

shipments 73/-, nominal value Tasmanian March-April shipments 85/-. Blues.—Market for Japanese shows considerable decline during the month owing to poor consumption demand and good supplies afloat. Latter sold this week down to £2l 15/-, and March-April shipments £22 15/-. In consequence no buyers Colonial descriptions. Beans.—Very little interest. English winter quoted at 41/- to 42/-. Cocksfoot.—Danish extremely quiet. Offers for 1926 crop difficult to obtain, but price of 90 per cent, to 95 per cent, would be about 71/-.

Hemp.—Manila market dull and easier. "J” grade April-June shipments sold £4l, close sellers that figure. Sisal market dull with small demand for afloat. Values No. 1 April-June shipments £36 10/- and No. 2 £33 15/-. New Zealand market quiet with downward tendency. Nominal values afloat £35 to £35 10/- for Highpoints, AprilJune shipments £34 10/- and fair £33 10/-. Wool.—Sales closed yesterday, attendance large and fully representative throughout. Competition sustained. Merino maintained initial advance, crossbred also until third week when some irregularity developed. At the close, fine crossbred par to 5 per cent, and others 5 per cent, above closing rates last series. Sales: Colonial 124,500, of which 66,000 for export, including 4000 U.S.A. Average closing values are: 64’s (Merino), super 2/- to 2/3 per lb, average 1/6 to 1/104; 56’s (Super halfbred) 1/94 to 2/-, 50’s 1/7 to 1/9; 48’s to 50’s (fine crossbred) 1/4} to 1/6}. 44’s to 46’s (medium crossbred) 1/3 to 1/4 per lb. 36's to 40’s (coarse crossbred) 1/2 to 1/3 per lb. Next sales will take place on May 3.

FOREIGN EXCHANGE RATES. London, April 4. The exchange rates are as follows: Aug. 24. April 4.

WHEAT CARGOES. London, April 4. Wheat cargoes are inactive and unchanged, while parcels are quiet at late rates. Liverpool futures: May 10/3; July 10/2; October 9/11} per cental. CHICAGO WHEAT QUOTATIONS. New York, April 4. Chicago wheat: May 134, July 128}, September 127 cents per bushel.—A. and N.Z. METAL MARKET. (Rec. 9.0 p.m.) London, April 4. Copper: Spot £55 11/3; forward £56 3/9. Lead: Spot £27 3/9; forward £27 16/3. Spelter: Spot £29 2/6; forward £3O 12/6. Tin: Spot £3ll 7/6; forward £321 2/6. Silver: Standard 26 3-16 d; fine 28}d per ounce.—A. and N.Z,

Paris, fr to £1 .. .. 173.37 124.00 Brussels, belgas to £1 .. 34.85 34.94 Oslo, kr to £1 .. 22.16 18.69 Copenhagen, kr to £1 .. 18.28 18.20 Stockholm, kr to £1 .. 18.15 18.12 Rome, lire to £1 150.12 101.70 Berlin, reichmkn to £1 20.40 20.49 Montreal, dol. to £1 4 86 11- 16 4.89 9-16 New York, do! to £1 . 4.85 4.85 13-16 Yokohama, st to yen .. 23 11-16 24J Calcutta, st to rupee .. 18 17 15-16 Hong-Kong, st to dol 26J . 24f Amsterdam, gldr to £1 12.114 12.141 Batavia, guilder to £1 12.094 —A 12.13 and N.Z.