COMMERCIAL.

Taranaki Daily News, Volume LV, Issue 301, 13 May 1913, Page 2

COMMERCIAL.

LONDON MARKETS. By Cable—Press Association—Copyright. London, May 11. Copra.—Steadier; South Sea bags, May-June, £27 10s. Tin Plates.—Spot 14s 3d, three months 15s 3d. Jute.—April-May, £29 10s. Hemp.—Firm; April, £33. Rubber, 3s Bd. Cotton.—May-June, G.44d. HIGH COMMISSIONER'S REPORT. By Telegraph—Press Association. Wellington, Monday. The following is the High Commissioner's cablegram under date London, May 10 (Note: Quotations, unless otherwise specified, are average market prices on spot) : Mutton.—The market is quiet, and trade for all classes of mutton is very slow, and prices are barely maintained; Canterbury 4%d, North Island 4y B d. Lamb.—The market is a shade weaker in anticipation of heavier arrivals; the high prices are restricting business; Canterbury 6%d, other than Canterbury 6M.d. Beef.—The market is dull; 3?ew Zealand hinds 3%d, fores 3%d. Butter.—The market is dull and prices are declining; large supplies are coming forward; last month the imports were 56,153ewt more than at the same time last year: choicest New Zealand in small supply, 113s, Danish 114s, Siben lian 100s. (Australian 'lo7s, Argentine 104s. Cheese.—The market is lifeless; transactions in cheese are very limited; the stock is accumulating, and some holders are forcing saies; New Zealand white 58s, coloured 50s. Hemp.—The market is firmer and the lower prices are inducing business; New Zealand good fair £3l, fair £2B for all positions; fair current Manila £33 10s; a forward shipment of fair current Manila sold at £34. The output from Manila during the last week was 11,000 bales, and for this week 18,000 bales: DAIRY PRODUCE REPORT. Messrs E. Griffiths and Co. are in receipt of the following marget report fro'm their London principals, Messrs Mills and Sparrow, dated London, April 4:— Butter.—The general demand has been fair throughout the week, but although the total imports of butter from all sources are showing smaller in quantity than the same time last year, prices are gradually falling away. There is rather a shortage of real choice butter on the market, and even in thus description it has not been possible to maintain prices. Weather on the whole has been brighter than for some time previously, and with a little higher temperature pastures are beginning to look in good shape. There is every prospect of having a good growth of grass throughout the next two months, and consequently our product will be up to its full capacity, and we believe the same conditions exist throughout Europe and Siberia. Australian: There is still a scarcity of choice butter, and where any factory of extra quality is found, extra rates have been obtained, and generally there has not been enough fine goods to fill orders. There is, on the other hand, a plentiful supply of seconds and ordinary grades which are selling steadily, but the margin between this description and choicest is, if anything, widening. Our colonial friends for years past made a big difference on their own markets between extras and ordinary grades, but this difference did not exist here to anything like the same extent for some few years, and it is becoming increasingly manifest each week that factories must do all they can to raise their standard and get amongst the higher grades, as it will mean a considerable amount of difference to their returns. We notice that in the goods from Queensland the general run of quality is not so good as at the same time last year. T'ns may be owing to climatic conditions, and perhaps beyond the control of the factory manager, but the greatest care must be taken to classify inferior grades. New Zealand: There has been very little offering for the past week or two, and the small quantities that landed last week per s.s. .llurunui and Kumara have been absorbed at prices ranging from 110s to 120s. the former price being nearer to-day's value. There is a general decline in all descriptions. The s.s. Corinthic is now in dock, and there are some easy sellers by this vessel. Danish: Prices are again reduced three kroners (3s (id), and the values of this description have been going down fairly fast for the past few weeks. Siberian: New season's butter is commencing to arrive, as is usual during the cool months. The condition is good and the quality line. It is selling at 108s to 112s, and giving satisfaction. Argentine continues in light supply, and meeting a steady demand. Cheese.—Canadian: Market is quiet,' although the stocks of this description are very light. There is a bigger premium between Canadian and New Zealand than for some time past, and there is no doubt that a good many buyers are preferring the Canadian produce to the Antipodean, as the average quality generally' is better. New Zealand: The market has dragged throughout the week, and there is more disposition to ease prices. The difference on the week is fully 6d, and we fear by the anxiety to sell in some quarters that it looks like a little lower pn>e again next week.