COMMERCIAL.

Timaru Herald, Volume XIIC, Issue 14074, 4 December 1909, Page 5

COMMERCIAL.

THE LONDON MARKETS. (Press Association-By Telegraph-Copyright LONDON, Dec. 2. The American visible supply of wheat is 60,134,000 bushels. Prices for wool are firm, and there is a strong demand for all sorts. Copper. —Supplies, 38,644 tons; deliveries for the week, 32,280 tons; stocks, 105,743 tons; afloat, 5050 tons. Tallow. —Stocks, 2645 casks; imports for the week, 1975 casks; deliveries, 2325 casks.

THE WOOL SALES. Received &.30 p.m., Dec. 3rd. LONDON, Dec. 3. At the wool sales 112,000 bales were catalogued; 45,500 were sold for the Home market, 48,500 for the Continent, 15,000 for the United States, and 3000 were held over. There was a large attendance, the sale closing with strong Yorkshire competition during the last few days. Compared with the September sales, all crossbreds advanced 5 per cent. Greasy merinos were rather irregular; best wools lacked American support and closed 5 per cent, down, faulties 7.V, per cent, down but with strong competition at these levels. Good scoured merinos were above the September rates, and lamb wool 10 per cent, dearer. The Bradford market is dull; prices are unchanged.

THE WHEAT MARKET. The wheat market is quiet, with sellers firm. Tho exporting countries are not offering freely, but the buyers aro inactive in face of the favourable reports from Argentina, Australia and India, and the continued large world's shipments. Soifth Australia November shipment is offering at 41s; steamer shipment Decembor-Januaiy at 39s 3d; January-February at 395; sailers. December-January, 38s 3d. Australian on spot is in small compass, and is held for 43s 6d to 445. New Zealand is almost exhausted, and is quoted at 39s to 39s 6d.

THK BUTTER MARKET. Tlio butter market is easier, owing ■to. the large arrivals and prospective, heavy supplies, "but as thero is a steady demand choicest colonial is cloaring well. Australian salted 112s, unsalted Ills, secondaries 104s to 108s ; choicest New Zealand 116s; Dan--ish:'".l24s to 1265. Stored Australian and Now Zealand .have been practically cleared. WELLINGTON WOOL SALES. Per Press Association. WELLINGTON, Dec. 3. The second wool sale was held to-day and a very satisfactory clearance resulted. American competition did not dominate the position, and for the very good reason that there was not the same selection for the requirements of that trade. It was essentially a Bradford tops day. Condition for condition prices were puite equal to those ruling at Napier. There was keen: competition for lower grade wools and ■taking condition into account, these were dearer than at the November auctions. The best price of the sale was 13fd for light conditioned half bred,whilst very light-conditioned Romney went up to 13Jd, an advance of 3d on the best price on tho November sale. In one or two catalogues a good percentage of the lines was passed in. owing to growers' ideas of value being above the true market basis. Farmers had not only made the common mistake of supposing that because a certain crossbred topped a previous market theirs should about do the same, but had overlooked tho fact that with the warmer weather the wool was much.heavier in condition than in November. . Generally the prices realised were most satisfactory.

The following were tho prices ruling:—Best half bred, 12d to 133 d; medium ha If bred lid to 12d; super crossbred, 12d to 13& d; medium crossbred, 9id to 10-Vd; coarse crossbred, Sd.to ]od; inferior crossbred. 7d to 8-Jtl; bellies and pieces 5-Jd to BWI.

The New Zealand Loan and Mercantile . Aireney 'Co., Ltd., have received tho following message- from their London office. by cable.:—"o7,ooo bales were sold at tho wool sales, 48,000 going to the Continent, and 4000 to America. The sales closed with good competition. As compared with last sales closing rates prices are higher by abotit 5 per cent, for lambs, medium and coarse greasy crossbred, scoured crossbred and fine, crossbred slipe, about 5 per cent, to 7} per cent, for coarse and medium crossbred shoe, about the same for scoured merino super and fine greasy crossbred ; lower by about ~> per cent, for inferior and medium merino, and by about par to O oer cent, for greasv merino super." Messrs Dalgety and Co. report under date London, December 1st — "Since our last cable tallow in general is 3d lower; 1190 casks wero offered at auction and 417 sold.'"' December 2nd—"The -wool sales closed firm and active, with brisk competition. As compared with last sales closing rates prices of merino wools are par to 5 per cent, lower, except for wools in heavy condition, which arc fully 5 per cent, lower. A change (if any) in fine and medium oualities of greasy crossbred wools is in sellers' favour. Slipes. coarse .ireflsy crossbred and scoured crossbred wools arc 5 per cent, hhrher. The totnl net ounntity available amounted to 100,000 bales, of which. 47,000 bales were sold for Home consumption and 48..100 bales to the Continent, leaving 4500 bales to bo carried forward. The frozen meat market is unchanged."