HIGH COMMISSIONER'S MARKET REPORT.

Press, Volume L, Issue 14971, 19 May 1914, Page 8

HIGH COMMISSIONER'S MARKET REPORT.

(mess association telegram.)

WELLINGTON, May 18

Tho following is the H;~Ji Commissioner's cabled market report, dated London, May 16th. (Note—Quotations, unless otherwise specified, are the average market prices on spot):— Mutton—There are signs of an improvement in the market, with a better demand for light-weights: Canterbury 4|d for light-weights. There is little demand for heavy-weighs at 3 13-16 d ; North Island 4Jd for light-weights; ewes 3 5-16 d.

Lamb—The market is rising, with a good demand for all lamb. Canterbury twos 6id, medium-weights 6£d, heavyweights Gd, other than Canterbury 6Jd for best quality light-weights. Beef —The market is firm; New Zealand hinds 4id, fores 3 7-16 d, chilled hinds s£d, fores 3|d.

River Plate shipments received during April, 1914, were:—Mutton and Lamb—London, 88,196, 54,996; Liverpool, 118,851, 105,590; Cardiff, 4000; Hull, 2516; Southampton, 16,594, 11,938; Plymouth, 1261; Newcastle. 6001, 500; totals, April, 1914, 237,419, 173,024; (totals, April, 1913, 154,178, 33.291).

Butter —The market is steady, with a fair business doing. Danish is steady at 113s to 115s. New Zealand m Rood demand at 106s to 108s, unsalted 114s to 116s; Australian in fair demand at 102s to 104s; Argentine, quiet st 100s to 102s; Siberian, steady at 98s to 100s; Irish creameries, quiet at 108s to 110s.

Cheese—The market is weaker, and there is a tendency downward. Canadian, white, per cwt, 66s to 70s; coloured. 68s to 70s; exceptionally fine, 725; New Zealand, white. 60s to 61s; coloured, 62s 6d to 63s 6d; exceptionally fine, 645; Australian, white, 58s to 595; coloured, 60s to 625; English cheddar, 66s to 68s. Hemp—The market is quiet owing to the Mexican situation. . Neither buyers nor sellers are inclined to operate, especially in view of the heavy fad recently. Manila —The market fa easier. Fair current, per ton. £27; June to Ausust shipments, £27 10s. The output from Manila for the week was 27,000 bales. New Zealand—Very little business has been done, Dominion hemp not offering. The market is steady. Good to fair grade, per ton, £27; fair grade, •93 153 (nominal quotations); May. to July shipments, high points, havo sold at £24 15s; fair grade, £23 16s. Sisal. —It is impossible to obtain quotations, from Mexico. New York quotationsi nominally, 5.75 cents. Tow.—Tho market is firm. Second grade, I per ton, £113 15s; third grade, £12 15s.

Hops.—The market is quiet, and prices aro slightly weaker. English, 120s to 140s; Continental, 105s to 200s; California!!, 80s to 110s.

Wool.—The wool sales have closed. The market is firm at an advance. There has been active buying from all consuming centres at Home and on the Continent. Home manufacturers have been laying in stocks. Trade is good and prospects aro favourable. American competition has been active throughout, especially for merino and fine crossbreds. American purchases are approximately estimated at 24,000 bales; 3100 bales of New Zealand wool aro held over. Estimated values: — Superior merinos Is 2d to Is 4d, medium lid to Is Id, inferior 9d to 10id; fine crossbreds, all grades, Is 2d to Is sd; medium crossbreds, all grades, lid to Is Id; coarse crossbreds, all grades, lOd to Is.

Messrs Dalgety and Company Limited, have received the following cable message from their London office, dated May 16th: —"The wool sales closed active, competition being brisk and buying general from all quarters. As compared with last sales' closing rates, prices are—For greasy super merino wools, par to 5 per cent, higher; greasy medium to good merino o per* cent, higher; other descriptions of greasy merinos par to 5 per cent, higher; scoured super merino unchanged; scoured medium to good merinos o per cent, to "J per cent, higher; scoured faulty merinos unchanged: greasy fine quality crossbred 5 per cent, to 7£ per cent, higher; greasy medium crossbred, a change if any, is in sellers' favour; greasy coarse crossbred par to 5 per cent." higher: seedy wools o per cent, higher; scoured fine quality crossbred 5 per cent, higher; other descriptions scoured crossbred unchanged. -Slipe wools par to 5 per cent, higher. The total quantity available amounted to 190.000 bales* of which 24,000 bales were sold to America, 121,000 bales sold for Home consumption, 40,000 bales sold to the Continent. Three thousand bales were not offered, and 2000 bales have been carried forward."

The New Zealand Loan and Mercantile Agency Co., Ltd.. advise having received a cablegram from London giving the undernoted market information:— "London wool sales—Since our last telegram market unchanged, except for greasy crossbred, for which market is firmer. One hundred and 83 thousand bales of wool sold, 40,000 to tha

Continent and 24.000 to America Sales closed firm. Five thousand bales held over. The following are current prices for New Zealand greasy woolGood merino lod, medium merino 1,3 d inferior merino lid, fine crossbred "14.1 d, medium crossbred 12d, 40's Hid. coarse 36's Hid."