LONDON MARKETS

Press, Volume LXIII, Issue 19156, 12 November 1927, Page 22

LONDON MARKETS

i — -+ \ LATEST REPORTS. | WOOL AND MEAT. (raou ocs ow» coßMsspoirossT.) LONDON, October 8. Messrs Charles Balme and Co. report that during the fifth series of London wool tales— September 13th to 29th—the following quantities were catalogued:— New South Wales 18,774 bales, Queensland 15,915, Victorian 19,*44, South Australian 6435, West Australian 3551, Tagaanian 296, New Zealand 57,890, Sou'th African 3535, South American 13,396, sundries 6764, total 144,500 bales. """Nines nr.n h £ * u * nti F s <! ld amounted to about 119.. 000 bales, of which some 64,000 bales have been taken for export, including 3000 bales 17,000 bales were held over. During August, reports from manufacturing centres, both at home and abroad, indicated more active business and a tendency towards higher values. This was confirmed when the selling season opened in Australia at the end of the month with, an advance which brought prices there up to London July parity. In accordance, therefore, with expect*tions, there was a general rise in values at the opening of the series, and with keen demand from all sections of the trade the improvement was well maintained throughout the sales. This satisfactory market enabled good clearances to be made, and a large portion of the wools carried forward from earlier m the year wai sold. While the rise was primarily due to foreign .competition, the Home trade has bought freely at the higher levels established. . The best greasy merinos were 5 per cent, dearer, while average to good combing wools dosed about 7 J per cent, np; for faulty and poorly-grown greasies, however, prices did not show much alteration. Superior scoured merinos met with a good demand at an advance of from par to 5 per cent., and average scoureds of combing length were 5 per cent, higher. Short and faulty descripI tions, when fine, were also 5 per cent, dearj er, but short wools of poor quality were frequently difficult to sell at last series' rates. Australian greasy .fine crossbreds advanced 7J per-cent., and New Zealand and halfbreds 5 per cent. Superior medium "crossbreds were 7& to 10.per cent, dearer, but on ordinary medium and coarse greasies the improvement was barely 5 per cent. Good Australian scoured comebacks rose 5 per cent., but values of other qualities of crossbreds showed little change. Large quantities of sliped wools were catalogued daily, and met with keen competition throughout, the series; the best lambs advanced 5 per cent, on fine and medium, and from par to 5 per cent, on coarse qualities, while for other descriptions July prices' were well maintained. ... Closing Prices Per Lb. ■ ' ■ ■ a. . i.

The sixth series is fixed to open on November 22nd. The following dates have been arranged for the opening of the sales during 3 928:>—First series, January 17th; second, March 13th; third, May Bth; fourth, July 10th; fifth, September 18th; sixth, November 20th. Henry S. Titter and Sons. , Messrs Henry S. Fitter -and Sons report that the weather during the past fortnight has been very mixed, and has been the cause of some sharp fluctuations in values. There has been an abundance of all kind of fresh-killed meat, supplemented by game and rabbits, so, generally speaking, prices are ruling low. With so wide a variety for buyers to choose from, it is not surprising that the trade for frozen meat has been slow. Large quantities of Home-killed beet ate being pitched on the market, and low prices, have prevailed. , , . , The majority of Argentine beef, beinp of rather poor quality, has not meti with » very ready sale. Beally choice quarters, however, still maintain their value. With larger quantities of New Zealand brozen beef now to hand,.prices are a little weaker; the falling off of the Continental demand is affecting secondary grades, for which offers are difficult to obtain. At times, supplies of Home-killed lambs have been very plentiful and low prices have to be accepted in order to clear. Although the. output of New Zealand lambs has been checked by the higher prices, the ouantities available are such that values arc being well maintained. The heavier grades continue to show an advance. Good supplies of Home-killed mutton »t« available. English ewes are plentiful, and good quality can be purchased at 4J-J to 5d iper lb. New Zealand wether mutton has been rather a slow sale with, if anything, a slishtly weaker tendency in values. The price of ewes in-store is being maintained, although on the market they are a slow sale at the advanced prices. Verv heavy supplies of fresh pork caused values- to weaken ajl round, and towards the end of last weeJc great diffrcult? was experienced in clearing stocks. Very little fiozen pork is to be seen on the market. Prices—

Pork- ; p^ English (under 801b) English (80-120 Ib) "* »1U s English (120.1601b) ** » «l'!| Englioh (over 1601b) ** ■'»• »| *; J*ew Zealand ** ' .» i ' South American "* -'*■ JJ J " * o Messrs 0. C. *»», '_. . Messrs G. 0. Kean ..j 7* '* the past month has **PW i trading so f, r as import* 21 *T& are concorned, and-sided ? ***» ««C of the speculative demand predated considerably. sLj** kfc beet have been available „^ 1 "WW* ruled at comparatively C»T *«&TL* out the month. b2m 2LH* "W more rlentifu., buV°£is »>fc been .realised, with the .3 Iw * W occasions when plain IaSS SL"«S low figures to effect «i, Moderately heavy arrival, «r » frozon mutton have come ' u> »..?H* improved demand mentions?ft fci port has continued, and |L» v?*«a further steady and sub.taX N prices. The advance has dm. ?*<» rapid for the consumptiv, "ex hooks- values .t sS&NI generally been fractionally £ ship" equivalents, particnjarlr h'i'H "• of ewes. The markot hail£&&,*• ki the smaller supplies of llhmf&M can mutton available darl ß rtJwS> Medium and heavy still in short supply, and hava 2?" » sale than the lighter grades. W,'** tt o "/ '%„*'* New Zealand-Vifflli* Under 481b at 6Jd per Ibttjff 1 * per lb, 56-641b at 6d to 6*d 12I«« I at ojd to 6d per lb, over T2lhf£* lb. Prime Canterbury at id to Id per lb above thetoJaSA* for the respective grades. A fiE} *» lias again been evident for «wl?siS*l have been freely on "ex ihin*s*i full rates. To-day's market nfiisHL 11 at: Under 481b 6Jd to at sid per lb, 56-641b at sFilP 1 601b at 4id per lb. •■■■ *»^|:' l » Arrivals of frozen lamb havo not been unduly strong enquiry having >beeaftiS2ii* sharp advance has to be ,? has been no great accumulationMiLft store and in view of the wwE** small exports from Australia dßi&Tttf'•' ing season, buyers have been ossiffliitS in New Zealand lambs to cove* Uibi«2? ments. Medium and heavy.wetiß»ftSs are principally: in butaTaSiKJ plies are not plentiful.:.-:" .•■:.■ >™* The delay of a few expected to arrive front; August made the arrivals duriwlanLi month appear comparatively m the season. A very BtwnflSSS New Zealand lamb, howewi hirlSit? perionced throughout, both for, and afloat, and values,show iWiJiE id to H per lb.ag previous quotations. : The/adraawjffiiZ more marked in the ease JofH'pttu€iZ and heavy-weight carcases, whlWit. bZ short supply. We quote foifos£&R terbnry lambs, up to 36.421b at lb. Selected brands of-North-Ji©£iS are quoted at id per lb, and ?* **:-»«■ Jo ' under;; theV Light-weight' aeeohdary deseripUOMiS a. .at ogd krtVi«% cases at 9d per lb. :■-'■•, -; ,'v . Supplies have been negligible. Prioes have hj« a tremely firm, and for certow-dwcripttoaifw ticularly light and medium weighU.'lffl, limits have been advanced, f Tb'eT;,BiTS tinues to. and SOlb, and at the nmeftimei'Santa buyers have also Vihdwa' lnibimti.w tw£ few parcels offered haw ta sold quickly. Present values are Mfollims Freezer cows, 30-50,. 10|d to 1014 40-SOttl 45-65 101 d. to IOId, 60' and up Mil lOJd; abattoir cows, 30-50 IOJd, 40-Hu 45-5591(1 to lOd, 50. and up 9|d. Oslnttr are again reported sold to Australia u4 If United.States at 16Jd to 16|d, but ttU rt is not; obtainable ; to Europe. rearliaiiiafi not .beeasqffered in auy ■ quantlty.^-"- < 0« The rabbitsklns market is reported N-i Mt«e«twealter,->'bttt .'it Is *aittl«ipateoV M» the next sales, which-are due to taltiSs on November l«th; buslneis.wUl impjfe During, the early part of the mMti?i market- for; forward shipment of ItttttHi and New Zealand tallow, was teryili, ij prices advanced' sharply by 8s Jo Jl VMj cwt, shipments afloat meeting witi;iMri sale. The States'and Japan ,bav»>N*te ing at origin, and offers■ have b^piw» the U.K. and -Continent. ,Q6o4.MlffiiW 43) titre, roße to 87s 8d c'.i.f. tinent for October shipment,'' (WMJ''-" for November, with fair colburJftpl»tld 6d for October. Inferior no colJit'jrH ?W' ed at 32s 6d to 335. ,oefcV*i» ber shipment. Latterly*'v;'Jffi?{JiißW has slackened,- . .and ' ; ?,wltf§f 10Q offering at under shippers' prfcsiftflilWlW now 6d to is per'cwt lower,lhistwp«» tations for the month. Shipmsnlr.ifiM Ik Ooloniee for August were return*! U'Mil tons, as against 2942 tons forth* mOv* ing period last year. /% , ~- % During the first two weeks t« fti'wtf the spot market advanced by sbent U tip cwt, and a considerable amount was done at the advanced ratei, maitto tallow having made up to 38i ex tiim. w terly, however, the market has una', •* *hat, and to-day's spot pricM #«'•• * lows:— , ', . Mutton—Fine 36s 6d to 37i, fair t» j4 Us 6d to 365, dark 82s to 83l 64, M Pine 36s to 40s (nom.),' fllr to fW J* 9d to 35s 6d, dark 31s 9d to S3i; Bp«f I* 84s to 35s 6d, fair 33s to 345, rat, •&»» to 31s 6d.Prices for Premier Jus advanced • ikW|j| during the early pait of ths »«»'&> "*J2 beef was sold up to 46s 6d fa ' «W» shipment, whilst November and "f*: shipments were held for 47i and «8i wrj tlvely, these prices being aa ntmi* nbout 5s per cwt since our last wpwfc "■ beef was sold up to 48s, and umlfj" at 42s for October shipment, Mj JJg generally are now about U p« owing to resellers operating. Tail «••*£„ is hoped, will be only temporary, slj»j is no sign of real weakaeM market. Por spot and afloat tarctli «T beef up to 44e per cwt e.i.f. iu ''f a rL During the month the »■*«**«lJPg been'rather weak, owing in P»" that the U.S.A. has not been actively in consequeace'of higher asked by shippers. U.K. and .WJJJJ users have considered prices for f K *~fZt too high for some time. Sheep pi»»«J^J I 2s to 3s nnder last month a There are very few lamb pelts on- «» ket, and prices are nominal. • Spot London ex store prices W» ° I lows:— jjjft N.Z.N.I. Freezers — ' ' jj Extra heavy sheep •• SJJ'ji^ Super heavy sheep <» 's2l»'** Jst heavy sheep _ .• • i «J (,'(* 2nd heavy sheep .. ■"'ijM.lo Super light sheep y 'lffi'* Ist light sheep ■. •' Sura* 2nd light sheep .. ''snim N.Z.S.L 4^* Super sheep •• •' jj,^'" let sheep •• " jj/w" 2nd sheep • • *■ j_ N.Z. Freezers—. tu£% Kxtra lambs -• '*" jofc)»£ Super lambs '', &£&&. Ist lambs . •• '.' S 1 2nd lambs •• ""%&&§&■. N.Z. Fellmongers— . '. Ist ex. heavy sheep •• Jy^fljj Ist heavy sheep -. , •■ 2nd heavy sheep ' V* JW3^ Ist light sheep .. "ivsif"^ 2nd light sheep .. *'., jajiMj Ist large lambs • V jdiJM* . Ist lambs -• '''•iWfj 2nd lambs •• *'- .t^s Messr* Miehie ***s**''£jL Messrs Michie and W"«elftss% market since their last adT>e» "^oitf verj- steady for all d*"** °A Up**' lamb. If anything I^Si'M shade on the prices last « n '',*^S|j Trade certainly has « ,o * e * TSCfgl ablv owing to the big J«J^J%fl»-'S l but at the same time »»?P U «* ( £ , H}lS able and in sight are »»,P*rf^f pass that the general fjeWT J,'**. to lambs particularly »«. for . "!^j» Mutton generally can \l»£E3i2t although not quite so ,«* *-^V)§ day's values are as .follows. '^*j2/p Canterbury and best Vs. 62d; T», 6Jd to 6Jd; f '"£ss? .\orth Island wetberss to gd below these prices. 'ZytfSV' Ewes: Under 481b and ».*tWte 56-641b, 4Jd; voer 641b, *.&WR The prices for North Island and SoutManfl. 9|d; B's, 9id to 9|d; *^Pys*W Secondary lambs, »ew rf weight: Bjd to 9<d. J '*^t

Quotations: — Australian and New Zealand— Merino, greasy superior, 6 per cent, dearer .... . 29 to 84} Merino, grease, average to good, 5 to 7} per eent. dearer ....... 23} to 28 Merino, grease, poor condition, par to 3 per cent., dearer .. 17 to 23 Merino, grease, interior pieces, and locks; '• 5 per ceni dearer "io to 16. Merino, scoured, superior, par , to 5 per cent, dearer ' 6 41 to 50 Merino, scoured, average to good, 5 per cent., dearer .. 35 to 40 Merino, scoured, inferior, par to 5 per cent, dearer 26 ' to 34 Merino, scoured, faulty pieces and locks, 5 per eent. dearer /i-. .... 19 to 25 New Zealand— ' Crossbred, .grease, fine. mi . perior, 5 per cent, dea'.- ' 24" to 26J Crossbred, grease, fine, ordinary, . 5 per cent, dearer .. 19, . to 23| Crossbred, grease, medium, superior, 7J to> 10'per cent. dearer .. .. ' •17 to 30 Crossbred, grease,, medium, ordinary, par to 5 per cent. dearer - . .. • 14 to 16} Crossbred, grease, coarse; su- ' perior, 5 per cent, dearer 14 to 16 Crossbred, grease, coarse, ordinary, 5 per. cent, dearer 12 to 13} Crossbred, scoured, tine, superior, par 33 to 42 ' Crossbred, scoured, fine, ordinary, par ... A . 38 to 32 Crossbred, scoured, medium, superior, par to 5 per eent. dearer 24' to 30 Crossbred, scoured, . medium, ordinary, par .. 11 . to 23 • Crossbred, scoured, coarse, superior, par .. 19 . to 22 Crossbred, scoured, coarse, ordinary, par :.. IS to 18 Crossbred, sliped, fine, superior, 5 peri cent, dearer 24., to 29 Crossbred, sliped, * fine, inferior, par .. 18 to 23 Crossbred, sliped, medium, • superior, 5 per cent, dearer.--19 to 231 Crossbred, sliped, medium, inferior, par 16 to 18 Crossbred, sliped, coarse, superior, par to 5 per ' eent. dearer ... IS to 16 Crossbred, sliped, coarse, inferior, par .. : . •- 12) to 15*

Per lb. Mutton— (1 d. English • sheep s 70 Pcotch sheep 9.'. .11 New Zealand wethers, 44-60lb PI 7 New Zealand wetherB. 67-SOlb Si .6 New Zealand awes, U-56lb <? 5 New Zealand ewes. 0-561b Vs 4J Australian wethers .. 41 51 South American wethers 5 6 Lamb— Scotch Hill • .. ,. .. 9 ' m Scotch 1° 12 English M 12 New Zealand O'g ■9} 9| New Zealand fi°3 9 3i New Zealand Vs S? 9 New Zealand secondary's 8J Pi Australian .. >». — — Argentine (new eeaBon) . «* n BeefEnglish Long Sides .. 6?, 8 Scotch short sides n 11 Argentine chilled hindquarters 6 6* Argentine chilled forequartera 32 *i New Zealand prime ox hindquarters .. ... .» *i . s New Zealand prime ox forequarters .. H gj New Zealand prime cow hind- • quarters .. .. . . Nominal | Kew Zealand prime ox fore1 i.i ■ ■ . ZCemmsi 1