Commercial News

Feilding Star, Volume XIII, Issue 127, 23 April 1892, Page 2

Commercial News

♦ The New Zealand Loan and Mercantile Agency Company, Limited, report on the produce markets for the week ending Wednesday, 20th April, as follows : — Wool — In our last report we predicted in regard to merino wools that bottom had been touched, and we are very pleased to hare our impression confirmed from London. The recent cable intelligence is very satisfactory and reassuring and inspires confidence in the future of the wool sales. Had there been no im» provement in the merino sorts it is more than probable that stronger wools, which have fairly held their own, would have suffered a considerable decline ; the Colony, however, is to be congratulated upon the iinproyed tone, which means substantial addition to value of our chief export. Recent returns, although showing a lower realisation than could be considered agreeable, have on the whole proved pleasantly disappointing, as owners were prepared for much heavier reduction m values. Latest advices are to the eflect that sales are still continued with great spirit and competition, and withdrawals comparatively light. Up to date 156,000 bales have been sold. Grain— We notice by i)unedin market reports that a considerable proportion of the wheat now going into that city shows unfitness for milling, and trill have to be kiln«dried, or disposed of immediately for fowls' feed. Large quantities of oats are now being received into WelUtigtdn stores, and a considerable drop in prices has occurred. We quote good whole fowls' wheat, 3s 6d to 2s 8d ; bright heavy feed oats, Is 9d to Is lOd ; and medium, a shade lower. Grass Seed s— The demand, for autumn sowing, has almost entirely ceased. For Poverty Bay rye we quote 6s 3d to 6s 6d ; southern machine dressed, 3s 6d to 4s 6cl ; Paceys' perennial rye, 5s per bushel. Hemp— A slightly better demand exists for this fibre, No alteration in prices to report. Frozen Meats — Our London manacer cables as follows :— The price of beef has declined $d per lb since last telegram, quotations nominal. There is a good demand for New Zealand mutton, but quotations are unchanged since last re« port. The demand for lamb is unchanged, but quotations are |d per lb lower than last report. [per united muss association] London, A.pril 21. The wool Bales re-opened to-day. There was a large attendance and prices were fully maintained.