COMMERCIAL

Gisborne Times, Volume XXVI, Issue 2167, 16 April 1908, Page 4

COMMERCIAL

BUTTER. United Press Association—Copyright LONDON, April 15. Colonial .buttoy is quiet and unchanged. Danish is weaker, being quoted at 108 sto 110 s. New Zealand has been cleared, and It Os to 112 s is asked, for next arrival. wools The Bradford wool market is very quiet. Forties are quoted at 0<l; 46’s lid, common 60Vs 22d, super 23d. (Press Association.) WELLINGTON, April 15. Thcro was a drop of ono penny per pound in the retail price of butter this morning, and the ruling rate is Is 3d. Supplies have' kept up well, and factories in Manawatu, Wairarapa, and Taranaki arc generally making more butter now than was the case at the end of July. Messrs. Williams and Kettle, Ltd., are in receipt of tho following report from their London agents, dated (ith March, regarding the wool market at Home:—Wool: During the .past month the market has undergone an unfavorable change, and values of tops in Bradford have fallen about ltd per lb, a 40’s quality to-day being obtainable at lid to llJd per lb. Tho consumption of merinos and the liner descriptions of crossbreds has been fairly maintained, but with some easing down in prices, -whilst demand for the coarser grades of crossbreds has been very restricted. The outlook, therefore, for tlio next auctions, to commence on tho 17th inst., is not by any means hopeful, and unless a complete change comes over tho market within the next few days, of which there are no signs at present, we look for a lower range of values all round. Supplies of raw material for the next few months are likely to be very heavy, and this accentuates tho weakness of the position. Tho fresh arrivals to date amount to 104,076 bales, including some 7355 bales from the Caj)e.

Tho Bank of New Zealand produce circular, dated Loudon, 4th -March, reports:—Wool: The first series of colonial wool sales, which opened on 21st January, closed on 7th February. Of 157.000 bales available 157,000 bales were sold, 81,000 bales for Homo consumption, 70,000 hales to the Continent, ancl 6000 hales to America—leaving 30,000 bales to he carried forward, of which 7000 bales are New Zealand. Owing to the uncertainty of the future of the trade, tho market since the close of last series of sales has continued very unsettled. Spinners and manufacturers have all through been kept busy on old orders, but they are now beginning to find that new orders are not coming in in a satisfactory manner, and they are somewhat' apprehensive in regard to the future. Merinos have kept steadier than crossbreds, but they too have lost ground in the interval. Large quantities of dear wool bought in Australia are now arriving, and it is but natural that tho purchasers, who have heavy losses to face, should not. feel disposed to lay in fresh supplies lor the time being. Crossbreds: Tho position in Bradford,- according to latest reports, is far from encouraging. It will he seen from the list of current prices for tops that -JO’s quality (Lincoln) is quoted at 11-Jd per lb, which compares with 122<1 a month ago, and 173 d a year ago—a drop of about 35 per cent, on tho latter figure. It is said that dealers, who have mostly very little stock on hand, and have practically bought nothing in the Dominion, are taking full advantage of the- depression by persistently “bearing” tho market with the view of getting in at bottom prices while supplies are heavy. Should this bo tho ease the improvement might take place later on in the year, -but much' will depend upon the state of the trade in the near future. In Germany and the United States tho demand for wool remains more or less at a standstill, tfn spite of the easier condition of the money markets. With all these adverse factors weighing on the industry, tho outlook for the March sales is not therefore encouraging. Meat (frozen) mutton (N.Z.): Prime quality is very scarce, and prices for these are relatively high. Arrivals lately have been' - light, which has enabled holders to reduce stocks in store, and tho outlook is better than it has been for some months ipast. Kiver Plate sheep are also dearer. Lamb: Good, well-ma-tured lambs and tegs are scarce, and meet -with a ready sale. Small immature lambs are, on tho other hand, plentiful, and, as they compete with Australian, prices for them are rather low. Beef: Supplies of both chilled and frozen are large, and prices for New Zealand are moderate.