COMMERCIAL NEWS

Hokitika Guardian, 4 March 1921, Page 1

COMMERCIAL NEWS

HIGH COMMISSIONER’S REPORT

WELLINGTON, March 1. The Department of Agriculture has received the following cablegram, dated London, February 2(ith, from the High Commissioner:— Meat —Chilled beef is in large supply, and is selling at ll.'d to Is per lb for hinds, and 8d per lb for fores.

There is also a large supply of South American'frozen beef, which is selling at !)d per lb for binds, and (id per lb for lores. The result is that. New Zealand beef is not being placed on the market, and is accumulating, Frozen mutton is also neglected, owing to the large supply of beef available. New Zealand lamb is in good demand. Last w:ok about (0,000 carcases from America were marketed, and commanded the maximum price of Is Id per lb. It is reported that a sale of New Zealand land) from America lias been made at Is (Rd per lb, c.i.L, for delivery in March. A small quantity of New Zea-

land mutton from America is on the market, and is selliiw at 8d per lb for mixed parcels, showing signs of storage. Home killed prices are: —Beef Is •’id pei< Hi, mutton Is 9d per lb, lamb 2s Id per lb. Butter—diislt supplies and price- are irregular. New giade Creamery, iiii-salt-ed, is north up to £lB 15s per cut (3s Id Hi), and ( reamery, ex store, from £l4 to £.'ls 10s per cut i2s (id to 2s Oil per lb). Government butter slfows no change in price, viz., £1! IBs 8d per c.vt wholesale, and 3s per lb retail. Danish is quoted at I'll. 5s per cwt (2,s per lb) f.o.b. The average price of English is £2O J2s per cu t (3s 8d per lb). There are only small supplies.

Cheese—Government prices are unchanged at Is ltd per lb wholesale, and Is 8d per lb retail. English is quiet and scarce at £8 8s to £0 2s per cwt (Is (id to Is 7td per lb). Canadian supplies are small. White is worth £7 lls to £7 His per cut (approximately Is -ltd per lbi, and coloured £7 18s to £s per cut (approximately Is 5d per lb). New Zealand is in good supply, and has an easier tendency. While is wo: lb £7 (is to £7 8s per cwt (approximately Is 3;|d per lb), and coloured £7 His to £7 1 t ]>er cwt (approximately Is -!;;d per lb). There will be no further arrivals until .March 2(itb, and a reaction is expected in quotations. It is anticipated that Government stocks will lie cleared early in March.

Hemp—The Manila market is de„pressed and declining. There lire new sellers of November-.laniiary to Fein it-ary-April sbipTilenfs at £ll par ton. The New Zealand market is idle. Nominal quotations are:—Spot high points £Hi per ton, fair £1 I per ton, afloat and £l3 and £ll respectively, wild probable buyers of afloat at 20s less. Wool—The sales are proceeding. Competition is a little better all round, and the mine of the better class merinos has slightly impioved on opening r.uv . A good selection of New Zealand greasy crossbreds were offered, and the. finer quality sold well, on the basis of recent rates.. Inferior is selling slowly. Slipt-d and scoured also ntIraeted more attention.

Casein—Present stocks of British are very heavy, and all producing countries are eager sellers. The market is depressed, and prices are low. Present quotations for rennet are—good Australian or New Zealand £IOO, French £llO to £125, lactic £BO to .£IOO, all per ton, ex wharf, London.