Markets.

Lyttelton Times, Volume IX, Issue 576, 12 May 1858, Page 4

Markets.

Tlie news which we have from the Australian colonies by late arrivals does not follow quite consecutively to that before received. Our papers are from the Ist to the 7th of April, so that the last week of March is still a blank. Hoavever, if we may judge from what has come down to us, Aye lose in the missing week no very important intelligence. The general expression in the Sydney journals is that 'the market is in a state of entire stagnation ;' and Aye cannot suppose that the causes which have led to this state of things can have had a different effect upon what we are particularly interested in, the flour and grain market. In Melbourne, hoAvever, business is reported as rapidly improving, and commercial matters are generally in a healthy condition. Though the demand for flour Avas limited to small amounts for direct use, in the absence of imports prices had been sustained. Adelaide flour (best) fetched readily £18 10s. per ton. . The demand for wheat was good and supplies light; quotations are from 6s. 9d. to 7s. 3d. Oats were at 75.-6 d. to Bs. 6d. with a downward aspect. ' Barley at 7s. 6d. to Bs., and met with inquiry. These quotations are at the date of March 27th. In Adelaide, March 22, the demand is represented as good for flour, wheat, oats, and barley; and farmers were disposed to hold for higher rates. Wheat had advanced slightly and was quoted at 6s. 6d.; flour at £16 per ton. It is to be remarked that the best "rates were to be obtained for home consumption for which considerable parcels were being reserved. In Tasmania very little alteration is reported. Some exportations of flour and oats had taken place from I_aunceston; none from Hobart Town, in which place the market was 'devoid of all animation.' The highest quotations on the 26th March are: wheat 7s. 6d., oats 75., barley 7s. 6d. Potatoes £10 to £12 per ton. Flour £19 per ton. Launceston prices at the same date are 10 per cent. loAver. On the whole we observe that no advance was made in the market for agricultural produce during the fortnight over which our information extends, except in Adelaide,a producing market; here evidently the cause of advance was the firm tone of the Melbourne market which, itAvill be recollected, was exhibited about the middle of March. This firmness is still apparent, but there are evident symptoms that it OAves its continuance to the absence of arrivals from other ports which, should they take place, it is of course understood, Avould have a depressing effect.

On the other hand, if the demand in Melbourne is sufficient to give already an upward tendency to grain; the inference is that the produce of that colony must be supplemented from other markets before any great length of time; and there seems no great excess in South Australia; while the Tasmanian prices are at present fully equal to either, forbidding import from that colony without a rise in Victoria. We therefore confidently expect to find that a demand is before long excited from Melbourne as a centre, and that the .arrivals, which it is now mentioned have not yet taken place, will be not pushed but drawn into the Victorian market at prices exceeding those which are now quoted there. If supplies do not come largely meamvhile from South America the New Zealand farmer will then find his opportunity. Should

such an occurrence take place as Aye* anticipate our agriculturist should not let it pass nor inia' gine it likely to last more than, a limited period" In the wool market we quote'the following from the 'Sydney Morning Herald' of Anrii 2nd:— * v Messrs. Mort and Co. held yesterday their weekly produce sale. There was some demand for. the best description of wool, and two bales of Moreton Bay wool brought 22 Jd. per lb. Of tlie 167 bales catalogued, all were sold but thirteen bales. The bidding throughout the sale was more spirited than it has been for some time past, owing to the presence of one or two new buyers; the old wool brokers, however are still very chary of buying, and prices, although firm cannot be considered as having advanced Tho following were the rates obtained for the lou '.S ,!__^ leT J\ ll- 2d*to ls* 10K; handwashed, ol tS.!^ 4d; grease,sfd-tolo*d-; bixed' Sheepskins continue without alteration in price. About 2417 were sold at 4£d. to SJd. per The following paragraph is from the Melbourne 'Argus'of March 27th:— Wool, Tallow, &c—There have been no pubhe sales of wool during the past week, and transactions have not been extensive. Messrs. Goldsborough and Co. report having effected sales at the following.rates:—Middling fleeces 19d to 20|d. ; inferior, 15d. to 18d. ; scoured, 19d to 2ld - hot water ditto, 22d. to 24d.; slipe, 12d to 14d - greasy, 8d; to lQid, per lb. In tallow^ a moderate amount of business has been done, Avithout change in rates. Hides are in tolerable request but at much reduced rates oh late prices paid! Few really prime lots are in the market, and for these as high as 14s. to 15s. are asking, buyers, j however, looking for lower figures. The Sydney import markets were very dull. Large arrivals had taken place of sugar, rice, and tea j in the latter a little business was doing at average prices, viz., from _G5 10s. to £6 per chest. The sugar market was very dull and sinking under large importations. The Sydney share market was improving from the depression which lately prevailedBank of JN". S. Wales and Union Bank shares had risen, and generally there was a greater desire to invest. In Melbourne the excitement consequent on the opening of the great railway tenders had produced a beneficial effect upon the .stock and share market, and prices showed a tendency to advance. There is nothing of importance commercially to be found in the New Zealand journals received.