COMMERCIAL.

Manawatu Herald, Volume XLIII, Issue 2264, 16 April 1921, Page 4

COMMERCIAL.

LONDON MARKET,

The Department of Agriculture has received the following cablegrams, dated 7th and 9th lusts respectively, from the High Commissioner for New Zealand, Londori:— Wool sales commenced yesterday with offerings of 9,922 bales of free wool, of which 1,372 bales were New Zealand, .'the balance principally Australian. Large attendance and good competition from Continental buyers. Importers in nlanv cases placed reserve of hebiuaxj prices less 10 per cent, on their lots. These figures were chiefly abovc current market valuation, considerable proportion of offerings being withdrawn in consequence. Judging by bids ior unsold lots arid prices obtained for lots sold, Merinos may be quoted at 10 per cent, to 20 per cent, below closing rates last series. (Tlieso were 15d to 17d). 'flic few lots of crossbreds sold realised 5 per cent, to 10 per cent, below that level. Not sufficient to give reliable indication of value. Sale of B.A.W.K.A. wool, this series confined to two days this week. Offerings will consist of: Australian. —Merino: Greasy, 8,700 bales; scoured, 1,200 bales. Crossbred: Greasy, 3.150 bales; scoured, 250 bales. New Zealand. —Merino: Greasy, 250 bales. Crossbred: Greasy, 1,300 bales; scoured, 000 bales; slipe, 750 bales.

Meat. —Trade dull for all descriptions of English mutton, and prices have declined to Is fid per lb.; but lamb is firm at 2s 3d per lb. New Zealand lamb from America is Is Id per lb., and new season’s Is 2d to Is 3d per lb.; cut lamb, no demand at Is per lb. New Zealand mutton, fair demand for lightweight at Bjid to 9d per II)., but demand is limited for heavyweight at Slid per lb. Argentine chilled beef, binds Is, fores 7d per lb.; Argentine frozen, l id and 7fd for best qualify. New Zealand beef, very little demand. Official quotations are:Jlinds O ld, fores 4-id per lb. Butter. —Official quotations are: New Zealand £l3 Os to £l3 10s per rwl. (2s did to 2s 4i)d per lb.)> Australian £l2 8s to £l2 12s per ewt. (2s 2ld to 2s 3d per lb.); Argentine £.12 4s to £l2 12s per ewt. (25.2.1 dto2s 3d per lb); Danish £l4 4s to £l4 10s per ewt. (2s Old M 2s 7d per lb.). Committee's prices given last week (viz.. New Zealand £l3 2s per ewt. (2s 4d per lb.), Australian £l2 4s per ewt. (2s 2J<l per 1),.); Argentine £l2 per ewt. (2s l:fd per lb.) will remain in force until I.sth April. They are fiat rates for first and second class quality in case of Australian and New Zealand salted and unsalted. Tn ease of Argentine business is fair. Beta il price remains about 2s (Id per ]b. Average prices are:- —English butter £l7 5s per ewt. (3s o:|d per lb.): Irish, new, £ls 10s per ewt. (2s Old per Hi.), old, £ll 10s to £.12 5s per ewt. (2s <H'd tn 2s 21 d per lb.).

Cheese. —Fair demand, but prices tend easier, especially for white. Current quotations are: —Canadian, white, £7 0s to £7 18s per ewt. (Is 3 : |(1 to ,ls 4yd per lb), coloured £7 18s to £8 4s per ewt. (Is 4:{d to Is s:j d per lb.); New Zealand, white, £0 10s to £7 2s per owl. (Is 2:{<l to Is 3.J d per lb.), coloured £7 10s to 11>.), coloured, £

£8 2s per ewt. (Is 4:,hi to Is 5.1 d per lb.); Australian, while, £0 lbs to £7 per owl. (Is 2',‘d !o Is 3d per lb.), coloured, £7 14s to £7 18s per owl. (Is 4id to Is 4jd per lb.). Casein.—Market weak, and prices again lower. Nominal quotations are: Lactic, French £72 15s per ton; Argentine, £57 per ton. Rennet, French, £B9 per ton; New Zealand and Australian, £O3 12s Od

per toil. Wool. —On B.A.W.R.A. wool it had been decided to maintain a reserve of February sale prices, but in view of decline- of market since that series these limits (mutilated word) too high, and practically no sale made on (mutilated word) catalogue Thursday. Therefore it was decided to withdraw all B.A. W.R.A. wool from this series, and no further sale (mutilated word) per week. Series will continue (mutilated word) with privately owned wool unless strike renders discontinuance necessary.

Honey.—Mahket very quiet. Prices nominally unchanged at about 80s per ewt. (Bpl per lb) for finest, down to 45s per ewt. (4 : fd per lb.) for inferior.

Hops,—Controller notifies Unit on Ist April he held 4,579 packets (mutilated word) of the 1920 English crop. ( It is estimated that aliout same quantity is held by merchants. Nothing doing here in Continental and American hops.

Apples.—Market little (mutilated word). American -till arriving, and holders’are anxious to clear before Australian shipments arrive. First shipment bitter due about 18th April comprising 53.000 boxes. Present quotations for American are from 18s to 22s per case of 40 lbs. Cape pears selling steadily at about last quotations (viz., 4s to 5s per dozen).