COMMERCIAL.

Otaki Mail, Volume XXVIII, 17 November 1920, Page 4

COMMERCIAL.

HIGH COMMISSIONER’S CABLE. The Department of Agriculture has received the following cablegram, dated 13th inst., from the High Commissioner for New Zealand, London:— “Meat. —English in slow demand, and prices lower owing to a large supply of Dutch selling at Is 3d to Is 4Ad per lb. English mutton, Is Od to Is 3d per lb; lamb, only a few Scotch available at Is Sd to 2s per lb. New Zealand mutton and lamb is in active demand at maximum prices. No chilled beef on market this week. Small supply of New Zealand beef selling at r, lust quotations. (Hinds, 101 d; fores, '7d per lb). “Butter.—English in fair request at prices up to £251 Ids per cwt (4s 7]d per Hi); Irish unobtainable during this week. No licenses have been issued for shipment from Ireland, where there arc ample supplies; price nominally, £25 15s to £26 per cwt (4s 7d to 4s 7}d per lb). If shipment is resumed price is expected to quickly slump.

“Cheese. Trade continues veryslow; demand has not improved. English, £S 15s to £3 per cwt (la fijd to Is 7fd per lb). Canadian: Demand for spot is not good. White, £7 14s to £8 per cwt (Is -ltd to Is 5d per lb); coloured, £8 to £8 -Is per cwt .(Is 5d to Is sjd per lb). Quotations c.i.f. are firmer ior prompt shipment at £7 18c to £3 Is fid per cwt (Is -lid to Is ofd per lb). Latest offers: Best coloured October make, £7 13s per ewt (Is ltd per lb). Canadian stocks in London, November 12th, 110,335 boxes, against 52,597 last year; New Zealand, 2666, against 4127; but liberal stocks aro held elsewhere on Government account from which monthly allotment

I is made. s I “Hemp.—Manila market is firmer, j B At the beginning of this week “J” I I grade September - November shipment J J sold at £64 10s. Market closed dull, 1 I with less inquiry, and Novembsr- 1 | January shipment sold at £63. " ■I New Zealand market is quiet. Limited business early this week, when high points October - December shipment sold at £54 per ton. It has since sold at £53 10s per ton. Other quotations are about the same as last week. “Wool. —Demand generally indifferent. This week’s offerings have consisted of: Australian: Merinos, j greasy, 12,350; scoured, 2150; crossbreds, greasy, 8900; scoured, 950. New I Zealand: Crossbred, greasy, 5450; I scoured, 3600; sliped, 2200. j

810 DROP IN PRICES. I The Department of Imperial Government Supplies has received the following cablegram from the Direc-tor-General of Raw Materials, dated 11th November: — Sales commenced yesterday with a weak tone. Prices for merino are 15 per cent, and crossbred 20 per cent to 25 per cent lower than at the close of I the October series. Clean scoured f prices now current are about as folI lows:— For top-making descriptions, five sS’s, 3s 9d; 56’s. 2s lid; 50’s, 2s 3d; medium 48’s, Is lid; 40’s, Is Sd; II V. 1 Is (id; coarse 40’s, Is 3d; 36’*, Is 2d; 48’s and upwards sell at. about 11 1 i basis. Spinners’ wools of these grades are in fair demand tit 5 per cent, to 10 per cent higher prices, but -14 and 46’s arc difficult of sale at about the prices quoted, ami to sell them freely prices would have to lie reduced to about Is tid and Is 3d respectively. , 40’s and 36’s are no? wanted, and it is probable that to effect sales prices would have to be reduced to Is and lid respectively. The market, for coarse wool is depressed by a low offer from the Argentine. Rather burry 40-44’s are being offered and purchased c.i.f. Liverpool at lOtd per lb, when clean and

? scoured. J We estimate the range of values at i which greasy wool could be sold r freely as follows:—Merino, Is Sd to 2s v t‘d per lb; 56’s to 58’s, superior, 2s Id Bto 2,j fid; 56’s to 33’s, ordinary. Is fid J to 2s; 50 ’s superior, Is lOd to 2s 4d; I 50’s ordinary, Is 3d to Is 9d; 48’s superior. Is 4d to Is 51; 43's ordinary, Is Id ts Is 3d; 46’s superior, Is SJd to Is -id; 46’s ordinary. Is Ojd to Is 3d; 44’s superior, Is ltd to Is 2d; 44 ’3 ordinary, lid to Is Id; 49's superior, llld to Is; 4.o’s ordinary, 9d to Hd; 36’s superior, lid to Hid; 36’s ordinarv, Bjd to IOJd.