LONDON MARKETS

Sun (Auckland), Volume II, Issue 320, 3 April 1928, Page 15

LONDON MARKETS

OFFICIAL RESUME Under date March 31, the High Commissioner for New Zealand cabled from London as follows: — TALLOW No auctions were held this week, owing to a shortage of supplies. Buyers are interested in afloat parcels, but little business has been done, as sellers have increased prices. Spot quotations are nominally unchanged. HEMP The Manila market was firm early this week, but eased under heavy receipts and freer offerings, closing dull. “J” grade March-May and April-June shipments quoted at £3B sellers. The sisal market is quiet at steady prices, afloat No. 1 £36 10s to £37, and Xo. 2 £34 10s to £35. March-May shipments unchanged. New Zealand hemp met with little inquiry. Small business has been done in May-June shipments of Ilighpoints at £32 and fair £29 10s. Nominal closing values are: Highpoints, £3l 10s; fair, £29 10s; common, £2B 10s; rejected, £27 10s; tow, second grade. £2O; third grade, £lB 10s. Stocks in London on February 29 were 68 tons, against IS tons same time last year. WOOL The wool sales closed on Thursday. Keen, well sustained competition from Home trade and Continent throughout the series, with welcome support from America in crossbred, an excellent selection of which enabled thorough test of values. Compared with closing rates Last series. Merino was par to 5 per cent., tine crossbred 5 per cent, to 7£ per cent., and medium and course crossbred 7i to 10 per cent, higher. Average closing rates: ■ —6o/64’s, super, 2s -Id to 2s 6d a lb; average. Is lOd to 2s 2d; 56/sS’s, 2s 4d to 2s 6d; 50/56’s, 2s Id to 2s 4d; 48/50's, Is lOd to 2s Id; 44 46’s, Is Sd to Is 9id; 36 '4o‘s, Is 6d to Is 7 id. Total offerings. 125.000 bales, of which 110,000 were sold. Continent is taking 60,000, America 4,000. and Home trade 46,000. Closing position sound, with genuine consuming demand. APPLES The condition of both the Tainui and Northumberland shipments was generally good. The fruit was sound, and the appearance excellent, except for some waste in Worcester Rear mains, which arnved fully ripe, and a little pit in Cox’s orange. The market opened with fair demand, but trade is dull now and prices have declined. Opening rates were: ’-ox’s Orange, 25s to 355: others, 14s to 18s. Current prices are: Cox’s Orange, 20s to 25s a case. Dunn’s Favourite, 15s to 16s. -Ribston Pippin, Alfriston, Wolseley, London Pippin. 14s to 16s. Worcester Pcarmain, Gravenstein. 13s to 15s.