LONDON MARKETS.

Taranaki Daily News, 15 April 1921, Page 6

LONDON MARKETS.

HIGH COMMISSIONER’S CABLED REPORTS. The Department of Agriculture lias received the following cablegrams, date! April 7 and 9 respectively, from the High Commissioner for New Zealand, London:

“Wool sales commenced yesterday with offerings of 9922 bales free wool, of which 1372 bales were New Zealand, balance principally Australian. Large attendance and good competition from Continental buyers. Importers in many cases placed reserve of February prices, less 10 per cent, on their lots. These figures were chiefly above current market valuation, considerable proportion of offerings being withdrawn in consequence. Judging by bids for unsold lots and prices obtained for lots sold, merinos may be quoted at 10 per cent, to 20 per cent, below closing rates last series (these were 15d to 17d). The few lots crosjbreds sold realised 5 per cent, to 10 per cent, below that level. Not sufficient to give reliable indication of value. Sale of Bawra wool this series confined to two days this week. Offerings will consist of:—Australian: Merino, greasy, 8700 bales, scoured 1200 bales; crossbred, greasy 3150 bales, scoured 250 bales. New Zealand: Merino, greasy 250 bales; crossbred, greasy 1300 bales, scoured 600 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 Is 2d to Is 3d per lb; cut lamb, no demand, at Is per lb. New Zealand mutton, fair demand for lightweight at B|d to 9d per lb, but demand is limited for heavyweight at B%d per lb. Argentine chilled beef: Hinds Is, fores 7d per lb; Argentine frozen, lid and 7|d for best quality. New Zealand beef, very little demand. Official quotations are: Hinds, 6 l-Bd, fores 4sd per lb. “Butter.—Official quotations are: New Zealand £l3 fid to ’ £l3 10s cwt. (2s 4Ad to 2s 4§d per lb.); Australian, £l2 8s to £l2 12s per cwt. (2s 2|d to 2s 3d per lb); Argentine, £l2 4s to £l2 12s per cwt. (2s to 2s 3d per lb); Danish, £l4 4s to £l4 10s per cwt. (2s 6Ad to 2s 7d per lb). Committee’s prices given last week—viz., New Zealand £l3 2s per cwt. (2s 4d per lb); £l2 4s per cwt (2s 2£d per lb); Argentine, £l2 per cwi. (2s Ifd per lb)—will remain in force until April 15. They are flat rate for first and second-class quality in case of Australian and New Zealand salted and unsalted. In case of Argentine business is fair. Retail price remains abaut 2s fid per lb. Average prices are: English butter, £l7 5s per cwt. (3s o£d per lb); Irish, new, £l5 10s per cwt. (2s 9£d per lb), old £ll 10s to £l2 5s per cwt. (2s Ofd to 2s 2£d per lb). “Cheese.—Fair demand, but prices tend easier, especially for white. Current quotations are:—Canadian, white, £7 fis to £7 18s per cwt. (Is to Is 4|d pit ’lb), colored, £7 18s to £8 4s per cwt. (Is 4jfd to Is s|d per lb); New Zealand, white £6 16s to £7 2s per cwt. (Is 2,fd to Is 3|d per lb), colored £7 16s to .€8 2s per cwt. (Is 4£d to Is 5Jd per H>>; Australian, white, £G 16s to £7 per cwt. (Is 2gd to Is 3d per lb), colored £7 14s to £7 18s per cwt. (Is 4Jd to Is 4jfd per lb.). “Casein.—Market weak and prices again lower. Nominal quotations are: Lactic. French, £72 15s per ton; Argentine, £57 per ton; rennet, French, £S9 per ton; New Zealand and Australian, £G3 12b fid per ton. “Hemp.—Manila market dull and easier. ‘J’ grade, April-June and MayJuly shipments sold yesterday down to £3B per ton. January-March shipment wanted up to £42 per ton, and offers are scarce. New Zealand market quiet and nominal. Sellers quote high-points, spot, £44 per ton; April-June shipment, £42 per ton; fair,* £42 and £4O per ton respectively.

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

“Honey.—Market very quiet. Prices nominally unchanged at about 80s per cwt. (BJd per lb) for finest, down to 45s per cwt. (4fd per lb) for inferior “Hops. —Controller notifies that on April 1 he held 4579 pockets (mutilated word) of the 1920 English crop. It is estimated that about same quantity is held by merchants. Nothing doing here in Continental and American hops. “Apples. —Market little (mutilated word). American still arriving, and holders are anxious to clear before Australian shipments arrive. First shipment latter due about April 18, comprising 53,000 boxes. Present quotations fur American are from 18s to 22s per case of 401 b. Cape pears selling steadily at about last quotations—viz., 3s to 5s per dozen.”