COMMERCIAL.

Taranaki Daily News, 8 February 1922, Page 8

COMMERCIAL.

LONDON MARKETS. \ HIGH COMMISSIONER’S CABLED REPORT. The Department of Agriculture has received the following cablegram, dated February 4, from the High Commissioner for New Zealand, London: MEAT. Reported that c.l.f. business less active, but moderate demand continues for supplies on spot. Official quotations are : New Zealand mutton: Lightweight, February 4, 7%d; January 28, up to 8d; January 21, 7d. Heavyweight, February 4, 6%d to 7%d; January 28, 6%d to 6%d; January 21, 5%d to 6>4d. Ewes (for lightweight), February 4, 6%d; January 28, January 21, 5d to 5%d. New Zealand lamb: Lightweight, best quality, February 4, 10%d to 10%d; January 23, 10%d; January 21, lOd. Heavyweight and second-class quality, February 4, lOd; January 28, lOd; January 21, 9%d. Few new season’s North Island lamb selling at ll%d per lb. New Zealand beef, quotations nominal: Hinds, February 4, 4%d; January 21, 3%d; fores, February 4, 3%d; January 28, 3%d; January 21, 3%d. Chilled, very large supply: Hinds, February 4, s*4d; January 28, 6%d; January 21, 6%d. Fores, February 4, 3%d; January 28, 3%d; January 23, BUTTER. Owing to their recent large purchases buyers are a little less active in their demand, and easier tone prevails. Danish supplies scarce, and little business expected until present values are reduced. Official quotations are: New Zealand.—Exceptional, 140 s per cwt (Is 3d per lb). February 4,134 s to 138 s per cwt (Is 2%d to Is 2%d per lb). January 28, 140 s to 145 s per cwt. (Is 3d to Is 3%d per lb). January 21, 130 s to 135 s per cwt. (Is 2d to Is 2%d per lb). CHEESE. Market continues firm, with steady demand. Official quotations are: New Zealand.—February 4, colored, 98s to 100 s per cwt. (10%d to 10%d per lb) ; white, 92s to 94s per cwt (9%d to lOd per lb). January 28, colored, 94s to 96s per cwt (lOd to 10%d per lb) ; white, 90s to 92s per cwt. (9%d to lOd per lb). January 21, colored, 88s to 90s per cwt. (9%d to 9%d per lb) ; white, 86s to 88s per cwt (9%d to 9%d per lb). \ HEMP. Manila: Market is Inactive. Philippine shippers are holding better grade for 60s to 80s per ton above prices which second-hand sellers here would accept. Present value is: J. grade, £39 per ton nominally. New Zealand stagnant; nominal value spot hlghpolnts, £37 per ton; January-March shipment, £35 10s per ton; fair, £35 and £34 per ton respectively. WOOL. Sales closed firm, attendance large throughout, and competition keen. Great bulk of total offerings of 192,000 bales all descriptions were sold, 70,000 being taken by Continental, about 113,000 by home trade. Good feature has been improved competition for crossbred fine quality ruling strong throughout, medium and low sorts attracting much better support on account of relative cheapness. Highest point was about middle of sale, after which some Irregularity was noticeable, but tone improved again towards end. Average closing values; 60’s to 64’s merinos. Is 2d to Is 7d; 9d to 10%d; 44's to 46’s, medium crossbreds, 56's super halfbred. Is Id to Is 6d; 50’s halfbred, 9%d to Is o%d; 48’s, fine crossbreds, 9d to 44’s to 46’s, medium crossbreds, 7d to B%d; 36’s to 40's, coarse crossbreds, 6*4d to 7%d. Next sale commences March 7.

AGENTS’ ADVICES. The Bank of New Zealarid, produce department, has received the following advice from Its London office, under date February 3: Butter.—Market steady; 125 s to 138 s per cwt. Cheese.—Steady. Colored, 95s to 100 s per cwt.; white, 90s to 94s per cwt. Frozen Meat. —Wether market quiet but firm. There is very little doing in beef at present. Quotations nominal. Current quotations: Wethers, light, 7d to B%d per lb; heavy, 6d to 7d; ewes, 5%d to 6%d per lb; iamb, new season, ll%d to 12d per lb; lamb, old, 9%d to lid per lb.: lamb, seconds, 9d to 9%d per lb; ox, hinds, 4%d to 5d per lb; ox, fores, 3d to 3%d per lb; cow, hinds, 3%d to 4d per lb; cow, fores, 2d to 3d per lb. Messrs. Dalgety and Company, Ltd., are In receipt of the following cablegram from their London house, under date February 3: Butter. —Market quiet, with a downward tendency; buyers are holding off. Danish, nominal price, 168 s to 1745; Australian finest, unsalted 132 s to 1365; salted, 122 s to 1265; secondary, 108 s to 120 s; Inferior, 90s to 102 s; New Zealand finest, 134 s to 138 s; secondary, 125 s to 130 s. Cheese.—Market steady. New Zealand, colored, 98s to 100 s; white, 92s to 945; Australian colored, 88s to 945; white, 86s to 90s. The New Zealand Loan and Mercantile Agency Company, Ltd., have received the following cablegram from their London house, under date February 3: Blitter.—New Zealand salted, £6 10s to £6 18s par cwt. Market weak. Cheese.— £4 12s to £5 per cwt. Market firm. SYDNEY WOOL SALES. By Telegraph—Press Association. Sydney, Feb. 7. The twelfth series of wool sales has commenced. There were many attractive merino clips of good quality, but crossbreds, which formed a large percentage of the offerings, were nearly all affected by burr. Competition was keen, and late rates were well maintained. MELBOURNE WOOL SALES. Melbourne, Feb. 7. At the wool sales merinos of all grades were slightly easier; crossbreds unchanged. RATE OF EXCHANGE. Sydney, Feb. 7. The buying rate of exchange in Sydney re New Zealand has been raised from one-half to three-quarters per cent. The discount selling rate is unchanged. NEW SOUTH WALES LOAN London, Feb. (>. The New South Wains loan was over-sub-scribed. Cash applicants have been allotted about half the amount of their applications. —Aus.-N.Z. Cable Assn.' WANGANUI RAM FAIR. By Telegraph.—Press Association. Wanganui, Feb. 7. There was a large entry at the Wanganui ram fair and a fair number of buyers, but prices were only medium. Romneys sold at from one-quarter up to 10 guineas. There was practically no demand for Lincolns. Some sold at half a guinea to a guinea. A keener demand existed for Southdowns, tbe highest price up to luncheon being seven guineas. AUCKLAND SHARE MARKET. Auckland, Last Night. Sales on the Stock Exchange to-day wer.?: Auckand Gas (ex dividend), 21s: Wilson’s Cement, 14s lid; New Zealand Inscribed Stock, 1938, £B7 10s. INGLEWOOD SAI.F. (From Our Own Corresi i nt.) More life was shown at Newton K.ng, Ltd.’s mart sale on Saturday than has been noticeable since the Christmas holidays, and during the stress of harvest on the farmers. A very fair attendance to meet an improved offering resulted in a satisfactory sale. Weaner pigs realised from 8s to 10s; slips, from 16s to 18s: ducks, 2s: fowls. Is 6d; apples in bags. 2s Cd and 3s; in 401 b boxes, 3s 6d; pears in 201 b boxes, ss.