LONDON MARKETS.

Wairarapa Age, Volume XXIX, Issue 8188, 20 July 1906, Page 6

LONDON MARKETS.

(From Our London Correspondent). LONDON, Juno 7. ' Messrs W. Weddell and Co. report nne'er date, June let:—Wool. —'Lhe third series of colonial wool sales here for this year, which commenced on the Bth ultimo, was brought to a close on the 23rd idem. The quantities oft'er«l, including old stock, totalled 178,511 bales, and comprised the following seleot'ou:— Australian, 64,565 bales; New Zealand, 92,864 bales; South African, 7,482 bales; South American, 13,600 bales; and of these quantities it is estimated that the Continent bought 63,000 bales, the Home trade taking about 100,000, and American orders accounting for 9,000 biles. Some 6,000 bales were bought in from day today. After the first day or two with fuller and mce attractive catalogues, the opening advance of par to 5 per cent, on all merinos was improved upon, and to within a few days of the close, prices kept well up, a good 5 per cent, over Maroh rates being established. This improvement was most noticeable on medium fair quality greasy woolb, the better conditioned Western District lots showing soaroely any change. The closing days of the sales, however, found a decidedly quieter attitude adopted towards merinos, and prices reverted to bare opening rates. The selection was rather indifferent throughout, straight, first hand parcels being few and far between. Second band speculators lota on the other hand were very freely offered, indeed in the absence of any unsatisfactory news from manufacturing districts, the weaknessß of closing prioes may be put down in part to the heavy quantities of these speculators wools, whioh were unloaded with so much advantage from day to day. Scoured sold up to 2a 4>£d per lb for the bpsr, but the medium qualities showed the greater advance, being ld'to l>£d up from Maroh, Lambs were steady all through. Crossbred were well competed for up to the finish. German and French houses oame in with some effeot on to the more dingy finer farmers' lots; and on all really good half-bred?, I Americans were still to the fore Medium grades were a little dis- \ appointing, the United States being more or lees out of the market for these qualities. Coarse grades closed on average 5 per cent, over Maioh rates. Coarse lambs were mostly Id per lb dearer. Slipes were offered in fair quantitee, prices for which showed an all-round advance of 5 per cent to 7>£ per oent. New Zealand Whtat.-~Ex store— This description is in good request at a slight advance. We quote:—Shortberry, 31a to 32a; Longberry, 31s 6d to 32s 6d per 496 lbs. New Zealand Uata.—Oats Ex store—Supplies are very limited and values are nominally unchanged. We quote:—Good Canadians, Sparrowbills and Gartons, 24s 6d to 25s 6d per 384 lbs; Duns, 19b 6d to 20s 6d per 3361 bs; and Danish, 17s to 17a 6d per 32CIbe. v Tallow.—T*ie following are current spot quotations for Australian and New Zealand sorts, viz.:—Mutton, good to finest, 30s 6d to 33a per owt; dull to fair, 28s 9d to 29s 6d per owt; inferior, 26s 6d to 28s 6d per owt. Beef, good to finest, 28s 9d to 31a per owt; dull to fair, 27a 9d to 28s 6d per owt; 6d. Frozen Meat.— General market The meat market baa been quiet, but steady during the past two weeks. Home-fed sheep are aoaroe, and values have advanced to 8d to B>£d for Scotch and to 8d for English. Con tinen tal mutton realises only 6d to per lb. After a abort period of higher prioes the beef market closes at only slightly above the level 'last quoted in this report. ' Sides of States beef show improvement, however, at 5d to per lb. States cattle realise £l6 to £l9 per head; and Canadian are quoted at £ls to £lB 10a. There is no feature in the market for frozen meat. The mutton market is weak generally, owing to unsatisfactory trade in the New Zealand seotion. The volume of sales of New Zealand lambs is increasing, and the downward course of values experienced since the opening of the season has at last been oheoked. The frozen beef trade is quietly steady. Muttbu.—New Zealand—Arrivals during the past fortnight amount to 113,057 oarcaaes. Supplies are much in excess of the present restricted demand, and it is only with considerable difficulty that prioes are maintained. A slack demand for mutton at a time when the lamb season is in full swing is by no means a novel experience; but it is unusual to see the prioe of New Zealand sheep so close as it now is to the rates current for River Plate mutton. Canterbury sheep under 641bs are weak at 3%d to 3%d per lb; carcases over 641 bs being quoted at 3%d to The general quotation for Nortb Island sheep is 3%d to per lb; but some heavy carcases are offered at Ewes are unohanged in prioe at 3d to 3}£d per lb. Australian.—Only 12,477 oarcases have been reoeived during the fortnight. Stocks are very small, and, as arrivals are at an end for the season, the few sheep available are firmly held. Notwithstanding the weakening tendency of values of New Zealand and River Plate mutton, 3%d per lb is demanded, for email Australian sheep; medium weight carcases being quoted at 3J4d and heavies at per lb. River Plate.—Receipts are a full average, totalling 171,882 oarcases. Th«re ia a moderate demand, and the statistical position does not wsrraut the weakening tendency in prices whioh is the present feature. The reduced quotations for River Plato sheep are almost entirely the result of the weakness in the New Zealand branch of the trade, whioh has made it practically impossible to maintain late rates. At Smithfleld present values are 3J£d for heavy sheep, 3 3-16 d to 3 5-16 d for medium weights, and 3%d to 3%d for small carcases. In the provinces heavy sheep sell down to 3d per lb, tut choice amall weighta realise 3%d to 3%d. Lambs.—lmportations amount to no fewer than 314,475 carcases from New Zealand, 26,397 oaroases from Australia, and 25,226 carcases from the River Plate. The almost simultaneous arrival of five steamers from New Zealand is responsible I'or the

huge total (which constitutes a record for arrivals of lambs from that Colony in any one fortnight). At the same time the steadily increasing demand, assisted by more seasonable weather and the low level of prioop, promises to absotb. supplies without any further reduction in values. There has been a good enquiry for heavy lambs and tegs, these oarcaaes being used to replace Scotch, English and Continental sheep, which are temporarily scarce. As a result, New Zealand carcases over 421bs are realising almost as much money as the lighter weights. The quality of many parcels of lambs, both Canterbury and North Island, is still indifferent, whio'r is disappointing, inasmuch ap little improvement is being shown in this respect as the season advances. Canterbury lambs under 421ba are quoted at 4%d at Smithfleld, but for parcels ex store or ex ship slightly higher than the equivalent to that price is demanded. Carcases of 421bs and upwards realise 4%d per lb. For North Island lambß of good quality to is obtained, but there are a good many secondary parcels being offered at 3%d to i% ner lb. The supply of Australian lambs is daily becoming lessened, and the available stock is fairly firmly held for 4d to for best, and 3%d to 3%d for ordinary quality. River Plate arrivals are realising about 3%d. Beef.— Frozen Arrivals during the past two weeks amount to 11,111 quarters from New Zealand, and 71,859 quarters from the River Plate. The general demand has been rather slow, cue with chilled hind quarters realising slightly higher prices, frozen hinds have firmed up somewhat. Fores cannot be quoted any higher. New Zealand beef is being sold slowly at to 2>£d fores, and 3%d to 3££ per lb hinds. Australia*! beef is nominally quotwd at 2)£d fores, and 2%d hinds. River Plate frozen beef realises 2J£d to 2%d fores and 2%d to per lb hinds.