LONDON MARKETS.

Wairarapa Age, Volume XXX, Issue 8433, 3 May 1907, Page 7

LONDON MARKETS.

(From Our London Correspondent.) i ' LONDON, March 22. , Messrs W. Weddel and Co. report as follows under date March Bth : Wool.—During the fortnight which has elapsed since our last advices the general aspect of wool markets in Europe has not materially changed, but if any move can be said to have taken place it is one which favours the already strong position held by owners of the raw article. On the Continent in particular merino wools have been much in demand, and business has been remarkably active, not only in raw wool but in tops, yarns and goods, and the easy fashion in which the present heavy arrivals MHtaken up is very noteworthy. of the fine and medium qualities have been also in good request, and in the stronger qualities also more confidence has been noticeable, and some fair lines have been moved in this country lately. Under the circumstances, therefore, the sales which open here next week should return good results for all qualities and descriptions of wool. After deducting direct forwardings, arrivals for the second series of sales, to commence here on March 12th amount to 177,000 bales, of which 76,000 bales are from New Zealand, 86,000 from Australia, and 3,500 from South America and the balance jom South Africa. Grain Wheat, Etc. During aat week there was a good demand principally, on Continental account ..or distant arrival, but this week a quiet feeling has prevailed and values are easier. Shipments to Europe have increased very consider- - a«jly during the past two weeks, but atill 'are no'more than about equal to irrent requirements, and unless the osition in Russia has been very much exaggerated, estimated requirements may barely be met until India i, again in a position to ship freely. markets have been very ;rm, influenced no doubt by the ungual conditions in Russia, and also uports of damage to the German op. There are also reports of amage to the French growing ■ops, and although present values i that country do not admit oi heat imports, it seems quite probable that ere long - they may have to ■ import foreign wheat. Australian wheat is firmly held and the shipments last week total 155.000 qrs. as ompared with 180,000 qrs, for the orresponding week last year. At ne close there is very-little animaon in the.) market, although AmeriAn prices, have advanced. Sellers ;k late rates, but buyers are very arce. \ Australian Wheat. —Ex Store—locks are nearly exhausted, and, . ith an improved demand, values are igher. We quote 32s 6d at 33s ptr v6lbs. New Zealand Wheat.—Ex Store—supplies on the market are exl iusttid; prices are nominal. We [ iote—3os to 31s for Shortberry, iud 31s at 32s for Longberry, per lbs. New Zealand Oats.—Ex Store— Fhj market continues firm at fully ii te rates, but New Zealand sorts ,ite in small supply.. We quote—Good » Canadians, Sparrowbills and Gartons I ac 22a 6d to 25s per 3841b5; Dun, 19s to 21a per 3361b5; and Danish, 18s to 19s per 3201b5. Tikllow.—There has been a steady demand during the (past fortnight, "and values have advanced 3d to 6d per cwt. At publicj auctions 2,046 casks werb offered, and 1,489 sold. Thejmedium and lower qualities and also hard sorts have been m best, request, the sner grades of mutton having been neglected until near the dose when all descriptions are in good demand. Prices are Very firm and indications seem to point to at least a continuance of the present high rates, and probably some adance in the near future. The foliwing are current spot quotations Australian and New Zealand ijrts, viz. -.—Good to finest: Mutton, 7s 9d to 39s 6d per cwt; beef, 36s o 37s 3d per cwt. Dull to fair: button, 36s to 37s per cwt; beef, 353 3d to 35s 9d per cwt. Inferior: /lutton, 34s 6d to 35s 9d per.cwt; beef/ 33s 6d t6 34s 6d per cwt. Frozen Meat.—Business at Smithrield has been quiet during the past ortnight. Home-grown mutton has ofit ground slightly and cannot now je quoted at more than 6fd to 7Jd or Scotch, and 6Jd to 7d for English iutton. Prices of chilled beef h ive fluctuated in sympathy with the supply available, values being high last week when offerings were short, but they have not been maintained in face of increased marketings this week. At Smithfield, State sides realise 5Jd to s|d; and Canadian sides 4|d to 5d per lb. At Deptford, prices of cattle have receded to £l6 to £lB ger head for States; and £l4 to £lB for Canadian. The frozen meat narkets remain quiet, even the reduced prices at which all descriptions ■ire pow being offered failing to create any life in the demand. Mutton.—New Zealand—Arrivals luring the past two weeks amount to j 1,940 carcases. Trade generally has oeen slow during the period, and although the quantity of mutton to hand from all sources is less than during the preceding fortnight, yet marketings have been in excess of ;he demand, and have had a prejudicial effect upon values, which closed decidedly weaker. While this decrease is applicable to prime sheep of best brands, it has been still more kit by secondary and inferior qualities, against which the large offerings of good Australian and River Plate sheep at low prices have been in active competition. Canterbury fc.~#freep under 56lbs are selling at 4fjd; % 66-64lbs at 4|d to 4£d; and carcases "over G4lbs at 3gd to 4d per lb. Longburn and W.M.E. sheep are making from 3gd to ' 4Jd according to size and quality, and Southlands are selling at a shade under these prices. Ordinary North Island sheep realize from 3§d to 4d, and ewes from 3|d to 3 id. Australian—Receipts during the fortnight amount to 71,801 carcases. The demand has not been good, and the market has been unable to absorb the large quantities that are being ,' offered. A general reduction in value has consequently taken place, and even at the reduced rates it has been impossible to make satisfactory pro- , gress with sales. Small sheep are selling at 3§d to 3sd and medium and heavy carcases at 3Jd to 3|d per lb.