LONDON MARKETS.

Wairarapa Age, Volume XXX, Issue 8449, 27 May 1907, Page 7

LONDON MARKETS.

(From Gux Own Correspondent.) * LONDON, April 7. Under date April sth, Messrs W. "Weddel and Co. report us follows: Wool. —The second series of aucftfons duly came to a termination on ' the 27th ultimo, during the course of which the following quantities were brought forward, viz.:—Australian, 87,236 bales; New Zealand, 76,744; South African, 5,141; South American, 9,657, making a total of 178,778 Of this quantity it is judged HJft the foreign houses accounted Tor 65,500 bales, the home trade for 101,000 bales, and the United States are credited with some 10,000 bales, 2,050 bales being passed in from day to day and carried over for the next series. During the second half of the auctions no fresh developments ,took place, and the quotations given in our last report held good till the closing day. T,he great bulk of greasy merinos were 5 per cent, dearer than in January, but in the superior sorts rates were barely maintained. Scoured merinos were in fair supply only, and showed an appreciation of 5 per cent, in the \ faulty lots, while lambs ruled un Winged. One good Western greasy lot sold at Is 9d, and spout washed wentias high as 3s 3£d per lb. Crossbreds made a good show, the offerings including some choice North Island wools. Fine qualities were scarce, and only in fair demand on American account, prices in consequence showing a 5 per cent, depreciation from' January values. Medium qualities also were not affected to any great extent by American competition. Coarse wools, on the other hand, Went rather dearer than previously. Lambs were a good market, and made about 5 per ' cent, to 10 per cent, more money. Slipes, both from New Zealand and the River Plate were only in moderate supply and sold extremely well, values being a good 5 per cent, higher. ' The interval between the closing of these last sales and the opening of the forthcoming series on the 30th instant is of somewhat short duration, especially when Easter Hoidays are taken into consideration, but from all accounts the demand continues to be of such an active character that during these few weeks a big hole in supplies will be made and no stocks will be accumulating. Prospects .• would therefore seem good. After * deducting direct forwardings, arrivals for the third series of sales, to commence here on April 30th, amount to 116,000 bales, of which 76,000 bales are from New Zealand, 34,500 from Australia, and the balance from South Africa. Grain.—Wheat, etc.—Trade has been slow during the past fortnight, and the intervention of the Easter Holidaysjhas made operators cautious. Values are nominally unchanged, sellers being firm at late rates, which, however, do not attract

buyers. For the time being, in view of the large quantities of wheat; now fc afloat for Europe, millers are satis■Wtejjl to purchase merely for their imrequirements, and these con- ' y€itiona se,em likely to prevail for some time. The Continental markets are reported as being in a similar ■ lifeless state, although crop reports

continue of an unfavourable charac-

ter. J The American markets have - remained about steady, and it is satisfactory that the recent financial disturbances there appear to have had little influences on the grain markets. At the close the market is steady but quiet, and while sellers aak late rates, buyers are bidding 3d decline for cargoes. Frozen Meat.—General Market— The outstanding feature of the past fortnight's trading has been the satisfactory Easter demand for lambs. Values of Home-grown mutton have recovered *d per lb to 6Jd to 7Jd per lb for Scotch, and 6£d to 7d per lb for English. The market for chilled beef was fairly good last week, but during the past day or two values have receded, owing to supplies being in. excess of the demand. At Smithfield States sides are slightly dear at 5Jd to s&d; but Canadian sides at 4Jd to 5d ha\e barely maintained last quotctions. Supplies of cattle at Deptf ord have been heavy, and quotations are barely Bteady at £l6 to £2O for States and £ls to £l9 per head for Canadian. In the frozen meat markets there has been a satisfactory expansion in the demand for lambs; but the enquiry for both mutton and beef is alow. Mutton.—New Zt-iland—Arrivals during the past two weeks amount to 134,421 carcases. The increasing quantities now coming to hand have had a depressing effect on the market, and although in the early part of the period under review a better demand was noticeable, yet at the close the heavier offerings have had a prejudicial effect upon values, and the market closes, if anything, a shade weaker than last recorded. The grading of some of the best brands has not been too well done, with the result that importers have not!been able to realise top prices throughout, even for the beat known brands. Canterbury sheep under B6lbs have sold at 4d to 4Jcl per lb, 56-641b at 3Jd to 4d, and carcasses over 641bs at 3gd to 3fd per lb. Southland and best North Island sheep have sold at from 3f d to 3§d per lb according to weight; ordinary North Island sheep make from 3£d to 3ld per lb, while heavy, weights have sold down to 3Jd per lb. Ewes 'W9h weaker at 3|d to 3£d per lb. 7 Australian.— Receipts during the fortnight amount to 29,393 carcases. Although we are now within a few weeks of the last arrivals of the current season's mutton from Australia, and although the quantity to hand is light, yet the demand has been so poor' that the lower values last reported have bsen barely maintained. The v/eakness has been accentuated by several holders, frightened.by the heavy New Zealand arrival?,' forcing sales. Small sheep have sold at 3.|cl to 3§d per lb, with an occasional 3Jd for prime carcases. Heavier weights have sold at 3Jd to 3Jd. River Plate.—Arrivals during the past two weeks amount to 90,979 carcases. Following the lead of New Zealand sheep, River Plate mutton has dropned about &d per lb. Even at the reduction prices compare very favourably with those current for , NewZeatands; in fact, more has at times been obtained for Plate sheep than for similar weights of sOme of the New Zealand brands. bmall sheep have sold at 3Jd to 3fid per lb up to 3|d per lb for a few, while heavier carcases have realised from 31d to 3Jd per lb.