LONDON MARKETS.

Wairarapa Age, Volume XXX, Issue 8490, 19 July 1907, Page 3

LONDON MARKETS.

(From Our London Correspondent.)

LONDON, June 7th, 1907. Under date May 31st, Messrs W. Weddell and Co, report:—Wool.—■ The market has remained quiet bul firm since the close of the sales here on the 16th Inst. With their more immediate wants fully supplied, buyers of merino wools are content to wait and see what the future has in store, as with prices as high as they are at present the market is not likely to materially go against them, and there is, of course, always the possibility of an easier tendency. At the same time there is no diminution in the consumption which has been on such a large scale for many months now, and any sales of raw material which have taken place have been at full current rates. In crossbreds the situation is somewhat more artificial, as with the Home clip coming along, it is of great importance to Bradford buyers to show things up in their worst light. Business has in consequence been as restricted as possible, but it will be nevertheless somewhat difficult to disguise the thoroughly sound position of the trade, and the recovery in the prices of coarse wools at the recent auctions here will have made the farmer the harder to deal with. English wheat—Supplies are moderate and prices have advanced in sympathy with foreign descriptions. The average price last week of 29s 7d per imperial quarter marks an advance of 2s Id per quarter from the previous fortnight, but is lid per quarter lower than at the same time . last year. j Australian wheat, ex store —This ! description has been in fair request, | and values have advanced. We quote: ) 34s to 35s per 4961b5. j New Zealand wheat, ex store — j There are no supplies on the spot, and values remain nominal at 31s 6d to | 32s 6d for Shortberry, and 32s 6d to 33s 6dforLongberry, per 4961b5. Frozen meat, general market— Trade at Smithfield has been only moderately good, but prices for most descriptions of meat occupy a fairly full level. Home-grown mutton, being in short supply, is again higher in Drice at B£d to 9d for Scotch, and 7Jd to B£d for English. Chilled beef is also rather scarce, and quotations are higher for the limited quantity available. At Smithfield, States sides are now quoted at 5Jd to s|d per lb, and Canadian at 5Jd to s|d per lb. At Deptford, States cattle realise £lB 10s to £2O: and Canadian £l7 10s to £l9 10s per'head. In the frozen meat market, lambs are comparatively scarce and dear; and beef is quoted higher in sympathy with the rise i" chilled; but the mut- j ton market is only steady. Mutton, ' New Zealand- Arrivals during the > past two weeks amount to 112,805 carcases. There has been a very fair damand for best New Zealand sheep, and, although in some instances slightly higher prices have been obtained, yet the position generally is the same as last recorded, the in- j creased arrivals having had no lower-; ing effect. This is partly due to the fact that buyers are paying more attention to the mutton market, owing to the high prices ruling for beef and lamb. Canterbury sheep under 64lbs are selling at 4£d to 4Jd per lb, i while the heavier weights are realising from 3§d to 4d per lb North Island sheep of best brands are selling at from 3|d to4d per lb, according to weight, and secondary sheep at from 3£d to 3|d per lb. Ewes are ; selling at 2|d to 3£dp er lb. j Australian —Receipts during the fortnight amount to 32,511 carcases. ' The trade for Australian sheep has been particularly slow, and notwith- j standing the slightly higher prices being obtained for Plate sheep the j values of Australian are unai.cred, [ and even at late rates holders have found it very difficult to effect sales, i One cause of the poorness of the demand is the strong competition of j New Zealand ewes, which, selling at! equal and lower prices, take the' preference. Small sheep are silling at 3 3-16 d to 3 5-16 d per lb, the heavier | carcases realising from 3d to 3Jd per j lb. | River Plate— Arrivals during the j past two weeks amount to 132,278 : carcases. There has been a slight re- j covery in values o£ River Plate j sheep, and although the demand j cannot be called good, yet there is i a little more enquiry and sales j have been made with greater free- j dom, the prices that New Zealand | sheep are selling at helping the sale Ol River Plate mutton, owing to the j wide difference in values. Small j sheep are selling at 3§d to 3Jd per lb, medium weighs to 3£d to 3§d per lb, and heavies at 3d to 3&d per lb. Lambs —Arrivals during the fortnight amount to 12,814 carcases from Australia, 158,314 carcases from New Zealand, and 16,049 carcases from the River Plate. The demand during this period has been quite up to the average, which is satisfactory, considering the high level of values ruling, and the cold unsettled state of the weather. Arrivals during the month have been exceedingly light, and, along with r stc»:ks in store, have been going rapidly into consumption. A feature of the market has been the great scarcity of medium and heavy weight prime quality Canterbury lambs, which have been in good demand owing to the deamess of English and Scotch mutton. Buyers have been forced on to the corresponding weights of North Island lambs, the quality of some of the principal brands of the latter being very satisfactory, and prices have closed £d per lb up on values quoted in our last report. Light weight lambs although not meeting with such a good enquiry as heavy weights, have also firmed up in values. There are now very few Australian lambs on the market, and with the decreased competition from this source, it has been possible to make slightly better prices for secondary New Zealands. The market finished firm at following quotations: —Prime Canterbury lambs, 28-361bs. s£d tosgd; 36-421bs, Bid to sld; 52-501bs, s|d to 5 13-lGd. Prime North Island lambs, 28-361bs, s£d to s£d; 36-42 ibs, 5Jd to s§d; 42501bs, s§d to 5Jd. Secondary qualities are selling at 5d to s£d per lb. '

The few Australians available are selling at 4|d for medium quality, and 4§d to 4|d for secondary quality. The shipments of River Plate lambs are mostly for the Provinces, the few that reach the London marketrealisingvalues on a parity with Australian lambs. Some Patagonian lambs of fair quality are selling at 4|d to 4|d. Beef: There has been a fairly good competitive demand for frozen beef during the fortnight, and more especially during the past week. The shorter marketings of chilled beef and the higher prices realised for same have had the effect of harden • ing frozen beef values, and the market now closes at a higher level than last reported for all descriptions.