LONDON MARKETS.

Wairarapa Age, Volume XXX, Issue 8543, 25 September 1907, Page 3

LONDON MARKETS.

(From Our London Correspondent.) LONDON, August 16. | Messrs W. Weddel and Co. report under date August 9th, as follows : Wool.—ln spite of the holiday feeling which has settled down on the market since the close of the last here, there has been a very .sJflreir amount of enquiry experienced, and various lots passed in at the public sales have been placed at the full rates current recently. The position, however, has .not changed in any important particular. The worsted trade, both at home and abroad, is fully engaged on old orders, so that for the time being there is a steady consumption of the raw material, and the fresh orders which have been booked, especially by spinners, will ensure an active state of affairs for some time to come. In the woollen business orders have'not been so easy to procure, and with business quietingdown, there has been veiy little doing in raw wools suitable for this trade, prices being quietly firm at the decline established. Grain. —Wheat, etcf The market has been very quiet during the past fortnight, and values of cargoes have declined 9d to Is per quarter. For the time being the market is largely under the influence of~weather conditions, which have been more favour- - able to harvest prospects, but it has also beea affected by weaker American advices. These reductions in prices in America are in the face of an apparent serious crop deficiency, both as regards winter and spring whtiat, which shows that the markets .are in the hands of the "bears," and it is therefore quite probable that the reaction will not be of a lasting nature. Moreover, the weather dur- j ing the past day or two in the United «■ Kingdom and Northern Europe has again become unsettled, with a torn- | perature below normal, so that the harvest is b-iing further delayed.

Stocks in the United Kingdom are "large, and in consequence millers are riot concerning themselves as to supplies, for the immediate future. Shipments to Europe in the aggregate continue small, and are below current requirements. The market at the close is quiet, but steady. ■ Australian wheat, ex store: There is a steady enquiry for this, and prices remain unchanged. We quote 36s 6d to 37s per 4961b5. New Zealand wheat, ex store: There are no supplies on spot, and Values remain nominal at 33s to 34s for Shortberry, and 34s to 35s for Longberry, per 4961b5. New Zealand Oats, ex store: The market continues quiet, with a very slow demand. We quote:—Good Canadians, Cartons and Sparrowbiils at 25s to 27s per 3841b5; Duns, 22s 6d to 23s 6d per 3361b5.; Danish, 20s to 21s per 3201b5. Frozen meats, general market. — Trade at Smithfield has remained ■quiet, but a fair amount of business is being done, in the provincial markets. Hom.e mutton, although still high in price, has lost ground somewhat at 7£d to 8d per lb for Scotch, and 7d to 7id for English. Dutch mutton is now quoted at 6|d to 7£d per lb. Rather large quantities of chilled beef have arrived to a quiet demand, and values have receded. A 4-. Smithfield, States sides are now offered at s§d to s§d per lb, and Can • adians at 5Jd to 5Jd. At Deptford, States cattle are quoted at £l9 10s to £2O 10s, and Canadian at £l9 to £2O per head. There has been no important change in the frozen meat market. New Zealand mutton alone is fairly firm, but Australian and River Plate prices are weak at a low level. Small lambs sell well in the country, but the enauiry for large carcases is limited. /Hind-quarters of beef are steady in nrice, but fores are weak. Mutton," New Zealand—There is xeally no alteration to report in the ocsition of the market, which, for nearly all classes and weights, has ■wall maintained the prices given a fortnight ago. The lesser arrivals ■during the period have naturally ■ helped toward this result. The mutton market as a whole, however, has been extremely dull and lifeless, and the difference in value between New Zealand sheep and carcases from the River Plate and Australia is much greater than is usually the case. Canterbury sheep, under 64lbs, are realising 4§d to 4Jd per rb. Heavier weights are making from 4d to 4Jd per lb.; W.M.E.'s and Longburns are quoted at 3.? d to 4Jd per lb, while ordinary North Islands are selling at 3|d to 4d per lb. Ewes have sold at 2gd to 3sd per lb, x according to weight.

Australian— Notwithstanding the lighter arrivals the trade for Australian mutton has been most disappointing. The anticipation of higher prices has not only not neen realised, but the demand has been such that sellers have had to reduce their rates in order to make any headway with sales. With River Plate sheep selling at low prices (and taking the preference with buyers even at more money). Australians are hardly in request at all unless a good inducement is given to buyers. Light sheep are valued at 3d to 3§d per lb, while heavier carcases realise 2|d to 3d per lb. River Plate —There is very little difference between River Plate sheep and Australian sheep values, but an exceptionally large premium is being obtained for New Zealand sheep over the River Plate. Small sheep are selling at 3£d to 3£d per lb, with a very occasional 3jjd per lb for very small prime sheep, while the heavier carcase realises 21d to 3d per lb. Lambs—Arrivals during the fortnight amount to 900 carcases from Australia; 139,375 carcases from New Zealand; and 3,917 carcases from the River Plate the grand total showing a considerable decrease as compared with arrivals during the previous two weeks. As is usual during the fortnight in which Bank Holiday intervenes, and with the holiday season in full swing, and large numbers of people out . of town, an exceedingly slow trade is being experienced at Smithfield. This, however, is counterbalanced to a certain extent by the good d2mand which still exists in the provinces, absorbing supplies as they arrive, and thus preventing any accumulation of stocks in store. The bulk of the Provincial demand, however, is only for light weight lambs, leaving the medium and heavy weights to be disposed of at Smithfield, and consequently values for the latter have had

to be reduced, owing to the poor demand they are meeting with. With the arrival of the Delphic and Waiwera, carrying the total mentioned above, some holders showed a disposition to realise their slocks, as prospects for trade at Smithfield during August are seldom good, and this caused a slight easing off in values, which closed l-16d to Jd below the highest during the fortnight. As, however, there are no further axrivalsuntil the Rimutaka, due about 17fch inst., and as stocks in store are not heavy, there appears little reason for any furiher reduction in values, which to-day may be quoted as follows:—Prime Canterbury lambs 28-361b, 5 5-lGd to sgd; 36-42bs, 5 3-16 dto s£d; 42-501bs, 5d to 5 1-16 d. prime North Islands, 28-361bs, 5 3-lGd to s£d; 36-421hs, 5Jd; 42-501bs, sd. Secondary lambs of light weight are worth s&d to 5 3-16 d. There are very few Australian and River Plate lambs on the market, and prices are nominally 4|d to sd.