LONDON MARKETS

Wairarapa Age, Volume XXX, Issue 8863, 24 October 1907, Page 3

LONDON MARKETS

From Our Own Correspondent. LONDON, September 12. • Under date September 6th, : Messrs W. Wtddel and Co. report:— Wool. —The market remains very firm, the past fortnight, having witnessed a continuance of the active demand noted in our last report. Merino wools have slightly hardened in value, the' fact being that stocks are of the most slender dimensions and barely sufficient to satisfy the consumers' requirements. Combing wools still receive more support than the shorter kinds, the worsted trade being well placed at the moment. Some sales have been put through on this market at enhanced rates, but the quantity offering is small, and with the new stock which is just now arriving, holders are content to wait for the next auctions which commence on the 24th inst. There has been a steady, it not large, business done in crossbreds as well, and here again for any wellgrown deep wools the tendency is against the buyer. Stocks of greasy parcels in particular are small, and likely to be so for the rest of the year. A strong American demand for English wools has cleaned the market up to a great extent for these sorts, and this has had a stimulating effect on all Colonial qualities. Grain.—Wheat, etc.—A strong and advancing market has been experienced for wheat during the past fortnight, and values have appreciated about 2s per qunrter. Shipments to Europe continue light, and the American and Continental markets have shown considerable activity which has caused some excitement in the United Kingdom. Weather reports from the Continent are mostly unfavourable for harvest operations, while the harvest in this country is unusually late, and the quality of the wheat generally is poor. The estimated yield in Germany is much below that of last season, and an import of from twelve to fourteen million quarters will probably be necessary during the coming season, while the yield in the United Kingdom is estimated at about 1,000,000 quarters less than last year. From the Balkan States and Russia shipments are very light, and movements of grain to the ports are on a restricted scale as compared with last year at this time. The position therefore, is "bullish," as supplies appear precarious, but the high level of prices ' ruling may attract shipments from quarters. At the close there is a pause in the demand, but the market is firm. English wheat.—Offerings of old •crop are on a small scale, but good reds are worth 35s 6d to 365. New crop is not of satisfactory quality, ;and is offered at 30s to 33s per quarter. The average price last week of ■ 33s lOd per imperial quai'ter marks ■an advance of 4d per quarter from the previous fortnight, and is 7s Id per quarter dearer than at the same time last year. Australian wheat, ex store. —This description has met with more enquiry, and prices have advanced. We ■quote 37s 6d to aSs 6d per 4961b5. New Zealand wheat, ex store. — "There is none on spot, and prices are nominal. We quote —35s to 36s for Shortberry, and 36s to 37s for Longberry, per 9461b5. New Zealand oats, ex store. There is a very small supply of these on spot, and values are nominal. We quote:— Good Canadians, Gartons and Sparrowbills at 25s to 27s per 3841b5; Duns, 22s 6d to 23s 6d per 3361b5; Danish, 20s 6d to 2)s 6d per 3201b5. Frozen meats. —General market. Business in London is still suffering from the effects of so many Smithfield buyers being out of town, but trade in the Provinces has continued .good. Home mutton is in only moderate supply, and prices have remained practically on a level with those last quoted at 7|d to 8d per lb for Scotch, and 6£d to 7Jdfor English. Supplies of Dutch sheep are somewhat heavier, and values have dropped to 6£d to 6£d per lb. Marketings of Home lambs have been curtailed, somewhat, and these are now making 7|d to BJd. Fair quantities of beef have come forward from North America and the River Plate, but the demand has shown some improvement, and prices have been about maintained. At Smithfield, sides of States beef are making s|d to s§d, and Canadian to sgd i per lb. At Deptford, States cattle are quoted at £l9 to £2l 10s, and Canadian £l7 10s to £2O 10s per head. The frozen meat market has maintained the position last reported except in the case of mutton, which shows-some decline. ' I

Mutton. —New Zealand. —Arrivals during the pas! two weeks amount to 138,336 carcases. With the continued heavier supply ami consequent -larger offerings values have slightly receded, although the demand has been fairly well maintained. Canterbury sheep, although perhaps a shade weaker, yet command high prices and secondary New Zealand mutton still obtains a substantial premium over Kiver Plate and Australian sheep. Canterbury sheep under 641b ar<i quoted at 4Jd to 4fd per lb. Heavier weights are making from to 4Jd per lb. Best North Island sheep are realising from 3.fd to 4d per lb, according to weight, while secondary sheep are selling at id less. Ewes are making 2-gd to 3d,per lb. Australian.— Receipts during the fortnight amount to 23,062 carcases. There is no alteration to report in the position of the market for Australian sheep. The demand is very slow, and sales in bulk are made with great difficulty, except at disappointing prices. River Plate sheep selling at the same low rates still retard the sale of the Australian article. Small sheep only realise 3d to 3£d per lb for choice carcases, while heavier weights are a difficult sale at an £d to Jd per lb less. River Plate. —Arrivals during the past two weeks amount to 113,939 carcases. These heavier arrivals have naturally, in the present position of the market, not tended to any betterment of values. As a matter of fact, prices on Smithfield have been barely maintainsd, trade for this description of mutton having been very slow. Slightly higher rates are ruling in the Provinces, and the consumption all round must, under the circumstances, be designated as satisfactory. Small sheep are selling at 3|d to 3Jd per lb, the heavier weights realising 2sd to 3d per lb.