COMMERCIAL.

Waikato Times, Volume XXVIII, Issue 2260, 4 January 1887, Page 2

COMMERCIAL.

The Waikalo Tunis Office, Monday. MELBOURNE MARKETS. Messrs Golosborough and Co. report under date, Melbourne, December loth :— Wool.—Since the issue of our last summary, on the 17th November, this market has "undergone considerable change. At that time prices, although a good deal under October rates were well maintained, and it was confidently anticipated by sellers that a favourable reaction would set in on the opening of the London sales. This hope, which was also apparently shared in bv some buyers at the l;ist, received a decided check when it became known that the sales had opened with a dull tone, and that prices were in favour of buyers, the decline, as compared with the closing rates of September, being Id to ljd per lb. on Greasy Merino, Id p;r lb. on Greasy Crossbred, 2d to per lb. on washed, and from 2Ad to 3d per In. on scoured. This decline" in values, being much more than buyers had been discounting during the past month, lias had tho effect of bringing our markot down to the level of last year's prices for all average and medium Wools, while good to superior are selling somewhat below the rates current twelve months ago. Despite this unfavourable turn, our sales centinno large, the total quantity offered and sold to date being; 161,042 bales and 131,510 bales respectively, being an increase of 2751 bales catalogued and 5440 bales sold a3 compared with the corresponding date last year, latest telegraphic advices from London respecting the progression of the colonial wool sales there, which commenced on the 30th ult., report a little more animation in the market, though without any advance in prices. Considerable withdrawals continue to take place, the number up to the 11th inst. bein? 21,500 biles °"t "f 100,000 bales which had been catalogued up to that time. Increased French support is the chief of the improved tone. MONTHLY GRAIN REPORT, The late unseasonable weather has retarded harvest operations, and, in consequence, no new Wheat has found its way to market ; therefore millers holding very limited supplies have been compelled to give enhanced prices for the balance of the old Wheat still on hand. What isnow required to assure a good crop is fine, dry weather ; and, if favoured with such, we may look for consignments with the next ten* days, though no large quantities are likely to be' available before January. It is however, early to form an estimate of our yield, the prospects varying so greatly in many districts; but after making allowance for weather losses and other contingencies, we look for an exportable surplus of 150,000 tons at least, the return in many districts being expected to double that of last season. We have not yet heard of any charters being made, but freights are expected to rule from 20s to 25s per ton. Shippers are this season exercising a wise discretion in not committing themselves to snipping engagements till they secure cargoes, and we do not look for an active export demand before February, when we expect prices to be ruled hy the existing quotations from London, which are at present quoted from 3fis to 37s per quarter, or an equivalent in this market of 3s 9d to 4s, 1.0.b. Our stock of old wheat being 1 now almost wholly exhausted, we will have no surplus to carry over to next season, and within the last few days millers have been compelled to make purchases of flour to meet their requirements,—Wheat is temporal, ruling at from 58 to 5s 3d, but this quotation is only nominal. So soon a3 the new crop comes to hand a sharp fall may be looked for. Oats.—Owing to the favourable season and large consignments from New Zealand, prices have receded Od per bushel during the month, and wo now quote from 2s 7d to 2s lOd for inferior to good stout feed. Barley.— The old crop being nearly exhausted, and none of this season's yet to hand, prices are nominal at from 2s 9d to 3s for feed and distilling, up to 3s Od for malting. Maize realises 3s 6d to 3s 7d ; peas, 3s 6d; and bran, 13d per bushel. [reht'-r's TELEGRAMS.] ..LONDON MARKETS. LONDON, December 30.—Consols have risen £, and are quoted at par. —Weekly returns of the Bank of England show the proportion of reserve to liabilities to be 35 per cent., 5 per cent less than last week. The total reserve is £10,500,000.— New Zealand 5 per cent. 1040 loan has fallen 10s, and is now quoted at £101 10< ; 4£ per cent. New Zealand 5'30 loan is unchanged at .£99 15s ; the New Zealand 4 per cent. Inscribed Stock is 10s lower, viz., £94 10s. Colonial bieadstuffs are unchanged. Loniion, December 31.—Consols are at par.—New Zealand securities : 4 per cent, inscribed stock is £1 higher (955) ; New Zealand 5 per cent. 10 - 40 loan remains unchanged at £101 10s, and the New Zealand 4$ per cent 5"30 at £99 15s.—The total amount of whe;<t afloat for the United Kingdom is 1,820,000 quarters, being 230,000 in excess of last week.— Colorii.-tl breadstuff* mid tallow remain unchanged at previous quotations. A Pre j s Association message says:—Tlie wheat market is still firm, and a further advance of Is is announced. Australian wheat on the spot is quoted at 345. _ Four thousand quarters for prompt shipment have been sold at 48.—Flour is Is dearer, and trade is steady.