COMMERCIAL

Waikato Times, Volume XXVIII, Issue 2306, 21 April 1887, Page 2

COMMERCIAL

The Waikato Times Office, Wednesday. ■ jiei.boi;kng maukkts. i ■ Messrs GoLnsimouon and Co. report under date, Melbourne, April 7th : — Wool.—There is nothing of importance to note in this market since our last summary. The arrivals have been limited, and in . consequence the auction sales, which, at this season of the year, are held at mouthly intervals, have been correspondingly small, the total quantity disposed of during the past month being about 2000 bales. There has been a strung demand thioughout for all descriptions, good average greasy merino ranging up to !)yd, and good medium scoured to 17d per lb. The bulk of the offerings, however, have been shafty scoureds from the Darling and back country generally, all more or less faulty, for which 13d to 1-Ud have been the ruling rates. The second series of colonial wool sales, we are advised by cablegram, opened in London on the 22nd nit., at which date only 200,000 bales, out of the 275j,000 bales at which the limit had been fixed, had arrived. The attendance of both home and foreign buyers was large, and competition was fairly spirited ; but, contrary to all anticipations, prices were hardly equal to the closing rates of last sales, except for orosshreds, which, if anything, were slightly firmer. During the past week, however, prices for fine wools have hardened, while crossbreds have advanced fully 5 per cent., the market for all descriptions being now firm. Nevertheless, ' the average prices realised for some wellknown clips are not satisfactory to shippers, and it is to be hoped that values will improve as the sales progress. Up to the present 103.000 bales have been catalogued, of which 7000 bales have been withdrawn. The constant, rains throughout New South Wales and (Queensland have caused abundance of -feed and water, and from all quarters of the two colonies the advices are most cheering— rivers, dams, and tanks overflowing—stock in excellent condition, and a splendid lambing, and well-grown, sound clip are assured ; indeed the country is so thoroughly satnrated that two pood seasons may be looked for with certainty. MONTHLY GRAIN KEPORT. _ Our export business in wheat this season is proceeding very slowly up to date, our total shipments both to the United Kingdom and intercolonially amounting to only 45,000 tons out of an estimated available surplus of 150.000 tons. The latest account from the London market report that prices are again weaker, and, though they have touched a very low point, there are at present few signs of recovery noticeable. This news has had an unfavourable effect on our local market during the month, and very little business has been transacted in consequence. Notwithstanding the large stocks of wheat still remaining in the country, the quantities now coining to hand show a considerable falling off, farmers holding back in the hope of obtaining higher prices as the season advances; but with such a large surplus available for export held in the country, and shippers unable to do business at present home quotations, we cannot see how any improvemnt can be expected. In all other descriptions of grain the demand has been very dull during the month, with the exception of malting barley, which has advanced in price considerably in consequence of the deficient harvest in this cereal, and it is not unlikely that we shall have to import from abroad before the close of the season to meet the malting demand. Wheat.—Very little tit for shipment is available under 3s 10.|d, f.0.b,, holders being indisposed to sell at this quotation, which even with freight at 20s will leave nothing but loss to the shipper. Oats,—The market is heavily stocked, and only limited business doing. In view of large supplies from New Zaaland, prices are likely to rule low throughout the season. Quotations:—2s 5d to 2s 7d for inferior to medium feed, up to 2s lOd for milling descriptions. Bahlev has had a large business at advancinG rates, quotations ranging from 4s to 4s Gd for inferior and medium malting, up to 5s and 5s 4d for good to'prime. Maize realises 4s Gd to 4s 8d ; Peas, 3s 4d ; and' Bran, lOd to lid per bushel.