COMMERCIAL.

Gisborne Times, Volume XXVI, Issue 2358, 26 November 1908, Page 2

COMMERCIAL.

A LONDON REPORT

Messrs. W. Weddel and Go., produce brokers, -.. London, under date October 9tli, write as follows :

WOOL

The opening of the fifth series of colonial wool sales- -brought together a large company "of both Home and foreign buyers, with a sprinkling of Americans; competition started well, and has continued so up to the date of writing. Greasy merinos, when of good length and condition, have sold with great keenness, and arc fully up to July laics, occasionally shewing a slight advance. —On the other hand good scoureds have not met "with such a ready demand, and are lower by 5 per cent. .Faulty merinos, both in grease and scoured, show ~a like decline. Greasy crossbreds, which are in large supply, have met an excellent market .all "through, and generally 5 per cent.' lower, and are keenly competed for at that figure. Scoureds, however, are out of favor, especially medium qualities, .and sell irregularly. Slipes, which make a good show at this time of the year, and. marked a drop of 5 per cent, at the opening, have sold steadily without further change. The finer kinds, when they are short, have met with a very strong inquiry and are dearer than last sales.

The tone in. the~sale room is good, and is as much, as can' be expected, considering the. large quantity avadable and the unfavorable conditions under which it is marketed.

Offerings up to the Sth inst. comprise some 124,000 bales, including some 50,000 bales from New Zen land, 65,600 bales from Australia, and 3,000 bales from South America. About 112,000 bales were sold, of which 46,000 wore of Now Zealand. 60,000 of Australian, and 2,990 of South American origin.

For the sixth' series of sales, which commence on the 24th November, the following quantities have arrived to date, viz:—l9,ooo bales, of which 6.500 bales are from New Zealand, 10.500 from Australia, and the balance from South Africa. . MUTTON.

New Zealand arrivals during the .past two weeks amount to _ 45,321 carcases. During the greater part* of the fortnight values all round were easier, but at the. close some, improvement was noticeable .except for prime Canterbury sheep, which are now more plentiful, and are being offered at reduced ratco without finding ready buyers. Small weight carcases under 4Slb are quoted at 4fd, whilst medium weights realised 4-Jd, the 64-72 lbs grade selling at 3;;d. North Island sheen range from 3pi heavies to 3|d, at 3-pl for medium and light weights. Second quality sheep sell slowly at 3-Ad to Bgd. Ewes are getting in fewer hands, and jat the close are firmer at 3A and 3 l-16d. LAM B. Arrivals during the past fortnight total only 18.052 carcases from Australia, 104,620 carcases from New Zealand, and 10,188 carcases from the River Plate. The demand ,at Smi lifield is not active, froze ill's lambs at present offering retailers less attraction than Scotch and Dutch lambs, which arc -still living marketed freely, though -supplies of those descriptions are not quite so excessively heavy as they were two weeks ago. Nevertheless”, in view of the smallness of stocks of frozen lambs, and the- lateness of the season in Australia, there is a good inquiry for lambs in store and on steamers near hand, and sales of parcels in those positions are being made at' considerably above tlie equivalent of prices- “off the hooks” at Smithfield. Advances of fully -£d per lb in prices of Canterbury lamb under 421 b have lieen established-at the current, rates of .5 7-16(1 lor 36 to 42 Pis. Carcases of 42 to- 50lbs have come more into demand at 4£d per lb. Other New Zealand lambs range between spl and sjd per lb, accord : ng to size and quality. Australian lamb are quoted at 4-pi and. fid per. lb; and a similar range of-quotation; is current for River Plato lambs. BEEF. Arrivals consist of 1002 quarters from land and 56,192 from the River Plate. Heavy marketing of chilled South American beef and North American Ranch still selling at low prices have adversely affected the frozen article. The trade lias been exceedingly slow, and hind-quarters are again a shade easier. Fores are also fractionally cheaper on the fortnight. BUTTER. The arrivals from Australia this week have been practically nil, only 28 boxes having come to band per ‘•'Orillia” s.s., from' Australia. No shipments are reported from New Zealand this week, while from Australia 1700 boxes have been dispatched. Canadian stocks are light, but the demand for same is very slow. In fact, the position all round for colonial butter is practically the same as last week, remaining dull and lifeless. Siberian supplies are now, as usual at this time of the year, beginning to show a falling off, but prices remain unchanged from last week.