COMMERCIAL.

Gisborne Times, Volume XXVII, Issue 2502, 15 May 1909, Page 3

COMMERCIAL.

London markers. Un »^K 6S Association Copyiuciqi At the D + 'May 13. ■sales at Uiere were good brought llgd N ' . Avondale c'in Tho wheat feaX’". BH. P the weakness in \\ 3S .dull owing to afloat arc beia g “ Cargoes ; • doT, >«no'iV Co , of Lon- ■ market for-the week "blitter —riie demand for AuA. Alarch 26 : Zealand biitter\ on ti nUG r lfl n and New to sellers, as it V doX n fS , last two or three w.durmg the ; fficult to ascribe tke v s Ver .v di- f this state of things as "I*.. t ca use for L of it nearly every authority gl\ ‘"'tion forent reason. It certainly Is , to increase of imported 1 they have been steadily declining. I may have arisen owing "to large stocks, but now most of those large firms who regularly store goods for their winter requirements have either cleared their stored goods or are just doing so. It is reported many small firms who, in former years, did not put away butter did so this year, but their stocks must be now also exhausted. Regarding supplies, the total imports of all kinds of butter for the month ending 20th March are 19,000 cwts. less than in the same period of 1908. Again tlie total imports of all kinds of butter for the month ending 20th March, 1909, are 47,000cwts. less than for the previous month ending 20th February, 1909, thus we have had for the past month largely decreasing supplies accompanied by steadily falling prices, and as receipts will continue to largely decrease—excepting the home make, which, however, is insignificant in comparison with the fading-off in imports—the situation appears to have been brought about against all the ordinary laws of supply and demand. The most feasible explanation of the present situation appears to he that cold stored stocks have been so large that the shortage of imports has not yet had any effect. If, however, tho stocks are now virtually exhausted, the coiitinuance of the deficient supply should soon make itself apparent, notwithstanding the revival of imports from Canada of small parce’s of butter stored last summer and autumn. New Zealand-butter is about ‘ the best value on the market at present. It is 6s below last year at this time, Australian is 3s below', Russian 4s below, while Danish is 2s more than last year. For the w r eek ending April 2 they, report: —The market for Australian and New Zealand butter has shewn great weakness during the past few days, and some of the "boars” have thoroughly enjoyed the panicky situation, while the have had a trying time. The market closes with most irregular prices, some holders acting so erratically that it is difficult to quote accurate figures, but they are undoubtedly several shillings below those at the end of last week. The larger buyers have restricted their purchases to the barest possible limits, and consequently there is a sense of uncertainty as to future values among some of the nervous holders, which, however, is quite unnecessary according to the statistical position which continues on the “bull” side. On 26th February it was pointed out in this report that the deficiency of Australian and New' Zealand butter during March would be 3,135 tons compared with March, 1908. From to-day s report it will be seen that tho shortage is actually 2,881 tons. The cables therefore understated the shipments by 204 tons. The prices for Australian are 10s below same week last year, New Zealand 12s, Russian 10s, Danish 2s, and French 2s. This shews the very depressed state the market is in. FROZEN MEAT. They report as follows on the frozen moat market to March 26th: The first three months of this year have witnessed markets for frozen meat so seriously depressed that wholesale buyers now refuse to operate except from hand to mouth, and, as the retail trade is abnormally slow, disappointingly* small progress is being made with tlie realisation of stocks, even although prices all round are almost all Id per lb. lower than at this time in 1908. Mutton— New Zealand—Arrivals during the past two weeks amount to 49,090 carcases. Numerous holders have been forcing sales at values lower than those ruling a fortnight ago, but these tactics have met with only little successes, as the quantities going into consumption are still very small, the amount of business passing being quite of a retail character. Canterbury sheep under 48ibs. and 48/561bs. are not plentiful, and aell at-. 3fd. per lb./rtlio 5(3/64 ■ lbs. grade realising Sfd. per lb. Heavier weights are not required, and as the supply of these is fairly heavy, not more than 3d fier lb. can be obtained for 64/721b5., and 2§d. for over 72’bs. Prime carcases of North Island mutton are again offered at lower prices, light and medium weights being quoted at about 3Jd per lb., and heavy weights at 2§d. to 2|d. por lb. Second quality carcases have had a further set-back, and are being pushed for sale at 2hd. to Tier .lb., according to weights. Ewes lire mostly too heavy for current icfuirenients, and do not attract buyers, oven at 2£d. to 2gd., which about represents current quotation. Lamb. —Arrivals consist of 98,163 carcases from Australia, 109,008 carcases from New 'Zealand, 26,214 carcases from the River Plate and 2,328 careases from Uruguaya. There is as yet almost no demand fox lambs, and, iu n supplies heavy, tliore is a good deaUo competition amongst sellers to seciue the few orders obtainable. Under the circumstances values have gradually ieceded, hut without creating any better demand, sales in London and tho Proviscos being particularly few clifficult for this time, of the year. • Canterbury lambs are being sokl slowly at 43d. for u/3Glbs.; 4Jd to 4§d. for 36(4* lbs.; and 4d, to 4jd per lb. for 42/o0 lbs. Best North Island lambs cannot be quoted at more than 4£d., ordinary quality at 4Jd to 4*d,, and inferior-at 4d Australian lambs of best quality realise only 3*3. p<fr 1 b.,,. good quality being obtainable at 3gd to 3*d., andinferior sorts at 3*d per lb River Plate lambs are offered at 3Jd to 3«d pel lb. Beef .—Frozen. —Dunn g the fortnight arrival amount to 7,483 quarters from Australia, 13.604 quarters from -New Zealand, and 'LOGO q mute is fiom South America, including 7,830 quai tors from Uruguaya. Frozen beef lias been most difficult to. sell; heavy sum plies of South American chilled bem offering at very low prices having temoonir9v stopped sales. Fore-quarters ai-o particularly neglected and cose I verv weak.