COMMERCIAL.

Gisborne Times, Volume XXVII, Issue 2580, 14 August 1909, Page 2

COMMERCIAL.

■■■ -■'***' l "-~ l *»- HOME MARKETS. "• \ Onitki) Pukss Association- —Oovviuour (Received August 13, 11.55 p.m.) LONDON, August 13. "Wheat: Twelve to fifteen thousand quarters off new crop, Decembev-Janu-arv shipment, have been sold at £39. Pig-iron: 50s 2d, spelter £2 17s Bd. LONDON MARKETS. Messrs. Weddel and Co., London, report as follows for the week ending July 2: — Statistics of frozen meat importations to 30th June this year as compared with the same period of 1908, reveal increases (from all sources) of no loss than 1,000,000 carcases, of frozen mutton, 960,000 carcases of lamb, and 224,000 quarters of beef. The course of the frozen meat market during the past six months has been most disastrous from the' point of view of sellers. Values of lambs have steadily fallen all the time until they hav© now reached a ruinously low level, and, in spite of that, stocks have gradually accumulated to a most undesirable extent. Mutton has also gone through a period of very low prices, almost the only recovery being that which took place in small sheep during June. Short supplies and high prices of fresh-kil-led beef ultimately benefited refrigerated beef, and frozen beef closes firm at the highest prices touched this year. MUTTON. New Zealand. —Arrivals during the two past weeks total 255,036 carcases. The hope that prices could be raised somewhat has not been realised, offerings of medium and large-sized careases being more than the present restricted demand can absorb ; while values of small sheep are depressed by the low price of tegs. Prime Oantoroury sheep under 561bs cannot be quoted at more than 3RI per lb, the 56 to 64 lbs grade is offered at 3d, and heavy carcases range down to 23d. Best North Island brands of small weight realise 3d and 3'd per lb ; but the large grades do not attract buyers even at 21 d and 2yd per lb. Ordinary qualities are bein o- sold at 2d and 2Jd for large sheep, and 2RI to 2|d for the smaller weights. Ewes are steady at 2’d to 21cl per lb. Lamb.— Arrivals consist of 595,241 carcases from New Zealand, 12,40 b from Australia, and 15,385 carcases from Smith America. Unseasonably low temperatures are mainly responsible for some slackening off in the demand during the past two wedks, and, as arrivals are heavy, -a further sharp reduction in prices has to be recorded. Canterbury lambs are offered at 4£d for under 36’bs, 3ijd for 36 to 42 lbs, and 3for 42 to 50 lbs, but as prices havo fallen so rapidly of late buyers are now operating at 4d per lb. and medium weights at 3§d and 33d per lb. The sale of other North Island lambs is slow and difficult, notwithstanding tho very low level -of prices now current. Carcases under 321bs are offered at 3jd per lb, and the 36 to 42 lbs grade at per lb, while 42 to 50 lb carcases realise only about 3gd to Australian lambs are being sold at 3|d for under 36 lbs, and 3d and 3|d for 36 to 42 lbs. South American lambs range in price between 3d aml 3§d per lb. according to size. Beef. —Frozen: Arrivals have been 9952 quarters from Australia, 23,075 quarters from New Zealand, and 49,752 quarters from South America. Short supplies on spot and weather favorable to the demand for beef have made this the only department of the trade with an element of strength. The market closes steady at full prices. Chilled .—Arrivals from the River . Plate have been 32,084 quarters. In consequence of the reduced supply oi livo -cattle these moderate arrivals have gone readily into consumption at a high level of prices. Butter.. —The temperature generally remains much below the .normal and rains have been very plentiful. In London, June was the coldest month tor o2 years. . AT The demand for Australian and New Zealand butter is very slow and little business is passing in consequence. Prices shew a decliriing tendency, especially for Australian. There are no shipments this week, and arrivals consist of the Oswestry Grange with 15,942 boxes from Australia, and the Arawa, with 546 boxes from New Zealand.