COMMERCIAL.

Gisborne Times, Volume XXVII, Issue 2592, 28 August 1909, Page 5

COMMERCIAL.

LONDON MARKETS

Messrs W. Weddel and Co., London, report as follows for the week ending July 16: Frozen Meat. —The fortnight’s trading in frozen meat has witnessed decreases in values of mutton, lamb and beef. New Zealand mutton is now at the lowest level on record, and lambs are at the lowest point touched since November, 1898. Mutton.: —New Zealand.—Arrivals amount to 89,604 carcases during the past two . weeks. As a result of the exceedingly low prices of New Zealand lambs it has been impossible to maintain values of small and medium weight Canterbury sheep. These shew a decline of about Jd per lb. and do not now realise more than 2|d to 3d per lb. The heavy weights are a slow sale, and sell with difficulty down to 2ld per lb. Best North Island brands are also weaker and realise only 24d to 2£d per lb. according to size. Secondary carcases are freely offered at 2-|d to 2|a per lb. for small weights, and 2d to 2|d per lb. for heavy carcases. Ewes are offered and sales' 1 made at 2d to 2§d per lb. Lamb. —Arrivals consist of 175,602 carcases from New Zealand, 18,604 carcases from Australia and 25,146 carcases from South America. It is felt that, prices of lambs are ridiculously low. even allowing for the heavy stock available, and that it is desirable in the interests of the whole trade to lessen the unrestricted selling competition amongst holders. The position was discussed at a meeting of importers held this week when an arrangement was unanimously agreed upon with the object of endeavoring to establish more uniform quotations. Canterbury lambs were sold last week at 3|d to 3fd. for under 361b5., 3§d for 36/421b5., and 3d to 3£d for 42/501b5.; but they are now held for 4d., 3Jd. and 3ld for 36/421b5., and 3d for 42/501bs^ Beef.—Frozen. —7.47 S quarters have arrived from Australia during the pasttwo weeks, 10.980 quarters from New Zealand, and 48.602 quarters front South America. At the beginning of the fortnight values remained steady, hut owing to the heavy supplies of chilled .beef marketed during the latter part, it was found impossible to maintain prices of frozen beef, which show a decline of id to £d per lb.