COMMERCIAL.

Gisborne Times, Volume XXVII, Issue 2678, 7 December 1909, Page 2

COMMERCIAL.

FROZEN MEAT

Writing under date London, October 22, Messrs' Weddel anti Co. report as follows: — Mutton. —Arrivals of New Zealand mutton during the past two weeks amount to 12,769 carcases. As a result of short supplies and speculative buying prices advanced sharply by fully Id per lb. during the early part of the fortnight. Later, however, the eager desire to purchase at\ bight rates partiallv ceased and prices accordingly became a shade easier. Canterbury carcases close steady at 4-id. per lb. for up to 64 lbs., the heavier weights at 4§d. per lb. North Island sheep are quoted at 4?,d to 4fd. per lb., according to weight. Secondary brands have been in good request and realise about 4Jd per lb. Ewes have been sold at 4d to 4£d per lb. Lamb. —Arrivals during the fortnight amount to only- 7,700 carcases from New Zealand, 883 from Australia, and 871 from the River Plate. Since our last report one of the most sensational rises in the history of the frozen meat trade has taken place, the market having advanced Ltd. per lb. in a few days.' Owing to the strong statistical position of the mutton market,* prices for sheep were advanced, and lamb prices commenced to move up in sympathy. Speculators then stepped in, and under heaw buying, values advanced rapidly -until Canterbury lambs touched sci. per lb., Southlands 45d. per lb., and North Islands 4ftd to At these levels however, holders endeavored to re-sell their earlier purchases, which then, showed a substantial. profit, but buyers were scarce, almost every small buyer even, liuving n, few to re-sell. J.he consumptive trade lias been exceptionally quiet, and, .tempted by. the lirghei values larger supplies of Scotch and Dutch’sheep and lambs commenced to arrive, which made it all the moie difficult to sell the frozen article. Lonseqnently the market, soon weakened, and closes weak at about- a cl. to J jd. per lb under the highest figures reached during the fortnight, with considerably more sellers than buyers. However, as the supplies of lambs to arrive during the next three weeks are exceptionally 1 i"lit it is not unreasonable to expect that ’prices will steady again later on. It is difficult to give exact quotations, but values to-day are round about to 4sd. for North Island lambs, lhe few River Plate lambs available are worth 4gd to 4gd per lb. Frozen Beef.—Tne arrivals during the fortnight amount to 21,399 quarters from Australia, 748 quarters from New Zealand, and 42,036 quarters from the River Plate. Fore-quarters have come in for a little attention, and values are about -Jd. per lb. clearer. Hindquarters, however, owing to the continued lowness of chilled beef prices, have been neglected and values remain unchanged. There is at the close a better feeling m the market, and the tendency is for prices to improve. HIGH COMMISSIONER’S CABLE. [Pm Press Association.! WELLINGTON, Dec 6. The High Commissioner’s cable, dated December 4th, states :- The mutton market- is very dull. iae average prices are: Canterbury o s a. North Island 3|d. Large supplies ox •Dutch mutton'are corning forward, ana selling at 4d to Hid. ~ English ewes are being lamb, and the market is weak. Canterbury averages -ofcCl, other New Zealand brands 3gd. The beef market is weak with no change in Tices. - New Zealand hindquarters 3id, forequarters 3d. There is a good demand for. butter at reduced, prices. Buyers are holding back, expecting prices to go lower. Supplies are increasing. The average price of choicest New Zealand is iios, Australian 112 s, Danish 1245, and Siberian. 109 s. . _ . The cheese market is quiet. Prices are slightly weaker. The average price of finest New Zealand is 565. The hemp market is quiet, hut hrm. Good business has been done in New Zealand ’hemp at last quotations. Good fair, on spot '£2B 10s; fair £27 ■ 10s: January-March. shipments, £2B and suit of heavy arrivals. The week s output of Manila is 28,000 bales. _ In wheat there is a firm market: Supplies of New Zealand wheat are practically exhausted. New Zealand long-, berried, on spot, ex granary, per quarter of 4961b5, is at 39s 6d; short-berried 395. - - , The oats market is slightly weaker, with less demand. New Zealand oats (sparrowbills) 19s 9d: Danish 17s. The* arrivals of River Plate mutton and lamb at British ports during November were as follows: London, 43,-

663 carcases, Jamb .6846; Liverpool, mutton 85,801, lamb 11,990 ; Hull mutton 9268,' lamb 2532; Southampton, •mu-fctori 1128, lamb 50 ;. Cardiff, 'mutton ’4739,'lamb 87.