COMMERCIAL.

Gisborne Times, Volume XXVIII, Issue 2772, 30 March 1910, Page 2

COMMERCIAL.

LONDON MARKETS. Tlio New Zealand Loan and Mercantile Agency Company Have been advised by their London office':—Tallow: We quote present spot values of the following descriptions of tallow: Fine mutton 35s 9d, good beef 35s 6d, mixed 34s ;< market firm. Wool: As compared with last sales’ closing rates, prices are about 5 per cent, higher for merino medium and inferior, scoured merino _ super, lambs, fine scoured crossbred. Prices are about par to 5 nor cent, higher for greasy merino super and crossbred sl'ipe; lower about sto 7-1 per cent, lor coarse crossbred ; about 71 to 10 per cent, lower for medium greasy crossbred : 10,000 bales of wool held over; 130,000 bales sold at sale; 46,000 sold for Continent; 6000 bales, taken, tor: America. Sales closed with good competition. Average current London value of the under-noted descriptions of New Zealand wool: Good merino 14d, medium do 12d, inferior do 10d, fine crossbred 15d, medium do 13d, coarse do (40’s) lOd, coarse do (36 s) vl<i. FROZEN MEAT. Writing under date London, Feb. 11, Messrs. Weddel and Co. report as iol--10 Mutton. —New Zealand.—Arrivals du_ ri n o- the past fortnight amount to 49,461° carcases. .Canterbury descriptions are still scarce and dear, 48-64 lbs grade being worth 43d .per lb., and heavier freights 4d per lb. Prune North Island and Southland sheep sell slowly at JjU to an occasional 3gd per lb. Secondary carcases arc more plentiful, and with some weak holders medium weights have been sold-at 3§d per lb. Theie is a fair inquiry for 6wes> but -with stocks short values are nominal at 3ld to 3|d per lb, Lambs. —Arrivals during the fortnight amount to 44,3i5 carcases iiorn New Zealand, 75,402 carcases from Australia, and 11,079 from the River Plate. The market lias steadily improved since our last report, lighter arrivals and moderate stocks causing many buyers, who were without stocks, to come into the market and seciuc their requirements for the next few weeks. Although the higher prices 'have slightly cheeked the demand, the present rate of consumption is quite sufficient to prevent stocks from accumulating, and as quantities afloat aie light, the advanced level of prices can be very easily maintained. We quote to-day:—.Prime Melbourne lambs at 4d per lb., and best Sydneys and Adelaide lambs at 3|d to 4d per lb. Secondary carcases are worth 33d per lb. Owing ’to shorter supplies and high prices of Scotch mutton and “tegs” there lias been a very good inquiry for new season’s New Zealand lambs, and recent arrivals of North Island lambs, ex Stai of Scotland, are selling freely at 4RI "to od per lb. The lew Cantorburys available are making 5Ad per lb, and “W.M.E. Co.” lambs 5-Id per lb. Beef. —Frozen. —Arrivals during the past two weeks amount ters from Australia, _11,951 quarters from New Zealand, 75,261 quarters from the River Plate, and 12,366 quarters from Uruguay. Ibe m:ld and muggy weather at- the early part of the fortnight checked sales, but, towards the close better climatic conditions brought about a demand, and values are now quite firm for both fore and hind quarters. BUTTER Writing under date .London, Feb. li, Messrs. Weddcl and Co. report as follow :—The market for Australian and New Zealand butters has been somewhat quiet, and prices more difficult to maintain. Some few holders have shown temporary weakness, especially those who have' bought forward at prices far below present values, and who can therefore resell at 2s below today’s prices, and yet make a handsome profit. Speaking generally, however, prices are about 2s less than last week, and the market not quite so firm. The Otway’s butter has gone into consumption satisfactorily, and the onlj' thing that can reduce prices to any extent now is a larger substitution of margarine for butter by the masses. The scarceness of secondary butter and its consequent high prices which have prevailed for some time must have long since turned over the bulk of buyers of cheap butter on to margarine, so that there cannot be another great turnover of buyers now. There is no alteration to record from the general position of supplies as stated in this report last week. Arrivals this week have been the Otway from Australia with 39,458 boxes, and shipments this week consist of only 23,250 boxes in the Opbir, from Australia, and 41.200 boxes in the Rualiine from New Zealand.

HIGH COMMISSIONER'S REPORT

TPer Pukss Association. 1 WELLINGTON. March 29

A cable from the High Commissioner, dated the 26th inst., states: The produce markets are quiet generally on account of the approach of the Easter holidays. The average price of Canterbury mutton is 4J. The price is nominal, no stock being on hand, but supplies are likely to increase. North Island inntton averages 3§d. The average price of Canterbury lamb is s|d, and of other New Zealand lamb sgd. For New Zealand beef the average prices arc: White 625, colored 60s 6d. There has been no changes in the prices of hemp. The Manila output for the week was 28,000 tons. At the wool sales, 6200 bales of Now Zealand wool were held over from the series which closed iast week.