COMMERCIAL

Gisborne Standard and Cook County Gazette, Volume II, Issue 259, 12 February 1889, Page 3

COMMERCIAL

THE SYDNEY PRODUCE MARKETS. From the N.Z. Loan and Mercantile Agency Company’s last report, we extract the following items of interest to this district: — Butter (duty Id per lb).—The market could not well be in a more unsatisfactory condition than it is at present. Local butter is still coming in freely, and the Butter Company have again reduced their quotations, their top price now being 9d per lb. Business therefore in the imported article still continues almost at a standstill, and any attempt to force sales in the present stagnation of the market by reducing quotations, would not lead to business unless the reduction was carried to the point of ‘ ‘ sacrifice. ” The frequent rains too, which we are now experiencing, militate against better prices (at present, but we hope to be able to report an improvement in our market when next writing, as advices from the neighboring colonies are rather more encouraging. As we write, we are unable to quote best New Zealand separator at above 9d per lb., dairy-made butter ruling from 6d to Bd, according to quality. Cheese (du y2d per lb).—A large supply of loyally made cheese still continues to come forward to this market, but the quality is very irregular and prices range from 3d to 7d per lb. New Zealand cheese has come forward rather more freely since last writing, and is marketable at up to 7|d, loaf cheese being quoted at B|d to BAd, and being at the moment in rather short supply. Hams (duty 2d per lb) still continues dull, and are to-day quoted at from lOd to Is per lb.

Bacon (duty 2d per lb)—The firmer ter. deucy mentioned in our last has been well maintained, and prime light weights are today quoted at lOd per lb, with indications of even better prices before very long. Maize (free). —Since writing on the 11th instant, the market has declined considerably and best locally grown corn cannot now be quoted at over 3s 8d per bushel, inferior and weevily descriptions ruling from 3s upwards. The American corn now on the market is being held for from 3s lOd to 4s, as prime corn is now in rather short supply, though the market is more than well supplied with maize from the rivers, which is more or less affected with weevil as is usual at this season of the year. Wheat (free).—Millers are not yet showing any inclination to purchase, and holders as a rule do not see their way to reduce quotations to a poiqt which would tempt dealers to operate. The position therefore is but little changed since we last wrote, most of the stocks which were then on hand being still held in the hope of an improved market. It is understood that one speculative transaction to the extent of about 7,000 sacks of New Zealand Tuscan has taken place, the price being stated to be 4s 6d c.i.f. Sydney. Oats (free). —Notwithstanding the strong statistical position of the oat market in New Zealand according to advices received from there, our market remains in the same drooping position as when we last wrote ; in fact, the weakness is even more pronounced, aud if the report be true, which appeared in a Christchurch circular last week, that samples of the new crop were already offering, we fear those who have been holding in the hope of an improvement are not unlikely to be dissappointed. We offered the cargo of the “ Braziliera ” on the 18th Inst, but the sound portion of the shipment was withdrawn, the biddings for the prime qualities not coming up to our idea of value. The salt-water damaged portion of the cargo sold from Is 6Ad upwards, according to the extant of damage sustained. Potatoes (free). —The Potato Market since writing on the Hth instant declined to £lO per ton, but within the last week prices have again improved, the demand being in excess of supplies, and we to-day quote :—Warrnambools at £l2 10s per ton, Circular Heads at £l4 per ton, N.Z. Blue Derwents at £l3 10s per ton. Flour (free). —Although no improvement has yet taken place in this market, it is generally thought the bottomhaa been touched, and that the hoped improvement is now at hand. Prices are nominally:—Roller Brands, £ll 10a to £l2 10a : stone brands from £lO.

Hides (free). —The market continues without much change, prime extra heavy descriptions being again imost sought after. At our last sale we secured the following rates. Prime extra heavy, 34d to 4Jd; heavy, 3d to 3gd ; medium, 2£d to 3d ; light, 2jd to 3d; dry, 2Jd to 3gd ; horse hides, 2s fid to 8s each, yearlings, 4s to 7s 9d each; calf Is to 2s 6d each.

Tallow (free).—ln consequence of recent cable advices reporting a decline in the English market, prices have eased locally, and we now quote: Prime Beef, at from £24 10s to £25 10s per ton ; Medium, £23 to £24 ; Inferior, £l9 10s to £23.

New Zealand Meats (free). —Still continue to meet with fair enquiry. Woo! (free). — The wool season proper is now rapidly approaching a close, and the regular weekly auctions will now give place to fortnightly sales. The sales Which openedjin October have without doubt been the most successful series ever held in Sydney, and the quantities sold locally, approximating 180,000 bales, testify to the growing popularity of this market. At our sale on the 21st, we brought forward about 920 bales. The catalogue consisted for the most part of wools withdrawn from earlier auctions, and for these competition was far [keener than is usual in the case of parcels which have previously failed to find buyers. The continental section of the trade operated with great spirit for medium to good greasy descriptions, the result being a full maintenance of late rates with occasionally an appreciation thereon, Scoured sorts under the influence of strong bidding from the representatives of Yorkshire maunfaoturing honses were also in stronger request, and realised slightly higher values. Sheepskins (free). —There.is a strong enquiry for good sound pelts, which are in request for shipment. Other descriptions sell briskly at late rates. We quote:—Best full woolled, 5d to 5Jd; medipm, 4d to 4fd; short broken, etc., to 3Jd.