72 Market Prices. [april, 1908.] 



frequent reports of slowness in demand. It seems fair to assume 

 that mutton would have shown improvement had it not been 

 for the reduced value of wool. There has been more change in 

 the value of provisions; but the fluctuations have been by no 

 means uniform in character. While bacon has experienced a 

 decided fall, butter, in spite of the recent curious excitement, 

 is worth more at the present moment than it was a year ago. 

 Cheese is somewhat lower. Milk is exceedingly firm in value, and 

 although during the winter there have been times of scarcity, 

 notwithstanding the abundance of fodder, and summer contracts 

 are being made at some advance on last year's rates. Our dairy 

 farmers have therefore little to complain of at the moment, 

 and will commence the grazing season with cheerful prospects. 

 That considerable confidence is felt in the future of this branch 

 of British agriculture is shown by the continued excellent 

 demand and good prices for all dairy cows with any pretensions 

 to being good milkers. These are as dear now as they were in 

 the days when their beef value, when sold, was many pounds 

 higher than it is now. 



vStore cattle, especially those old enough for finishing, are 

 very dear, and the trade during the month has continued very 

 firm. Prices, in fact, are too high for a quick trade, the margin 

 of possible profit for feeding being obviously rather narrow. 

 Store sheep are being bought with caution, and little is doing 

 in them at present in English markets. In Scotland, however, 

 there is more life in the trade, and at Inverness on the 25th 

 March no less than 17,000 changed hands at about last year's 

 prices, notwithstanding the fall in wool and pelts. 



The wool trade has shown weakness during the month and 

 values have receded from the highest point of last year to 

 a considerable extent. The bi-monthly sales of foreign and 

 colonial wool which last about a fortnight took place at the 

 end of March, opening with less spirit on the part of buyers 

 than has been seen for several years. For several days this 

 depression tended to increase till the fall in cross-breds 

 amounted to something like 15 per cent, compared to the 

 last sale. Towards the close of the series, however, a reaction 

 set in and the sales ended with a much better tone, a good deal 

 of the above reduction being recovered. This points to the 

 existence of a healthier consumptive demand than might be 

 -supposed. 



