N.Z. PRODUCE IN LONDON.

Press, Volume LXVII, Issue 13986, 8 March 1911, Page 5

N.Z. PRODUCE IN LONDON.

THE WOOL SALES.

IMPROVING CONDITIONS.

(FROM OCR OWN CORRESPONDENT.)

LONDON. January 27

l'"o_*s havo interfered considerably with the progress of tho wool wiles, and !).kJ light has caused a postponement on no fewer than three decisions. The improved tone which was noticable 0:1 the second evening of tbe series has become moro pronounced, and values .no now decidedly better than at the opening. Competition is animated, and while tho Home trade is still taking the hulk of the offerings, there is moro demand on Continental account, and American buyors are also operating to a certain extent. Greasy merinos, when of good combing length, are sollint; at prices very little below the December level; inferior parcels, however, and scoured wools generally, show a decline of v to 7_ per e.'nt. Quotations for greasy crossbreds now stand about .*> per cent lower than last series, Messrs Balmo mentioning that the fall is most marked on the finest qualities. Scoureds and slipes are in small supply, and meet with good competition nt about December rates. The New Zealand liOan and Mercantile Agency Company notes that a few lots have been taken for United States requirements, but thero is no active enquiry from that quarter, the Home trade being the principal operators. With the 'progress" of the sales competition has improved, and with more confidence in the bidding, values have hardened, so that in the case of tho best descriptions of merino and crossbred .generally there is little change from December rates.

Messrs Weddel remark that there is far less of that pessimistic talk which was indulged in so freely a fortnight :igo. confidence having to a great extent been restored. GRAIN. New Zealand Wheat.—Ex store there has been a fair demand, and some of the better qualities have sold at 34s and aro now held lor 34s (kl, Avhile average samples come in for buyers at 33s to 33s (id per 4961b5. Messrs Weddel note that there has been a k'air quantity arriving, and those parcels have been dealt in at 31s (kl to 32s 3d per cwt. on sample. New crop oilers at 34s ci.f. per 4801bs. but this figure is much beyond buyers' ideas of value, and thero is consequently nothing doing in this -yosition at the market. New Zealand Onts.—Stocks are very limited, nevertheless tho demand remains meagre, as Continental nnd River Piute varieties continue to oust the Colonial sorts at relatively much cheaper rates as compnred witli_ the tolloivinc quotations:—Gartons I7s 6d to 20s (id, B*%arrowbil_s 17s to 19s 9d, Duns 17s Od to 19s, Banish nominally 16s Gd to 17s 3d. Blacks 17s 3d to 19s, while somo lots of inferior qualities have been sold at down to los per 3201 bs. Pea.*.--Values continue firm, and for what there is offering holders still ask 43s to 19s per 5041b5. Messrs Weddel renort that for new crop No. 1 New Zealand Partridge, March-April shipment, buyers aro ooen to go on at 42s c.i.f.. hut shippers ask for more money, and at present there is a deadlock, and new crop Tasmanian No. 1, MarchApril shipment, has been sold at as hitrh as 46s ci.f. U.K. per ."5041 bs. Beans are in very small supply, and holders continue-firm in their ideas of value, which is 34s 6d to 36s per Cocksfoot.—The New Zealand Loan nnd Mercantile Agency Company write that the market continues very quiet, and only business of a retail character lias been done, while prices have given way (>d to Is ior cwt. New crop has been offered hero, hut so far no transactions have been completed, the nrice asked being too hich; 171b seed if quoted at 73s to 73s 6d per cwt. ex warehouse. TALLOW. FLUCTUATING MARKET. A fortnight ago there was a strong demand for Australasian tallow, and prices for forward shipment on the spot advanced 6d per cwt. During the past week, however, business has been less active, and values forward have declined 6d per cwt. from the extreme prices Daid, while on the spot the market is emoted unchanged, but the tone is decidedh-' quieter, especially for mutton. On c.i.f. terms 36s was paid for good mixed, and 34s 6d for no colour; hut 6d per cwt. less money would he "nearer the mark to-day. In mutton the demand is slow, and few sales aro reported, hut SRs 6d was paid for a small"line of "fine" quality. NEW ZEALAND FLAX. Bayers show but little interest in the market for New Zealand flax, and prices have fallen 5s per ton during the month. The New Zer.land Loan and Mercantile Agency Co. quote:— Good fair "soot" £20 15s, JanuaryMarch £20 os. fair "spot" £20 ss, (norn) January-March £19 15s. and fair current Manila £19 15s to £19 per ton, c.i.f. Tow is in steady demand at £12 os per ton, c.i.f. DAIRY PRODUCE. Advance in values has caused a decline in demand for New Zealand and Australian butter during the week, and, as there was a general opinion in tho trade that prices were forced and were not the result,of an improved demand, many have held off the market, relying on their stocks to carry them on until prices receded. Messrs "Weddel say this abstention has nature lly brought about the reduction in quotations, and prices may now he quoted for both classes of butter at •*bout 4s to 6s less than a week ago. The Ruanehii is docking to-day with C 2.400 boxes of New Zealand hutter. The cheese market continues firm at advancing rates. New . Zealand choicest is a shilling below Canadian choicest, which is making 62s to 63s for coloured, and 59 to 60s for white. ADVERTISING BUTTER. The advertising campaign of New Zealand produce, to which I have referred, gives Mr G. Goodsir (Messrs Weddel :*nd Co.) the opportunity for writing to "The Standard of Empire" to point out that "the farmers of the Dominion make the finest butter in the world—almost without exception. It is not often sold as French or Danish, for in its imported character any expert could distin__uisb it from either of these descriptions by , its texture and flavour." Mr Goodsir says colonial butters are not sold under their proper names "simply because the Governments in Australia and New' Zealand have failed to advertise the splendid merits _ of their wares. It is almost impossible that private firms can spend money in advertising the general merits j' PS< r P r<xn,c ts. If you can persuade the Governments to advertise all over the country. the prejudice which your correspondent uistlv complains of would soon disappear. 'Wake up, Australasia!' " NEW ZEALAND MEAT. Canterbury sheep continue to lie scarce, and are quoted at about 4i<l per lb forj the 48-C4lb grade, and 4_d lor heavier weights. North Island sheep of prime quality are a shade easier, but the demand is good at the reduced quotations, which Messrs Weddel thus give: 4Jd to 4gd per lb for medium weights, and 4|-id per lb for the heavy weights. Secondary grades sell slowly at 4d to 4"d. and ewes 3J-Jd per lb. Really good quality Australian lambs are not too plentiful, and meet with a fair enquiry, many buyers using this meat in view of scarcity and high values ruling for New Zealand lamb. The few

New Zealand lambs available aro selling at ojd to 6d per lb for Canterbury.?, and s£d to ojd for North Islands. Stocks of frozen beef are undoubtedly small, and prices have advanced about id per lb. There has been a good enquiry and closing prices are firm. Of New Zealand mutton, the C.C. and I>. Company remark : Stocks are in limited compass, but the demand has been such a negligible quantity that difficulty has been experienced in maintaining prices, and values are slipping away. Canterbtirys are too scarce to bo quoted. North Islands are no better than 3ld to 4id per lb. and even this reduction has not been followed by any increase in sales.

Some 40,803 carcases of New Zealand lamb have just arrived, but the previous small shipments are not yet exhausted. The demand is trifling, but prices do not show any further decline, although they cover a fairly wide range. Stocks of all frozen beef are light, and prices for hind-quarters are firmly maintained at last rntes, while forequarters have appreciated fully Jd per lb.