N.Z. PRODUCE.

Press, Volume LXI, Issue 18547, 24 November 1925, Page 10

N.Z. PRODUCE.

LONDON WOOL SALES. CONTINENTAL AND AMERICAN DEMAND. (rXOJt OUR OWH COKBESPOBBSKT.) LONDON*. October 15. During the fifth scries of London -wool sales of the current year 212,9;!3 bales were catalogued. New Zealand contributed 8-,258 bales to this total. The. quantity sold amounts to about bales, of which some 116,000 bales have been taken for export, including 7000 bales purchased for shipment to America. The strong Continental demand, which was the feature nf the July series continued during the interval, and considerable quantities of woo! were sold in this country to French buyers in August and early September. At the same time, wool was selling freely in Australia, but the level of values at the principal centres there was-well below London July parity. In these ••irciimstaiices, while i! was generally experts! that the sales would open well. Messrs Chores rtahne and Company say some anxiety was felt as to whether the full quant.ty available, could be sold without some fiiling-oft" in values. At the beginning of the series French buyers dominated the market, not only purchasing the wools generally considered suitable for their requirements, but also taking most of the greasy crossbreds catalogued. During the second week the American trade began to compete for crossbreds, and many fresh Continental, representatives came into the market, while "in the latter part of the sales Yorkshire buyers operated much more freely. As a result, so far from there being aiiv weakening during the second half of the series, the auctions closed at their highest point, values for tine wools being well maintained, while prices for the lower qualities of crossbreds and for merinos suitable for th* Home trade finished appreciably above opening rates. Europe is Confident. While no doubt the shipping strike has had some influence on the market, (he satisfactory result of the series is princ pallv due to the fact that Contineatal users show confidence in the present level of wool values. The Home trade, however, seems reluctant to operate at current prices; but finding it impossible to buy more cheaply they have been compelled to come into the market to satisfv tneir immediate requirements. Good combing greasy merinos did not sell well during the earlier part of the sales prices for them being at times fully 5 per cent, lower-; later on, however, thev met with ? Dd at the *li«e «» ex\,Xl t fi he , b( ' Bt . Ascriptions had recovered to Juiy final rates. Continental wools were in Heece wooT d the series, values for and broken f hmV '" g n ' K whi 'e Pieces ana broken were 5 per cent denror ti.„ SZd o v^ b f^ unaltered, but inferior and faulty sorts, after 1, ° PEning ' i»»:>«v«l. and may Am?™ W pat , t0 5 pcr cetU " aW. tZT 8 l^ 6 ! CKMl '*ds.- Australian com* closed from par ( 0 5 per cent, above tbc- July level, but average New Zealand naifbreds were slightly cheaper. Medium and coarse dualities, aiter opening from par to 5 per cent dearer, advanced as the sales went cm, and at the finish showed a riseof ,' per cent. Sliped halfbreds sold irregularly, at times being fully 5 per cen &. lower, •but by the close had :ecovered most of this decline; the lower qualities of slipas, however, were in good demand and appreciated about 5 ner,' cent., the advance being most pronounced on the shorter and inferior descriptions. Prices • for fine crossbred scoureds shewed little change, while medium and coarse sorts were 5 per-.cent, dearer.

- Closing Bates. As compnred with last series' closing- rates, Messrs Balme quote: Current prices per lb. • d. ■ d. •Australian and New Zealand Merino: Grease Superior, par to 5 p.c. cheaper 27 —34J Avge. to; gocd, par to 5 p.c. dearer 20$ —26& ' Poor condition, par to 5 p.c. dearer 15 -^2O Inferior pes. and Iks., S p.c. dearer B—Mi8 —Mi Scoured — , Superior, par .. .. 46—58£ Average to good, par .. .. 34—45 , Inferior, par to 5 p.c. dearer .. 23—33 Faulty pes and !lks; par to 5 p.c. d'r 15 --22 New .Zealand' Crossbred: ' Grease"— ■ * : Fine, superior,' par .. .. 19J—24J Fine, ord., par to 5 p.c. cheaper 15 —l9 Medium, superior, 7J to 10 p.c. d'r. 17—20 Medium, ordinary, 7i' p.c. dearer 14 —164 Coarse, superior, 7J p.c. dearer 14J—15J Coarse; ordinary, 7J p.c. dearer 12 —l4 Scoured — Fine, superior, par .. ... 33 —47 Fine, ordinary, par . • ... 22 —32 Medium, sucerior, 5 p.c. dearer 23, —31 Medium, ordinary, 5 p.c. dearer 17—22 Medium, coarse, superior, 5 p.c. d'r 38 —22 Medium, coarse, ord., 5 p.c. d'r. 14 —l7 Slipod, -fine, sup., par to t p.c. fch. 22 —27J Sliped, fine inf., par to 5 p.c. ch. 18 —2ll Sliped, med., sup., par to 5 p.c. d'r 18 —22 Sliped, medium., inf., 5 p.c. d'r. 15 —174 SHped, coarse, siip.,'p ar ** 5 P- c - d' r 154—1* Sliped, coarse, inf., 5 p.c. dearer 13 —ls

The final series of the year is to open on November 24th. Owing to the shipping strike, many wools intended for these sales will'npt arrive in time, and it is estimated that the quantity available for them will not exceed 140,000 bales. The fi"t three series of 1926 have been arranged to open on January 19th, March 9th, April 27th. i Home-Killed Meat. Jtesßrs Michie andl White, in their latest report, say that the meat . trade, on the whole, has been very qttiet, due to a large extent to the tremendous quantities of.homekilled mutton and lamb that have been arriving .on . Smithfield. The quantities for the past fortnight or so of home-killed, meat have been in excess of the same time last year W something like 200 to 400 tons per week more. This has undoubtedly affected the'frozen business, and although there has not x \been any real weakening in price* since the last substantial advance, yet the trade has been very quiet. It is generally thought, however, that the supplies of homekilled' lambs will ease up considerably from now on, and that a better demand will be Been for the frozen. Prices for Canterbruy and selected North " Islands continue ■on a very satisfactory basie, namely: Under 481b, SJd; 48-56, BJd; 56-64, BJd; .64-72, Bid; over 721b, Bd. 'The average run of ordinary North Islands can be quoted Jd per lb down all round. Ewes .have been quoted on the basis of 7d to 7idi all round for 1, 7s, 3s, and 1 9s. •.•'■■'

With regard to lambs, virtually the same remarks apply, and prices are and selected North Islands 2s. la OJd: Bs, 11 Jd; 4s, 101 d. This latter article has been ■very( slow indteed, and.is about $d down on the preceding- week. Secondary lambs, seconding to average, vary from lljd to Is. Ordinary North Islands, taken as a whole, can be quoted id per lb dyjwn on the above prices. Plat* lambs vary from 7Jd for over 50lb, Bdl for 48-50lb lambs, 9d to 9Jd for 36-421b, and lOkl for under 361b lambß. With regard to beef, forequarters and 1 crops are exceptionally firm on the basis of 4jd to 4jfd. Hinds are quiet at 53d-to ojd. Prices ruling at Gill street. Market, Liver: pool, diuring the week : ended October 9th are: —New Zealand lamb, Is to Is OJd; New Zealand ewe mutton, 7d to 7Jd.

FROZEN MEAT MARKET. The New Zealand Loan and Mercantile Agency. Go., Ltd., received the following cablegram • from London, . under date 20th instant: — "Lamb—lOgd per lb (average)."' "Mutton —Wether and maiden ewe, light 7id per lb, heavy 7Jd per lb; ewe, light 5Jd per lb, heavy sd. Market weak." DAIRY PRODUCE. The National Mortgage and 'Agency Co., Christchurch, have received the. following cablegram from Messrs A. J. Mills and Co, London: — "Butter—The market is quiet but 'steady at 306s to 906s'per cwt. "Cheese—The market is steady at II 2s to 114s per cwt.'' PROPERTY MARKET. Jones, MeOrostie Company, Ltd., gold by public auction in their rooms yesterday, on account ot the Public Trustee", ab executor of the will of Charles Watson Rountree, deceased, the .property situate No.' 194 Hlgh■ted road, Papanul, containing 4 acres 3 roods 1,8 perches, together,with the Bqnare residence of 5 rooms, with all offices and outbuildings, for the sum of £llsO, to Mr W. J. Esdy; and on accoant of the Publlo Trustee, as executor of the will of L,. W, Balklnd, deceased, four sections on Woodhanr road, close to Wilding Park, to three different clients. Lot 1, containing 34.3 perches, realised £155; Lot 3, containing 28.1 perches, £lßs'; Lot 3, containing 28.1 perches, 1180; and Lat 4, the same area, XIBO,