NEW ZEALAND PRODUCE IN LONDON.

New Zealand Herald, Volume XXXIX, Issue 12027, 25 July 1902, Page 7

NEW ZEALAND PRODUCE IN LONDON.

("FROM our OWN CORRESPONDENT."!

London, June 21. s WOOL. The New Zealand Loan and Mercantile Agency Company report that since the close of the third series of wool sales no fresh features of importance have occurred as re-

gards the raw material. The position of the market, on the whole, is healthy, and prices, though showing a little unsteadiness for crossbred produce,; are generally maintained. Consumption continues to be upon a large scale, though complaints are rife that, users arc disinclined to stock against future requirements. From the Continent reparts indicate that manufacturers are generally well employed.

The National Mortgage and Agency Company write, saying that it is estimated that about 221,000 bales of wool were disposed of at the last sales, 110,000 bales being taken for export, including about ,3000 for the United States. Since the close/ of the series transactions in the wool market have been con-

fined to the clearing out of a few withdrawn lots, and the market generally is much in the sama position us it was then. In the manufacturing centres the business in wool and tops has been somewhat "slow, as users are still resisting the higher level of values demanded, but holders ore very firm, particularly for merinos and fine crossbrods, which are considered to be in a strong position owing to their, probable scarcity toward the close of the year.

NEW ZEALAND MEAT. It is stated by the New. Zealand Loan and Mercantile Agency Company in their latest report that the demand for, all descriptions of frozen mutton during the past three weeks has been slow, and in consequence values have ruled easier, prime Canterbury mutton being to-day worth from 2s 8d to 2s lOd, Dunedin and Southland 2s 6d to 2s Bd, end

North Island 2s 4d to 2s 6d per stone. Holders of lamb have shown a disposition to press sales, and with a by no means active demand values rule in buyers' favour, especially for Canterbury grades. * Prime Canterbury lamb is now quoted at from 3s to 3s Id, and North Island 2s> 8d to 2s lOd per stone. The market for beef,has been inactive, and with a large quantity of River Plate offering lower prices have had to be accepted for New Zealand beef. Hindquarters now rule from 2s lOd to 3s and forequarters from 2s 4d.to 23 6d

per stone. • • For New Zealand rabbits, the National Mortgage and Agency Company tell me that the demand has been fairly good until the present week, but the warmer weather has set in, and there is the usual falling off in requirements. Arrivals have included about 6100. from New Zealand. The.following are the current prices for reliable brands of New Zealand rabbits: —Selected, 31b, up to 8d each; large, 2ilb, up to 7d to 7id each; young, 21b to 2£lb, about 6d each.

DAIRY PRODUCE.

The National Mortgage and Agency Company say that values for New Zealand and Canadian cheese have receded; • demand for Canadian has been fairly good, and supplies have been readily absorbed. New Zealand cheese is quoted in tins report at 52s to 56s per cwt.. the latter being also the top price for Canadian cheese. Tho New Zealand

Loan and Mercantile Agency Company note that New Zealand cheese has been more or less neglected, the quotation given being 50s to 54 per cwt. Messrs. Weddel also say that old New Zealand cheese is making from 50s to 54s per cwt In the Glasgow market, I hear from Messrs. Mathie and McWilliam, New Zealand cheese continues to move quietly but steadily into consumption. Coloured cheese is in better demand, but the supply of tlus class ;is restricted. White, cheese is more difficult to move, arid the stocks in importers' hands are principally of this kind. The quotation for New Zealand cheese is given as 55s to 565. The Colonial Consignment and Distributing Company tell me that the New Zealand cheese brought by the Paparoa has been dragging, with. prices gradually declining.' Tho arrival 'by the Kumara is now in dock, and the Colonial Consignment and Distributing Company express the fear that it will nob clear very rapidly unless a considerable- reduction in price is made. Strictly choicest No. 1 grade .s quoted here at 53s to 545, and other grades at 48s to, 51s. The Colonial Consignment and Distributing Company also note that there has been some demand for New Zealand butter ex cold store during the past few days, but very little has been obtainable.

MISCELLANEOUS. The New Zealand Loan and Mercantile Company say that heavy' arrivals of grain and a by no means brisk demand have exercised a depressing effect on the wheat market generally, and values for cargoes must be quoted od to Is per quarter lower, the spot demand, for the same reason, also being very dull. There are no oate or beans.' For cocksfoot the market is said to be very strong, and considerable business could be done at Tip to 49s per cwt c.i.f. for 171b seed. Offers of the better grades, however, have of late been restricted, while sellers have raised their quotations for inferior sorts, and this retards business, and many buyers, in tho circumstances, will now await the result of the American crop beforo operating. With reference to tallow, the National Mortgage and Agenoy Company report that at the last threo auctions there was little inquiry, fine mutton being particularly dull, and a" drop of 9d to Is per cwt failed to promote much business. Medium qualities wore in moderate demand, but values showed a reduction of 6d to Is per cwt. The chief inquiry for arrival is for distant shipments. The Now Zealand Loan and Mercantile Agency Company inform me that a dull tone lias characterised the market for flax, buyers restricting their purchases for the most part to actual requirements. New Zealand flax, in sympathy with thac from Manila, has ruled weak, and with some forced sales on the part of second-hand holders and " bears" values hare marked a sharp decline. Today's quotations are as follow (but buyers show little disposition to operate even at the reduced level of values):—Spot has ' to-day been done so low as £29, and parcels duo to arrive this week £23 15s, and June shipment £28 10s per ton c.i.f.