NEW ZEALAND PRODUCE IN LONDON.

New Zealand Herald, Volume XLI, Issue 12654, 7 September 1904, Page 3

NEW ZEALAND PRODUCE IN LONDON.

[FHOM OUR OWN CORRESPONDENT.] London, August 6. WOOL. H Messrs. W. Weddel report that the different wool markets have been steady during tho past fortnight with a fair amount of business, although in Bradford there has not been that activity in rough crossbred wool to which one has grown accustomed of late. Prices have undoubtedly reached a high level, and there is a caution being shown both on tho part of buyers and of sellers, and so far as possible a hand-to-mouth policy is being pursued. Merino wools still occupy a position the strength of which is largely due to short supplies, and for this no material remedy is possible for another five month.3 or so. In the meantime mills must bo kopt running, and to this end users of the raw material have to pay present values and make the best of a restricted selling outlet. NEW ZEALAND MEAT. The New Zealand Loan and Mercantile Agency Company say that the demand for all descriptions of mutton has been very quiet, though with supplies firmly held prices have been maintained. Lamb is in good request, and with small stocks on hand and light supplies afloat values this week have ruled slightly firmer. With a continuance of the meat strike in America the market during the earlier portion of the last three weeks- was extremely excited, and values for all descriptions of beef sharply advanced, up to 53d per lb being obtained for New Zealand hindquarters. This week, however, with fair quantities of River Platechilled being offered at lower prices, buyers have given very little attention to colonial beef, so that prices have once more given way and are more or loss nominal at the close.

Arrivals of lambs from New Zealand have been heavy, amounting to some 132,000 carcases during the past fortnight. Messrs. Weddel say that the position continues to he very satisfactory under tho combined influence's of hot weather and dear beef. Stocks are small, and although with tho close of the London season there is less demand at Smithfield, the rate of sale in the country and on the coast is exceedingly good. Indeed, supplies in store are practically exhausted, and lambs ore going into consumption straight from the steamers now discharging. As has been the case right through the year, small lambs are still the favourite with buyers, although the premium now demanded for light weights has had the desired effect of causing more attention to be paid to the largor grades. MISCELLANEOUS. It is reported by the Now Zealand Loan and Mercantile Agency Company that one or two transactions have taken place in .New Zealand wheat for arrival. 28s per 4801b being paid for a cargo of old crop f.a.q., about one-third baing longberried, per Doris, off tho coast: while a cargo of 6500 quarters, one-third longberried, sailed May 1, changed hands at 30s 3d per 4801b c.i.f. The demand for oats continues and prices have advanced 9d to Is per quarter. At the close there is a little less inquiry, hut no material decline is anticipated in the immediate futur> Sparrowbiils and bartons are quoted at 2ls 6d to 225, with finest at 22s to 2is per 58411,; Danish, at 17s to 17s 6d per 3201b. There is a moderate demand for beans and peas at late rates. The market for cocksfoot continues quiet, and although tho American crop is now reported below the average buyers are not operating with any freedom. Sales have lately been made of 171b and 161b seed of good quality, though not of the brightest colour, at 52s and 50s per cwt respectively, c.i.f. Messrs. Weddel say that for a parcel of shortberry New Zealand wheat to London 30s c.i.f. "was asked, but this sum is above buyers' ideas of value. Ex store considerable quantities of New Zealand wheat are now arriving, and the quality of the new crop has been so far very satisfactory. Sellers are now asking more money, but progress has been slow. New crop, longberry, is quoted at 31s to 325; Hunter and pearl, at 30s to 31s per 4961b. The recent arrivals of New Zealand oats have not yet been offered on the market, but there is a good trade in oat 3 generally satisfactory prices should be realised. There has been a little more inquiry for New Zealand beans, but business is somewhat restricted. Arrivals during the fortnight have Wakanui, with fresh supplies of wheat, oats, beans, peas, and seed; Tongariro, with oats; Star ;of Australia, with wheat, oats, beans, peas,, and seed; Karamea, with wheat, oats, beans, peas, and seed. It is noted bv Messrs. Gordon, Woodroffe and Co. that there has been a temporary rise in Manila flax, but that from New Zealand did not participate beyond prices being firm, but suffered in sympathy, with the relapse. Good fair Wellington is selling at £29 15s for near-at-hand parcels. Buyers show no disposition to operate for distant shipment, and the colony is still much about the level of prices here. The value of good fair Julv, August, and September shipments is £29 to £29 10s; fair, £28 10s. On spot good fair Wellington is quoted at £29 to £29 1&; fair Wellington, at £28 to £28 10s; good fair Auckland, at £29; fair Auckland, at £23; and common at £26. Messrs. Weddel note that during the fortnight the tallow market has been growing firmer, so that now there is a strong inquiry and an advance on recent prices has in : some instances been paid. At the last- auctions 1200 casks were offered, arid 1000 were sold; mutton tallow was unchanged, but beef and mixed descriptions were 3d to 6d per cwt higher. The New Zealand Loan and Mercantile Agency Co. write that at the last two sales of tallow the demand has been principally for the "Titre" sorts, and these have advanced 6d per cwt. line mutton, after being neglected for some weeks, is now in better request, and occasionally 3d per cwt advance has been paid. August is usually a quiet month, but it- is thought probable that there will be a good demand during the autumn. It is stated by the National Mortgage and Agency Co. that 3137 casks of tallow have been offered at. public auction, and that 1864 were sold. There has been a moderate demand, business done being principally in medium and common descriptions, prices for which at last sales ruled 6d to 9d per cwt over late rates. Fine mutton tallow has been sold in small quantity at 6d per cwt advance. At. the close the market is steady. Imports during the last three weeks have included 2510 casks from New Zealand. It is stated by both Messrs. Gordon, Woodroffe and Co. and the National Mortgage and Agency Co. that supplies of New Zealand pelts are not sufficient to meet the requirements of buyers, and prices are very firm, though tanners complain that their raw material is costing them too much. The strongest demand is still for prime heavy sheep and prime freezing lambs. I learn from the lastnamed company that at the sale of rabbit skins, to be held on the 19th inst., New Zealand and Australia will be represented by about 1500 bales. Meantime there is nothing fresh to report in the market. -For frozen rabbits the demand is of course very dull, although a little inquiry is apparent in some uarters. Stocks are in moderate compass. I hear from Messrs. W. Weddel and Co. that New Zealand cheese at present finds buyers at 40s to 41s poi cwt. The imports of cheese last week show an excess on the corresponding week of 1903, which is the first week since that ending May 7 when an excess has taken place. The National Mortgage and Agency Co. say that the cheese market has been very dull, but at the close there is a slight improvement. Prices in Canada have been advanced Is to 2s per cwt, but whether this will be maintained itis hard to say. New Zealand cheese, white and coloured, is selling slowly, and ie quoted at 595, a few choice parcels realising 40s per cwt. Arrivals of New Zealand butter arc now very small, and as a result of the fine quality this description meets a ready sale. Finest is quoted at 92s to Ms per cwt, and milled and dairy nt 70s to 7fls.