N.Z. MEAT AND BUTTER MARKET.

New Zealand Mail, Issue 1201, 8 March 1895, Page 6

N.Z. MEAT AND BUTTER MARKET.

The New Zealand Loan and Mercantile Agency Company, in their circular for the Brindisi mail of the 25th January, state: — New Zealand Mutton. —Arrivals have been rather heavy, and stocks in London are still very large. A fair trade was done during the first week of the year, but before the cold weather broke up the demand had again fallen off, the retail trade being very slow, butchers, encouraged by the low temperature, having purchased beyond their requirements. With a return to mild, damp weather the market weakened, and prices for best grades close at about the same level as that ruling a month ago, or fully &d per lb lower than the highest point reached. The sale of soveral shipments which have been in store for some months, which have turnod out off colour, has had a depressing effect upon values. Inferior descriptions, assisted by the improved value of Australian, have advanced about -£d per lb. New Zealand Lamb. —There is very little enquiry, but choice carcases are worth aibout s|d per lb. ... Butter. —Notwithstanding the heavy increase in the importations of Australasian during the past year as compared with those of the preceding 12 months, amounting to 253,066 packages, or about 82 per cent., there has been for the most part a fair consumptive demand. The range of prices during the spring was about equivalent to that of the corresponding period in 1893; but, owing to a variety of causes, amongst which may be mentioned : (1) The mild, wet season, which led to supplies of Home and Continental being unusually abundant until the close of the year; (2) the cautious attitude adopted by buyers on account of the large quantities known to have been held over in cold store, and (3) the heavy receipts and large shipments on passage from Australia, values during the autumn fell considerably below those of the preceding year. During the spring and early summer a considerable proportion of the shipments which arrived when prices were at a low level were placed in cold store to be ‘held for the autumn and winter trade, the quantity so dealt with being estimated at some 80,000 boxes. When these were brought on the market considerable difficulty was experienced in selling owing to the prejudice entertained against them by buyers. By the end of the year, however, the bulk had been cleared, the highest price realised for fine Australian being 100 s per cwt., and for fine New Zealand 96s per cwt., while large quantities were sold at from 66s to 90s per cwt. according to quality and condition. A considerable quantity of the butter thus stored is reported to have been in bad condition when marketed. Owing to the dissatisfaction expressed by the colonial papers with the prices fixed by the committee, referred to in our Circular No. 419, the eommitj

tee early in the current season deoided to discontinue publishing their prices. We summarise the course of the market as follows: With wintry weather early in January there was an upward movement, and fine Australian then realised from 104 s to 112 s per cwt., further advancing to 104 s to 114 s per cwt. in February. This level was maintained until the middle of .Vlarch, when, I with heavy receipts, the market became slow, and a downward movement set in, line Australian falling to 96s to 108 s per cwt. at the close of that month, to 94s to 100 s per cwt. in April, and to 80s to 84s per cwt. in June, when the trade practically ceased, the bulk of the subsequent receipts being placed in cold store. The first of the new season’s shipments was received about the end of September,and, meeting a good demand,finest qualities realised 112 s per cwt,-the price then quoted for fine Danish. The market subsequently became dull, owing to the large quantities of Home and Continental marketed, and prices receded, fine Australian being quoted at 100 s at 106 s per cwt in the beginning of November. During the course of that month, the price of Danish being unduly advanced and an alteration being made in the method of stating the official quotations in Copenhagen, the attention of buyers was directed to Australasian, and the finest advanced to 112 s to 118 s per cwt by the 30th November. The continuance of mild weather and heavy receipts, however, induced a duller tone, and a retrograde movement set in, closing quotations for J finest ruling from 90s to 100 s per cwt, while : a large stock was held here, and shipments j afloat were unprecedentedly heavy. Values j for prime qualities ranged during the year j from 84s to 118 s per cwt., while importations i aggregated 562,972 packages, as against | 309,306 packages in 1893.