NEW ZEALAND PRODUCE IN LONDON.

Otago Daily Times, Issue 11542, 30 September 1899, Page 2

NEW ZEALAND PRODUCE IN LONDON.

(From Ouh Own Cohhespoxdent.) . LONDON, August 26. WOOL.

Throughout the whole of the current month, notwithstanding that the markets for wool both here and in the manufacturing districts have worn more or less a holiday aspect, values for all fine wools, both merinos and crossbreds, have remained remarkably firm, with even an upward tendency. For rough-haired crossbred wool, too; there has been a slightly better demand. ' The National Mortgage and Agency Company, writing to me to-day, say that this has reflected itself. here by a private inquiry. Owing, however, to the determined attitude of holders, only' a very small business, I learn, has been done. News from the United States . is .reported to be more hopeful than for a con-, si'derablo time past. Manufacturers there are fully employed, and the large stocks o£ imported, wool Which .have. been, hanging on the market for so long, having at last been got rid pf, the position' is'"thereby much' improved,' and it* is remarked that kuther signs are *nofc ■ wanting that American buyers -will, be present at the next series of sal ea. ilhese, as I. haveViieady mentioned several times,, are to. open on the 19th-, September. ".The. National Mortgage and iigency Uompany.supply me with the; latest figures.oi available, quantities for those series', There is. how a total of 207,763 bales, New Zealand being represented' by 100,52;! • 'bates.'** :- ;■**.... .** ""'''-"'-.'■;>' The next sales of sheepskins, are advertised* to take place on the* 14th-and 15th.September.. I'here have been.no. transactions of importance since the close of .'the last auctions. ~ , ■:,; .* NEW'ZEALAND- MEAT.' ' ' ;."'": -' Messrs' Weddelfs market report this -week contains the inio.-matioii that'the arrivals of carcases of New Zeaian'd mutton have been, rather heavy,1 totalling some 10a,0U0. The'demand is said to have oeen slack, and deliveries, have not kept'pace, with arrivals.' Tne result is • that stocks now on hand are undesirably heavy, and the market remains weak tor ail descriptions*. Light Canterbury sheep are making 3-J.d -to' : 3jjtt.'per ib, but sheep over 641b. are not worth nioie " than about 3|d per ib, '■ wiiile la_ge,. ' iat ' carcases are worth nominally* 'duly, about *3d per lb.- -For. . ■Southland ; and. Dunedin sheep Messrs Weddel say that ,the current value is about 3d, to S£d down ,to 2j*_d for heavy, carcases.. ±Sest; brands of! North Island sheep are ''selling for 2Jd and 2|d''. per 'It! for the bulk 'of . the••-■ .offerings. ■' Inferior" - carcases; '■'■ and old ..ewes -'are of comparatively little value,* and are,' only . worth from; .*. 2Jd to aAct,'p,er lb. The.demand all--iourid,is; slow,, and the,.market, closes decidedly, slack. ..Such are the'.coiiciudiiig .words of. Messrs Weddel. regarding the market foi* New. Zealand mutton. •■■The ;New; Zealand mutfon* trade. shows- ho signs-;'of .-improvement;* in--. fact,'-prideshavq. -a; • weakening tendency -for. heavy, arrivals,, comfajj&j. ■ jit ',a time wheii,, the demand. is., rapidly a^- : , clming,'- have had. a depressing effect ion.the. riiarket. I'here'.are a-great number of coarse,:, fat sheep'on hand, and they are.most difficult, to dispose of." * Such are Messrs fitter's Com-, ments.: ■•:*-' ■'•''*.'.-•'■''■ *...,'••'..'■".'•■ * TT'XL ■'; "Stocks *on hand are -very heavy.: Canterbury Jsheep.havei,been ;more .plentiful, ancl.' prices, have* .declined;'-:. That is. how.-the1 .JNsf* . t-ionaL Mortgage and Agency Company,of New Zealand ' express . themselves . this ■week when' dealing, with' New Zealand mutton. Light;., weights under '-361b realise iJ_d .to 3ad. .Sheep' over 721b are; not wanted, and are worth little' more thsiii - similar weights of other; brands." Tiiere are now .-a few Uunedin and Southland sheep . on the market, and these sell slowly at* ;2jd.:.to 3d per lb for .best weight... North Island sneep,- this.same companfy...notes, continue to. bo pressed for sale \] by some consignees almost regardless. o£ 'price'! and . useful sneep or medium weights of'certain:brands have been sell-; ing at 2_sct per ib. '""• Longburn " sheep are stillworth 3d for weights-frbm'4Blb to 64ib, ; and 2^d for those which, are heavier... . Although.the season for New. Zealand lamb is so late, Messrs Weddel state that, arrivals .continue to'pour in, and 6S,0(!0: car.c_.scs. have arrived during' the past * fortnight.' • The iii-.. • quiry has shown, considerable slackening; and, ■.•■while'-light-weight Canterbury iambs oi-prime: -quality Have nearly maintained, their position, jeavy weights are distinctly lower.-, .best Canterbury ..lambs . are being,.: sold at ...ild to sd!. per lb,, but, .. heavy , weights ,are ' oiily . selliiig ' .'.at;. *'4d ' ..to ,'• -lid per lb in, retail" quantities: . For Southland and uunedin. lambs, supplies ' of", which! Messrs "Weddel say, are -rather heavy and widely" distributed .over the market,. values have, given ■way'to the 'extent--of fully-id per ,Ib, and these, cahnot'iiow be. quoted at more, than 4gd-4Jd ■ :peV-'ib for best weights, down to 3jcl and 4d ■per lb for heavy weights; .Other kinds of * New Zealand lanibs are in small supply,; and'quotations are almost nominal. •" 'i'ne market closes - .weiik with a 'downward-tendency.";;' * ,'-"••'■ < 'Messrs Fitter: write that the continued heavy arrivals of New Zealand.lanib .have .told .upon., ' 'the 'trade! The Rational.. Mortgage an-i Agency 1 Company also -Way.that .-the., demand shows sighs of'faliing off.,'. ~'•'.*-- ■ .',*'. ".--:'• *"■"-miscellaneous. ' y English-wheat.now'"comes .into direct coin-, petition* with that from .'New Zealand, and, as the latter, is relatively dearer, Messrs' Wectde'l ;say that it is negiected.',, Quotation's are: Tus-, 'can, 275;6d 3bs6d; hunters' and pearl, 25s' '6d;tp.*27& per 4961b.;-';'■"".'..-'.•'."•'.■'.'■!'■" '. :"'■ • -In* consequence, of the continued dry weather,': New' Zealand oats are rather/more m,request,' .but Messrs AVeddel-report no change iri yatiies; .American feeding oats are freely orfered.at 15a. , lid'; (ex store;, per 3201b), aiici this, ; I. am-." in-. formed,*checks.the.sale of New Zealand aescrip:' tions. "'.'.. "..*.'- ~.:'-" ..

The recent arrivals of New Zealand beanshave not yet been marketed, .so at present <juotatibns . are merely 'nominal. Cocksfoot continues firm, but there -is no business passing., and prices, are nominal. -..■-. '.-■' " '■" Both Messrs Weddel and the National Mortgage Company, announce . this Mfeek "that , the' market for. jN.e'w'Zealand flax continues very strong, and a further advance* of fa per.ton ia noted. The ..report that the' ports in .the i-'hilippines. are being closed has been accepted here as correct, aricl-in conseouence the market has been active, and'at times excited, during the. past anon th. Price's have advanced day by day, closing at a further advance for Manila, flax of ill'per ton., .."Fair current Manila isnow quoted '"by Messrs Weddel at £43 per. ton.* A fairly extensive* business is being done in for-: ward shipments at steadily advancing rates.. Good fair Wellington * (January-March) is now being, held for £2b per. ton (c.i.f.). Spot quotations are; Fine Auckland, _-*27 to -2*28; fair*

Wellington! ±'26; good Lyttelton, JE__i7; common, £25; tow, £3 per ton. The New Zealand Mortgage and Agency' Company say that in. New Zealand flax a large business has bean transacted, the sales and. resales probably amounting to 5000 tons, the closing prices being all .on c.f. and. i. terms'., Sisal is quoted at £37 per ton' (cf. and.i.).. , ■For the past fortnight a good market has been experienced for tallow,- and Messrs Weddel report; .that prices have improved 3d to 6d per cw.t for all qualities* except finest mutton, which is unchanged.. 'The-demand at the.public sales oh the' 23rd ■ inst.'; however, was quieter, and only 634. casks found buyers'out pi' 1912 catalogued. The' position .of tallow,'- however, is regarded as favourable, and it.is thought that an improved trade may: be looked forward to before long. A good business has been transacted for arrival,'and prices on c.i.f. "terms include mutton tallow at 25s Gd to 26s 3d; beef, 24s to 24s 9d; and mixed, 235, 9d to 24s Sd. At'tk'e close. the market is steady. The National Mortgage and Agency Company, say that shipments from New Zealand and Australia.during July total 2446 tons, as compared with 1559 tons for the samo month of last year. Imports for the . past four- -; weeks amounted to 4571, casks from Australia, and 358 casks from New Zealand..' The following are this company's quotations r —Mutton, good to fine, 56s 9d 'to 27s 3d per cwt.; fair tp good, 26s to 275; common, 22s'to-24s Gd; low-, and mixed, 21s to 24s 6d; beef, good to-fine edible, 25s 6d to 265; fair to goocl, .25s to 25s 9d; common, 23s to 24s

6d per cwt, ~.-*.. ..-..,. At the last two auctions, of leather, 3725 sides were offered, and 2475 were sold. The National Mortgage and Agency Company report that these were chiefly. New Zealand tannages,'and that there was. a .very fair demand at 'firm prices. The demand is' active, and stocks are now in moderate compass. The next auctions

arc to be held on the Ist *pi*ox.

The demand for salted New Zealand pelts is still in" excess of supply, and prices are hilly maintained. Public sales' of rabbitskins are'just about to take place, and I learn from the National Mortgage and Agency Company that 1300 bales of New Zealand and Australian skins are ..available. Preserved beef and mutton continue in short supply, and values are' well maintained. Preserved rabbits-meet with a'slow and dragging sale. *