NEW ZEALAND PRODUCE IN LONDON.

Otago Daily Times, Issue 13209, 16 February 1905, Page 11

NEW ZEALAND PRODUCE IN LONDON.

(Fjiom Odr Own Cobf.kspondkxt.) LONDON, January G. WOOL. Although during the past fortnight lrasiuess has been much interrupted by the Christmas and New Year holidays, Messrs Balme tell mo that the tono of the wool market has continued satisfactory, values for botli merinos and crossbreds' having an upward tendency. Stocks everywhere are said to be exceptionally small, and, with a moderate quantity—estimated at about 1-10,000 bales—available (or the next auctions, which open on the 17th iiist., there is every prospect of the relatively high rotes current during the November series being fully maintained. To date Die gross arrivals for the sates total 163,800 bates, including 5530 from New Zealand, of which latter description 300 hales have been forwarded direct to the Continent, Yorkshire, eto. ' Messrs Weddel write:—"The real strength of the position lies in the. fact that consumers are not buying beyond their actual requirements. A good index of the current values in this country is afforded by the present quotation of bright home-grown hogget and wether wools of over 12d per lb, as against the top price of 5d per lb two years ago. The outlook therefore for tlio next series of eatcs is good." D.uisv produce. I hear from Messrs \V. Weddel and Co. that the demand for New Zealand and Australian butter continues good, and prices remain firm at last week's quotations. The Orizaba and China, from Australia, and this Tongariro, from New Zealand, arc discharging their butter in good condition. Although supplies lately have bteii very large, they are going into consumption very satisfactorily. "Choicest" brands oi Australian butter are making 90s to 98s per cwt„ v:ilh an occasional 100s. New Zealand brands are making 98s to 100s per cwt. "Finest'' descriptions are selling close np to "choicest/' Secondary quality butter is meeting a most unusually good demand, and prices are many shillings above its intrinsic value; it is many year's sincc the prices of butter from the highest to the lowest were within such a narrow range. Tliero has been a good consumptive demand this week for New Zealand and Canadian cheese at 52s to B3s for the former, with exceptionally fine lots at 555, and at a quotation of 54s for Canadian, both white and coloured. G3AIK. Supplies o! wheat from New Zealand' are still very limited, but Messrs Weddel say that there is a fair inquiry, prices for tho small portion arriving being well maintained. Longberry is quoted at 32a Cd to 33s Gd; shortberrv at 31s Gd to 32s Od per 4961b5. There arc no. Nev; Zealand wheat Cargoes at present offering. Trade in New Zealand oats has continued quiet, but values arc fairly steady, holders asking late rates. Stocks; of New Zealand beans are practically exhausted, but, for the small quantity in hand, holders arc asking late rates. NEW ZEALAND MEAT. According to Messrs W. Weddel and Co. 61,000 carcases of New Zealand mutton have been received during the past fortnight. There has as yet been no improvement in the demand, and since Christmas the demand has remained unusually slow. It is therefore very fortunate that supplies are moderate at the present time; but, notwithstanding this, values are to-day slightly below recent levels. Canterbury sheep of best weights are quoted at 4?d to 4Jd per lb, sales of the heavier carcases being difficult at per lb. Other New Zealand sheep are in short supply, and prices ;or these are comparatively more steady than in the ease of Canterbury descriptions. North Island brands realise 4Jd up to 4Jd for small sheep, and <ljd per lb for heavy carcases; ewes arc still selling at 3Jd to Id per lb. At clie beginning of this week the principal importers of River Plate mutton, owing to the slowness of the consumptive demand, reduced their price by jd per lb. The wide margin thus caused between prices of River plate sheep and secondary New Zealand sheep has brought about some increase in sales of the former, although oven now the inquiry is by no means brisk. The quotation for New Zealand lambs is nominal at 6d per lb. During tho past fortnight arrivals have consisted of 39*1 carcases from the colony. There is still a great deal of irregularity in the quality of Australian lambs, so I hear from Messrs ■Weddel, and there is in consequence a wide range in quotations. The "Champion"brand comprises carcases of the best quality, and makes from 6d to GJd per lb; other good" Australian lamb 3 are quoted at 6£d to 5Jd; but plain carouses are sold at as low as 6d to 5Jd per lb. New Zealand beef is soiling in small.quantities at 3d to 3Jd per lb for forequarters and 3Jd to 3Jd per lb for hindquarters. An improved consumptive demand for New Zealand mutton may be looked for, Messrs V>\ Weddel and Co. think, in 1905, and as homo supplies are not likely to be any heavier 'than they were last year, while the United States and Canada may show some reduction in their exports, this country will have to depend more than ever upon Australia, New Zealand, and tho River Plate for its supplies of mutton, lamb, and beef. "The Eiver Plate," Messrs Weddel remark, "will doubtless fully meet any likely requirements eo far as beef is concerned. It is possible, though by no means certain (owing to the recent rise in the , value of wool), that Australian mutton exports may supply any deficiencies from New Zealand and tho River Plate; but, on tho other hand, the receipts of lamb from all sources can hardly be expected to meet the normal 10 per cent, annual increase in tho consumption. On file whole, therefore, prices all round in 1905 are more than likely to rule somewhat higher than in the year just finished." The C. C. and D. Company remark that the irst arrivals for the year with New Zealand Mutton are the Tongariro, which brought 15,90S carcases, and the Mimiro, with 46,541 carcases. Although stocks are still in very limited compass, the trade done has not come lip to expectations, and prices are now somewhat weaker. A few light Canterbury sheep make up to 5d per lb, but medium-weight carcases arc cheaper, and prices range down to 4Jd per lb. The few Duncdin and Southland shcop which are marketed make 4gd to 4jd per lb, according to weight and quality. Prime North Itland sheep are offered in some quarters at 4Jd, but other holders are demanding IJd for light sheep, and make 4JiI to 4Jd per lb for medium weights. Ewes are in shorter supply at 3Jd to 4d per lb. Stocks of New Zealand lambs are now practically exhausted, aiid quotations aro nominal; tho very few which change hands .make from Od to Gsd per ib. Beef is quite neglccftd. New Zealand hindquarters stand nominally at 3ijd and lorequarters 3d to 3Jd per lb, but the business done is trifling. The Mimiro brought quarters from New Zealand.