NEW ZEALAND PRODUCE IN LONDON.

Otago Daily Times, Issue 13632, 29 June 1906, Page 6

NEW ZEALAND PRODUCE IN LONDON.

Teoii Our. Own Corres.'okdekt,) LOXDOX, May 19. WOOL. Throughout tho current wcok the wool sales have progressed with great spirit, to I am informed by Messrs Charles Balms and Co., who go on to say that the demand (or all descriptions if wool is very animated from both English and Continental buyers. Purchases on American account have not been very important, although they have recently assumed larger dimensions and have included somo fair-sized parcels of tho best merinos and finer crossbreds in (ho grease. Merino's now realise 5d more tlran at the closo of the March auctions, the prices paid for combing wools, both scoured and in the grease, showing most improvement. With the exception of a slight appreciation on the finest grades, which frequently make 5 per cont. moro than ill March, tho position of greasy crossbreds has not sensibly varied sinco tho beginning oi the series. Scoureds and Biipe3 meet with a. ready sale at 5 per cent, advance for fine and 7J per cent, for coarso qualities. It is remarked by the Kational Mortgage and Agency Company that th» saleroom was in a- very crowded condition on the opening of the current wool 6»les; thero was great animation in tho competition for both merino and crossbred wools. Compared with prices ruling in March, the former showed a rise of somo 5 per cent., but tho improvement was moio pronounced on scoureds thsn on grcasies. As far as the sales have progressed this improvement has been well maintained. With regard to crossbred wools, the extreme prices paid last timo for fine and medium wools have not always been available, owing to American demand being decidedly slacker; otherwise prices have ruled about on a par with March figures. Coarse wools, on the other hand, have realised about 7J per cent, more, with a very keen iuquriy for really coarse-haired wools, the supply of which has toon so far somewhat restricted. Crossbred lambs have met a very strong market, and whilo superior lots are- not quotsb'.y dearer, medium and inferior lots have risen about 5 per cent. Slipes have been sparingly offered, tho fiiio sorts- are about 5 per cent, dearer than in March, and the coarse grades TJ per cent, dearer.

For the fourth series of wool sales, to open on July 10, arrivals now total 28,311 bales, SGJ2 bales being from New Zealand'; the list of available qualities will close on the 2nd July. SCTf 7.EALAXD JIK.W. ; V.'. Weddel report that arrivals of -tew Zealand mutton have been very moderate during (ho last fortnight, totalling only 4C,00i) carcases. Tho demand is very slow, partly owing to tho quality of recent marketings not being quite, up to the usual standard, as a result of which many buyers prefer to con,tinuo tho use of River Plate mutton rather than to revert to the use of New Zealand sheep. Some, importers have rather pressed siiles, and the result has been a, furtkor reduction in values. Canterbury sheep under 611b cauuot now be quoted at more than ?,]& to 3id per lb, aud carcases over Ctlb are offered at 3Jd to 3|d per lb. Best North Wand sheep realise SJd to 3Jd per lb, but plain and inferior carcases are quoted down to 3Jd; ewes are offered at 3d to 3Jd per lb. Importations of lambs have bejn light during the past two weeks; arrivals from New Zealand have totalled 49,000 carcases. Messrs Weddcl say that stocks on hand are, however, more than sufficient for present requirements, and tho small arrivals have had no effect on the market. Values c[ New ZeaJnnd lambi have again receded, the reduction being occasioned by the hear)- numbers in London being freely offered for sale by the numerous consignees. There is a fairly satisfactory demand, although the kncucial effect on the rale of sale which might naturally be expected from the low prices current is, to a large aiteut, counteracted by the favourable weather which prevails. The quality of all classes of New Zealand lamb leaves much to bo desired, and' some of those from the North Island are particularly plain. Canterbury lambs under 421b are now offered at 4jjd to 4Jd per lb; carcases over 421b being quoted Rt 4Jd to 4 a-llid. Eest North Island lambs realise 4Jd to 4jd per lb; but for secondarv carcases no more than. 3j4 to 4Jd cwi- bo obtained. Quotations for New Zealand beef arc easier; there is little change in the general position of the market.

DAISY PRODUCE. ■ According to (ho Now Zealand Loan and Mercantile Agency Company slocks of New Zealand and Australasian 1 butter aro now in small compass, and during the last three weeks only a quiet trade has passed. Underpriced Queensland butter lias risen several shillings in value, while all best grades have maintained their figure. The outlook for lha next few weeks is tor a steady market. Ktw Zealand butter is quoted at lMs to 101s, Australian 953 to 965, and Queensland 88s, 90s, up to 925.

: i ojunr. ;! JCew Zeahr.d wheat is reported by Messrs ; Weddel to be in good request, owing to the scarcity of Br.'g'.ish wheat, which is about 3d '. per quii-lor dearer. Shortbwry is quoted at 1 3ls to gls'.ftl, anil Longberry 8 [ 31a Cd ta 32a.

per -4961b; an arrived parcel sold at 80s per 4fio'l>, c.i.f. Supplies of New Zealand 1 oats ate very limited, and quotations are firm— vi?..:—Good Canadians, spanowbills, and gartons 21s Gd to 2os 6d per 38-111); duns 10s 6d to 20.1 Gil per 32Gib; and Danish 17s to ITs Cd psr 3JOli). Tho market ior New Zealand beans is quiet.

The- N.2.L. and 1 M.A. Company refers to the fair amount of business which has been, piss, ing in tho new crop cocksfoot, and as the standard grade samples have now arrived, this firm anticipates a good inquiry within the. next few weeks. Only a small proportion of the seed saved is "bright," and for this description high prices arc asked; but'it is p. question whether buyers will pay these. Quotations are: lS'b medium seed, 49s t 0 sds per cpt, c.i.f.; 175b medium seed, Ms per cvrt, c.i.f.; and lClb medium teed, 4? 3 per cwt, c.i.f.

FROZEN' BAEBITS. The New Zealand Mortgage and Agency Company reports that unfortunately some of the recent shipments of Australian rabbits have come' to hand in bad condition The demand has continued io fall off, and is now at a very low ebb, the rabbits being only taken at cheap prices for a low class of trade, Some rabbits ex damaged parcels have been offering at under current rates, and this baa helped further to -weaken tho market. For the* four months, Jaliuary-Apri' 23,717 crates of rabbits alive come to hand from New ZeaIsuid, an increase of 13,372 crates over the 6ime period'hut year. Shipments from Australia have been 135,430 crates, oi 72,873 more than for the same months of last year. ' TALLOW. The Now Zealand Loan ond MercantileAgency Company write that the inquiry at the sale of tallow on the 16th inst., when n better feeling was prevalent, and when values closed at about a. par with late rates, was mostly for the medium and lower descriptions, good mrrftra selling less freely, while finest mutton is neglected, and prices for this description will probably have io come down for business to tako place in any volume, A very fair business has been transacted in. New Zealand and Australian tallow for arrival, and 59s per cwt has ken paid for edible beef,' 27s 3d per cwt for fait beef, and 27s Cd per cwt, c.i.f, for good, mixed. FEW ZEALAND H.AX. The New Zealand Loan and Mercantile Agency Company informs me that the market for New Zealand flax-has been quiet, Mid only a limited business has been done. Further heavy arrivals are expected shortly, and this with the sharp decline in the value of sisal, serves to depress the market. There is a dull feeling at the, olose, but prices remain about steady. ' Good fair is quoted at £31 5s to £31 10s for spot; Januaiy-MaTch, £31 5s to £31 10s; April-June, £31 per ton, c.i.f. Fair spot, £29 to £29 ss; April-June, m. Thero is a fair inquiry for tow at £10 15s to £11 per ton, c.i.f.

According to the Rational Mortgage and Agency Company the market for Now Zealand flax has been dull during tho post thiea w;eks, and sales have Wh difficult to effect; an important decline in the value of Mexican sisal, which has bsen'sold to atrivo at £31 10s, c.i.f., a decline of £6 per ton from recent highest ipoiat, has rendered 'buyers very cautious, unci prices in consequence slow 6ome fluctuations, resulting in a further general decline, of 5s per ton. 'f ho sales amount to about 350 tons. Spot and near, good fair, is quoted at £31 5s to £31 10s; fair, £29 6s t:> £23 10s. Prices' for New Zealand flas, free, delivered ex warehouse, are:—Good to very good, bright, and well dressed, £33 to £34; good fair, £31 5s to £31 16s; fair to fully 'fair, £29 5s to £30; fair, strawy, and mixed colour, £39 to £30; common, £28 to £27; hackled tow, £21 to £25; tow. £11 55s to £12 10s. TELTS. It is stated by tho National Mortgage and Agency Company that supplies of New Zealand pelts are now coming forward mora licely. 'Iho high prices are- causing some splitters and tanners to wait before covering their requirements, and it remains to bo Eton whether this will have any effect upon tho market, or if, later on, they will have to come in and pay tho prices now ruling. It is not unusual for the market to bo rather quiet at this time of tho year, the demand for tho autumn trade generally starting a little later on. . English domestic pelts aro still firm and dear, and in tho case of lamb pelir are relatively higher than New Zealand. New Zealand crossbreds, heavy, firsts, are quitted at 31s to -16s per doz, do do seconds, 26b to 345; medium substance, firsts 30s- to 425, do do seconds 22s to 2Ss; merinos, firsts ISs to 245, seconds 12s to 17s; New Zealand lambs, firsts21s to 26s per doz, Eeconds Us to 19s.

MISCELLANEOUS. A sale of rabbilskins is to take place to-day, when about 2400 bales will be offered. Prices for Basils have ruled steady. • The market for bido3 has been quiet during the past three weeks, with only moderate offerings. Prices, however, have been firm, especially for intermediate weights; at tbo last auctions 917 hidcßflrcie offered, but none were sold. These comprised yearlings, for which easy prices were offered, biddings representing a, decline ot about Jd per lb. There has been a, fair demand for leather, and prices generally shor an advance of jd to id per lb.