NEW ZEALAND PRODUCE IN LONDON

Otago Daily Times, Issue 13886, 25 April 1907, Page 10

NEW ZEALAND PRODUCE IN LONDON

(FP.OM Otn OWN Corksspoxdent.)

LONDON, March 8.

Messrs M. V.'ciJc'e! and Co. write thai during the past fortnight the general aspect of wool inM'k'l3 in Eni-opa has not materially changed, but if any move can be said to have taken place it. is one which favours tho already string position held by owners of tin raw maisrial., On the Continent in particula: merino wools havo been much in demand, and busings has been remarkably active not only in raw wool but in tops, yarns, ar.d goods, and the easy fashion in which tivo present heavy arrivals are taken u j is very noteworthy. Crossbreds ot tho line, and medium qualities have been niso in goed request, and in the stronger qualities also more confidence has been noticeable, and some fair 'ir.es havo been moved in this country lately. In the circumslanccs, therefore, this sales, which open, here on the 12th. inst., sliauld return good results tor all qualities and descriptions of wool. After deducting direct foTwirrdir.g?, arrivals for tile second series of sales amount to 177,000 bales, of which 75,000 bales arc from New Zealand, 80,000 from Australia, and 9500 from South America, and. tho balance from South Africa.

It is noted by tho New Zealand Loan and •Jlcrcantile Agency Company that the wool market hero continues to bo very firm. Trade in tile manufacturing districts is active, both /norino and crossbred going freely into consumption, with prices showing a hardening ler.deney.

Tlie National Mortgage and Agency Company writes; "Prospects continue distinctly jjocd in tho wcol trade. Kaeli succeeding iiiarkat day in Bradford has exposed a alTong j/&sition, especially as regards fine-haired wools. Merir.o tops are now nearly Id per lb dor-rcr fc'ian they were at tlw close of the January auctions, aild at tlis prico Ihore is a strong demand. Emploj-merit is very general among manufacturers, and, as a result, their indisposition" to provide for more than current wants, 'ki 'long noticeable, is gradually being overcome. On the Continent, and especially in Germany, affairs are quite as prosperous, if not mora sOj while news from America :3 also quite satisfactory. Coarse crossbreds have also received good attention, and although there is r.otas much improvement to record as in merinos, a large business lias been done, which has prevented the accumulation of i'tccks. All things considered, therefore., the outlook -at the recoiid series of auctions, opening ki'i on the 12th inst., is quite cheerful." DAIRY nsoniTCK. Messrs Weddel report ill at tho do.tnsnd for Xew Zealand and Australian butter lias shown some improvement this week. Prices bavo exhibited an upward tontlc-noy for " choicest" ucjcriptions, which at this tune of the year always begin to fall off in quantity, and. as European supplies ot "choicest" quality will not for some weeks bo of sufficient bulk to supplant colonial makes, there is naturally a keener demand owing to the riiortor supplies. Shipments this week from Australia, total 33,000 boxes ageinst last week, and the Gothic, which left New Zealand a few days ago, and.is dni> 011 the 12th Awil, is bringing only 21,250 boxes, which shows a falling off from tbo provior.,s slsanSir of lGltoO boxes. Arrivals during the week have bson large, 74,003 braes having been landed from Australia, and 45.098 from New Zealand. Prices show a slight improvement 011 last week, especially for strictly " choicest" brands—namely, 98s to 1003 for Zealand moke?,'and 92s to OGs for "finest." Although the steady hand-to-mouth demand for cheeso continues, there is 3 somewhat weakening terdoncy in prices. Tho imports for February were 139,523cwt, against 76.165cvvt last year. and.for the week ending March 2 the imports from -VCV.' Zealand was 400cwt movo than from Canada. Mow Zealand "chcice&i" cheese is quoted at 60s to C7s, and Canadian ai G7s to'C3s.

The New Zealand Loan and "Mercantile Agency Company observes that, notwithstanding the mow hopeful indication apparent three weste ago, and that holders had generally been firm in their ;<lcas, the butter market has further declined. Thero is less accumulation of colonial lmter than might have b:-en. anticipated, and, with a good consumptive demand at the present level of prices, it hardly seems likely that any further material dwline ■ can take place. New Zealand is quoted at 08s to IOOs, and milled and dairy at 84s to 80s per cwt. The market for Xw Zealand cheese has considerably hardened. prices rolins at least, 2s dearer than was tho case three weeks ago, with a very firm feeling at the close.

During the jiast fortnight 02,000 carcases of New Zealsai mutton lmvo been received. Messrs Wedcbl repot fc that trade generally ha? been slow during the period, and although . Ihc supply of mutton to hand from all sources .is less,than during tho preceding fortnight, yet marketings have been in excess of the demand, and liavo had a. prcjudical effeob upon values, which close decidedly weaker. While this decrease is applicable to prime sheep of best brands, it lias been more especially fait by socondary mutton, much of which has corns to hand'of very poor quality, and against which the largo offerings of good Australian and Rive.r Plato sheep at low prices have been in activo competition. Canterbury sheep, nr.clcv 561b, arc soiling at 4Jd to 41d; sGib to Glib at 4jd to 4}d; the carcases over BUb at Sjd to 'Id. Longburn and Wellington Meat Export sheep Are making from Jid to 4Jd, according to size and quaiity. and Southland descriptions are selling at a shade under these prices. Ordinsrv North Island mutton realises from BJd to 4d per lb, and ewes from SJd to 3Jd. In connection with the lamb trade. Messrs Weddol say ihere is practically nothing fresh to rcpcrt. Arrivals during tie fortnight, have

included 101, ODD carcases from New Zealand, 119,000 carcases from Australia, aud GOOO carea«s from the River Plate. Supplies arriving are much in excess of requirements at this time of tho year, and prices all round are consequently weaker. With tho casing oft in values, the demand for Nov: Zealand lambs hn.s increased slightly, but not to the extent that holders woud like to see. Buyers, however, do not show uracil inclination to operate to any extent in the face of tho large shipment? afloat, and many have parcels arriving which cost thera considerably above present values. What inquiry there is is mainly for best quality lambs, anything at all secondary being very difficult to move! This

is more particularly the case with secondary

Now Zealand lamas, which have io compete with all classes from Australia, the latter being freely offered at anything from SJd to dptl. The good inquiry for heavy-weight lambs that has existed for some time past is now falling off, buyers filling tlwiv requirements wir'n light and medium weights. Tho market for Now Zealand lambs closed weak at tho following quotations: —Printo Canterbury, 5Jd to 5Jd; best quality North Island, 43d to sd; secondaries, ljd to 4Jd.

The A'sw Zealand Loan and Mcrcontito Agency Company remark that the incidence of Lent lias oviueßy interfered with the trade pissing in mutton, as tie demand during the past three weeks has been very slow, and va!liC3 for all descriptions have declined. Prime lightweight Canterbury million makes uu to per lb, but Xorih Island cannot be quoted at more than 3Jd to 4Jd per lb. The demand for Xev.' Zealand lamb has oantinucd A'cry satisfactory, being fa.r from sufficient to cops with the large quantities now arriving, and consequently values have declined Jd per lb. Supplies of beef have been more than sufficient for the slow demand ruling, with tlit result that values have tended in favour of buyers. Mow Zealand best, which is in heavy supply, has experienced a slow trade, anil values. both of foiequaiters and of hindquarters, are Jd per ib lower at th>- respective Quotations of 2id to 2Jd and 33d to 3*d. NEW ZEALAND FLAX. It is recorded by the New Zealand Loan and Mercantile Agency Company that amcdcraie amount of business has been passing in New Zealand flax, but the tone of the market, in sympathy with that, lot Manila, Iras been quiet, and prices are 10.9' to 20s per ton lower, with a duli feeling at the close. Quotations are: Gco:l fair "spot," £38 10s; March-May, £38; fair "spot," £36: FebruaiyMarch, £35 ICs; and fair current Manila. £.W 15= per ton (c.i.f.). Tow is in gocd demand a.t £15 par ton (c.i.f.). The National Mortgage and Agency Company also make reference I) some irregularity in the demand for New Zc-slanji flax in sympathy with the fluctuating character of the Manila market. After being firm for some three weeks ago, an easier tendency became ap;!i»ot, and prices became irregular, and c'.ose fully 20s lower. The sales amount to about 000 tons. Quotations (ex warehouse) for New Zealand descriptions are: Good to very good, bright and wdl-dissesd, £U to £il 10s wr ton; good

fair, £39 10s to £40; fair to fully fair, £35 10i to £30 103; fair, strawy and mixed colour, £34 15s to £35 ss; common lamp, £34 10a to £35; hackled tow, £24 to £25; tow, £14 103 to £15 103." JUBBtTSKIKS. At the public sates, held on the lest day of February and tlio first day of March, 2183 bales were offered, and 1779 balos v.'ero sold wilder the hammer. The Xationnl Mortgage and' Agency Co.-npaity writes that the demand was good, and- va-lues of fair season skins wire firm. Outgoing season were slightly easier, while Sightly-furred and interior sort<? irequontly /avouied sellers. For bost Now Zealand wintor sfcins, suitable for dressers, there was a good inquiry, and hig-host raies ot last sales were obtained. Fair season's were steady, while late outgoing ruTc3 Jd to Id par' lb cheaper. Light ami suckers showed no change.' Black and fawn sold at about late rates. TALtiOW. Tho last fortnight has witnessed a. steady demand for tallow, and Messrs Wcddal report that values have advanced 3d to 6;1 per cwt. At public auctions GAIC casks wore offered, and 1489 so'.u. The medium and lower qualities iCnd also howl sorts havo been in best request, t-be finer grades of mutton having' been ncglccteci until near tic close, when all dv-scTiption-s are in good demand. Prices are very firm, and indications seem to point to at least a continuance oi the present high rates, amd probably to some flth'auco in tbi* n?rir future. On c.i.f. terms there is a good demand, hut offers stfe not numerous. S|»t quotations for New Zealand sorts mo: Good to finest nnitton. 37s !)d to 30s Gd; (hill to fair, 36s to 375; inferior, 3,4s 3d to 35s 3d lwr »t. Be.e!-. Good to finest, 35s Gd to '37s 3d; dull to fair, 34s 9d to 35s 3d; inferior, 33s to 3ts 3d per cwt.

Since tho previous report was issued by the New Zen,land Loan and Mercantile Agency Company, three public Biles of tallow have be-en held, and at tho two earlier ones mutton tallow was rather neglected, tho lower and. medium grades beting more, in demand.- At the sales this weak, liovovcir, all descriptions met a. good inquiry, and priccs advanced 3d to Gd per cwt. Stocks are within niodmto compass, and, with the Home-melt not in large supply and firmly held, it is bardly anticipated that prioss will give way to any appreciable extant in the new: future. There lias been ail active demand for Australasian for arrival, tho loiver qualities Belling to bosk advantage. "No colour'' mixed has been sold at 349 to .lis "d: " nod colour," mired, at 35s to 35s 6d; good beef n.t 3G=; " fair 48 " mutton, near at .hand, at 37s per cwt (c.i.f.).

Thoro.a-re still 110 supplies of New Zealand wheat on this market, and prices are merely nominal, but for A'ow Zealand oats it is reported by Mo&srs Weddel tbat. the market, has continued firm at. Hilly lito latca though tho supply is small. Quotations tro: Gooil Canadian?, snarrowbills ar.d Gortons, 22s Gd to 253 per 3S4lb; duns, 19s to 21s for 3361b; and Danish, 17a to 183 Gd per .1301b. The m&rkot for New Zoaland beans continues very quiet. The "market for poaa keeps firm at late rates, finest maples being quitted, a store, at 86s to 465, with inferior soii.s at abou} Ms lo 3Bs per 5041b.

It is remarked by tho New Zealand Loan and Mercantile Agency Company that tho approach cf the sowing season hes stimulated tho inquiry for cocksfoot. and a lair business has boon done at prices which mark an advance of about 2s par cwt. Quotations are: 1811b medium seed,'sls; nib medium seed, ■Ms Cd to 50s; and 16' ib medium seed, 46s 6:1 to 49s per cwt (ex warehouse).

The National Mortgage and Agency Company of \cw Zealand slates that cocksfoot, is firm, with moro inquiry, at 50s for 17lb New Zealand seed (ex store).- Oats havo been firm, and advanced considerably for- the commontr descriptions, hut at the close profittaking has caused a reaction. New' Zealand beans are quite ncg'k-cte-d, PELTS. X loam from the National Mortgage and Agcncy Company that arrivals oi peT.ts continue to couie forward from New Zealand m wry small qxiautitiei, and thcro are practically no stocks on hand. Only a few parcels of the neiv season's pelts hare so fa<r been landed, and these are sa-ioslile at fully Into rates. Thora is a good demand from Home and American tanners, and, generally, the position of the market is vcty'fmn. Tho demand from America for lamb pelts i 3 especially strong, and it appears liWj that ,thj coining season's shipments of lamb pe'.ta from New .Zealand will sell at very full prices. Quotations include: Now Zoaland crcssbrods, heavy, firsts, 34s to 46s per dozen, seconds, 25.5 to 36j ; medium substance, firsts, 30s to •10s, seconds, 32s to 38s; merino, firsts, 17s to- 25s par .doaen, seconds, 12s to 16s; 2C<ew ZwJaml tombs, firsts, 21s to 28s, seconds, 14s to 20s per dozen. MISCELLANEOUS. According to the report of the National Mortgago and Ageiicy Company 764 hidss were offered' at tho last auctions, but irono wore sold. Tho offering consisted of kips and yearlings, which were not in request at, fair values. Five hundred and sixty-five calf hides were also offered, and none were sold. For Eiliwßfflit Blightly easier prioe3 are quoted, especially for light hick*. At the last sale of leather 1034 'sides were available, and 124 Bides wciro cleared. There was a vory limited demand, and prices declined about Jd per lb For basils, too, there was only a moderate demand at a decline of id per lb. Three thousand and twenty-four skins were offered and 2391 otto sold. The demand for frozen rabbits shows signs oi failing off, ' and aUhc-uiih stocks are in small compass it now appears l that- supplios will bo fully equft*. to requirements, as new season rabbits from Australia- are beginning to come to 1 hand. Arrivals'during tho last three woeks havo been about 15.800 cratas from Australia, and about 10,C50 crates from New Zealand. Prices show no change from those previously rc-

ported,