NEW ZEALAND PRODUCE IN LONDON.

Otago Daily Times, Issue 13940, 27 June 1907, Page 10

NEW ZEALAND PRODUCE IN LONDON.

(From Ooe Own- Correspondent.) LONDON, May 10. WOOL. Messrs Charles Balmo'and Co. write to-day tll»t since tho date of their previous report competition in tho saleroom has distinctly broadened, tho improvement being particularly noticeable in thq tona of tho market for crossbred wools, which during the earlier sittings of tho series -was decidedly unsatisfactory. During the past few days some very superior greasy merinos have been offered, and have realised exceptionally high prices' as much as Is GJd per Jb having been paid for Tasmanian, and Is 5d for a lot of New South Wales clothing wool. Quotations for merinos have not materially varied during tho past week; well-conditioned wools iu tho grease, as welt as. the better classes of scoureds, sell readily at last series' prices, the rates obtained for bulky New Zealand scoureds being exceptionally high. On the other hand, values for inferior and faulty Australian ecoureds are irregular and iu buyers' favour to tho extend of Id per lb; the bidding for heavy-conditioned Now Zealand merino greasies is also somewhat irregular at a declino of Jd per' lb on March quotations. For crossbred greasies prices have sharply reacted from the depression noticeable at the'outset of tho series. The better grades, whether of fine, medium, or coarse quality, now realise last sales' final quotations; iudeed, in some cases, more particularly among the medium growths (M'b to -16's), that level is slightly exceeded. Tho position of poor-conditioned lots has also improved, and the decline on these descriptions does not now exceed Jd to Id per lb. Among scourcds and slipes the finest sorts are practically unchanged from March prices; medium growths, however, of combing length are quite H per cont., and long-stapled, coarse descriptions 5 per cent, weakor, but clothing parcels, out of these qualities sell closely up to March rates, Referring to the opening of the current series, the New Zealand Loan and Mercantile Agency Company writes:—"Values for merino, ac compared with preceding series' closing rates, showed no change, but crossbred ruled in buyers' favour. The weakness 13 most pronounced on medium and cearjc grades of ]\ew Zealand, which this season are mostly in very heavy condition, and frequently short ill growth, the former marking n depreciation of 7J per cent, to 10 per cent., and the.latter 5 per cent, io 7f. per cent. On light well-grown ]>rcois the decline is not moro than 5 per cent, v.hile fine crossbred of good style and condition shows little or no change. Scoured and slipe meet a good inquiry at par to 5 per cont. delcihe, while crossbred lambs me occasionally cheaper. The snlc3 J.-ive sine? progressed with good spirit, and the market cloecs with a firm tone." WOOLLED SIIF.RPSKINS, The third series of pubiic sales of woolled sKeopskins of the present year took place yesterday, when, Messrs Balrne report, 4744 bales wue catalogued, the list being headed by 1336 bales from New Zealand. There was tile usual attendance of buyers, but competition was somewhat lacking in animation. Prises for full-woolled merinos showed but little alteration from previous quotations. Short and shorn parcels, however, a3 well as all descriptions of crossbreds, sold at a decline of, from 2J to 5 per cent. As compared with the prices current at the sales held on March 21, Messrs Balme quote: Merino, full and three-quarter-woolled, par; merino half-woollcd, par to 4d per lb cheaper; merino short and shorn, }d per lb cheaper; crossbred, lite, full and three-quarter woolled. Jd to Jd per ib cheaper; crossbred, medium and COHTS2, full and three-quarter-woolled, }d to jd per lb cheaper; crossbred halfwoollcd Jd per lb cheaper; crossbred short and shorn, id per lb cheaper; lambs', par. The prices lor New Zealand skins now are: Merino full-wcollcd, 7Jd to IOJd per lb; merino halt to three-quarter-woolled, Gjd to 9jd; merino short and shorn, 5Jd to BJd per lb, crcssbrcd full-woolled, fine, 9|d to Is per lb; crossbred full-woolled. coarse, BJd to lljd per lb; crossbred half to three-quarter-woolled, fine, 8d to 101 d; crossbred half to three-quarter-woolled, coarse, 7Jd to 9jd; crossbred short and shorn, 6£d to 9Jd per lb. DAIRY PKOnUCK. Messrs W. Weddol and Co. report that the demand for strictly "choicest" quality of colonial butter show, an improvement on tte week, and prices have advanced about -s per cwt for this class of produce, owing l°f - l SCflrc The supplies f choicest butter in the Northern Hemisphere are not yet sufficiently large to fill the Rowing deficiency in arrivals from the Southern Hemisphere, nor will they he so for about a fortnight. Colonial butter of lower quality than "choicest" meets a dragging sile owing to large arrivals from Russia, winch are selling at reasonable figures. Ihe Australian States and the colony of I\ew Zealand sent into the United Kin® dom during April 116,973cwt, and for'the ».oL lUUt WOnlh3 of 11,6 P rcßc °t. year 598.G03cwt. So-far as Australia is concerned tho imports for the year ended April 30 is an absolute record, being 29,939 tons, sgainst 24,7fi9 for the .previous corresponding 12 months "Choicest" New Zealand butter is now quoted at 97s to 995, with "finest" at 96 5; Australian "choicest" is quoted at 92s to 965, and "finest" a} 88s to 80s. Messrs Weddol also say that the demand tor Ganaoian and New Zealand cheese is running strong, and prices are advancing diily. " Choicest" Canadian is bringing GGs to C7s per cwt, and New ©aland 03s to 04s According to the Board of Trade returns, the imports of Canadian cheese for the year ended April 30 were 1,877.296cwt, against 1,540,125cwt for the previous year. By the New Zealand Loan and Mercantile Agency* Company, "choicest" N ew Zealand butter is iuoted f rom 953 )o 100s per cw( Recently the markets, more particularly in the north, have shown more activity, in consequence of which the Danish official quotation has been raised by 2 kroner. New Zealand and Australian butter has participated in the improvement, and the market at tho close is firm, but it is probable that after the approaching holidays, with expected very much larger arrivals of Siberian' and other makes of butter, lower prices will again prevail. TALLOW. There httve been three public auctions of tallow in the same number of weeks, and at the first of these, held on the Mth lilt., as was anticipated by the New Zealand Loan and Mercantile Agency Company, values further declined 9d to Is per cwt, but at the two subsequent sales there has been an improved inquiry, with the result that prices have appreciated about Is 6d per cwt from the lowest point. The outlook is fairly hopeful, as North and South America are 110 longer anxious sellers, while cotton and palm oils and other soap-making materials have advanced in price, although it should not be forgotten that stocks have recently in. creased considerably, In Australasian far arrival little has been done, as colonial pricen are above the market here. The quotations arc: Fino mutton, 80s Cd to 3Gs 9d; fair to good, 35s to 36s 3d; edible beef 35s 3d to 35s 9d; and fair to good, 33s Gd to 31s Gd per cwt.

It is mentioned in the report of tho New Zealand Loan • and Mercantile Agency Company that only a moderate amount of business has been transacted, at fluctuating prices, in Now Zealand flax. Good, fair quality is scarce and relatively dear. Toward the closo a hotter feeling prevails, and tho market closes firm at about 30s per ton advance for good, fair, and 15s per ton for fair. Quotations are: Good fair spot £34 10s, May-July, £31 10s to £35; fair spot, £30 10s, May-July £30 15s; and fair current Manila, £37 per ton, c.i.i. Tow is in demand at £15 per ton c.i.f. GKAtN. There has been an active demand in Australasian wheat for arrival, and a large number of cargoes have changed hands. Oats are in small supply, and liavo advanced 6d per quarter. Boa.ns are in good demand, and are about Is per quarter dearer at tho quotation of 31s to 325. Peas are unchanged at late rates. There is nothing offering for shipment in Tasmanian maple peas, but 45s per 5041b c.i.f. is being asked for a parcel of fine quality New Zealand now on passage. NIW ZEALAND MEAT. The New Zealand Loan and Mercantile Agency Company remarks that thero is little alteration in the position of the market for mutton. The demand lias been very quiet for all descriptions, and etocks are accumulatin®. Prices for be=t Canterbury slieep are unchanged at 3Jd to -ljd per lb, but for I -iakpi shsgfj wjijch in

larger supply, values are slightly easier at 3J(I to aid per lb. A iurthor improvement in tho demand for lambs has to bo recorded, and though no advance bas taken placc in the value of best lambs, secondary sorts of New Zealand and Australian have this week realised }d per lb more money. Best brands of Canterbury lamb are quoted at 5Jd to sjd, and secondary brands at 4Jd to sd. 'Thoso from tho North Island are priced at 43d to 5d per lb. Supplies of Iliver Plate chilletl beef oMitiliuing 011 a small sealo have enabled holders of frozen descriptions to raise prico3 this week, though the demand has for the latter descriptions not been up to expectations. Now Zealand forequarteis have advanced Jd to Jd per lb, :uid are now quoted at 3Jd to 3Jd, awl New Zeaknd hindquarters are }d par lb dearer off .the hooks at Smithfield at the quotation of 3Jd to 33d per lb, Tho C.C. and D. Company mentions that the only arrival this week has been the s.s. Kent, with 5097 carcases. Trade has been quiet, and tho only class of meat for which there has been a good demand is lightweight mutton. Ewes are still very plentiful, and range in price from 2jd to 3Jd per lb, according to weight Canterbury sheep of medium weight are in very littlo request. Quotations range from ,3Jd to -ljd per lb. North Island mutton is still quoted at 3|d to 3Jd per lb, but there is a. littlo better tone, and lower prices ore not looked for. The Kent brought 21,353 carcases of Now Zealand lamb. The C.C. and D. Company writes that this continues the most active section of the market, and tho brisk demand has led to some improvement in values. Lightweight Canterbury lamb 3 are now worth 5Jd per lb, and medium weights command s|d per lb. A few very heavy lambs have been sold at ojd per this grade is very scarce. North Island descriptions are plentiful, particularly light carcases. These latter have improved to 5d to 5Jd per lb, and medium weights easily make Sid per lb. The demand for bsef continues fair, especially for forequarters, and consequently prices hi'.vo been advanced. Jteccipls during tho week include &tl-t quarters from Now Zealand and 23,G02 quarters from South America,