N.Z. PRODUCE IN LONDON.

Otago Daily Times, Issue 14686, 20 November 1909, Page 14

N.Z. PRODUCE IN LONDON.

(Feou Oua Own Cobbsspoxdxnt.) LONDON, October 8. WOOL. Last- Friday saw the close of the fifth scries of wool sales of the current year; 58,621 bales of New Zetland wool were catalogued, the total available for the series being 109,296 bales. Of these it is calculated the Home trade purchased 65,000 bale*, the Continent 35,000 bales, and tho United States 6000 bales Withdrawals were not frequent, and, with sales in many ca=es being (illicitly effected privately, only about 3090 hales remain unsold, and, these including about 2000 bales unoffered, remain over for future realisation.

Messrs Wcddel ieport tiiat tho series closed in a very satisfactory manner so far as t'rowois and holders have been concerned. Buyers faced with a high level of prices arc, of course, not so comfortably situated, but a. good trade is doing, anil until tlia now season's wool from Australia arrives in important quantities it would seem from the bare state of stock here that anyone wanting wool will havo to pay full market rates. The selection on the whole of greasy merino wools Was not very, interesting, but there was some good lines of Queensland new clips catalogued, and prices remained very firm up to the close, the advance of 10 per cent, to 15 per cent, above July rales, as previously reported, being easily maintained. Scoured mads- a fair show. The best sorts finished up strongly au about 7j per cent, to 10 per cent, advance . over July, and with all nicdium sorts about 10 per cent, dearer. Fine crossbreds went very well, and American competition increased as the sales drew to a close, final prices being often 10 per cent, to 15 per cent, above July currency. Medium sorts kept up their improvement of about 15 lie. cent., and coarse aJso ; closed very strongly at a similar advance. .Siijss held their improvement, and with : imu spirited foreign and Uvailforil compolilion, linrshcd up, on average, close on 15 per cent, over July prices. Greasy crossbred lambs, iiioi* particularly interior lots, [improved about 10 per cent, As compared with the July closing I values, merino wool is 10 per cent, dearor [ itoiv, line crossbred is also 10 per cent. i dearer, while modi Jin and coarse crossbreds : have improved from 10 per cent, to 15 per cent Messrs Ualgety and Co. mention that the general advance on merino ecoureds was lid to 2d per-lb, and on the best qualities this was a bare 10 i>or cent but below these tho percentage rise wu naturally increased, and amounted at times to more than 15 per cent. On the best sroasiojs, agan, the advance was not 60 marked as on medium to good lots In line crossbreds the average rise was 10 per com., but parcels of irregular quality were at times taken for America, and on the=e the advance was 15 per cent, and more. Alodium and coarse crossbreds ruled throughout, at 10 to 15 per cent, advance, the greatest rise being- on medium uuali. ties. *

The bulk of tho offerings consisted of i\ew .Zealand sljitf and scoured wools' but a-tow good stnngs'of new clip Queensland wore- submitted, and met with keen competition.

With regard to the future, Messrs Dalgctv f i /. T!: C: 7-",' rl,cro sooms to be no doubt that both hero and on the Conunent spinners arc. well supplied with oilers for some months ahead, and that stocks of raw material are practically oX.hausted. In America tho'manufacturers hold considerable stocks, but dealers are :ckared' out -and with: the'expansion in trade now being-experienced in that' 'counl,?j- f< , a I "?s lefato demand mav bo ; looked or from that .quarter, though it •nay not so so continuous as during the | pas season. 0„ these grounds we do not anticipate much, ,f any, weakening in ipnces for the remainder of this year, hough when once the full weight oE the monno clip , s available, some siackenng demand » likely to be experienced^ wiih a consequent decline from present ; "gh-rates The coaler grades ocrc^1 '' elativc ] y chea " "•' len com. ipaied with fine wools, and may consej quen ly.receive more'; attention from buyers, | wh™ should tend' to maintain present

The first series for 1910 will open on January 18, without limitation as to qua! tilyj subsequent dates, have vet to be

For the past year the Continental con sumption of colonial wool tfhow"an Z crease of 242 000-bales, and the American' an increase of 93,000 bales. ■ . . . GSAIK. Wheat: In sympathy with other descript.ons New. Zealand wheat has been neglected by buyers, even at 38s for longberry and 37s for shortborry per 1961b. Messrs Weddel remark that the country markets are wall supplied with Engbsn wheat, but that trie bulk is in poor condition; prices ran?o from ote to 36s per 5041b delivered •SZs to S6s per 5041b delivered to mills 1110 average price last week of 32s 2d per Imperial quarter marked a decline ot Is 4d per quarter from tho previous fortnight, but is 7<l per quarter hig'her than at tho same time last year. Oats: Best grades of New Zealand oats are in moderate supply and good demand, but the lower qualities are too plentiful and are weak at a further icduetion in price. For Gartens 24s 6d to 26s and for sparrowbills 22s to 24s per 3841b arc still the ruling quotations. Dutch are difficult to sell at 18s to IBs 9d per 3201b. Peas: The unsatisfactory condition of i"' B , .Homo crop creates, a demand for supply, are-firm at"Wfo 48s peV'so4lb for Now Zealand Partridge and Tsamanian Maples.

Messrs Weddel mention that durin" the past two weeks tho Athonio has arrived with 8130 sacks of wheat, 36,772 sacks of oats, 1116 sacks of barley 500 sacks of beans, 222 sacks of peas, and 1376 sacks of seed, ■ from Timaru, etc.;; the Nere'hana, from Lyttelton, lias, brought 7794 sacks of n wheat, 14,083 sacks of oats, arid 400: sacks of peas. ' ...... rj.unr PBODUCE.

Prices for New Zealand and Australian butter are stiffening and meeting an increased demand at 112s to 114s per cwt for "choicest" Australian, and 116s lo 118s for "choicest" New Zealand, with ■120s for fancy brands of really choice quality. Messrs Weddel writo that there is more stir this week in the market for Australasian butter, due to tho shortening of supplies of other kinds, which always occurs during tho autumn months, and which cannot be • cheeked except by tho beginning of tho New Zealand, Australian, and Argentina butter seasons. Arrivals during the week include 1790' boxes brought from New Zealand by the Tongariro. Th market for foroign butter is not so strong in England as on tho Continent. There Danish, Dutch, and German markets aro very, active for test qualities, and l'rench is developing strength. Prices are consequently rising, and Germany is buying frely in Copenhagen; tne result is an advance of 3 kroner in Danish, which is now 121s 6d per cwt at the dairy in Denmark, and 128s 6d on tho London market. The- present price of 108 kroner is tho highest for the first week in October sinco 1699, when it stood at 117 kroner. In cheese, mora business is passing this week, but the market cannot be called anything but dull; thirc is no change in price. Messrs Weddel quote Now Zealand "choicest" cheese at 67s to 58s and "finest" at 565. TALLOW. Messrs Weddel write that there has been an active demand for tallow, with the result that values have advanced fully 6d per cwt on all descriptions. Edible sorts, after being neglected for some time past, aro now in strong request. The London stock at the end of last month was returned as 12,933 casks, this being a decrease, of 1595 casks on the month. On c.i.f. terms a considerable business has been done for shipment in good mixed, 30s 3d to 30s 6d, with hard mutton 31s 6d to 31s 9d, and edible mutton and beef 33s and 32s respectively. Current spot quotations are: Mutton—Good to finest, 32s to 33s 6d per cwt; dull to fair, 31s-to 31s 6d; inferior, 29s 6d to 30s 6d per cwt. Heef-Good to finest, 31s 6d to 32s 6d; dull to fair, 30s 6ci to 31s; inferior, 2&s 6d to 30s per cwt. .V.J!. MEAT. Demand for New Zealand mutton has boon very quiet during the fortnight, and prices are practically unchanged. Best Canterbury sheep up to 641b are quoted by Messrs Weddel at 3sd per lb, the heavier, weights being worth about. £d less. North Island sheep of best quality are scarce, and meet with a slow sale at about 3£d per lb for the small and medium weights, and 3|d per lb for the heavier carcases.

Notwithstanding the lowness of chilled beef prices, frozen beef has come in for a little more inquiry, and values are a shude dearer for both fore and hindquarters. Messrs Weddel quote New Zealand hinds at.3 3-16 d and foreqiiarters at'2Jd per lb. • ". '

■Even tho very limited supnlics'of New ZuaJanU mutton offered have failed to sustain the market. Th« C.C. .wJ ]). Company soya that tho quotntions Imve a weaker tendency, wbicli would raoidly tie.

vcldp under Hie influenco of moro liberal olforings. Fortunately, importers aro under no necessity to increase- tho output, and consequently quotations aro noinin. ally maintained at last rates. Canterbury sheep arc in little request,' and the demand for North Island descriptions is very easily satisfied. Values for New Zealand lambs have been maintained during the week with difficulty, but the consumption - ; is still remarkably good for the time of year. Some grades ot lamb are actually cheaper than mutton, and naturally command the. preference wherevsr suitable. The C.C. and D. Company notes that light Canterbury lambs are worth about S?d per lb, and values range from that figure down to 3jd per lb for mediumweight North Islands. ; Arrivals during the week have been moderate—227o carcases from New Zealand,- 304 from Australia, anti 1600 from South America. Demand for frozen beef lias been interfered with by plentiful" suvmlies of chilled beef, and prices Were inclined to suffer. At the finish, however, forequartcrs have a 'firmer tendency, _ and the quotation is 2Jd to 2l<\, while hindquarters aro catalogued at 3d to 3}d per lb.