N.Z. PRODUCE IN LONDON.

Otago Daily Times, Issue 14926, 31 August 1910, Page 5

N.Z. PRODUCE IN LONDON.

OPENING OF THE WOOL SALES. (Fboii Oub Own ConEEsroNDEST.) ■ LONDON, July 15. On the 12th inst. the fourth series of colonial wool sales of tho present year opened in London with catalogues composed of 96SS bales, New Zealand heading the. list with 5350 bales. Messrs Balme say there was- a largo attendance of buyers, and competition was fairly animated. Prices for greasy merinos and lino crossbreds ruled about on a par with hist eoriea' closing vales, but. scouredii—particularly faulty pieces and looks—showed a deolino nf 5 per cent. Medium and coarse crouibrc<la in tho grease sold at horn par to 5 per cent, below tho May level; whilo on sliptd and scoured* tho fall was more pronounced, especially in tho caso of the medium quality. Quotations for South African, greasics jvoro. unchanged, but snowwhites ntied in favour of buyora to. the extent of id par lb. Tor tho ontiro tories the available amount will bo about 155,000 balca, PROGRESS OF IHE SALES. Writing again to-day after the auction havo been in progress for several days, .Messrs Balme say that the result of tho opening is on tho wholo more favourable than had been anticipated. Competition on the part of both tho Home and Continental sections of the trade is satisfactory. There is little change in prices for merinos. (Iroasies are selling freely at May 'rates; whilo scoureds show a declino in average uf 5 cor cent., • the fall being wore particularly noticeable in the caso of short and faulty lots, whose values have boon on a high level during the last two series. Among greasy crossbreds lino qualities are unaltered in price'; while/for medium and coar'se grades the market shows some weakness, the shabbier and more wasting descriptions selling at a reduction of 5 por cent, on May prices. As regards scoureds and slipes, which form a largo proportion of the offerings, while the fine uuulitioa maintain previous rates, medium and coarse vioits aro from 5 per cent, to 7 per cent, cheaper. Greasy South African • wools maintain- their position, but scoureds, which aro in larger supply this scries, sell at an occasional reduction of id per lb, tho weakness being'-most wi U>> host descriptions. MESSRS WEDDEL'B COMMENTS, American business is still M it is not surprising to find ' U.\j.A. buyers conspicuous by their absence ' Tho flame and Continental-trades aro well represented. .Biddings were brisk from.the' start and at the subsequent sittings competition has been well sustained. Meriuos on tho wholo have about kept their position, full May closing rates being obtainI. ablo for all ordinary' xun of jreaaies, with superior lots,' however, 'ilcrhiijis inclined to be a little weaker 4 and some of tho shorter btirry scoureds aro also a shade easier. Lamia have been scarce, Messrs Weddei mention that greasy crossl Jk have sold much bettor than had been' expected,- and tho finer sorts have indeed.firmly held their own/ Mediums aro also fairly .steady, but bn tho coarser and shabbier lota Lheinj is I not 'infreq'uentljr a, 5 no* cent, decline from May closing prices.: Scoured New Ze.iluud crossbreds havo fared only modorakly well, -most qualities showing a decline of a good S per cent. Fine slipes have been selling well, but medium and. coarse combing kinds have given way 5d to 7Jd. Tho shorter carding lengths aro also tin turn cosier.

WOOLI.ED' SHEEI'SKIXS-SOME UECLIXIi. . The fifth series of, public sales of woolled sheepskins of the 'present year was hold) yesterday, t-ho quantities catalogued totalling 6364. bales, New Zealand contvibufmg 1518 bales and Victoria 1735 bales. Messrs Balme, report that there wa3 a fair attendance of buyers, but competition was somewhat irregular, particularly for combing skins. Prices for short and shorn' descripwhich were in large supply, snowed but little change from those ruling at the preceding auctions, but the rates paid for other classes generally marked' a decline of about 5 per- cent.

As -compared with tho priceg current at til© sales held at the thinning of June, Messrs Balmo quote:—Merino-full and -hroe-quarter-woolled gd per lb cheapo:, half-woolled id per lb cheaper,' short and shorn par; crossbrcd-fine, full, and three-quarter-woolled id per lb cheaper, coarse, lull and three-quarter-woollcd |<1 per lb cheaper, half-woolled gd per lb -cheaper, short and shorn .par; lambs, 2d per lb cheaper The next sale will take plaoe on September-1, and the other fixtures for the year are October 20 and December 8. The following table contains some inter esting comparative figures:— •■ MV ZEAI/AMX.; ~. '. ' • .-Present-'.Proax!:ug - Quotations. Scries... _' ■ per.lb. peril); Description, d. d. <|. d. Merino full-wojlled .. .. ' 6J— sj '7 — 9 » 1 to.J-woolled l. sJ—'.B 51—Si „ short and shorn.. 3J— 6 3.1 6 Crossbfcd full-woollod, fine 75—10} s"— 10J » ii coarse 7— 9j 7— 9J ii ito j[-wcollcd, fine 7— 9 7— 0J » ii coarse- 6— 8 GJ— 8J „ short and shorn 3s— 7 4— 7 GRAIN. .For New Zealand wheat there is a fair demand, and prices, have continued' to movo slightly in. favour of sellers, closing steady at 32s 6d to Me per 4961b.' Efforts are being made successfully to obtain higher rates for the small, parcels of Australian wheat available, 56s 3d . per 4961b being to-day's quotation. ' i For 'New Zealand oats Messrs Weddcl report a market rather more firm,- though prices are not rmotably changed. Gartor.a are realising 17s 6d to 19s, 9d, sparrowbills 17s to IBs 6d, and duns 17s 3d to 18s 3d per 3201b. .-■•". No improvement can bo reported in peas, trade remaining weak owdng to excess of supplies over current requirements. . Tasmanians and New Zcalands range in prico botween 43s and 48s per 5011b, according to quality. taixow. . During the past 14 days the.market has shown decided strength, and prices 'have bounded up to the extent of Is 6d to 2s per cwt, the liner descriptions of both mutton and beef tallow coining in for extensivo attention once more; while low ; sorts are also keenly competed for. Messrs AVeddel mention that there is a good supply of material on the spot, but Australia offers very little for shipment. On c.i.f. terms .a good business has been done .in tallow afloat, and plenty more could bo done if shippers were .a little more hopeful. The standard quality-45ides good colour, mixed—is to-day saleable at 34s 6d c.i.f., and 'fair to good'mutton at from 35s to 36s per cwt. Spot quotations are:—Mut-lon-,go C <l to finest 31s 6d to 365, dull to •fair 33s 9d to 34s 3d, .inferior 32s to 33s per cwt; beef-good to finest 34s to 365, dull to four 33s 3d t0.33s 9d, inferior 31s 9d to 336,

n • ■ ', Jul J' 22. lhiring the past week the wool sales have made good progress and the tendency of 'tho market is -in favour generally of sellers. Messrs IJalmo write that for merino wools competition from both Home and Continental buyers is keen at last sales' closing rates. Exception, however, may be mado of wasting grrasies, for which there is an irregular market,- and cf faulty scou»3ds, which are selling at about 5 per osnt. below May prices, As regards greasy crossbreds, fine qualities meet with a strong demand at prices fully up to last sales' level of value, and occasionally above that. Medium and coarse grades aro also keenly competed for at May rates. Slipes are rather firmer than at the opening, although not quotablv dearer. Scoured crofsbreds ' arc felling irregularly, and generally show, a decline of from 5 to 7i .per cent, on last sales' quotations. 'dairy produce. Only a small amount of business continues to pass in New Zealand and Australian butter; the prices arc about the fame as they were a week ago, with an occasional shilling more- for New Zealand description, which has become verp .scarce. Messrs Wcddel mention that Siberian butter is being exported from that country in larger volume than last yea*. For the month of June, and for tho '■ first three weeks in July, about 275,000 casks were exported, against 251,000 in 1909, Only a portion of this 270,000 came to England much of it goo; to Germany. " \ New Zealand - cheese on tho spot is steadily diminishing in quantity, and prices remain firm. FROZEN y\Ul.' Although, with the usual summer tondenoy, frozen meat price.s have receded another point or two since my last letter, my inquiries in various quarters show a fair cheerfulness on the part, of sellers, indicating that in spite of'nrices being'low, the market possesses a certain buoyancy. Heavy quantities of meat arriving and o'n their way are to be set against the fact that the cold stores how have no big stocks, if beef is excepted. In considering tha position of lamb, < no must not losa sight of the fact that iho demand is perhaps better than in any other year at this season. It has. however, several difficulties fo face on tho 'market just now. In the firet place. New Zealand arrivals have been very ample—"too many for this time of the year," said a big salesman to whom I spoke this morning. The resultant i n mfceajisju«irit«.is. from.

sjid for light Canterbury's to 4|tl-5d ; for r medium North Islanders. Unliko mutton, lamb heavy weights rank almost equally with mediums, which is a cheerful- sign. ' Lamb is also feeling tho effoct of tho. big- j offerings and low rates-of beef. . Mutton >', is, of course, much harder to sell than lamb, * and Now Zealand arrivals .have recently been abovo the average, though, as withlamb,, the present year's figures are still | down. Beef,' of course, is tho outstanding'...\ failure on tho market at the. present ino- ; mnnt, and is a severe object-lesson of tho "'■ kollowncw of the scare of beef-shortage '•' recently ortgineered •by tho live! trade'prorooters. As a matter of fact, this year's re-' •'■ ceipts of'frozen beef-so-far show a rise, of 70,000 quarters on last year, and 'the- !' "afioats" are not calculated to arouse on already dead-slow market, Heavy ohillod arrivals' from -the Plato have a. similar .tinn-, .' dency.- By the way, complaints in London' ' as to bone taint in New Zealand beef aro ' persistent, and form an unpleasant feature >" that one does not like to talk about. People '/ over here to think the cause obvious, • but ask why inspection permits tin meat getting through. Tho old policy of the insurance companies is talked of • as being largely responsible for the evil continuing. / Tho Australian beef "nodule" trouble gadn3' tho widest currency in the wholesale trade,-' but it is oxtremoly fortunate that the publio : press docs not seize on it'for a scare topic. i ; If such a thing should occur, New Zealand i bcof_ might feel tho effect, such is tho British public's lack of discrimination ■in such matters. '■■■'..■. A 6mall shipment of frozen mutton from ' Liverpool ( to New York a week or two ; hack is probably the forerunner of a more - or less regular trade in the future. When / the States want mutton imported, South ; America would seem tho handiest source,-: but_ the Yankees aro open to do'"Iho best,- ' business anywhere, and there- are- rumours '!,., of inquiries made by American parties'.'lately of New Zealand sources in London. .-. The best prospects of opening up a trado in frozen meat with-tho Continent of. Europe seem to lie in the direction of Italy, -' ■ hopes, with Switzerland being shattered by ■■'■ reactionary policy in that quarter, .and '■■:.;. other powers showing no loophole. Genoa-:-has previously been the port receiving small'-/ quantities of refrigerated meat—never nioro, : than 1000 tons a year—but tho trade .'has' dwindled. Now, however, Spezzia is'•; to '. '■ havo large cold stares, and a refrigerator ■-'•'. car service for tho . distribution, of re-/:, frigcrate-d beef is to bo organised.-. The'V municipality is said to bo backing this eri—; torpriso, and the trado is promised !for.' 1911, when it is .hoped that 2000 'tons-"a'.' month will bo dealt with. The position!/' of Spozzia as a naval base will, it is hoped', make the-Italian Government an important customer. The price fetched by beef ; in ;Italy at the present'time- is 1.90. liro . per kilo, par carcase, or. 1.75 . lire, second , quality. Lean meat only is wanted,, and. - the demand for quality is not high,' Neiv Zealand might find an outlet hero for lower, . grade stuff. South America will bo after.; the trado at the start." ',"-"' NEW ZEALAND MAHKETISG PROPOSALS.'. ' As might bo supposed, tho'news of tho : . decision :of t-lie members of' the South .' Island Dairy Association, at their. annual -.' meeting in favour of a. sehomo for .the . disposal of dairy produce has been received ; with great interest by.the trade-here. .Con-.' : signees and merchants are not backward Tri]' 6tating that those who havo handled' New '(■■ Zealand cheese during tho past few yearsi' have-net made much money out of it, and,/, it is tho same parties who state that it is ,! because there is no chance of the same.': advances being made in future ■ as. in. the'.,-' past that New Zoala.nders aro making- tho-, present move. The bulk of the trade nero;■.'_'■ would not bo against wecklyy fortnightly;!; or monthly auctibn sales ! if this practice/•'. were stuck to, and if tlio system taltoii'■ iip universally.' by exporters. If is'the';' fear that tlio . majority ' will adopt' aw-,, tioning that produces adverse comment';-!-: here. Some years ago.of course, the sell-, in? scheme was tried over here, but 1 soon ' Ml through and New Zealanders will have 1 !, to make a more determined effort if.fhcj ; wish to succeed this time. . /.-, 1 The six months' returns of marketings at Smithfield Market show a total of-205,990, - tons of meat, poultry awl provisions!. as./ [ compircd with 208,041 tons for the first .half•'. of 1909—a drop of only 2051 tons,-or 1 pet'.; cent,, entirely accounted-for- by -the 1 do- : ; crease of pitchings of pork.- .Mutton .and i.\ lamb pitchings totalled" 72,890 tons;'-;a-;ss7;i'' ton increase; and bce« .and veal : tons, a-553 ton advance;'. Australia and'-; Now Zealand together passing; 49,979 toria^ through tho market, or 2044- tons! less than - in 1909—a drop of just on 4- per cent. /'.V. Messrs Weddol's annual dairy produce, review, which'is always welcome in the./ trade, is published this mail day,-' and -.has, ; : of course,' a-fine Australasian produce'' sea.-> Ron; to report; For- New Zealand it "giyeiyV. o total import into the United : i' of 16.705 tons of butter for tho 12 months ;■ finded .Tune 20,' as compared with 13,631' tons in 1909 and 15,836 tons in 1904,.'this,';,' previous record. "Mr -Samuel"Lowe, .tho.Y report's author, quotes the excellehcb.in^ tiequality of New Zealand, consignments,:' which'l have before noted, and says the ; only field for improvement lies, in"giving., to the butter a property that will.cnable-it, to retain its cxeellcnce after it comes from the churn for a longer period than at pre-, sent. Only' once, wo further, read, in 1907-8, since oolonial butter came to this country, has so-high (i'lovel of prices been maintained all through our winter months.' The average top r>rice from September to April (inclusive) tin's' season' was'for 'Aus-V I'ralian 115s, o.nd for' New Zealand' 118s 3d |»r ewt. The lowest level in any oneweek reached this season for tho same, nericd for choicest Australian and Now_Zea : .' land was 10&s orH 110s per ewt respectively,'/ has a similarly ohecrful story, with', total Now' Zealand imports into the United ' •Kincdom'of 2 , ,1i51 tons, as compared.with.'; 16,572 ton,3,in 1908, or 22 par cent'of'.tho'.total colonial consignments', or 18.4' 'po'f ■ cent, of all imports. , . . ;.; ;..-