PRODUCE NOTES

Otago Daily Times, Issue 18007, 6 August 1920, Page 6

PRODUCE NOTES

DECLINE IN, "WOOL PRICES.

(From Oub Own Correspondent.) LONDON, May 27. Of the 126,000 bales of London-colonial wool offered at Antwerp last week about 6000 bales were withdrawn. The competition was generally indifferent, .and prices ruled from 10 to 15 per cent, below the rate current at tli3 April auctions in tho sajne centre. It is mentioned by the New Zealand Farmers' Co-operative Association that the last series of London wool sales closed with considerable irregularity in prices. There was a oontinuedl good demand for stylish and well-bred merinos of combing length, but these must bo quoted 7J per cent, cheaper than, in March. The medium combings sold less readily at about 10 per cent, less, while the average . and faulty descriptions were about 15 per cent, lower. Fine crossbreds ruled in buyers' favour to the extent of quite 10 per cent., but the coarser qualities were difficult of sale at a reduction ot 15 per cent. Scoured and slipe sorts followed the market for gTeasy descriptions. Judging from those results, the report of the New Zealand Farmers' Co-operative Association remarks that apparently the extreme prices realised for merino qualities during the past 6ix months are not likely to be seen again. Andl until the demand on ihe part of the consumer for crossbred sorts widens there seems little prospect of improvement for such wools.

In Boston, too, the price of wool "slumped" the other day from 10 to 20 per cent, at an auction of 5500 bales of Australian wool belonging to the British Government. Dealers in New York are said to be agreed that the peak of high prices in wools has been reached, and it is anticipated that there will be a gradual decline towards the normal. Less than a third of the British Government's lot was sold. The class of fleeces which was sold at nominally 3s 10id to 4s lid last week realised from 4s 6d to 5s 2£d three weeks ago. The drop in prices, buyers said, reflected the cancellation of orders, delays in transportation, and declines in Liverpool and London markets for raw. wool.

The decline in tho price of wool and cotton is not likely to havo an early and appreciable effect on. the price of clothes and fabrics, manufacturers are booked up with orders at tho high prices for many months ahead, and while tho price asked for new business is under tho highest, it does not represent anything like the decline shown in the price of raw material. PICKLED PELTS. According to tho report of the New Zealand! Farmers' Co-operative Association the Government-controlled Now 'Zealand pelts have been arriving and have been taken by tho Home trade -at very full prices. General business conditions are decidedly confused both hero and in the United States. Manufacturers are finding business very quiet, unless there is considerable improvement in this respect prices may have to come down from their present high level. IMPORTED MEAT. Excepting in the matter of price, the Ministry of Food have handed back to the Board of Trade the business of disposing of imported meat, and the latter havo just reverted entirely to tie system in voguo before the Ministry of Food assumed control, the meat being distributed through tho nominated agents, who are allowed to sell without restriction as to quantity. Tho scale of maximum prices remains the same excepting for owes and for carcases of mutton that have been cut for '• telescoping." The price mutton has been reduced by Id —to Sd per lb, and cut owes to Id less, wliilo cut prime mutton has been reduced by Id—to Sd per lb. These changes have been in force since tho 10th Mh.y, but so far there has been little appreciable improvement in the demand, and imported mutton, unless it can be guaranteed that tho buyer will bo delivered prime wether, or unless accompanied by a preponderating quantity of lamb, does not sell readily. The supply of lamb is unequal to tho demand, and meets a Teady sale at he full maximum price of Is Id per lb. Tegs aio sold as mutton, although they could just as easily be sold for what they are.

BUTTER AND- CHEESE.

Tho rush of the new season's butter to the market has caused somo easing off in prices. English is quitted at about 2s 8d to 3s, and Irish 2s 8d to 2 s lOd wholesale for the finest- quality. Secondary qualities are at still lower priccs. There is at the moment more butter available than tho public seems to want at the prevailing high prices. This has caused the Government to moderate its distribution schemo, but it still adheres rigidly to the control.

Home makes of cheese are selline fairlv well at is 6d to L, 7d per lb to the farmer for best quality, but it remains to bo seen whether those prices can bo maintained when the seasons yield is fully on tho market Canadian decontrolled cheese is quoted at 170s, c.Lf., or 10 per cent, less tlwn it was a fortnight ago. A fair amount of business is recorded.