NEW ZEALAND PRODUCE IN LONDN.
(From Our Own Correspondent.) LONDON. August 13. I WOOI.. Since tho date of my last notes, as to wool .there has been, as is usual at this period of the year, a quiet time in the London wool market. I learn that the demand for merino woo] previously reported continues, but that very few transactions have taken place. In the manufacturing centres, both Home and foreign, the effect oE tho scarcity of merino woo] is becomingly increasingly noticeable in spite of indifferent trade and of the consequently -reserved attitude adopted by consumers, while tho prospect of an early termination of the war between Spain and the United States! encourages the hope of a revival of American demand for raw material. The arrivals to date for the fifth series of sales, which begins on the 20th of September, includes about 165,175 bales of New Zealand and Australian, and 30,037 bales of South African wcol, of which about 50,000 bales of New ' Zealand and Australian wool hai been forvarclcd direct to the manufacturing districts. NEW ZEAXAND MEAT. Messrs H. S. Fitter and Sons note this week : — " The demand for New Zealand mutton is not what it would be if the sheep were more level in quality. Tho Canterbury sheep are complained of because so many in every parcel are long and plain in the legs. Wellington sheop are in better demand, and Wellington Down sheep "meet with a ready sale. Both Messrs Weddel and Co. and the C.C. and D. Company inform me this week that
the -trade in New Zealand mutton has been quiet, but steady, and the former " add that although valuea are hardly bo firm, they show no appreciable change, which is attributed to the fact that stocks are in few hands, while none of the holders are inclined to press sales. Carcases of 481b to 641b Canterbury sheep have been selling at 3gd to.4d per lb; a few plain Canterbury sheep of the same weights selling at S^d per lb. Siipplies of secondary New Zealand sheep are plentiful, but prices have been fairly well maintained, for Messrs Weddel quote best Dunedin and Southland mutton of 60lb average at 3Jd to 3!d per lb. In consequence of so many people being out of town, I learn that the demand for New Zealand lamb is lessening, but stocks are so well in hand that it is anticipated that prices will be fairly well maintained — so say Messrs Fitter. Messrs Weddel- remark that the demand for New Zealand lamb has been very strong, the consumption during the earlier part of the fortnight being particularly heavy, and with supplies in few hands and firmly held, better prices have been obtained. But during the current week salps have not been quite so numerous, especially during the past day or two. Last week best Canterbury lambs were selling at- 4|d to 4|d — making an advance of Jd per lb, — while ordinary Canterburys were making 4£d to 4id per lb. Other descriptions of .New Zealand lambs improved in sympathy, and Dunedin and Southlands brought 4|d to 4£d per lb. The C.C. and t>. Company also tell me that the absence from town of so many buyers has adversely affected the sale of New Zealand lambs this week. MIS CBLLAHEOTJ3 . There is no New Zealand cheese on the market, for stocks of old cheese in London aTe nearly cleared. There has been a fairly good btipiness passing in Canadian cheese, white beinjj quoted at 31b to 39s per cwt, and for coloured, which is rather scarce, the figures are 40s to 41s per cwt. But it is not expected that Canadian cheese will make such good prices this year as those realised last year. Messrs Weddel tell me that a portion of the Tuscan wheat which arrived from New Zealan I by Ihe a.s. Kaikoura has been put on the market, but it has attracted little attention. Its value is about 36s per 4961b. Holders of New Zealand oat 3 arc firm, for tb.fi supply is very limited. Fine heavy" samples are quoted at 28s to 30s, and fair ordinary at 26s to 27s per 3841b. In New Zealand beans there is no change, and the market is quiet. No New Zealand flax was offered at this week's sales. Last week a few lots of common sold at £20 to £20 ss. Sellers generally are steady, but in view of the prospects oi peace in Manila, business is practically suspended, as buyers look for some reaction. Quotations are nominal. For preserved beef and mutton the demand is only limited, but there is no change with regard to values. During the last fortnight the tallow market ha 3 been very quiet. The holiday season, Messrs Weddel say, appears to have had an adverso effect on the demand, with the result that at the auctions on the 3rd and 10th inst. only very small parcels changed hands. The few sales which -have been ma&e show no change in values, but, in prder to make fair progress, about 6d less money would have to be accepted for spot tallow. Beef of good quality is scarce, and meets with good competition", bringing comparatively high prices. On c.i.f. terms thero is practically nothing doing for shipment, but a few transactions are reported for parcels arrived in -tne river. Prices for these, Messrs Weddel continue, are generally in the buyers' favour. A quiet market is anticipated for the next week or two, after which tho usual autumn track- shotild help to effect an improvement, both with regard, to value and demand. For New Zealand . rabbitskins there was a goofi demand at the auctions of the sth inst. Thj catalogues were cleared at about 3d per ib advance on the average. New Zealand good winter skins are quoted at Is 8d to 2s per lb ; summer and low skins, Is Id to Is 7d; inferior and suckers, 8d to Is per 18.
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Bibliographic details
Otago Witness, Issue 2325, 22 September 1898, Page 14
Word Count
994NEW ZEALAND PRODUCE IN LONDN. Otago Witness, Issue 2325, 22 September 1898, Page 14
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