Untitled

Otago Witness, Issue 2413, 7 June 1900, Page 14

NEW ZEALAND PRODUCE IN LONDON.

{From Otjb Own Coheespondeitt/)

LONDON, April 20.

The National Mortgage ancl Agency Company report that there has been rather a better feeling in the wool trade during the past fortnight, although it can hardly be said that confidence in the future is fully restored. The den~ and for merino wool continues very much rab-ricted, but theic h?s been some inquiry for crosVbveds of fine to medium quality at prices somewhat above those bid at last auttious,. The gross ariivals to date for the thhel series, to open on the Bth prox., total 213,702 bales, or which 55,260 are from New Zealand.

NEW ZEALAND

Ie is satisfactoi-y to learn Ironi llessrs Weddel that tlie beef fiom New Zealand lias been of good quality, and that, despite the heavy aiiuals, values have teen maintained at 3d per lb for forequaiters, and 3jkl to 3£d pei- lb for hindquarters.

From tiie produce manager of the New Zealand Loan and Mercantile Agency Company I hear that ih» tone of the Sniithfield market has shown a decided unprbvement as regards New ZealaiiCi million and lamb. The demand fo? the former is now teiy good, especially for prime quality sheep, while prices rule firm, and the prospects for a continuance are considered to be encouraging. Best Canterbury mutton i-s quoted at from 2s 7d to 2s Sd pelstone; recoaclary Otago and Southland at 2s 5d to 2b 6d; and North Island mutton at 23 3d to 2s Sd per &ione. Lamb is in good demand pfc firm rales, and future arrivals will undoubtedly realise better prices, particularly if they are of lighter quality than those now" on the market. The quality of lecent arrivals, says this firm, has inclined towards heaviness, no doubt, ov/ing to the good season experienced for lambs in the Australian colonies — especially in New Zealand, — and skcrald this continue an increased demand for Australian lamb may be expected. The New Zealand and Australian beef trade is still characterised as being rather flat, prices for New Zealand hinds being 2s 4cl to 2s 5d per stone, and for forequarters 2s to 2s Id per stone.

There has been a fair demand for New Zealand mutton, and arrivals from New Zealand during the past fortnight are put down by the National Mortgage ancl Agency Company as 52,874 sheep. The Aotea and Star of New Zealand are also just in clock, and the Banffshire is close at hand, but the cargoes of these vessels arc not included in the figures quoted. Stocks on hand have rapidly decreased ; many stale, long stored. Shipments have been cleared off, and values show a further advance of |d to Jet per lb. Considerable quantities of New Zealand lambs are arriving, .but the demand is increasing every week, prices for prime Canterbury lambs rouging from 4|d to 5Jd per lb ancl other brands 4Jd to 4fcl per lb. Frozen, beef meets with a quiet trade; that from New Zealand is quoted at 3Jd to 31cl for hindquarters, and 3d to 3£cl for forequarters. Fiozen rabbits are still slow of sale, and holders are anxious to clear before the warm weather sets in. Best Australian rabbits are quoted at BJdio 9d each.

Messrs Fitter say: " The frozen mutton tracta is good, ancl prices firm; lout, unfortunately, there is at present a dearth of good quality; sheep, and much of the mutton now being sold as ' pump ' will without doubt give great diss.ihsfactjon to the consumer. If more attention had been paid to quality during the last few \ears, there is no doubt that the demand 1 wculrt have been far greater and prices con-

siderably higher than they now are. The demand for New Zealand lamb is good, especially for small lambs. The larger ones are at present going off quite as well as cotild be expected. Probably this is owing to the short supply of home-killed mutton." These aie Messrs Fitter's prices for New Zealand meat : 'Mutton: Canterbury, 3Jd to 4d per-lb; Wellington, 3Jd to 3gd per lb; Canterbury lamb*, 4|d to sfd per lb; "Wellington lambs, 4id to 5d per lb; New Zealand hindquarters of beef, 3JJ to 33d per lb; fosequartei-3, 3d to 3id per lb.

Prime mutton is said by the C. C. and D. Ccmpany to be very scarce, and any of really good quality, handy size and weight, would find a ready sale. Prime Canterbury mutton especially is short, and most of that offered on the market is heavy and fat and wasteful witn no pretence to the breed and quality of the old-time sheep. Many are of distinct ZNToith Island type, and oilers unmistakably merino. Prices are said to vary very much. Small lines of most favoured brands, of about 521b, have made 3|d per lb, and there are buyers ior really prime carcases of like weight ; others have sold at old per lb, and a still larger number of the ordinary run at Sgd. Dunedin sheep of good size are~"worth 3gd, and so are the besi from the North Island.

One hundred grid sixty-one thousand six hundred and thirteen New Zealand lambs have been received from New Zealand. "Last week a good'tiade was> done, and the C.C. and D. Company state that the estimated deliveries at Smithfie'd were the heavipst for more than a year. This week the change to warmer ■weather should still further indiice deraand, esßgcially as the ■s'-ale l ambs are worked off, and all now marketed nre fresh, and should give satisfaction. Prices are rather fLrmer, and 5d to s£d, -with, an occ^ionai o^d per lb, are more easily made for medium sise best quality Canterbury lambs of about 341b or 351b ; heavier lambs of 40lb and upwards are more tinselling, and ooiiunarS pbout 4?d per lb. Dunedin and UNTorth Island sell at about 4£d to ihd per lb.

DATE? PRODUCE

Tfce de^nand fo. - New Zealand and Australian -^butter is summecJ up by Messrs Weddel a. 5 ; -■" erratic." Ord:2iary quality, they say, is ■ifiifncult of sale ; special brands, known as -*' fancy." which were placed early in the seateon with' good retail houses, are making excel3ent price?, as agents are able to squeeze about 2s per cwt 3.bove market value from the buyer 0 »wlio. at the present moment, are unable to sxxpply their wants from other sources. " Choicest " liutter on the soot is about 2s per cwi deare: than last week, but it is expected that the ararival of 11,000 boxes of Australian biittev anc 1 43,000 boxes from New Zealand this week wil ihave a tendency to reduce values to their former level. " Choicest " makes 95s to 94s p?r cv/t according as the quantity of each purchase *' c Sarge or small. In the special cases rneniionec 1 S6s is obtainable. About 15,000 crates of Nev Zealand cheese have arrived this week. They as a slightly increased demand for Canadiar cheese, and white may be purchased at 60s cc 61s, but colotired runs at 62s to 635. A fer new season's are offered at 50s to 575, c i f.

This week there has been a somewhat betid inquiry for New Zealand butter, though the Jfew Zealand Loan and Mercantile Company a'emarlts that prices are unchanged. Supplies 'of finest colonial butter are in small compass and values for this class have remainpd steqdj at from 92s to 945, with an occasional 96s per cwt, while good to, fine is quoted at from 80s Ito 83s per cwt.

There is rather a better tone for butter this week, and the National Mortgage ard Agency iCbinpany say that 94s has been touched fofinest New Zealand butter, but 90s to 92s represents about current value. Cheese is quiet, but firm. Best New Zealand is quoted at 60s to 62s per cwt.

MISCEI/LASraO'oS

In consequence of the comparative scarcity tof English wheat — which last week wag Is 5d per quarter dearer than during the same t ; me last year, — buyers hnvo turned their attention more to New Zealand sorts, vvd Messrs Weddel retjprt that prices are well maintained, the quotations being: Tuscan, 28s to 295; Hunter's and pearl, 27s to 28s per 4961b. The simply of tNew Zealand oats is still scanty, and the inarproved rates recently reported are fully maintained. For New Zealand beans there are said (to be no inquiiies, and values are nominally unchanged. Durina the past fortnight MoLsrs "Weddel state that "the Waikato and the Hala liave arrived in London from Lytielton with cargoes of wheat, barley, beans, peas, and seed. ■With reference to cocksfoot, I hear from the 'INTew Zealand Loan and Mercantile Company that trade continues very dull, and tha 1 the small transactions reported have only been carried through by making a further concision dn prices. In new crop seed. ' to arrive," little or no further business has been done. From "both these firms I learn that a quiet tone has continued to prevail in the market for tallow, ithe demand having- been from a hand-to-mouth character, while the intervention of the holidays has accentuated the prevailing quietude. QDhe New Zealand Loan and Mercantile Com(pany point out that though lower rates to the ■extent of Gd per cwt were established at the ■auctions of a fortnight back, and though this •lias, perhaps, induced more inquiry on the <spot and for parcels afloat, business has been restricted. Messrs V7eddel th nk that there are some slight symptoms of a revival of the demand, and it is deemed probable that before Bong a better trade will ensue, though a further decline in prices is probable before business presumes its normal course. No public sales ■were held this week, but last week's sales resulted'in a decline of 6d per cv.'t for the small /quantity sold. Business on c.i.f. terms has ifeeen restricted, but some sales of stuff arrived, or not far oft, have been made at 27s 6d to 28s "Gd per cwfc for mutton and 28s 9d per cwt for "beef. Here are Messrs I Wcddel's spot quotations : — Mutton : Good to finest, 29s to 30s per icVfc ;" "dull to fair, 28s to 29s 6d per cwt ; iniferior, 27s to 27s 6d per cwt. Beef- Good, to (finest, 27s 9d to 28s 3d per cwt; dull to fair, 26s 9d to 27s per cwt; inferior, 25s 6d to 26s per cwt. Dullness is said by the New Zealand Loan fffid Mercantile Agency Company to have been

the prevailing feature during the past fortnight m the market for New Zealand' hemp. In ' sympathy with the retrograde movement in ' values for Manila, consequent upon heavy receipts and large shipme2its, prices for NewZealand flax have fuither receded. In the present unsettled condation of affairs quotations are more or less no/ninsl, but, on the spot, good fair medium cannot be said to be worth more than about £32 per ton. For a parcel of good quality J833 per ton was recently accepted. Two shipments, per s.s. lonic and Maria de Xarrinaga, of a considerable qtiantity sold to arrive (many times over) have come to hand, and the attention 01 buyers is at present -primarily engaged in dealing with them, to the neglect of fresh business.