NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2414, 14 June 1900, Page 15

NEW ZEALAND PRODUCE IN LONDON.

(From OttrOwn Correspondent.) I LONDON, April 27. | wool. I Yesterday the third series of public sales of ■woolled sheepskins for the present yesr took place, the total quantity offered being 3268 bales. New Zealand was represented by 738 bales, thus , heading the list; South Australia coming next with 675 bales, and West Australia following ■with 631 bales. In their report of the auction?, Messrs Balme tell me that there was an average attendance of buyers, who operated with considerable caution, piices for all -descriptions, both merino and crossbied, marking a decline ; of 7| per cent, on the rates ruling at the preceding" sales of woolled skins. In comparison '• •with the values current at the March sales, ' Messrs Balrne now quote : Merino. lull- woolled, id to ?.d per lb lower; nierir.o, half -woolled, i& per lb lower : merino, p.elts £".d shorn, £d per •lb lower; crossbred, fine (full-wcolled), |d per lb lower; crossbred, coarse , (iull-woolled), gd per lb lower; crossbred, fine (half-woolled, id per lb lower; crossbred, coarse (half - wool] ed.\ Jd per lb lower;' crossbred, pelt, Jd per lb" lower. The fourth, series is to. take place en _ the 14th 'Junp. Present quotations : Merino, fullyoolled, Ggd to SJd ; merino, half to tliree-quar-ter wooiled, 6-id" to 7Jd; merino, "short i&d shorn,- 43d to 6Jd; crossbred,. fuil-woolled (fine), 7d to BJd; crossbred, full-woolled (coarse), oid ; to 6Jd; crossbred, half to threc-quaiter- woolled (fine), s|d to 6§d ; crossbred, half to three-quar-ter-woolled (coarse), 4d to od ; crossbred,, short . and shorn,' H^d to 4Jd. i -- May 5. ' ■wool. ' In their report this week on the wool market, tlie National Mortgage and Agency Company tell me that since the close of the late series , of sales in March the condition has been mere I or less stagnant and depressed, merinos and i crossbreds alike having suffered. Looked at i from 'a statistical point of view, ihere is abso- , lutely nothing to warrant the sevsre decline that has taken place in merino wools, amount- ' ing to fully 25 per cent., since last December, i It is becoming more and more evident, however, j that a large" proportion of the i-ise during the j last two months of the year was due to speculation, and until the mass of wool so bought is liquidated and -the consequent financial strain | lessened, the position must remain more or less ] ■uncertain. Crossbred wools, which also shared in a much- smaller degree in the rise, have also Teacted- proportionately, and the present condition of "the market, continues this same report, is no doubt in part due to the hesitation of manufacturers, who prefer to await new developments while using up old stocks. _ As the centre of the" speculative movement emanated from the Continent, and chiefly in the north of France,, the,support that has been generally looked for from that section of the trade at this time of the year may be wanting, the liquidation of the large quantities of wool importer! direct from the colonies and the Eiver Plate having still to be completed; on the other hand, there is nothing to show that the consumptive power is' in ' ?ny way lessened. The appointed limit of 25,000 bales of aiew arrivals- for the" approaching sales on the #th inst. having been reached on the 30th ult., the list was closed on that . ' day, the new arrivals from New" Zealand total'lir<g 85,103 bales. The date of the fourth series ' is not yet fixed, but already 11,017 bales are to ihand, New Zealand being represented by 218 - loales. NEV, T ZEALAND KE.VT. For all descriptions of New Zealand mutton the market is reported by Messrs Weddel to be very firm, while 'a further advance of id to Id per lb has been established. The demand is steady, though the consumption has recently been somewhat checked by the higher prices now current. The position is .strengthened, however, by the moderate stocks on hand and light shipment afloat; and, further, by the usual dearness of Scotch and English mutton just now. Small sheep are still relatively scarce, and command a ljremium over heavy carcases in all cases. Light-weight Canterbury mutton is now selling up to 4Jd per lb; medium weight, at-4d; and heavies at 3Jd per lb. There are comparatively few Dunedin and Southland sheep" on offer, and quotations are firm at 3|d to 3|d per lb. Best brands of Wellington mutton are making 3|d; while, in consequence of small offerings, other descriptions of North Island sheep make 3|d to 3|d per lb. As regards beef, Messrs Weddel characterise it as the one weak spot in the frozen meat market at the present time. Although arrivals from Australia are light, supplies fiom New Zealand and the Eiver Plate continue very heavy ; while the market is still being overdone ■with town-killed South American beef, and large quantities of chilled American beef arc coming to hand. The market remains inactive. Tallies for that from New Zealand show a reSuction of about Jd per lb during the fortnight, Mndquarters now being quoied at 3^d to 3!d: and fores at 2gd to 3d per lb. ■ With reference to New Zealand mutton, the Ixew Zealand Loan and Mercantile Agency Company reports an exceptionally good demand, •while prices r rule very firm, particularly for light Canterbury sheep — namely, 2s 8d to 2s 9d p"er stone; secondary and Otago and Southland anutton is quoted at 2s 7d to 2s 8d; while that from «the North Island, stands at 2s 6d to £s 7d — the same as Australian mutton. Owing to the very large arrivals of lamb from gjgjjf jicj.VatiA^ ilia JNew ZeaLmd Loan a»d Mer-

cantile Agency Company note that prices have slightly declined, while the demand is hardly brisk.' Prime light -Canterbury lamb is being disooaed of from 3s 5d to 3s 6d per stone; , secondary Otogo and Southland, lamb realising j 3s 4d to 3s sd; North Island, 3?' 3d to 3s 4d. ! For beef the market is said to be very dull, i and it is exceedingly hard to effect sales at ! satisfactory rates owing to the large arrivals of American beef, which, iaving been reduced in price, has caused a drop in that from New Zealand, therefore the present quotation is 2s 3d to 2s 4d per stone for hindquarters, and Is lid to 2s for" fores. I Trade in frozen rabbits is almost nominal ; ' arrivals are stated by Messrs Weddel to con- ' ! linxie large, and in consequence of the small , ■ demand the bulk goes direct into cold store. Never since the trade began has there been s v o i little business as at this time of the year. The , • casing off in inquiiy is attributed to the mleiior condition oi a treat many of last year's Kew Zealand rabbits, which did much to kill {he demand. The large furred varieties from Australia are making 7fd to SJd; those from New Zealand 7d to 8d each. Young from boi.ii co'onips are quo bed at 6d to 7d. During the past month the demand for frozen rabbits has become more restricted ewry week, the National Mortgage and Agency Company inform me, and they add that in spite of the greatest efforts on the part of holders, new arrivals have not been cleared, and stocks are consequently accumulating. The bulk of the ' good New Zealand rabbits now offering being of a brand which is m bad repute among buyers, accounts for the low quotations, but the market generally is very weak, and buyers are masters of the situation. Here are the current prices for those from New Zealand : Large, 2Jlb to 31b, 6id to 7d each; medium, 21b to 2ilb, 5d to 6d each ; beat Australian rabbits are quoted at Sd to SJd, the class being large, 2£lb and up. The N.M. and A. Company report that Dunedin and Southland mutton, very little of , which is offering, "may! be quoted nominally at 3Jd to 4d per lb, while seelcted brands of' North Island sheep, such as Longburns, realise the same price: Ordinary" North Island sheep meet with a ready sale at 3|d to 3|d. j ! For New Zealand" lamb, the same firm writes that there'Tias been a good demand, which is increasing week by week, arid in spite of heavy arrivals — 260,000 carcases from" New Zealand — ] i prices are firm with an upward tendency. Best , , Canterbury lambs under 361b may be quoted at ' s^d, find above this weight about 5d par lb, other brands ranging from 4|d to sd, the lightweights, as in the case of mutton, being at a I premium. It is said that there has been a I good deal of bone taint among recent ship- j 1 ments of New Zealand and Australian beef. 1 Since Ist January the imports of New Zea- j , land mutton have arrived at the. total of j 631,362 carcases. The C.C. and D. Company j say that the trade of the past four weeks shows ] j considerable improvement ; the bulk of the | stale, long-stored meat has beer worked off, I i and moat of the sheep now marketed are bright ! and fresh and in good condition. "With receipts ' in manageable numbers holders have been able materially to advance values, but not to the ] extent they might have done had qualities been better. There is a gi'eat lack of really prime New Zealand mutton, of handy selling size and j weight, and considerable inquiry for this class of meat exists, and were it procurable would command high prices, probably 4Jd 'per lb for Canterbury mutton were the desired quantity to be had. The bast Canterbury sheep, 551b to t 651b, have this week made 3Jd to 4d per lb, sej lected selling at 4Jd ; other Canterbury mutton has sold at 3|d to 32d^per lb, much being heavy, fat, and wasteful. Very few Dunedin and Southland sheep have been marketed; their value is sst down at- about 3|d per lb, while North Island mutton has sold from 3gd to 3Jd for best weights. The condition of this class of i meat generally is good, but a good deal of it is j far too large and fat to suit buyers. A good I many sheep are going into consumption immediately' on being landed ; this- is a favourable feature, indicating thai stocks are not heavy enough to prejudice values, and the probability !of present remunerative prices being maintained is counted xiporr, with perhaps enhanced ' rates! • This year the quantity of lambs received, from New Zealand have totalled 409,067 carcases, an I excess of 2086 over last year. The C.C. and D. I Company tell me that a good trade has been i done ; in Easter week an unusually large num- | ber went into consumption, and since then deliveries have been on a large scale ; small and medium-sized lamb 3 have been specially in demand, commanding good values — namely, from 5d to s^d per lb ; heavier lambs are not so i saleable, though the last few days have seen more inquiry, and lines have been sold at 4|d to 4gd per lb. At present the position is regarded as good, and the prospects are thought j to be hopeful despite the heavy receipts. Probsbly all shipments pric to that of the lonic have been sold, and large numbers ffom the Ruahine and Aotea, went direct from the ship to the market. Quality and condition of the i lambs have been good so far, the C. C. and D. | Co. say, the only exception that can be taken being the size and weight of many. Lambs on ; 421b to 481b and 50lb are too heavy early in the sec son for most buyers: in a month's time there will probably be a bettor market for this sort, but at present they are only bought m the absence of more sizeable meat. | DAIBY PEODUCE. i .From Messrs Weddel I learn that the season . for New Zealand butter is rapidly closing. Prices remain about the samp as last week. A large proportion of the " choicest " quality but1 ter is now being purchased for cold storage pr>r- ' poses, to be either shipped 1 to South Africa during the next month -r two, or kewt in London until the autumn. The Whako/fcane is reported to have just left New Zealand with ; about 5400 boxes of butter on board, and is due I here in the middle of next month. The total | quantity of butter iiorn New Zealand and Australia which will have been received this season 1 leaches the large amount of about 26,000 tons, or an increase of over 10,000 tons on last seasov. -The New Zealand Loan and Mercantile i Agency Company says that dining the pas.i fortr.ighl the inquiry for Now Zealand suirl Ajittimlian butter has ruled extremely quiet.

particularly in the case of fine qualities, the free .arrivals from the Continent and the increasing local supplies usual at this "time of the year curtailing sales of colonial .butter, values for which, however, show no material change. Finest is quoted at 92s to 94s per cwt/aiid fine to good 80s to 88s. With regaid to cheese, TSTessrs Weddel tell me that~t"he demand" for that from New and Canada is quiet, and that prices 1 , if anything, are a shade easier. Stocks of old cheese are geHing into very small compass. New Zealand coloured cheese mny be quoted at 50s to 60s, and white 58s to 595. This week the Xaramea arrived from New Zealand with 6000 crates ; with the 6000 crates on board the Whakatane," which has just left §he colony, it is estimated that the quantity still afloat is about 15,000 crates. The National Mortgage and Agency Company write that the market generally for butter ha? been good, and the demand for choicest qualities from all quarters has been more than sufficient to absorb what is offering, consequently rates are fully ""maintained, which is lather unusual at this -time of the year. "New Zealand butter "has' been arriving in fine condition, and therefore has given great satisfaction, but a large proxsortion of that from Australia has been secondary in quality, has only been saleable at low rates. New Zealand butter is quoted at 605. t0 86s per cwt. MISCELLANEOUS. I Supplies of English -wheat are plentiful, and with a slow demand recont values are barely maintained. The average price last week of 2Gs per Imperial quarter marked an advance of Id per quarter from the previous fortnight, . and Is per quarter higher than at. the same j time last year. In consequence of the lower ! prices accepted for English wheat, inquuy for ! New Zealand sorts has been interfered with, | and Messrs Weddel say that values have an | easier tendency. Tuscan is quoted at 28s to 295; Hunter's or pearl, 27s to 28s per 4961b. i The market is almost bare of supplies^ of New j Zealand oats, and for the small quantities offer- t i Jng more money is asked. ' Good Canterbury Canadians are priced at 23s to 245; ordinary , Bluff," 22s 6d to 23s"6d^ and sparrowbills, 21s | to 21s 6d per 3841b. In the absence of demand for New Zealand beans, values are .nominally unchanged — namely, 32s to -33s per 5041b. ! Tho-London manager of the New Zealand Loan i and Mercantile Agency Company writes that ' the demand fov cocksfoot seed has continued extremely dull, and thinks it is probable that some 2500 to 3000 bags — chiefly seed of inferior quality — will remain on hand at the close of the season. The chief interest is now centred in the new crop, of which no parcels have yet j come to hand, and further business is reported | as having been done at 38s (c.i.f.) for bright ; 181b equality, though some buyers are not pre- ! pared to operate at that figure, their idea of value being some 2s of 3s per cwt lower, i Iti.ihe tallow market a quiet state of things I has prevailed during the past fortnight, and i business in all positions is limited. At last I week's sales, however, Messrs "VVeddel remark that there was something of a spurt, for a good . . demand^was expeiienced at slightly firmer'rates, ' ' and 2570 casks were sold. Appearances then looked as if a revival in" the trade had again i set in, but the improvement was not lasting. ■ j An impression had somehow got abioad that shipments from the colonies in April were j again large, and this made buyers very cautious, I so much so, indeed, that the sales held on ] Thursday passed off very flatly, less than onethird of the 1530 casks catalogued finding buyers. Later in the day, however, the cable advice of the shipments for the last month was received, being the moderate quantity of 3360 tons. This, in face of the expectation that the quantity would be much larger, has caused a feeling of Teliex, and a better trade may be looked for soon. Messrs Weddel go on to-ob-serve that the transactions to arrive continue to be limited, and quotations are 27s 6d to 29s j per cwt for mutton, and 26s 6d to 27s 6d for i beef and mixed (c.i.f., terms). The stock in warehouse on the 30th ult. was 16,751 casks, sin increase- on the month of 2000 casks. • These are Messrs Weddel's spot quotations : Mutton : Good to finest, 29s t0~29s 6d per cwt ; dull to fair, 28s to 28s 6d per cwt. ; inferior, 27s to 27s 3d. Beef: Good to finest, 27s 6d to 28s per cwt.; dull to fair, 26s 6d to 275; inferior, 25s 6d to 265. Also with reference to tallow, the report of the New Zealand Loan and Mercantile Company states that theie was a marked improvement in the demand at the auctions held on the 25th ult., the bulk of the offerings beingcleared at firm prices to 3d per cwt. advance, but at the sales o» the 2nd inst. buyers again I held aloof, and out of 1429 casks offered only 280 were dispose:! of rt the late rates. The attitude adopted by buyers is in large measure to be attributed to the non-arrival prior to the j sale of the customary cable advice of the April ■ shipments fiom the Australasian colonies. ' This has now come to hand, and as these aggregate only 3360 tons there seems no reason why the market should go back. Finest mutton tallow is quoted by this company at 28s 9d \ to 30s ; and fair to 'fine beef, 27s to 28s 3d par ' cwt. i And the National Mortgage and Agency Coni- ' panv tell me that the tallow market has ruled 1 very weak and slow until the auctions of the 25th ult., when more animation was shown, and a laige proportion of the offerings found buyers at firm rates for both mutton and beef. At the sales this week, however, buyers showed little disposition to bid for best descriptions, ! and the tone of the market was weak. Holdeis ! would not accopt the decline offered, which | amounted to 6c! per cwt in some cases, and i quotations therefore remain nominally unI changed. The quantity offered at three mibhc rvctions amounted to 4402 casks, of which 2053 ! were sold. Imrorts from Now Zealand for the I past four weeks have totalled 3417 casks, aparnst 9532 fron? Australia. i This is how Lhe Kuw Zoalai.d Loan and Jlex- ! cautile A£27i3y Corap^ny stato the facts picvailins; in^tlio marlfpl for New Zealand flax 4 — ' "In iaoa of the arrivpl of some 7000 bales frcra Now Zcr.laii'l, representing February shipmento, coincident with a weak market for manila, buyers have hesd back, and when f-alos have beau ure^ed S' considerable decline udou

late rates has had, to be accepted, amounting in some instances to as much as £8 per ton, as cempprod with the rates 'ruling a month ago. With the leport of the recommencement of hostilities in the Philippines, and a falling oft in the receipts of flax at Manila — the figures for the weak endsd 2Sth ult. b,dng only 16,000 bales, as comoare'd with 32,000 bales for the ' preceding week — the market for nianila during ' the last few days has shown more animation, and values have advanced fome £2 per ton, with a hardening tendency. New Zealand flax, in sympathy, is firmer, but in the absence of actual transactions quotations are more or less nominal. The outlook is very uncertain, but should the disturbances in the Philippines — ' which in some quarters, it is believed, have been exaggeiated for political reasons— assume such proportions as io interfere with the cultivation and transport of the fibre, a further period of activity in New Zealand may be anticipated. On the spot good, fair medium may be quoted at about £28, and near ai hand, £27 per ton, c.i.f." For the moment prices of preserved mutton and beef are quite nominal, and there is little, if any, business passing. Packers in most cases are anticipating further orders from the Government, and .therefore they will not sell , at prices quite beyond what the home trade i can afford to pay. As for preserved rabbits, ' the National Mortgage and Agency Company sta,te that the new season's goods are now coining to hand, and both flat and tall tins are in better request. During the past month importations of preserved meats into London have been 2250 cases from New Zealand, and 7618 from Australia. It is from the National Mortgage and 4gency Company 1 hear that for salted New Zealand pelts the market has been exceedingly quiet for the past month, and prices are therefore more or less nominal. It is thought probable that we shall see lower values, as tanners in the United States are finding a- bad market for their finished skins, and say they pannot afford to x^ay current rates for pelts! Here are "the quotations for New Zealand pelts : —Crossbreds, , heavy firsts, 20s to '26s per dozen ; do seco_nds, ; 15s to 17s per dozen: crossbred, medium,substance firsts, 17s to 20s per dozen ; do" seconds, 13s to 16s per .dozen. Merinos, firsts, 11s to 14s; do seconds, 8s to 10s 3d; lambs, firsts, ' 13s "tp lGs per dozen; do seconds, 9s to lls. I . At -the last public auctions of hides -8884 were offered, and 905 found purchasers. There was a. very fair demand, but buyers were only _ disposed to operate at a reduction of £d r>er lb, which sellers would not accept for the best i descriptions. Quotations, ior New Zealand hides are: — Heavy ox, 4Jd-to*4|d; light ox, 4d to 4Jd ; cow, 4jd to 4gd ; -se.conds, 4d to 4|d. The nfxt sales are advertised to take place on the 10th inst. __ j There were no supplies of leather -brought j forward at public auctions. Privately, I hear from the N.M. and A. Company, there -has been a fair inquiry, but buyers have been by no means keen, to operate. Out of 11,000 basil skins put up for ssle very few were sold. The prices bid showed no improvement, and the sales msde privately were restricted. Sheep leather is now in full supply, and the tendency of the market is reported to be weaker. The next sales are to be held on the 11th inst. Although only 735 bales of rabbitskins were offered for sale recently, yet this supply was more than sufficient for the present limited ' demand, only 435 bales being disposed of. The attendance of buyers was small, and the competition we>s almost confined to the home trade. The lot offered included. 443 bales of New Zealand skins, there being several fresh parcels "of the best selection, but with an absence of inquiry i for this class from dressers, little business was' possible, buyers' ideas being fully 2d per lb below February rates. Medium Qualities were about steady, while dark netted and fleshy } skins were saleable at Id 'decline; small, and suckers were decidedly weeker. showing mostly 1M to 2d reduction. Furriers' silver-grey and black were unchanged.