OTAGO FARMERS' CO-OPERATIVE ASSOCIATION (LIMITED).

Otago Witness, Issue 2429, 3 October 1900, Page 34

OTAGO FARMERS' CO-OPERATIVE ASSOCIATION (LIMITED).

LONDON REPORT. The London. Manager of the New Zealand Farmers' Co-operative Association reports to us as follows, uuder date 25th August : — Wool. — Since July auctions business here has been quiet, and inquiries confined to a few bought-in lots, which have changed hands at prices previously current. In the woollen districts, both in England and on the Continent, trade has continued depressed, and manufacturers complain of the scarcity of businesg. For tweeds of the better class demand is not strong, and the turnover lately has been below, a healthy average. It i 3 ifelt that the probable restriction of business in Lancashire consequent on the disruption in China will operate adversely in general trade iii woollens, while the South African trade has been completely, disorganised for some months past, and the lack of confidence prevailing in all branches of the trade continues to be pronounced. Tha consumption is mainly confined to the mediuta and coarser grades of crossbreds, and by tha time the next sales open stocks will have diminished considerably, but on'the other hand consumers will be likely to pursue a hand-to-rnouth policy unless trade improves. Arrivals to date for the next series of sales, to begin on the 9th October, including 97,73S bales New Zealand wools, total 210,845, of which 38,000 bales are in transit. The list will close when 250,000 arriveThe quantity to be available here in October, may be called 350,000, as against 248,000 bales in September and November last yepr.

Sheepskins. — The fifth series of sales was helcE on the 2nd inst., when 3589 bales, including 752 New Zealand, were catalogued. "The attend--ance of buyers was moderate, bidding slow, and? selections of skins poor. Withdrawals were onf. a larger scale than usual, and prices showed a>. decline of Jd to id on merinos, f d on fine crossbreds, and Jd on coarse crossbreds, as cornpareel with last sales' rates.

Grain.— There have been some fluctuations in; our wheat market during the month. For the first half, when the weather was cold and wet, values advanced Is 6d per quarter, but with tha return of the hot weather that was quickly, lost, and now values stand at about the se.Ui©

as'they did at the date of our last report. Supplies aie likely to be short in the near future. From France harvest reports are very unsitisiactory, and in tho noith-west provinces of Amenca there will certainly be only half a crop — indeed it is stated by one authority th?fc 111 America and Canada alone there will be eight io 10 TOilhon qjiarteis decrease on last year's return. The Daily G-iaphic says that -the spell of bad weather in the early days of August has altered considerably the piospects foi English ■wheat-growers, not, so much by reason of the Heavy wetting as by the si^dden change to low temperature and sunless skies. Excessive wet, accompanied by" coldness and want ot sun, came just a3 the bright heat was doing its work in bringing on the final ripening of tho giain, which was then arrested at once. The result cannot fail to afreet seriously the sample 01 grain, and this again will affect prices and markets during the coming cereal year. The two harvests ot 1898 and 1899 were remarkable for the fine quality of the wheat. Probably no living farmer had so small a proportion oi damaged and infeiior for sale from a.ay pievious haivests. • The inferior quality of Home grain "makes us more dependent upon foreign supplies, and the situation in this respect becomes of interest. - A year ago, in the face o£ tlie lessened harvest in the CTmtcd States, the . forecast was that we should find it difficult to obtain so large a supply of foreign wheat 01 flour as in 1898-99. The figures of our supplies for the 11 months of the cereal, year — September, 1899, to July, 1900— show that this forecast has been amply justified, there having been a decrease of 706,981 quarters in our su|3plies of wheat and flour in the' past 11 months. This decrease has not shown itself in tho prices, ?s it should ha^e done, in consequence of good quality and big sales of English wheat from last yeai's harvest. For the coming cereal year, the difficulty of obi lining supplies will be greate v than during the past 11 months, as it is now tolerrbly certain that the world's wheat harvest will be from 200 to ,300 millions of bushels (or 28 io 37 million quarters) less than in 1899. In this case the preponderance of damaged or infeiior English wheat will have an enormous influence in increasing and maintaining values. Tho total quantity of wheat and flour afloat to the United Kingdom 13 now estimated at 2,330,000 quarters as compared with 2,105,000 quarters last year, and the quantity on passage Lo the Continent brings vp 1 the Loial to 3,510,000 against 3,C60,000 in 1899. Aastralirn lots -on passage have sellers at 30s 6d per 4801b, and trayeis ax 3d less. On spot poicelg sre slow

of eale at 31s 6d, snd 32s per 4961b ex store. Of Nsw Zealand some ?3arce-ls on passage nave changed hands at 30s ,ud 20s 3d per 4901b, c.j..f. io idea. And a homely en go 01 f a.q. wheat is oJiPi-ed si 29s Cd io. Sopkmbei-Octc-her shiHHicitt, bin. buyera do not re^poad On spot ther? i^ only a limited demaiid at .203 fid to 3ts 6d for Tuscan, 29s 6d to 30a Gel p er 49611) for Hunter's and pearl. Oats : Key/ 2ietiland arc in fair request at unoltcred prices —viz., 25s to 26s for ordinary Bluffs, a_id 27s to 23s Canadians, per 354-lb, 'c:: store. Dunns arc wo.'lh 18s to 19s per 3361b, ex giauaiy. In consequence of fresh demands icr South Africa, Americans have advanced 3d per Quarter.

Frozen Meat. — The market is extremely depressed, the return of the hot weather haviag quite destroyed what slight improvement there was, and prices. are agsin? con«iderably lower. Supplias of mutton ptid. lamb ate hesvy. All the stores being full, md it is e^timnted Ihfit nrrivS'iS' of pheep alone ihis month will amount to 016 000 carcases. With the present hot weatiicr, Email joints alone are required, and heavy caicases, whether mutton or lamb, s>ie at a dpciued discount. Best Canterbury mutton lias declined quite 6d 011 the month. C-rcocl weigliis sell slowly at 2s 2d to 2s 3d per stone. Heavy sheep are difficult to sell at 2s. Consideiable interest is take.a in the brial shipment of several bullocks whole, but without their heads, by the steamer Southern Cross, which sailed from Buenos Ayres on August 5 for Liverpool, and is expected theic at the end of the month. The meat is preserved in a special chamber by mcins ol sterilised air, £>nd the appearance after seven cloys 011 boird was very satisfactory. Lnmbs: Light carcases arc in fair request, and show a decline only of Id per stone. The present rate is 2s lOd to 2s lid ior the veiy best Cantmbxuys. Heavy weights are hard to sell pt 2s sd. Beef : Values maintained, although American cmiled is somewhat easier. Foreouarters make 2s to 2s Id, and hmds 2s Sd to 2s"9d.

Butter. — The market has hardened, and freshest Danish and Swedish arc Quoted 122s and 1255; extra mikl NOl mandy, 310s; ancl orclinaiy finest, 106^ per cwt. Choicest creamer? from Canada, lOBs to 130s; and United States, 93s to 101s. .Last sei^on's imporfcaiions of A\\%tral.^.sian butter into the United I'nigdom i& stated to be 25,000 t6ns, bcißg an inciease of 11,000 tons ever the previous year. Cheese. — 3larket active, and values hardened, although +ho stipply of nev: English is increasing. Choice Canadiar, which made ( Ss to 19s a month -ago, is now worth 52« to 545. For coloured and white New Zealand i? inquired for, and is worth 56s to 5Ss per cwt. iii good condition.