NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2437, 28 November 1900, Page 15

NEW ZEALAND PRODUCE IN LONDON.

n?BOM Otra Own Cobresfondent.) LONDON, October 12. From Messrs Charles Balme and Co. I hear ■that the fifth series of colonial wool sales for the present year opened on Tuesday evening with three catalogues, totalling 11,571 bales, to which New Zealand contributed 7173 bales, Victoria heading the list of the Australian colonies with a total of 1148 bales. Messrs Balme write that although there was a very large attendance of buyers from all quarters, competition was confined amost exclusively to the Home trade, which operated freely in both fine and coarse wools. As compared with the rates current at the close of the July auctions, Messrs Balme quote: — New Zealand and Australian merino wool, 10 to 15 per cent, lower ; fine crossbied, 10 to 15 per cent, lower; coarse crossbred, unchanged. South African produce is said to be lower to the extent of 10 to 15 per cent. The net available supply for the series, including old stock totals about 366,000 bales. There have been no arrivals of New Zealand sheep this week, the C.C. and D. Company inform me. They proceed to remark that, trade has been very quiet, this week remarkably so. The higher prices demanded have much checked; the 'output,' and 'deliveries at Srnithfield get smaller and. smaller week by week. Several large buyers are now taking River Plate" mutton, instead of their usual supplies' of New Zealand' sheep.' Hblders continue' very firm, and this week they are seeking a further rise, many of the best Canterbury sheep being now held for 4|d per lb, which, so far, is but seldom obtained, though a sale is reported of small choice weights at 4yd per lb Sales of fairly long lines have been made at 4Jd per lb for light and medium weights, heavier sorts at 3|d per lb. Very few Dunedin and Southland sheep have been put on the market. North Island mutton has* made from 3|d to 3|d per lb, while small, fresh, bright carcases are reported to have touched 3|d per lb, but the numbers sold are comparatively small. The continued long spell of fine and bright weather has favoured the lamb trade, and considerable numbers of lambs from New Zealand are said by the C.C. and D. Company to go into consumption; deliveries last week were very heavy, considering the .time of year and the competition of game, poultry, and pork, all of which are plentiful. This week' the demand has boon hardly so good, but prices keep up well, and'for any really choice and small weights 4|d to' 5d per lb, can, be made; for mecUunv

weight Canterbury lambs about 4'd per lb, and heavier 4Jd to 4gcl per lb is obtainable. | It is reported this week by the C.C and p. Company that a very poor trade is" doing in beef, and as a result frozen beef feels Ihe ' general " depression ' more acutely .than other •' meat doeS. Sales kave been small and -values S-Tathfer-- easier. New Zealand hindquarters have ' sold at 4Jd to 4gd, and foreguarters at 3d to 3-kl < per lb. . , „« - October 20. wool. I Writing in the early part of the week concerning the present series of Wool sales now proceeding, Messrs Balme said: " The result j of the atietions has go far been what was an tic iI pated, judged by the course of business in the manufacturing districts . during the past two months. Owing to the restricted state of ctecut on the Continent, consequent upon the recent financial troubles in the North "of France, the operations of foreign buyers in the saleroom are conducted with great caution, the market being made by the Home trade— particularly Bradford, — who are not overburdened with dear stock as is the case with Continental buyers. Prices for New Zealand and Australian merinos ' have declined in average to the extent of 15 ■ per cent., the depreciation being smallest on < super scoured 'wool, and greatest on faulty J descriptions and heavy greasies. The coarser ! growths of crossbreds in the grease meet with | a good demand, and realise last sales' closing .j rates. The medium qualities, however, fall _ "j short Of that level by 7J per cent., while the finest grades sell irregularly ' at a decline of 15 per ceiit. The finest qualities of scoured crossbreds and slipes are also 15 per cent, lower, while in medium and coarse parcels the depreciation does not amount to more than 74 to 10 per cent. ' Yesterday Messrs Balme sent me their latest report, which, is worded $ms: — "The saleroom ( I continues to be well attended, but representa- j j tives' of the Home trade do not compete for ' merino wools so keenly as during the first week ' of the auction?. On the other hand, Conti•i nenta-1 buyers have recently somewhat increased. ■ j the_ seals of their operations, but not to aj sufficient extent to compensate for the eontracj tion in demand from the English trade. .In these i circumstances, values for merino wools ha-ve ! gradually softened, and now stand in average i 5 per cent, below the level established at the opening of the series. The weakness is most pronounced in medium and inferior grease as ' well as in scoured wools generally, which sell very irregularly. Superior greasies meet with a better reception, but at prices which reflect the easier tone of the market. The finer growths of crossbred ' produce have slightly given way, but the medium and coarser grades ' j in the grease have not been affected by the i malaise which has overtaken the demand for ! merino wool — indeed, 'quotations for these de- | scriptions have somewhat hardened, and now ] stand fractionally above those current at the j outset of the sales, while " such parcels of ." medium quality as are suitable for the Ameri- ] can trade realise some 5 per cent, above- July j values. The position of scoured crossbred wool i and slipes has not materially varied since the close of last week." In their account of the present series of ■ sales, the New Zealand Loan and Mercantile ' report notes that at the opening of the fifth series of wool sales 'on the 9th inst. a further decline in the case of merino and fine crossbred of 10 to 15 per cent, and in medium crossbred of 7£ to 10 per cent, took place, coarse descriptions of the latter ruling about on a j par with July series closing rates. The tone of the market since has been week, and in the case of scoured and inferior greasy wool prices have tended in favour of buyers. The bulk of competitipn has come from the Home trade, ' Continental buyers operating only sparingly. } So far the bulk of the catalogues have been ! fairly well cleared, but the position as regards any improvement in the near future does not seem by any means hopeful. NEW ZEALAND MEAT: According to the latest market report of | Messrs H. S. Fitter and Sons, the price for ! -New Zealand mutton continues to rise very | steadily, but the demand, they say, is not good, i and it is only Uy keeping the market very short j that prices are 1 maintained. There is a gooddeal of dissatisfaction among buyers at the { rise in price, and many of them are now said ' to be going in for Dutch mutton and English ewes. As for New Zealand lamb, I hear from Messrs Fitter that there is very small demand. A few carcases make good prices, but those that are left on the market have to be sold at a great reduction. Jt would be a good thing for the lamb trade of next season if the market was' now entirely free of New Zealand lamb, for buyers would then purchase much more j freely. There has been a very fair demand j for forequarters of frozen beef, but hindquarters j i are now selling rather slowly. Messrs Fitter further report that, in consequence of the- : scarcity of pork. New Zealand .pigs are making very good" prices. This, however, they consider, must be regarded as somewhat excepj tional, and could hardly be expected to keep i the same level every year. Here are Messrs Fitter's qiiotations : — Canterbury mutton, 3|d to 4Jd per lb; Wellington mutton, B|d to 4d per lb; Canterbury lambs, 4|d to 5Jd per lb; ' Wellington lambs, 4£d to 4|d per lb ; New Zealand beef — hindquarters,, 4Jd to 4Jd per lb; 'forequarters, 3§d to 3id per lb; New Zealand pork, 4fd to 51d per lb. Concerning New Zealand lambs, I hear from Messrs WeddSl that arrivals have numbered 15,250 carcases. There is little, if any, change I to record in this department during the fortI night. A continuance of the colder weather has kept the demand at a low ebb, but the effect of this on prices has not been so marked I as might have been expected, owing to the smallness of stocks. Messrs Weddel quote | best Canterbury lambs of 28-3~61b weight at 4fd i per lb, and 36-441b at 4|d per lb. Heavy carj cases cannot be quoted' at more than 4£d per lb. Secondary quality New Zealand lambs do j not realise more than 4Jd to 4fd per lb for 1 small weights, and down to 4d per lb for heavies. Sales of New Zealand beef have not been numerous, but quotations are practically un- , changed at 4|d to 4|d ger lb for Mild-quarters,

according to quality, and 3Jd per lb for forequarters. Messrs "Weddel give 14,943 quarters as the arrivals from New Zealand. ! While the demand during the past month for New Zealand mutton has been anything but good, writes - the -New Zealand. Loan and , Mercantile Agency Company, prices have ad- : vanced slightly owing to the anticipated light arrivals. l Prime light Canterbury sheep are | scarce, and realise from 2s lOd to 2s lid per' stone; secondary and Otago and Southland j > sheep are quoted at 2s 8d to 2s J.od ; and North j Island at 2s 6d to -2s 8d per stone. Although I the lamb season is practically over, there is . still some parcels "offering, and_ these are realising good, prices, 3s 3d to 3s 4d per stone being j obtained for nice 'light-weights. The beef trade i for the greater part of the month is reported ; by the N.Z.L. ond M.A. Company to have been j very dull, with a drop of Id to ad per stone on j New Zealand and Australian beef. Prime '• New Zealand hind-quarters are said now to be i woxth not more than 2s lOd to 2s lid, while j fore-quarters are quoted at 2s 2d to 2s 3d per stone. Canterbury sheep are said by the National Mortgage and Agency Company to^range from 4|d to 4|d per lb for prime, quality of 48-641b i weight, heavier carcases being quoted at about j 4d per lb. There are veiy few Dunedin or ' Southland sheep offering, and those from the j Nortlj.-Island are v quoted at ogd to 4d, according •to weight and quality. Inferior sheep and ewes meet with a ready sale at 3£d per lb. Although the demand -ioi lamb continues to fall off every week, the 'National Mortgage and Agency Company write that the stocks are now getting into such small compass that values have not suffered, and holders have even been able to obtain rather firmer prices, in sympathy with mutton. Best Canterbury grades of lamb J range from 4|d to 5d per lb, and other sorts about 4^d to 4|d per lb, according to weight. MISCELLANEOUS. I Messrs Weddel quote New Zealand wheat at .nominal rates, and remark that although sellers are prepared to accept 6d per quarter less money, buyers hold aloof, and only retail quantities find purchasers. The National Mortgage . and Agency Company tell me that New Zealand and Australian~wheat on spot, is sharing 'the general depression at present in existence, and in ordei to sell prices must be quoted flower — namely, 31s for New Zealand Tuscan, and about 30s for Hunter's and pearl. .New iZealand oats are reported to be, scarce,, buo. nominally 6d cheaper. The National Mortgage" and Agency Company's report says that cocksfoot meets with a little more inquiry at 33s to 34s per cwt, ex store, for old 17-181b New ' Zealand seed, and at 355, c.i.f. in London, for j new seed. The New Zealand Loan and Mcr- ' cantile Agency Company says that the market " for cocksfoot has been quiet, while the ten- ■ dency of valuea has been in favour of buyers. I Sales of 17lb to 18lb' seed have been" effected i at from 33s to 34s -per cwt.' ' From Messrs | Weddel I_hear that New Zealand beans are in ," fair request, and firmly held at late rates; 1 also that a good inquiry has been experienced j for New Zealand peas, for which fair prices I are obtainable— viz., fine quality " seed " peas have fetched up to 50s, and " maples " 38s to 40s per 5041b. " * With reference to tallow, the following are ' Messrs Weddel's spot quotations, per cwt, for tallow:— Mutton: Goody to finest, 27s 3d to 28s; dull to fair, .26s to 26s 6d; inferior, 25s to 25s 6d. Beef: Good to finest, 26s 6d to 27s 3d; dull to fair, 25s 9d to 265; inferior, 24s 6d to 255. , | [Reviewing the position of the tallow market \ for the past month; the New Zealand Loan and Mercantile Agency Company consider -that it has been satisfactory on the whole, values hay- , ing, until this week, been in an upward direcI tion. At the sales held on the 17th unusually ; j heavy supplies, ,they -.say, were brought for- j | ward, and this circumstance, in conjunction j with the fact that, owing to a strike among the lightermen, considerable -uncertainty prevails : as to the possibility of promptly dealing with purchases, caused the demand to be somewhat , slow, and the bulk of the offering was with- ! drawn. For the portion sold, preceding week's | prices to 3d per cwt decline were paid. This ! j firm quotes fair to finest mutton tallow -at 27s to ; '28b, andiair to^fine beef at.26s 3d to'27s 3d per cwt. { The London Manager of the National Mort- • gage and Agency Company gives in his report ] for the outgoing mail, a total pf 9767 casks of j tallow as having been put up at four different ] auctions ; of this quantity some 6074 casks were disposed of. Supplies offering, I am* told by ! this firm, have been ample, but there ', has been a good demand, and - prices ' generally show an advance -- on the j month. The best qualities of beef tallow have met a free sale at very full prices. At the I sales this "wjeek, however, values were mainj tamed with difficulty owing to^the quantity ! offered being in excess of requirements, and 1 in some cases a concession of 3d per cwt had ; to be made. The shipments from New Zealand and Australia during September were ad- j vised as 2200 tons, as compared with 3787 tons \ for the same month last year. Imports for the . 1 past four weeks amounted to 1638 casks from j Australia, and 2794 casks from New Zealand, i Stocks of all sorts in warehouse in London on i the 30th tilt, were 29,717 casks, as against 27,630 casks the previous month, 15,070 casks in 1899. > and 27,065 casks in 1898. -"* With reference to New Zealand flax I learn from both the New Zealand Loan and Mercantile Company and the National Mortgage and Agency Company that the market during the past .month has fluctuated 1 considerably: The former' firm -states that- after "marking a .decline of some 30s to 40s per ten", it closes firm at" -SlB 10s to £18 15s per ton foi good, fair, medium flax, and now that arrivals are. likely to -show a considerable falling off provided Manila remains firm, there seems no reason why -New Zealand flax should not show a further improvement, thus bringing if more in line with the usual difference in the value of the New Zealand product as compared with Manila than has been the case for some considerable time ] past. The National Mortgage and Agency Com- j pany say that prices for New Zealand flax have recovered tc tho extent of 30s per ton. Spot sales amount to about 560 bales at £17 10s to £18 10s per ton (c.f. and i.^ for good to fair*

and per ton for fully good fair. No sales for arrival have taken place, but there is leported to be some inquiry from near operators for October-December shipment to close transactions. The National Mortgage and Agency Company supplies me with -the following quofetions for New Zealand flax:— Superior, soft, and bright, £19 5s to £19 15s per tdn; good inedmm, well dressed, £19 to £19 5s per -ton • Jair medium to medium, £18 to £18 15s per ton - fair medium to medium, ra-ther strawy, £18 to £18 10s per ton ; tow, £9 to £10 per ton Prom the C.C. and D. Company I learn +ha 6 the sudden rise in the butter market has enabled merchants to clear their, stocks at very satisfactory prices, as the supply of the choicest .bturer is not equal to the 'demand: The' quality of the Australian butter, they remark, "at present is superior to that from New Zealand, fcmt we feel sure as the season advances the latter will send butter of the usual high standard, it is rather interesting to note that the imports from Australasia during September 1900 and 1899, were about 10,009cwt, whereas during the same period of 1898 there were no arrivals. To-day's values are 104s, 112s, and 965, 107s respectively." Judging by the hi^h * prices that have beeji given for New ZealaSd cheese during the coming season, buyers are said by the C.C. and D. Company to have eyeiy confidence that the market will continue a i, about this level for some weeks * am told by the. New Zealand' Loan ami Mercantile Agency Company that, with the heavy supplies of Home and Continental butter to compete with, the demand for New Zealand and Australian butter at the beginning of the season ruled extremely quiet, while values were some 16s to 18s per cwt below the opening prices of last season. A more healthy icn£ Jiowever, has been experienced during the past three weeks for most descriptions, particularly in the case of, colonial butter, values for which have improved. ' Finest' Australian butter '9 now making from 110s to 112s: good to fine 96s to lOSs per. cwt. ... Four weeks ago, say" the National Mortgage and Agency Company- in their report on the market fpr butter, the deirfarld was very slow, but a much .better tone has ruled during the EasA, three .weeks; the demand has been good, especially for Australian and finest Danish. . It is to the National Mortgage and Agency : Company that I am indebted 'for. information j regarding each o£ the following articles of proI'duce. irom ..your colony": : rabbits have I been in good demand during the "past month, I and large quantities have gone into consumpj tion, with firm price's ruling. - The arrivals, however, 'have been very heavy, amounting to 61,960 cases from New Zealand, and 38,900 cases from Australia, and at<the close there is a general feeling that supplies are in excess of reqiiirements, and although late rates are Still being obtained, values have a weaker tendency. "Current prices for New Zealand rabbits are: Selected 31b and up, ,9id each; large, 2§lb to 31b, B|d"each; young, 21b to 2£lb, 7d to 7£d each. Quotations for boiled beef are in buyers' favour, and "sales as low as 25s and 25s 6& j c.i.f. for future delivery are reported. This j tends to unsettle the market," but parcels near I at hand would probably be worth 27s to 28s landed. There are rumours of Government orders, which will no' ddiibt have the effect of ( raising jprices; s?here 'is no corned beef or , mitKon offering. Preserved rabbits are light. , During past four' weeks 1387 cases of pre- . served meats have been received from New j Zealand. j For the past month the market for salted New Zealand pelta isTeported by the National Mortgage and Agency Company to have re- , mained practically -unchang-ed, and a quiet , trade has been done at -the- following quotaj tions : — ;Crossbreds, heavy firsts, 17s -to 27s per dozen; do ends, 12s ••to- 16s y do "medium subj stance, firsts, 15s to 17s ; -do seconds, 10s to 13s ; merinos, firsts, 8s to- 11s-;; deseconds, 6s to 8s; ; New Zealand ' lambs, firsts, 12s to 16s ; do seconds, 8s to 11s. J The next sales of woolled sheepskins are ad- ! vertised to take place on the 25th and 26th inst., when it is 1 expected that the large quan- . tity of about 5000 bales -will be oSered. A.i the l&st sale of basils 7250 skins wero offered, and I hear from the National Mortgage "and Agency Company that all we*e cleared. There was a good demand from me Home ! trade for all selections, and satisfactory prices 1 were realised. On the same day, out of 810 I sides of leather put up for sale, 166 sides were sold. New Zealand offerings realised fair prices. I During the past month there has been more 1 inquiry for hides from all quarters. Quotations I are: Heavy- ox, New Zealand, 4Jd to 4§d; I light ox, 4& to 4|d; cow, 4d to 4|d; seconds, I 3|d to 4d. On the 12th inst. a sale of rabbitskins was held, when 1338 bales were disposed of out of a total of 1402. New Zealand skins (290 bales) ' comprised a small proportion of the offering, I and -were of a mixed character. "Winter skins were scarce, and sold under competition at firm values to an occasional advance. Outgoing and ' , summer were slow of sale, and went .in buyers' favpur. Small skins, and suckers met.a special [ demand, and improved to Id per lbl Butcher I collections were much in evidence, and brought I full prices in the various grades. Silver grey and black, of furriers' -selection, were scarce. I The next auctions were advertised for December 7.