NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2454, 27 March 1901, Page 7

NEW ZEALAND PRODUCE IN LONDON.

(From Our Own Cobresfondent.) LONDON, February 8. WOOL. To-day I hear from Messrs Waddel that the current aeries of wool sales — the first for the year — will be brought to a close to-morrow, the 9th inst. In consequence of the funeral of the Queen no sale was held last Saturday. Reviewing the series just about to close, Messrs "Weddel write — " Prices for merino wools at the outset generally showed a rise of 5 to 1\ per cent., as compared with the closing rates of the October auctions. After the first week or so, however, there was a distinct relapse for all classes, with the single exception of the best grades in grease, which resulted in the loss of the improvement leported at the opening. At these values sales progressed steadily till the last week, when the tendency, if anything, was towards slightly higher prices ; but there was no actual quotable change. Broadly speaking, the values of all ordinal y grades of greasy thus close at about November rates. Scoured wools fared much the same. " Crossbred wools have not varied to quite the same extent as merinos, the finest grades on average having sold at par to 5 per cent, above last sales' ratas ; ' while medium and coarse descriptions, which at the outset were about equal to previous quotations, have fallen away about 5 per cent., and on this basis sold steadily at the close. There has been some competition on the part of American buyeis Eor bright, light, middling soils, and for suitable ' lots extreme prices have been paid, but Ihe quantity so taken has not been large. Fmehaired shpes have been in good demand at rates slightly m excess of October prices, but medium and coarse kinds have fallen away *■ good 5 per cent." NEW ZEALAND MEAT. Receipts ot New Zealand mutton continue to be moderate, the total for the past two weeks having been only some 23,000 carcases. Messrs Weddel tell me that uo improvement in the

demand has taken place, and sales arc slow. Ihei-e has been a slight drop in quotations of heavy-weight sheep, particularly m laige Canterbuiys, ths continued high level of values for which is causing the usual operators in this class of mutton to use North I&land sheep, or else Australian and River Plate heavy sheep m their place. 1 hear from the C. C. and D. Company that there have been no animals of New Zealand mutton during the week; no vessels are dischaigmg, the Paparoa and Mauian both havirg finished on Friday, a laTge part of each vessel's cargo going into consumption so scon as landed. Last week trade wa3 much restricted. Fuday's deliveries, usually by far the largest of the week, were not equal to a bad Saturday's, and even then the bulk of the sheep pni on the market was not required— could not find buyers*, and had to be returned to the stores. Retailers, being apprehensive that closing of shops on Saturday woiild stop business, laid in light supphfs, and in m»ny cases, with the -unexpectodly brisk trade on Friday eveniag, they found they had not enough for the demand. In common with most other things, there was a sharp spurt on Monday, and a livelier business than has been seen for weeks past , but with the improved demand there was no advance in values. Since this spurt trade has relapsed into its former listless state, and prices seem inclined to droop, the be3t weights of Canterbury sheep selling at 4|d per lb; heavier 681b at about 4|d, and 70lb and upwards al 41d per lb ; 551b to 641b Dtmcd>n shepp make 4|d, and North Island about 4^d to Ifd per >b. Very few New Zealand lambs are available, but any coming on the market make from 6d to 6id per lb. The C. C. and D. Company further report that there has been a great run on River Plate mutton, so many buyers now taking it in preference to New Zealand that probably very little of the large imports of January — 212,010 carcases — are. still on hand. Prices m London are <l|d per lb for the heaviest, 4d for medium, and 3Jcl per lb for smaller carcases. Trade in frozen -beef is said to have shown a slight improvement this week, with rather more demand, especially on Monday, when a corcs.derable quantity was sold, but at rather easier rates. DAIRY PRODUCE. Messrs Weddel tell me that there has been a- fair trade all this v eek for New Zealand and Australian butter. At the beginning business was slack, but it has improved as the week progressed. There is more unsalted Australian butter on the market than can be absorbed, and prices are consequently about 2s to 4s per cwt below salted butter. New Zealand butter makes 108s to 110s, with 112s for special lots. " Finest "is quoted at 100s to 104s. There is a very good demand "or a 923 to 9Cs table butter to retail at Is per )b, but there is very httle Australian or New Zealand butter to meet requirements. New Zealand cheese has this week been meeting a fair market, especially " choicest " white, which is quoted at 52s to s'ls, while " choicest ' coloured is making 51s to 535. The geneial quality of New Zealand cheese is very good, and is giving great satisfaction. Some of the ' finest " white is said by Messrs Weddel to be even better than the Canadnn now left m the market. In their report on the Glasgow market. Messrs Mathie and M'William inform me that choicest colonial butter is not so firmly held, and holders are more inclined to meet buyers in order to avoid any accumulation of stocks. Choicest colonial butter in the northern market is quoted at 108s to 110s per cwt, and finest at 104s to 106s. New Zealand cheese is coming to hand more freely now, and its quality is fine Messrs Mathie and M'William say, however, that owing to the high prices the sale of New Zealand cheese is somewhat restricted at present, the quotation being 54s to 56s per cwt. The C.C and D. Company reports that New Zealand butter arrives in exceptional fine Quality pnd condition. Quite a large quantity of the best brands ex Paparoa have sold at ]10s, with a few at 112s. Ordinary finest has been fetching up to 104s to 10S. " Milled " has realised 90s to 98s, according to quality. Referring to New Zealand cheese, the C.C. and D. Company say that in a ftw instances some of the factoried have been slightly off colour and flavour. Factories making a coloured cheese would find it to their advantage to make the colour a little more decided. MISCELLANEOUS. There has been very little inquiry for New Zealand wheat, Messrs Weddel say, but values are unchanged. The supply of English wheat has been more plentiful, but much of it is in defective condition. . The demand is quiet. The average price last week of 26s 7d per Imperial quarter marked a decline of 4d per quarter from the previous fortnight, but was lid per quartpr higher than at the same time last year. Stocks of New Zealand oats are, I hear, very limited, and prices are firm at first quotations — viz. : Good Canterbury Canadians, 27s to 28s ; ordinary Bluff, 255, sparrowbills, 23s to 23s Gd per 3841b. Duns are quoted at ]7s 6d to 18s 6d per 3361b, and Danish at 17s Gd per 3201b. Now Zealand beans are quiet, but fiimly held at late rates. The Mamari has arrived from Port Chalmers with 172 sacks of seed. Referring to tallow, Messrs Weddel write that since the 21th ult. the market has been in an extremely quiet state, and very little business has been done whether on the spot or for arrival. Statistically, the market is in a fairly strong position ; the fact, however, remains that business is very difficult. At the public auctions last Wednesday theie was rather more demand than for some weeks past, but prices were 3d per cwt lower for mutton, while beef tallow was 3d to 6d per cwt lower. The shipments during January were 4200 tons against 2745 tons the same month last year, and the stock in warehouse on the 31st ult. was 20.255 casks, showing a reduction of 2740 casks on the month. The following are Messrs Weddel's spot quotations per cwt for mutton tallow. Good to finest, 28s 3d to 29s 6d ; dull to fair, 27s 6d to 28s; inferior, 25s 6d to 26s 3d : for beef — good to finest, 27s to 28s Gd . dull to fair, 26s 3d to 26s 9d; and inferior, 25s to 25s 6d.