NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2524, 30 July 1902, Page 9

NEW ZEALAND PRODUCE IN LONDON.

(Fhom Our Own Correspondent.) June 21. WOOL. I am told by the New Zealand Loan and Mercantile Agency Company that since the close of the third series 01 wool sales no fresh features of importance have occurred as regards the raw material. The position of the market on the whole is healthy, and prices, though showing a. little unsteadiness for crossbred produce, are generally maintained. Consumption continues to be upon a large tcale, though complaints arc rife that users are disinclined to stock against future requirements. From the Continent re- . ports indicate that manufacturers are generally •well employed. The National Mortgage and Ag-cucy Company write saying that it is estimated "that about

221,000 bales of wool were disused of at the 'last sales, 110,000 bales being taken for export,

including about 3000 for the United State*. 'Since the c!o3e of the series transactions in the wool market have been confined to the clearing out of a few -withdrawn lots, and the maiket generally is much in the same position as it was then. In the manufacturing centres the business in wool and lops has been somewhat slow, as users are still resisting the higher level of values demanded ; but holders are very firm, particularly for merinos and fine crossbreds,

which are considered to be in a strong position owing to their piobable scarcity toward the close of the year. The limit of 300,000 bales 01

new arrivals for the fourth series of pales was

reached on the 14th inst., and the list was accordingly closed on that day. lam told that

the total quantity tuailable, after deducting direct forwardings and adding old stock, and 217,500 bales, New Zealand being represented by 110,400 bales. For the fifth series of sales the arrivals to date aie 12,226 bales, 10,896 being from New Zealand.

NEW ZEALAND MEAT,

It is stated by the New Zealand Loan and Mercantile Agency Company in their !ate a t report that the demand for all descriptions of frozen mutton during the past three weeks has been slow, and in consequer.ee values ha\e ruled easier, prime Canterbury mutton being to-day worth from 2s 8d to 2s lOd , Dunedin and Southland, 2s 6d to 2s Bd , and North Island, 2s 4d to 2s 6d per stone. Holders of lamb have ehown a disposition to press sales, and with a by no means active demand, values ltile in buyers' favour, especially for Canterbury grades. Prime Canterbury lamb is new quot-d at from 3s to 3s Id, and North Island 2s 8d to 2s lOd per stone The market for berf has been inactive, and with a large quantity of River Plate offering lower prices have had to be accepted for New Zealand beef; hindquarters now rule from 2s lOd to 3s, and forcquarters from 2s-*d to 2s 6d per stone. ?"or New Zealand rabbits, the National Mortgage and Agency Company teil me that the demand has been fairly good until the present week ; but the warmer ■weather has =et in, and there is the usual falling off 111 requirempnts. Amvals have included about 6100 from New Zealand. The following are the curient prices for reliable brands of New Zealand rabbits —Selected, 3lb and up, Sd ea<;h ; large, 2Mb and up, 7d to 7\d, young, 521b to Q\lb. about Gd.

Messrs H. S. Fitter lemark that there hns Lsen no heavy supply of Xew Zealand mutton, but the demand has not been good, and prices are weaker. The improved demand for New Zealand lamb is being more than balanced by the recent heavy arrivals, and owing to the anxiety of some of the holders to realise prie s are decidedly weaker. " This," remark Messis Fitter, "'is most vn r orttinate, and we see no reason why it shou'd be to. Some people, no doubt, are afraid of a collate -Mtr-lai to that cf Jubilee year; but wp do not shsre that fear. Taecau^e this year the Lmibd are muc^ 1 moie eizeable, and ought to sell ieadi!\ ' lhf> demand for frozen beef has improved on account of the shortage of American beef, but prices have not advanced as might have been expee.cl. Messrs Fitter's quotations are — Xew Zialai.d •mutton (Canterbury), 3|d to 4Jd; WeHireton, 3^d to 4d; Canterbury lamb, 4id to -(Jd , Vellington, 4^d to 4 J el. rn'nd-qunrtcr« New Zeiknd b«ef, 4ld to l%d , fore quarters, S^d to Id per

JIISCTL^'XEM'S

Tim Xew Zealand Lean and Mercantile Com- [ pany say that heavy arrivals of grain and 9 by no means brisk demand have e-xercised a depressing effect on the wheat market generally, and values for targoes must be quoted 6d to Is : p^r quarter lower, the spot dem.md. for the j came r?t'on, also being very dull. Thcie P r e 1 J 1 r/.its <t brs'is Fc. cocksfoot the rr^rkc' is er.'.d to be very stioi-.g, and cor.s'd''nb!o Lusi- 1 nn rSSr S5 cc.-'d be done at -ip to 49~< pe-- cv.t, c 1 f., for 1 171b seed. Oiiexe of the betiei tracics, liowever, ]

have of late been restricted, while sellers have raised their quotations for mfenoi sorts, and this retards business, aad many buyers, in. the circumstances, will now await the result of American crop before operating.

With refeience to tallow, the National Mortgage and Agency Company report that at tho last three auctions there was little inquny, fine mutton bcTng particularly dull, and a, drop of 9d to Is per cwt failed to promote much business. Medium qualitiss weie in moderate demand, but value 3 showed a reduction of 6d to Is per cwt. The chief inquiry for arrival is for distant shipments. The latest quotations gnen for New Zealand tallow are —Mutton — Good to fine, 34s 6d to 39s per cwt ; fair to good, 29s to 32s 6d ; common, 28s 6d to 325, ■ow and mixed, 27s to 28s, beef — fine edible, about 355; good to fine, 32s to 34s 6d ; fair to gcod, 28s 6d to 31s; common, 2^s 6d - to 28s 6d. The New Zealand Loan and Mercantile Comppiiy remark -that the bulk of the offerings at the "public sales of tallow during the last three weeks have been bought m, sellers for the most pait declining to accept any reduction upon late rates. For the rext few weeks, as is not unusual at this time of the year, it seems likely that a quiet market will be experienced, but m view of the shortage in Atistrahan supplies, the outlook may bo regarded as favourable for an early resumption of the demand. The New Zealand Loan and Mercantile Agency Company inform me that a dull tone has characterised the market for Sax, buyers restricting th"v purchases for the most part to actual requir;ments New Zealand ilrx, in cjmpathy with that from Manila, has ruled weak, aad with some forced sales on the part of secoi.d hand holders and ' bears" values have marked a sharp decline. To-day's quotations are a? follows, but biiyers show httie disposition to operate even at the reduced level cf values • —Spot has to-day been done so low as £29, ar>d parcels due to arrive tins- week *28 15s. and June shipment .£2B 10s per ton (c.i.f.). Aft°r noting that Manna flax shows «v leduction of frcTm £2 to £2. 10s per ton, the National Mortgage and Agency Company say that small parcels of New Zealand flax on ths spot and in dock have sold at £14 down to £3J per ton. and for arrival the sa'ss amount tc about 300 tons ; declared, £32 10s per ton , May, £30 10s to £30, June, £29 per ton, August-September, £26 per ton. In May, 198 tons were landed ; the dehverieb amounting to 154 tons, the stcck to 384 tons, while last year it was 295 tons.

With regard to other i*ems of New Zealand p.oduce, I hear from the National Mortgage and Agency Company that, heavy New Zealand pelts, especially those of best quality, are still being bought by splitters here at firm prices, but the market in tho States is very quiet and disappointing, so that the juarket generally is noi' quite so strong as it was. Pelts of secondary quality axe rather easier in price, and in only moderate request. Lamb pelts continue ■:o sell at about last season's lates. Quotations are unchTged.

It is thought that the arrivals of rabbit skins for the next sales will probably total 1800 biles, chiefly, however, from Aus:ralia. The nrw season skins are likely to be well received. The sale will take place on the 4th prox. Values for leather are veiy firm. Supplies of basils continue m small compass, and prices are steady. Out 01 1160 h'des offered at the last sales 650 were disposed of. Heavy New Zealand ox is quoted at 4Jd to 4Jd per lb ; light ccw at 4d to 'Ijd ; cow, 4d to 4jjd ; seconds at 3gd to 4id per lb.

DAIRY PRODUCE.

The. National Mortgage aid Ageucy Company Fay that values for Xew Zealand and Canadian cheeso have receded. D?rua,rjd for new Canadian has been fairly good, and supplies have been leadily absorbed. New Zealand cheese is quoted in this report a* 52s to 5Gs per cwt, th" latter bei'^g also the top price fo Canadian cl"»»se. The New Zealand Ijoan 9i d Mercantile Agency Compmy note that New Zealard ch'-e=c has been mo* c o: less neglected, the quotation give,n being s'>s to 51s per cwt. Messrs AVcdJel also pay that old New Zealand tr>cc>=e l" 5 making from 50: to 54s per cwt. In ihe Glasgow market, I hear from Messrs Mathie and M'William. New Zealand cheese continues to move quietly but Fteadily :nto consumption. Cclouicd cheese 1; m better elemand, but the s'ipply of this class is restricted. White chev.'ie is more difficult to move, ard the storks in lmpoitei"' hdiidb .ire pTiiifip .lly of this kind. Hie qi.ctdtion for New Zealand cheese is gn en as 55s to 5Gs The C.C. and V. Company tell me thi>t the Xew Zculaud cheese brouaht by the Puijaioa nas bc'n diaggmg, wAh prices gradually declining The arr.val by the Kumara is now m dork, and the C.C. and D. Company cxjro=s the fear that it will not clear ■very rapidly unless a considerable leduction in pure 11 made. Strictly choicest No. 1 grade is quoted heie at 53s to 545, and other grades at 48s to 51s. The C.C. t>nd D. Company also note th-ut there has been some demand for X«w Zca.'jiid butter, ex cold store, during the l - a--.t few days, but very little has been obtainable