NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2527, 20 August 1902, Page 9

NEW ZEALAND PRODUCE IN LONDON.

4 ■ (Fsoai Otjb Ows Corbesjonz>int.) ----- July 12. Tflfe fourth series of colonial -wool sales of ihe present year opened on Tuesday evening with three catalogues totalling 12,823 bales, 6301 ol which were from New Zealand. MessTS Balme and Co inform one that the attendance of buyers was fully up to the average, and competition for merino and fine crossbred wool ■was animated at par to 5 per cent, advance on -the rates ruling at the clo&e of the May Bales. Demand for the ooaraer growths of crossbred, "however, which are in large supply, was not so satisfactory, and values for these descriptions ruled in average 5 per cent, below that level, tho depreciation being most pronounced on poor-conditioned parcels. The net available supply for the series includes 199,000 bales after the deduction of 101,500 less amount in transit. With some 18,000 biles of old stock the total quantity consists of come 217,000 bales Messrs Balme also remark thai the leyel of values established at the opening o£ the series is very much in accordance with anticipations based on th-* course of business in the manufacturing centres since the close of the May sales. Previous quotations for merino wool, which is very scarce, are firmly maintained *nd, as regards medium descriptions, frequently exceeded by 6 per cent. Fine crossbred wool is also well competed for. and may be quoted from par to 6 per cent, dearer. Medium and coarse qualities, however, which form the bulk of the available quantity of crossbred produce, have declined in average 6 per cent., the depreciation being particularly apparent in the .Lids made for poor-conditioned and 6habby parcels. A» is usual at this time of the year, scc\<.reds and slipes are in large supply. The fir-est grades easily command last sales' rates, but medium -and coarse growths sell very irzegularly at 5 per cent, decline. c The New Zealand Loan aad Mercantile Agency Company remark upon the large at.tendance of buyers from all parts present at .the opening series of the wool sales. Com.petition was generally brisk, and save as regards coarse quahtips of crossbred, which ruW abdut id per lb easier, the closing rates of the May auctions were well maintained, and in some instances exceeded. The improvement is said to be most pronounced in the case of fine crossbred and medium qualities of merino, ■which, on average, may be quoted about 5 per cent, higher, while shabby, wasty, coarse crossbred produce shows most depreciation. As at piesent arranged the series will be brought to a. close on the 29th inst.

NEW ZEALAND MEAT.

The New Zealand Loan and Mercantile Agency Company state that the demand for lrczen mutton has shown no improvement during the past three ■weeks, and values >n consequence have a weiker tendency, nl though stocks are not very heavy. Prime Canterbury mutton is worth from 2s 6d to 2s 8d ; Dunedin and Southland, 2s 4d to 2s Cd; North Island, 2s 3d to 2s 4d per feione. Owing to the l&Tge available supplies of lamb and pressure to sell on the part of holders, prices hav° fallen considerably, prime Canterbury lamb to-day being >orth from 2s 9d to 2a lid; Dunedin and Southland, 2s 8d to 2s 9d; North Island. 2s 7d to 2s 8d per stone. Beef marks a further improvement, especially as legards hiadcruariere which have advanced 2d to 4d per ■tone in the last few days, while forequarters meet a. poor eale. Primi New Zealand hindquarters realise from 3s 6d to 3s 7d, and fores 2s to 2s Id per stono (ex market).

Messrs Weddel say that there has been no arrival New Zealand lamb, but the steamers twinging the 197,000 rarcpses reported a fortnight ago heve only been discharging slowly, a considerable portion of their cargoes being not yet landed. The consumption thows a iurther expansion during the fortnight, but sales are still not sufficiently fast to keep pace ■with supplies, a proportion of which has already been some considerable time in store. The quality of the New Zealand marketings as a -whole is very good, and gives general satisfaction. As the proportions of light-weight and heavy lambs ore not more even, there is not that premium obtainable for small lambs such as could be made during- recent seasons, ■when two-thirds of the arrivals consisted of heavy lambs. Indeed, carcases of 44/50lb realise as much money as the 28/361b grade. Torced sales have again caused a reduction in quotations. The general price- for Canterbury lambs Df all veights- from 281b to 60lb is not snore than 4Jd to 4|d per lb, tbe 28/361b and 44/501 b commanding the most ready sale. Dunedin and Southland lambs realise 4£d to 4Jd per lb, while North Island brands are selling at 4d to 4sd per lb. Some activity was introduced last week into the frozen beef trade in consequence of a temporary scarcity of New Zealand quarters occasioned by the slow discharge of the steamers now in dock.

MISCELLANEOUS.

"-Messrs W. Weddel toll me that stocks of New Zealand -wheat ore exhausted, and therefore quotations are only nominal. New Zealand oats ere in very limited supply, and quotations are nominal. There are no New Zealand beans on oSqr. The New Zealand Loan and Mercantile Agency Company say there is little or no change to report in the position generally as xegards wheat. The whole market, however, iha* recently been firmer. The demand continues .to be •clow, but having regard to the fact that indications point to the possibility tot the American orop being short, and in the face o7 the diminishing '"visible supply," it dotes not seem unreasonable to look for an improvement in the near futtfre. As is customary at this season of tho year, buyers are indisposed to operate in cocksfoot pending advice of the result of the European and American crops, this position being emphasised owinn to the advanced mices asked bjr

sellers. Quotation* tro given nominally by the New Zealand Loan and Mercantile Ageixcy Company. The National Mortgage and Agency Company note that cocksfoot is in fair demand at 47s to 48s per cnt c.i.f. for 17/lSlb New Zealand seed.

The depression recently reported in the market for New Zealand flax continues, and the New Zealand Loan and Mercantile Agency Company say that values all round have ruled easier, sales of New Zealand flax ex dock having been made at £28 per ton. The market, however, since has shown a firmer tendency, recent sales having been effected at £28 5s ex craft and £38 10s ex warehouse. For arrival quotations for June are £27, and for September £26 10s per ton c.i.f. The New Zealand Loan and Mercantile Agency Company tell me that the prolonged depression and inactivity of the Manila market has at last broken down the patience of one of the leading shippers, and sales have been made of fair current for July- August shipment down to £37 per ton. This serious decline ha 3 influenced the market for New Zealand in a similar degree, and spot parcels have been sold at a decline of £5 per ton from the prioes ruling three weeks ago. The sales include about 120 tons ex warehouse or dock, the last prices being £28 5s per ton ; ex craft, £26 10s to £29 per ton , ex warehouse and for arrival, about 150 tons, June, £27 per ton ; September, £26 10s per ton For tallow thero has been a fair fiemand- for medium and inferior qualities, but finer descriptions and ordinary sorts of mutton have been and continue to be neglected. The stock at the end of last month showed an increase of 5000 casks, while' the shipments, though relatively moderate, were considerably in exc«sss of those during the same period last year. There is a fairly steady feeling at the cose, present quotations being: Good to finest mutton, 34s to 38s ; fair crossbred, 31s 6d to 32s Gd ; fair to good beef, 31s to S2s; edible sorts, 34s to 35s per cwt. The National Mortgage and Agency Company of New Zealand/ wr:te that New Zealand cheese meets a aair demand. Some parcels out of last arrival were not up to usual qua.i?t.y, and had to be sold in competition with new Canadian cheese, which is quoted at 47s to 495. Prices for New Zealand cheese are giver, at 46s to 53s pur cwt. English pelts, both sheep and lambs, have declined in price during the past few weeks, and this has somewhat restricted the demand for New Zealand pelts on the part of Home buyers. Prime, (freezing heavy sheep pelts are, however, still maintaining late rates, and sell promptly on arrival, some of them being bought by splittenj here and some for shipment to tho States. Other qualities are in moderate demand at rather lower prices. Lamb pelts, which are rot' in large supply, continue to sell at la9t season's rates. The pelt market in America is still unsatisfactory, hut tanners show a little more inclination to do business. Quotations remain unchanged, though average prices are rather lower.

As for rabbitskins, the National Mortgage ojid Agency Company state that after an interval of 10 months between the last two sales there was the laree total of 1818 bales of New Zealand tnd Australian skins available, against 603 in April, and 693 bales at the Fame date last year. Some 1530 bales were disposed of. New Zealand was represented by 349' bales. The best skins were again quietly received, and only a small proportion could be sold at fully Id per lb decline on April rates. Medium to fair brought last prices, but summer qualities declined Id per lb. Suckers and kittens show Id to 2d per lb reduction. Stale and flethy were difficult of bale at a heavy depreciation. Silver grey fend black, of approved selection, made firm value

The warm weather has restricted the demand fcr frozen rabbits, and few are now selling. Ho'-ders, however, are ay.-are that it is useless to press sales, ard qurcatiaus theiefora remain nominally unchanged.