HEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2572, 1 July 1903, Page 9

HEW ZEALAND PRODUCE IN LONDON.

(Fboic Oub Ows Cobeespondeot.) LONDON, May. 23. ■WOOL.

The New Zealand Loan ancl Mercantile Agency Company note that the opening of the series was marked by a " a very buoyant tone. All sections of the trade were well represented, competition being general and animated, while prices for all descriptions ruled in sellers' favour. The appreciation was moßt marked in the case ox medium crossbred, for •vrldch keen Continental bidding was enlisted, values as compared with March closing rates ruling 15 per cent, higher, fine qualities being about 5 pot cenc. and coarse 10 per cent, dearer; and this improvement, with the progress of the sales, has further developed frequently to the extent of 5 per cent. The best qualities of merino, which opened at an advance of about 5 per cent., are now about 10 per cent, dearer; osher descriptions, ssve medium wasty greasy, which sells irregularly Und. occasionally in buyers' favour, being 5 to 7i per cent, higher. Slipes fully participate in the advance above recorded, while lambs are keenly competed for at a>n axlvnce of Jd to Id for merino and Id to IJd for crossbred per lb. The sales, as origiaally arranged, will terminate to-day."

NEW ZEALAND MEAT.

According to the report of the National Mortgage aud Agency Company, the trade for frozen muiion and lamb has been quiet, while tha arrivals froni New Zealand have been ex-cc-ptionally heavy , and, ov.-ing to the competition of sellers, values for both sheep and I<unb3 have -been considerably lowered, without materially increasing sales. Values of beef have been fairly well maintained, owing to short supply. The supply of New Zealand mutton has been in excess of demand, and some holders have forced sales at unnecessarily low prices. Canterbury sheep are now much more plentiful, and the limited demand for this description a.nd the sharp fall in lambs have caused further weakness. Prime sheep of 48-64 ib are freely offered at 3£d per lb, and are by no means a ready sale at the price; 64-72 ib sell at 3?d, and heavier weights down to 3id per Ib. Dunedin and Southland sheep cannot be quoted at more than 3Jd to 3£d for best weights. Supplies of New Zealand lamb harve been heavy, and the -numerous holders have been inclined to press sales unduly, with the result that values have further declined |d per lb. Prime Canterbury lambs, 28-421b, are offered at 4-gd per lb; the 28-361b grade being much more readily saleable than the heavier grade. Other brands- range from 4{d to 4Jd per lb, and tegs 4d to 4Jd.

MISCEIiL.VSF.O ITS.

The New Zealand Loan and Mercantile Agency Company notes thai trade in cocksfoot oh spot has been smalL the season being now practically over. A fair business is passing in the new crop, and sales are reported at 44a 6d for 171b seed, c ijf. Colonial id«as of value at present are generally higher than those adopted by buyers here and oa the Continent, which checks business.

From the National Mortgage and Agency Company I hear that a small parcel of New Zealand new crop Canadian, pats is on offer this week, and the average value is about 23s per 3841b, ex store; ordinary Bluff and sparrowbills would probably be worth Is to 2s per quarter less money. The market for New Zealand- oats ia somewhat limited at/ these prices, and heavy supplies would cause a reduction in values to approximate with Bussian and other similar descriptions.

The New Zealand Loan and Mercantile Agency Company state thai the reduction in the value for tallow which was foreshadowed 9, few weeks ago has taken place, and prices have declined 2s to 2s 6d per cwt. These lower quotations have had the effect of somewhat stimulating business, and as there has recently been a better demand it seams likely that we have nearly come to the end of the downward movement. Fine mutton tpllow is still hard to sell, while largo quantities are available. For arrival, bußiness has been done in fine mutton afloat at 293 per cwt, c.i.f.

The National Mortgage and 1 Agency Company remark that March shipment of New Zealand flax, which has. been oversold, is in demand, and a» re'atively higher price has been, paid. The feature of th.« market kaa been the dema-nd for October-December 6liipme>nt for next year's requirements. Ths sales have amounted to a,bout 1400 tons. Quotations are : Spat, &U 10s to £35 per- ton ; April, £32 10s to £33 10s per ton ; May, £31 10s- to £32 103 per ton ; June, £31 to £32 10s per ton ; July, £31 to £31 ss; July-Decemoer, 25 tons each mo-nth, £30 per ton ; October-December, £29 10a to £30 per ton ; fair Auckland, April steamer, £30 5a to- £30 10s per ten.

According to- Messrs Gordon, Wocdroffe and Co. arrivals of salted pelts are at present on a large scale, but there is a. good market for primei freezing sheep and la>mb pe-Hs, and prices are fully maintained. Heavy sheep- pelts axe in specially good demand for splitting, and America is al?o taking a. farr share of these peKs. There is a- modera-ts demand for pelts of mixed character and quality, which find buyers at about late rates. The National Mortgage and Agency Company report that arrivals of New Zealand pelbs are at present on a large scale, but there is a. good market for prime freezing sheep, and lamb pelts and prices are fully maintained.

At the lti-st soi.e of rabbitskins, according to the Na.tiona.l Mortgage ajid Agency Company, there were 1130 bales of New Zealand and Australian skins offered, an*! 907 bates were cleared. There was a fair attendance of buyers. Values show considerable reduction, but for medium and low grades the inquiry was very fair, and the bulk of the offering was cleared at about |fl per lb decline on average. New ZeaJund contributed 284 bales. G-ood to prime thin pelted were sparsely offered, while mixed, thin, aaid" stout-pelted skins were well represented.- These met with little support, the best ofFer obtainable marking about Id to 2d per lb reduction en last sales' quotations. Medium and low sorts brought aJbout late rates to id per lb decline. The few lots of sTna.ll and kittens- available maintained forniev levels. Black and fa,wn, in sinaJl quantities, brought full prices.

For frozen rabbits the same firm ssys the demand has been very dull, and, with warm weather in prospect, little improvement in this respect can bs anticipated.

DAIHY PHODUCF

According to the National Mortgage and Agency Company supplies of New Zealand, butter are now light, and buyers are preferring to Tt«e Ctrcrtinental descriptions. Finest is quoted at 94s to 96s per cwt. j lam (old by Mes=rs Wedde! that the improvement in New Zealand b'ltfer, which began last week, has remained steady up to date, and in some cases higher prices have been paid, but the trade is more or lesa restricted each -week owing to the falling oS of supplies in consequence of the closing of the season. 1 It is thought thsut in all probability the cargo ■which is being brought by the Ath-snic will go into cold store to await the rise in tbe market in the late autumn. The price of " choicest " brands thia -week are 973 to 98s, with an occasional 98s. " Finest " batter makes 94s to 965. The Aotea is due in a dny or two with .about 6700 boxes of butter. New Zealand on

the spot is in very small compass, and business has been virtually confined to the Actea'9 carge, due shortly. For New Zealand cheese, ex this steamer, ''choicest" -white is making 675, and coloured. 665.

In the Scottish market I hear from Mtrsrs Mathie and iL'Wilham that New Zealand butter is meeting- with a. dragging sale. Tbe season is practically ever, and holders are anxious to clear before the weatner becomes very warm. In the Scottish market New Zealand cheese is pretty well sold up, and prices are Is to 2s per cwt easier at the quotation o ( 67s to 6Ss.