NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2668, 3 May 1905, Page 9

NEW ZEALAND PRODUCE IN LONDON.

jCFkok Oub Own CoBBBsroHDiBNTj . T - " LONDON; Ifarch 25; _-._'• - wool; - „..,■ : :£Eio second series of "colonial wool sales of : ibe 'cnarrent year, which opened on the 7tH inst'.,; oloaed on the '23rd inst^ Measrs' Salme iell 'a» * that the- available quantities were aEprcxJmate-ly ira,ooo bales,' New.-- Zealand heading the list' with a contribution of 75,000. "She ftotal quantity -catalogued was 165,688 taW (68,714 being from' New Zealand),, while about" 19,000 bales were held over (including 6000 from New Zealand). At the corresponding .aeries of 1904, some 164,282 "Bales were catalogued, and about 14,000 were held over. Of the quantity sold on tihe present occasion, »liout 76,000 bales have been taken- .for export; including about 6000 bales purchased for shipment to America. In their review -Messrs Balme write: — "Th.%trend of business during the interval between Ijihe close of the January and -opening of the iMarch sales was unsatisfactory, the recent sharp- decline in coarse wools having shaken confidence in the maintenance of values. The Brtraation, moreover, was complicated by the Beraous' state of Kussian internal and external efEaira, which interfered with business, not pnly in Germany but also in the Bradford dis4riotT which, under normal conditions, does a, considerable trade in the export of crossbred yarns to Russia. Another factor which has .impaired the strength of the market has been ihe onerous finance connected with the unaisuaily heavy direct importations of crossifcred wools this season. " — -

"At the outset of the series merinos were ifeom. far to 5 per cent, cheaper, good wools selling closely . up io January rates, while Jaulty and inferior lots were, as a rule, 5 per icent. to 7§ per cein£ below that level. This basis- was not materially varied until toward the close ,of .the sales, when competition jbecame distinctly more vigorous and general, I^ith the result that well-grown parcels of jjood '.quality sold fully up to, and occassionally -fin. excess of/ the prices current at the preceding auctions,, while ihe position of the ia-

: fcriox and faulty sorts also improved. A feature of the -series has been the indifferent • demand for broad-haired merino wools of South Australian and New Zealand origin, a.s well as for merino lambs. The finest Port Philip comebacks have made about pre-s-icms '■ rates, but the general ran of fine crossbreds ' v at the opening were 5 per cent., and medium and coarse 7J per cent, cheaper. With the ■ progress of the sales the market further l weakened, until tihe decline amounted to 7| i per cent, on the fine qualities, and 10 per cent. to 15 per cent, on ordinary medium as well ! as coarse grades. Later on, however, the • market hardened, and prices reverted to the ' opening level. Medium descriptions of gwod style and condition have been throughout in keen request on Aajeri-oan account at values closely up to those current at the January auctions. Scoureds were in small supply, and sold on relatively more favourable terms than greasy parcels, the finer sorts being about 5 per cent, dearer, while the coarse were occasionally 5 per cent, cheaper. The finer qualities of slipes declined 5 per cent, and medium and coarse 10 per cent. ".The prospects for merinos a-ppear favourable/ Messrs Balnie go on to say. " Consumption, in spite of the dislocation of busi.ness in Russia, is larger than for some tLne past, and although supplies this season exceed those of last year, everything points to an easy maintenance of existing quotations. The course oi the market for coarse wools sinee 'the turn of the year has been disapipointing. -.The fall ,in values appeals, however, to . have been arrested, -and there are indications that at the rates now current' a steady busi- • ness is likely to be transacted, so that, as • soon -as the" 'direct importations, which are at present weighing heavily on the market, have" passed t into consumption, a healthier tone -should- supervene." As compared with the closing rates of the j previous series, Messrs Balm© supply mo 1 with, the following current -prices for New '-Zealand and Australian wool: — Merino, in , grease, superior, par ; merino- id grease,, average to good, pax to id. per lb cheaper, current, price" lOd to lsr'OJd; merino, in grease, pool condition, Sd per lb cheaper, current price 6£d to 9Jd per lbj merino, in grease, inferior pieces and locks, £d to Jd per lb cheaper, current price -3d to -7d; merino, scoured, superior par. to id per"' lb cheaper, current -price Is lOd'tcSs JLd; merino, scoured, average to good, pas to Jd per lb .cheaper, current "price Is 5d to Is 9jd; merino, scoured, infcrfer, *d "to Id per lb cheaper, current price lid .to Is 4Jd- per lb ; merino, scoured, faulty pieces and .locks, Jd to Id per lb cheaper, current price -7d to 10£ d; merino iambs' wool, in grease, superior, ■- exceptional lots," Is" Id to Is 6d; merino lambs' v wool, in grease, superior, §3 per lb* cheaperj current price lOJd . to Is; merino lambs' wool, in grease, medium, • ftd to Id _per lb * cheaper, current price 6|d to lOd; merino lambs' wool, in grease, inferior, |d per~lb" cheaper, ctirrent price 4d to 6id; crossbred, in grease, fine, §d to Id per lb cheaper, current price lOd to Is 2d per lb , -crossbred, in' grejase,,, medium, exceptional lots, par to' id. . per ,1b cheaper, current price lOd •to ll*d; crossbred, in medium, Id to -I4d per lb cheaper, current price Sid to 9Jd; crossbred, .in, grease, coarsej.ld par lb cheaper, current price 8d to l0|d; crossbred, in grease, -.inferior pieces and locks, %d \o Id per lb cheaper, current price 4d to l\d ; crossbred lambs, in grease, Jd per lb cheaper, current price 7£a to Is; crossbred, scoured., fine, - Jd to Id per lb dearer, current price, Is 3Jd to la lOd; crossbred, scoured, medium, par, ■ current prioe Is to Is 6d; crossbred, scoured, coarse, par to~Jd p-er lb cheaper, current price 10£ dto Is 3d; crossbred, sliped, fine, §d per ' lb cheaper, current price lOJd to Is 2*d; crossbred, sliped, coarse-, Id per lb cheaper, • current price BJd to lid. ■ The third series; of sales is to open on , May 2, the new arrivals being limited tc 150,000' bales* net. To date the gross arrivals are- 120,292 bales (47,217 being from New Zealand, of- which some 18,000 bales have been , forwarded to manufacturing districts). DAIRY. PBODTTCE. The New Zealand Loan and Mercantile Agency Company -tell me that during^ the past three weeks the butter market has improved to- the extent of Ss to 4s^ per cwt for choicest grades of New Zealand^and^Austaalasian pro- - duoe. The rise has 'been steady and well maintained each week. The arrivals have been very -short, and the total quantities for the three ' -weeks" ended on Thursday from Australasia were" only about 60,000 boxes. Thi3 " does not, 'however, include the Matatua, from New Zealand, with nearly 70,000 boxes — a 1 record shipment by over 14,000 boxes. Under- ] grades .have met with- an unprecedented mqtury,', and. prices for separator and milled < butters liave touched within |d per lb of choicest. Just now the attention of buyer.3 is directed to finding a butter just about 2s under best; the very poor varieties being ail cleared up. The supplies show practically no increase this week as compared with three weeks ago. New Zealand choicest is quoted at 106s to 107s and 108s; finest at 104s to 105s; and milled and separator at 98s to 102s per cwt. Within the last three weeks the long-expected rise in cheese has taken place, and the boom is still going strong. New Zealand cheese rules firm, and prices of 55s and 565, asked at the beginning of the -week, are now obtainable. Messrs Mathie and M' William, of Glasgow, tell me that the prices of colonial butter and of Danish are extremely close, and, while the general quality of that from the colonies has been up to a high standard of uniformity 1 this season, Danish, butters have shown con- ' siderable irregularity. Choicest New Zealand is quoted at 108s to 110s, and choicest Danish at Ills to 112s. New Zealand cheese is coming to hand in good condition, and, being softer in the mea, is ready for cutting out, and is therefore attracting more attention from buyers at 55s to 565. NEW 'ZEALAND MEAT. Messrs Weddel tell me that arrivals of New ' Zealand mutton are a full average, aggregating 120,000 carcases for the fortnight. An improvement is noticeable in the demand for all qualities of mutton, although sales aro still probably below the average at this time of year. For Canterbury sheep, which are at present in very moderate supply, there ;is always a fair inguiiji and %c cpjnsump-

tion of other New Zealand mutton is assisted by the higher rates now demanded for River Plate sheep. Small Canterbury mutton is quoted at 4fd to 4|d per lb, the larger gridss selling at 4|d to 4Jd. North Island sheep oi the best brands realise 4cl to 4Jcl per lb ; others, 3|d to 4d per lb. Ewes are selling at about 3d per lb. Receipts of lambs from New Zealand during the fortnight have totalled 173,000 carcases. Stipplies from Kew Zealand are temporarily in excess of market requirements, and values have eonseqiiently eased down again slightly, although there is no forced selling, and the general position of the market is regarded as satisfactory. In Mew of the comparatively high level of quotations there is a fair expansion in the demand, siome assistance being given by the mild weather of the past week. Small lambs are asked for, and, as supplies of these are relatively moderate, they fully maintain their forme;, premium over quotations for the larger grades. Canterbury lambs, under 361b, sell at 6d lo occasionally 6|d, and the 361b to 421b gradd realise ssd to 6d. Southland and Dunedin lambs sell at sgd to sld, and North Island brands at s§d to s|d per lb. The sale of Xev. Zealand beef is so slow that quotations are nominal. Four thousand quarters have arrived in. the fortnight. In view of the excellent quality of the River Plate beef now received, the short supply of New Zealand oeei is not felt.

It is remarked by the National Mortgage and Agency Company that stocks of Canterbury sheep, more especially .those oi. light weight, are in small" compass. Quotations are nominally rather firmer, arid carcases weighing 48lb to 561b may be quoted at 4id to 4|d per lb, the hoavieT grades selling , at 4d to 41d per lb. There are no Dunedin or Southland sheep on the market. Owing to the shortage of Canterbury, mutton there has been a good deal of inquiry for the beet grades of North Island sheep under 561b, which have been selling readily at *4Jd to- 4Jd per lb. The heavier grades do not show much improvement, "however, and are offered at 3|d to>4d per lb. The demand for lamb shows a steady and satisfactory expansion each week, but, with heavier New Zealand supplies available, the --high, prices Jately ruling have barely been maintained. Canterbury lambs are- now selling at about 6d per lb, and other brands at from s|d to 5Jd, accordingly to quality. There is a limited - demand for really prime New Zealand bsef at about Jd per lb above prices given for River Plate beef.

Contracts have been placed again this season for C.M.C. lambs, shipment monthly over certain periods, some contracts commencing' with January shipment, the price for each month to be arranged upon the lowest c.Lf. price accepted by the sellers for that ni-onth. Trouble has naturally arisen in connection with these contracts, M«srs Gordon, Woodroffe, and Co. say. The sellers have failed to make a separate sale for January, buyers decline to agree to the prices which the sellers are trying- to force upon them for that month's shipment, maintaining that the sellers have broken their agreement by abstaining from selling forward, and, therefore, they should only be charged the price at wbioh similar lamba were freely sold for the shipment in question — --namely, s£d per lb (ci.f .,- London), and it is the general opinion that buyers can claim the lambs at this price. The same difficulties seem likely to arise over February shipments.

MISCEIiLANEOTTS,

Messrs Weddel report that the demand for New Zealand oats has been small at about previous rates. There is no New Zealand wheat offering. Supplies of New Zeaiand beans are nearly exhausted, but there is no inquiry, and values are nominally unchanged. The New Zealand Loan and Mercantile Agency Company say that as the end of the season approaches there has been rather more inquiry for cocksfoot, ,and several parcels have changed hands at an advance of Is per cwt. Bright 181b seed is quoted at 53s to 545; medium 171b -at 51s; medium 161b at 49s per cwt (ex warehouse).

I am told by the New Zealand Loan and Mercantile Agency Company that only a moderate business has been passing in New Zealand flax at about 10s per ton decline. The stocks on hand are considerable, and buyers for the time being are disinclined to operate. As a conseqxience the market is very dull, and sales are difficult to effect. Good, fair March-April is quoted at £29 15s; April-June, £29 10s ; " fair " March-April, £27 5s to 4*27 10s per ton (ci.f.). Fair" current Manila is quoted at £40 per ton (ci.f.), Feb-ruary-April.

From the National Mortgage and Agency Company I hear that 3923 casks of tallow have been recently offered for sale, with the result that 1453 casks -were sold. The demand has rvled very quiet, and prices for medium and low descriptions have declined 3d to 6d p«r owt. Finest mutton tallow has been in short supply lately, and has been held for high prices, but only sails in limited quantities. The market closes quiet and dull, with a tendency to easier, prices. Impels during the past three weeks have included 1369 casks from New Zealand.

In regard to salted New Zealand pelts, both the National Mortgage and Agency Company and Messrs Gordon, "WoodTofEe, and Co. say that arrivals are still very small, and the new season's pelts which have so far came forwaid have sold readily at fully late rates. The market remains very strong and continues to favour sellers.

At the last sales of leather, 978 New Zealand hides were offered, 858 of which were disposed of. There was a very fair demand at late rates to |d per lb decline. At the last aale of rabbitskins New Zealand -was represented by 469 bales. The National Mortgage and Agency Company state that the best winter improved about Id per lb (2s per lb being paid for one special lot). Fair lo g-ood sold firmly, oiitgoing and medium season's weie steady, but lefty, fleshy, and suckers declined Id per lb.

On Saturday evening shortly after 6 o'clock two large stacks of oats on the dairy farm of Mr Shiel, at Fairfield, near Saddle Hill, were discovered to be on fire. Nothing could be done to save the stacks, as the fire had gained some headway when discovered, and they were burned to the ground. As ;tbe property ;was .uninsured, Mr Shiel will

suffer a loss of about £90, there being about 40 tons of stuff in the stack?. The fire is believed to have been maliciously occasioned, and inquiries are being made by the police.

A rabbit buyer who does a large business .in Otago, has informed the Western Star that he was so aisgusted with the way trappers sent in the carcases that he was thinking about going out of the business. The arrival m London of rabbit* that had not been properly cleaned affected the price, and hence the trade was not profitable. "Want of care has also affected the flax market.

The new settlers on the Moa Flat Estate rre commencing farming operations. Ploughing has been begun and building materials are being carted on to the sections. Buiidwill, however, not be much in evidence probably till after the winter, as the clay roads -will rapidly cut up with heavy traffic.

Of late in Southland (says the Gore Standard) fat steers have been almost unsaleable. Splendidly-topped animals are selling at 35 per cent, less than the prices ruling a few years ago. Calves are even less sought after. Roughing operations for next season's cereal crops have commenced in the Wakanui district.