NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2674, 14 June 1905, Page 22

NEW ZEALAND PRODUCE IN LONDON.

(Fslou Ova Own Cosrespomdehtj LONDON, May 6.

woof. L3st Tuesday the third series of colonial wool sales cf the current year opened with, catalogues comprising 11,427 bales, 5804 of which were from New Zealand. Messrs Charles Balrno and Co inform ins +Jiat there was ->. very large attendance of buyers, and competition from all quaiters was animated, the demand from the representatives of the American trade for the medium and finer growths of crossbred wool being exceptionally keen. Prices for merinos ruled from par to 5 per cejit. above tho^e current at the close of the Ma.rch sales. Fine crossbreds were 7{j per cent., medniiTL J2J per cent., and coarse par to 5 per cent, dearer. The net available supply for the series comprises about 166,000 bales, including 19,500 bales of old stock.

Writing to mo again later in the week, j Messrs Balme say: "Since the close of the j Maich auctions the position of both fine and coarse wools has distinctly improved. The direct impoitations which, during +he earlier months of the year, weighed somewhat heavily I on the market have now passed into stiong ! hands, while the consumption of merinos, as , well as tho finer grades of crossbreds, has recently expanded. Moreover, a revival of the American demr.nd for medium crossbreds hss lee? to considerable purchases in the Yorkshire districts duri.ig the interval, which, besides causing a pronounced riso m the values of such qualities, has sympathetically biought t'bout some improvement in prices for coaise sorts, although tlio consumption of these continues below tbo normal, complaints still being nfo as to the dulnoss of the expoit yarn trade. The sale loom is well attended, and competition from all quarieis is animated. Merinos bell at an advance of 5 to 7i pel cent, on Maich closing rates. The risa is most msikcd on ' good g'leasies, above Is per lb, which are m small supply, on other classas of grease, a? well as on soureds. ii> does not exceed 5 per cent. A r ealuie of the maiket foi cro^- , Lied wools is tho exceptionally .^tiong competition hum the xci lesentatives of the American tit-dc for the fine and medium growins. Fine qualities in the grease aie 7i to 10 per -tut., medium I?.'^ per cc. t, and coarse par

to t per cent, dearer, while the appreciation in the case of crossbred lambs amounts to 10 per ce~it. Scoureds and slipes are also in good demand, but prices for the fine and medium sorts hsve not advanced to the same extent as similar descriptions in the grease, the rise not exceeding 5 per cent. Coarse grades have improved about 5 per cent. Up to the 3rd inst. 5534 bales of New Zealand wool havo been catalogued. The quantity from that colony available for tho series amotmts to 87,000 bales. It is noted by the National Mortgage and Agency Company that a large proportion of the purchases made in New Zealand this season was r.ot in very strong hands, and the selling cl coarse wools, which has been necessitated, had tho effect of lowering prices. Now, however, it would appear stocks are armly held At the present time there is no accumulation of old stock, pnd, with anything like a fair consumptive demand during the next few months, the available supplies in tho latter part of the year will be of small dimensions. THIRY PRODUCE.

It is lepor'r-d by the New Zealand Loaa and Mi-rcant^e Agency Company that during fhe last three weeks the butter market has ■weakened fully 8s per cwt on best colonial makes, and although holders geueially made every cifort to maintain prices, as in one or two quarters very low quotations were made it was impossible to support values. Tha

demand for colonial butter has been very quiet all over the country, but at the close a slightly improved inquiry can bo notscl, chiefly for best qualities. The market has now every appearance of being on a firm basis, and although any advance in value can hardly be looked for, this firm does not anticipate any material reduction taking plaoe at present. Arrivals of several of the best brands of Australian ha.ye now ccpsed, shipments this year having been ccntinued up till a much later date than last year. The quality of Australian butter generaly has fallen off during the last +hree weeks. The reduction in the price of Danish butter during that period has materially assisted to weaken the prices for colonial makes. Choicest New Zealpnd is quoted at 92s up to 945; second grade at SSs to 90s; dairy and milled at 78s to SSs. These prices ara generally about 6s above last year. In regard to cheese, the New Zealand Loan and Mercantile Agency Company state that prices are about 3s per cwt lower than they were three weeks ago. The fall in values has come about by some sellers, this firm considers, needlessly giving way, having regard to the strong statistical position. The trade has been very dull, with only a small hand-to-mouth trade

passing Another reason for lower values is

thai a good quantity of New Zealand cheese has been contracted for this season, and, sellers

seeing a good piofit, have hastened to get out,

Tho future is difficult to forsee, but, as buyers cannot keep off the market much longer, a. very gond trade ought to pass during the nest two weeks and improve values. In the year 1302 cheese .vas dealer in May than in April by 6s per cwi., and it seems quite feasible that a similar market might preeent itself again this year. Taking the last 10 years, the difference in average price between April and May '"was on 8d per owt in favour of April, and while not sin:.e 1902 has May been dearer than April, when prifces wsre 5s 3d per cwt better, ii seems not unlikely that the history of 1802 may tliis season repeat itself. By this firm. New Zealand cheese is quoted at 54s to 565, with second gTade at 52s to 535. Canadian is quoted at 555, 575, up to 58s per cwt.

In the repent of the National Mortgage and | Agency Company it is stated that but+er from i New Zealand is selling at reduced rates. The ! s.s. Rimutaka is discharging her cargo, and I the goods are selling as they land at 945, with j an occasional Is more for special brand?. ? Milled and dairy butter is now difficult to clear j at lower prices. The cheese trnd» continues very slow. XEW ZEALAND MEA". Messrs W. Weddel report that arrivals of | New Zealand mutton total about 120,000 carcases during the past fortnight, or practically ; double what they were during the previous '. fortnight. Notwithstanding the large number received there has been no appreciable alteration in values, although some of the heavier

! weights have declined somewhat in price. Th/ 2 demand generally has only been fairly good, and is accounted for paitly by the fact of the I Easter holidays, and a certain dullness is j usually noticeable during the week following. j During the fortnight JBI.OOO carcases of lamb havo como to hand from New Zealand. j Tho New Zealand Loan and Mercantile ; Agency Company reports that for light-weight

sheep of 48ib to 52ib, which are extremely

scarce there is a fairly good demand, but for heavier carcases, ranging from- 64rb aad tip-

ward, Ihe solo is far from satisfactoiy: - Very little business is being done "in " Australian mutton. The demand for New" Zealand" lamb has been steadily improving, and for lightweight carcases of 281b to 361b late rates have been well maintained. Heavier descriptions, bowpver 381b to 42ib, ?re not woilh quite so much. Prices of Australian lambs have advanced jd pei lb in cor.sequenco of materially reduced stocks. Canter bin y lambs are quoted at 5M to Sid per lb; North Is'and of prime quality at 5Jd to ojUl; and secondary at 4Jd to s|d. Canterbury mutton is quoted at 4d to lid pe_- ib.

The Motional Mortgage and Agency Company &£.vs. Tho demand has favoured light-weights, which ccntir.ue to sell at a considerable premium over heavier carcases. Tho supply of Canteibuiy sheep has continued moderate, and although many buyers have turned their attention to other descriptions, full prices have been obtainable 'or prime lots. Carcases weight lg 481b to 561b may be quoted at 4Jd ; 561b to G4lb a + -lid ; and 641b to 721b at 4^d to i^d per 'b. Tho best brands of North Is 1 and sheep sell at 4 id, O^cl tc 4d, and 3d per lb lespcctively for similar weights, ordinary lots realising Jtl to Jd pei lb le~s mone-v. Ev.es are quoted at 34d per lb. Airivals Of New Ze.iipnd ;»uib ha•^e Lean heavy, l>ut the ships have bean discharging slowly, and. vith supplies of Austiahan laiiib? decreasing, values of New Zealand descuptionf. h.-.\ c been fairly well maintained. Cantcib'-iy la lge ficm SUI to sld per IL, hgl)t-we'ght=, 28.b to 3Glb, realising tli? higher i^rice. Other brands ««11 at 5Jd to 51.d per lb, Recording to weight and q»ahty.

MISCELLANEOUS,

TLc Xe-.v Zealand Lopn and Mercantile Asrcrcy Comc.iny rep-oits that several parcels oi Xcw Zealand wheat have changed Muds, P'.d rcje«t]y. 29s pei ißoib. c.i.i., has bee-i PA.-1 for Ith Icnabeiried May-June slucuisni

by steamer. There is a quiet demand for oats and sales are difficult to effect. A fair trade has been passing m beans at about .'ate rates. The season for cocksfoot is now practically over,^ and buyers aio awaiting arrival of standard samples of the new crop. A consideiable quantity of old bright seed is being carried ever, and, as ihe latest reports indicate thai; the new crop will be much darker than last season, this is being held for advanced prices. Medium 17lb seed is quoted at 50s, and medium 161b seed at 49s 6d per owt Cc.i.f.;.

Tho Aationa^ Mortgage and Agency Company r.otes that some sales of Nev Zealand wheat, May steamers, are reported at 29s 6d per 4801b, c.i.f., but at present there are no buyers at this price. Oats meet with more inquiry, and close firm at 6d advance, but stocks of New Zealand are in veiy small compass.

Only a moderato business has been passing during the last three weeks in New Zealand flax, and I hear from the New Zealand Loan and Mercantile Agency Company that, with further heavy arrivals, prices have given way 5s to 10s per ton for " spot." There is a quiet demand, the distant positions attracting moss attention at about late rates. The market for Manila has advanced, with a fair demand, but New Zealand has not responded to this firmnesi

I hear from the National Mortgage and Agency Company that at the sale of rabbit- v skins recently he.'d the offerings totalled 10S7 bales ci! Austialian and New Zealand skins, of which 1031 were sold. The supply of good season skins was moderate, and. with a strong demand, these realised firmer prices. For lr.ecliuni quahties barely steady rates wera obtained, while common sorts and suckers declined |d to Jd pe-r lb. New Zealand's offerings totalled 140 bales. The besi season skins showed an advance of }d to Id per !b ; medium reason's ranged -from bst sales' rates to id per lb easier; hghtlj furred leceded fully id per lb; and suckers Jd to Id per !b. Silver grey 'ilack, and fawn, suitable for furriers, showed no change m values. Hare s.kins sold at firm prices.

During the last fortnight the tallow market baa beei' somewhat auiet, chieflly owing to tho ETstei holidays. Public auctions were held on the 3rd inst.

Tho National Mortgage and Agency Company tell a me that at the public auctions some 3335 casks of tallow hav-e been offered, of which 1873 have been sold. The tone of the markej has been rather better, and prices for medium and lower sorts show an advance of about 6d pea- cwt, hard kinds being most sought after. Fine mutton is still in limited demand, but prices are not quotably changed. At the sales this week there was only a limited demand, and prices in most cases showed a decline of 3d per cwt. there baing no orders for a large proportion ~6f the offering. Tho market closes dull, with an eaeier tendency. Impoi-ts during the past three weeks have included 5567 casks from New Zealand. New Zealand mutton, good to fine, i 3 quoted at*2Cs 6d to 29s per cwt ; iair to good at 25s 3d to 265 ; beef tallow, good to fine. 24s 6d to 25s 9d ; do fair to good, 23s 9cT to '24s 3d; mixed, fair to good, 23s 6d to 21a 9d ; and mixid common, 22s to 23s 6d.

Prices for fio2.en rabbits are considerably lower, and further heavy shipments are near a*- hand whilo trade Is now very quiet. Tho ITation.il Mortguge and Ageiicy Company state? that airivals from Australia during the past Hire a weeks have comprised 28,503 crates. The market for hides is very quiet, md buyers show Mile disnosition to operate even at easier prices. The ip&tber market remains firm, tho supplies available for sale bc-ing small. The demand for busils is good, but in the absence of supplias no hnsi.ieja has been possible. During the past three weeks prices for pelts have been we 1 ' maintained, with a strong demnncl for all classes of sheep and lrmb pelts. The h-gh prices now. ruling must tend to restrict consumption, but. in view of the outlook in legard to supphes. there is no reason, pay fhe National Moitgage and Agency Company, to looic tor any change in the near future.