NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2677, 5 July 1905, Page 23

NEW ZEALAND PRODUCE IN LONDON.

(Pbom Otjb Own Corhesfondent.) wool. May 27. Tli© National Mortgage and Agency Company, reporting on the last seiies <i( of wool •ales, say: — At the close values an averags showed a gain of 7| per cent over the previous auctions. Several nice lota of New Zealand wool were offered, and sold up to 15d for the best. Sooureds .were—not^ in great «ur>ply, «H'l were -generally about 1\ per cent. dearer, Australians "selling up to 2a 2h&, and New Zealands to Is lid per lb. The offerings of crossbred wool* amounted, to about 75,000 'bales. "Fine sorts ,»t the opening were 5 per cent, dearer than in March, and soon ' gairtetl 1 a further < 5 per cent.; and this* improvement ■was. well maintained to the close. Medium giades, - under strong American stibport, frequently realised 3d per lb more thsm in March, • rise of about 35 per cent. Coarse-haired wcoda, i 6 per cent, clearer at the. opening gradually advanced all the sales, and closed at about 10 per cent, above opening prices, j Slipes, which were mostly very short, were about 10 per cert, clearer than in March. "If looked at only from the point of view of the outburst of American buying of cross"bred wool," coLt-uruies this firm, " the scries .■which has just lun itß course would be a. memorable one, but there is also another aspect of the case, and that is that ii has mode it doubtful whether the decline which occurred in the value of coarse-haired wools after -the opening of the January sales, and which con- ■ tinued almost uninterruptedly to the beginning of the present .sales, was altogether warranted. 'In many instances clips sold in the colonies were in weak hands, who were forced to lealise, and users were not slow to seize their opportunities, and did their best to help prices downward. This continued until 40's tops, which early in the yeai were quoted at I6ld per lb, fell during last month to 12Jd per ?b. Happily this forced selling would appear 'to have spent itself, arid, left alone, there eeems no reason why the ordinairy law of iSMpply and demand should not now assert iteelf. With such small prospective supplies ior the next few months prices should have a very firm tendency." To date, the arrivals ior th-& fourth series, to open on July 4, total 82,237 bales, 85,568 having arrived from New^ Zealand. Seven thousand five hundred of this latter description have, however, been •forwarded- elsewhere. NEW ZEALAND MEAT. . Arrivals o£ New Zealand ah?ep have consisted of about 126,000 carcases from the colony during tho last three weeks. The National Mortgage and Agency Company say that Canterbury mutton, especially of light weight continues in short supply, and as there are still some buyers who will have this brand faaiey prices are obtainable for the few carcases available? The 481b to 561b weight is quoted at 4fct; 561b to 641b, a.t 41d per lb; and 64'b to 721b. at 4d to 4Jd per Ib. North Island cheep form bhe bulk of the supplies, and good bright sheep have been freely offered at the following prices: 481b to 561b, 4d to 4Jd pei lb; 561b to 641b, 3 11-16 d per lb. Best brands occasionally make a trifle more. The cold ■weather and present full prices have tended to check the demand for lamb, but prices of that from New Zealand have been maintained. and are very firm, especially in the case of light-weights. Canterbury lambs are selling 'at 5Jd per lb for 361b to 421b, and 6|d per lb for 281b to 36!i>. other brands range fiom s£d to 5Jd per lb, recording to weight. The C.C. and D. Company write : —Canterbury sheep are seldom seen, aa\d the stocks available are extremely limited Best light carcases are placed in the country in small 'lvr.mbers up to 4|d per lb, and heavier grades sell at all prices down to 4£d, but quotations anus! be considered nominal. Small North Island sheep are worth 4d per lb, and the demand runs on the light carcases, but holdeis are chary erf selling unless buyers take a proportion of heavier sheep. Medium weight caieases are nominally worth 3|d per lb, but, Bales, even from recent arrivals, have been made at loss than this figure. Hea-vy sheep have been pressed for Bale by some holders, and lines of Wellington mutton, heavy but of good quality, have changed hands at 31d per lb. There is no reason for this -weakness Jn prices, except the dulness of the demand, and *he limited supplies coming forward frora the

colony have not had any strengthening effect up to the present. Messrs 'G ordon, Woodroff e, and Co. report : Thero has been a fairly good inquiry for New Zealand beef on account of rather lighter supplies ficxn the Eiver Plate. New Zealand hindquarters are quoted at 3j;d to 3|d per lb, and forequarters a>t 2|d to 2|d per lb. DAIBY PRODUCE. The National Mortgage and Agency Company report that the s.s. Athenic has discharged her cargo of butter in good order, and the shipment has been cleared on arriva 1 . The quotation for New Zealand butter is 945, and for milled and dairy descriptions 80s to 90s per cwt. The cheess ma.rkot continues to recede slowly, and it is difficult to sell any quantity, as, with new cheese offering at 47s to '4Bs (c.Lf.), buyers are only operating from hand to mouth. New Zealand white is quoted at 52s to 535, and coloured at 51s to 52s pec cwt. Messrs W. Weddel and Co. write to me that, contrary to general expectations, the demand foT New Zealand and Australian butter continues gocd, and prices are firm at an advance of Is to 2s per cwt on the week, although supplies from these places have temporarily incrc-ased and foreign receipts have been wall maintained. This firmness is due to the J shortness of butter in cold store. The-ajnount of New Zealand butter afloat is only 5800 boxes against 60 V OOO boxes of Australian and 31,000 boxes of New Zealand last year. The demand for both Canadian and New Zealand cheese is only cne of hand-to-mouth character,' and piioes are showing, a. gradual decline.