NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2692, 18 October 1905, Page 23

NEW ZEALAND PRODUCE IN LONDON.

.- (From Oufi Ours Cossespokdent.T LOOTDON, September 1. BCH« Xaikoura has arrived with 34,609 carBftses pi New -Zealand mutton, and the Karainei has brought 39,873 carcases during the week. The C. C. and D. Company, writing to -me this afternoon, say that there is no change in values to report; the demand continues steady, but limited. Canterbury cheep are being firmly held, but the supplies are - small, and there is very little inquiry for them on the market. Light weights can fee quoted at 4Jd per lb, medium weights at

about 4Jd, and heavy sheep at 4d per lb. The staple supply consists, as before, cf North Island mutton, and prices are being well maintained for this class. The value of light carcases is firm, at 4Jd per lb, and the average for medium weight sheep is fully 3|d per lb; heavy carcases can be bought down to 3gd, and ewes command about 3|d per lb. Stocks cf frozen lambs have been increased during the week by 96,979 carcases from New Zealand and 1100 from the River Plate. The trade is steadily decreasing m volume, and prices are rather weaker than were last quotations. Sales are being restricted by some holders with a view to assisting the market, but other importers are still bent on clearing their stocks. Light Canterbury lambs aie scarce, and are worth 5Jd per lb, but- medium weights can be bought at 4|d, and heavy lambs at 4Jd per lb. North Island lambs are not so plentiful ; light weights make s|d per lp, and medium weights 4|d per lb. Forequarters of frozen beef have come into better request, and have advanced to 2Jd to 2|d for New Zealand, while hindquarters are steady at 3jkl to 3|d per lb for New Zealand beef and 3Jd for River Plate. September 9. ■wool. The National Mortgage and Agency Company refei-s to an occasional hardening in values for both merino and crossbred wool. It was ihough't by many people that the declaration oE peace between .Tapin and Russia, might have a weakening effect on markets, but this so fair has not bsen the case. On the contrary, the tone ?s distinctly firmer. It is quite true that several large orcJers recently given out may be cancelled, but, supplies .having been restricted for so long, no difficulty should be experienced in finding oiher ov+lets for these. Again, J Ee general trade of the country will certainly be benefitted by the termination of the war, and the large sums of money which have been more or less locked up will now be released Wool at the moment is TMidoubt.edly wanted, and firm piices at the approaching auctions are confidently exptcted. Advices from the Continent and from America are of a satisfactory nature. NEW ZEALAND MEAT. Messrs Gordon, Woodroffe, and Co. writis that the market for New Zealand lambs continues in an unsatisfactory condition, arrivals being much in excess of requirements. The season is now well, advanced, and. it is to be expected tha/t the consumption will fall off gradually from now onward, although fhia will of course depend somewhat upon the weather. There seems little doubt that arrivals of Australian lambs will be considerable after +his month, and this will probab'y have a weakening effect upon New Zealand lambs. Therei seems little justification, therefora, for holding present stocks for increased prices as some holders ara inclined to do, as, although there may be a slight improvement later on, it is very doubtful whether it will be sufficient to pay the additional charges incurred for storage, etc. Trade in New Zea.land sheep continues very slow, and although supplies are iight they are more than sufficient for present requirements. Light sheep, which were m better request, have been neglected during' the last few weeks, and heavy ,sheep lernain as unsaleable as ever. - What demand there is, however, appears to be for North Island mutton, the demand for Canterbury description being exceptionally limited. The "National Mortgage and Agency Company says that light Canterbury sheep, under 531b, are not so firm owing to the low prices ruling for heavy lambs, and cannot now be qiioted more than 4|d per lb. The 561b to 721b are selling at 4d to 4|d, and heavy carcases, many of which are fat and wasteful, down to 3jjd per lb. North Island sheep are selling at 4Jd for 481b to 561b. Supplies of fiozeri iamb, more especially of heavy-weights, are in excess of demand, and, with fcho season drawing to a close and hevay stocks on hand, hc-Vlers taveF found it necessaiy to reduce further the price by Jd per lb. Canterbury lambs of the 281b to 36ib grade are now selling at 5Jd to sfd; 361b to 421b, 4|d per lb, and tegs at 4|d. Other brands realise about id per lb under these prices. There has been rather a better demand in the market for frozen beef, and prices have ruled firm, especially in ths case of forequarters. There has lately been some trouble with bonetaint in certain shipments from New Zealand, adds this firm, and at times sales of frozen beef have been difficult to make in competition vnth the low prices ruling for chilled Argentine. About 12,000 quarters have arrived from New Zealand during the past thro weeks. A small shipment of chilled New Zealand beef was shipped per s.s. Kadkoura, but it arrived in a more or less frozen condition, and only realised a price slightly over that ruling for frozen beef. A further shipment per Tokcmaru has jusi arrived. I am informed, by Messrs Dalgety and Co. that some very gcod New Zealand porkers, which arrived in London last month, when tho market was at its best, realised Gd per lb, but to-day, owing to a glut of Dutch and American pork, the marked has fallen ijd per lb, though it is thought that a- revival next month will not be improvable. Pork is, however, liable to such sudden fluctuations, both iii supplies; and values, that forecasts as to the probable trend of prices axe very difficult. C.i.f. offers of New South Wales 50 to 60's porkers are being hawked about at 4Jd per lb, but there are no buyers a.t anywhere near this piice at present. DAIRY PBODUCE. In the dairy produce report, which I have received from Mwsrs Dalgety and Va., it is stated that a few sales of the best New Zealand brands of butter, shipment within a month from this date, have been made at Ills (c.i.f.), which shows that some buyers ha,ve confidence in the market for th 3 next two or throe months, but although the position of the butter market is undoubtedly at present statistically a strong one, still it must not be forgotten that the market is now ait a high range of values, and thait any important inijexpected increase in supplies could not faji 1o influence the position, and sooner or later high prices always tend to stimulate production. GRKVS. The National Mortgage and Agency Company observes that on the spot New Zealand wheat is neglected owin°; to tlie superior quality of the new English. There are sellers of shortberry at 28s to 295, and longoerry at 29s to 80s per 4961b. Cocksfoot is fhmly held pwiug to a probable scarcilVi but buyers are

holding ofi meantime as the see<T market is not wanted befcre January. TVLLOW. Messrs Gordon, Woodroffe, and Co. says that the tallow market has been very strong during the past tLree weeks, and at thp on the ?3rd ult. a- further advance of Gd io 9d per cwt too\ place, with the exception of fine mutton. Since then there has been no further rise, but +ho market remains voiy firm, and practically all parcels offarad have been taken at 3a/to rates. The demand for fcrward shipment Las become voiy quiet, md prices have eased Is per cwt, v>ith little or jiu business passing. Stocks have increased since last month by about 2100 casks, which shouicl consideiaCly help tho market during the next, six iveeks or two month's. F;u© mutton tallow is quoted, at 31s per cwt ; good nratton at 30s 1 o 30s 6d ; and fair irutton at 28s to 29s 6d ; fin 3 beef* at 2S& ; good beef at 27s to 27s 6d ; smj fair beef at 26s 6d to 275; mixed good, 27? to 27s 3d; mixed fair, 26s 6d to 26s 9d; and mix^d dark, 24s 6d to 2Cs 6J. NEW ZEALAND FLAX. It ia reported by the National Mortgage £>nd Agency Company that during the past 10 days there ha.s been a better demand for New Zealand flax, and the market, which was picviously dull, has advanced 20s to 25s per ton for all positions. The offers from the colony I have been on a, very moderate, scale, but second-hand sellers have been enabled to obtain the higher rates paid. The stock nontiues heavy, but sales have been ma.de .ii 203 advance, and £29 5s is now asked for good fair. Tow is less inquired for, and is easier. -The sales amount to about 400 tons. Good fair, in dock, £28 10s to £29; fair, ±'2S 10s to £27; August-September and SeptemberOctober, good fair, £29 to £29 as; fair, £26 15a to £27 ss; October-December, good fair, £23 15s to £28 ss; fair, £27. MISCELLANEOUS. According to the National Mortgage and Agency Company the demand for salted pelts has shown no abatement during the last throe weeks, and arrivals find ready btiyers at very firm prices. English pelts are relatively as high as those imported from New Zealand, an<3, although leather-dressers are complamiog bitterly of the extreme prices now ruling, it is not probable that there will be pny change in the market conditions this year. Quotations are: New Zealand crossbreds, heavy firsts, 28s to 38s per dozen ; do seconds, 2")s to 2Ps psr dozen; crossbreds, medium ■substance, firsts, 26s to 32.9 per dozen ; do seconds, 18s to 235; New Zealand merinos — firsts, 15s to 20s; do seconds, 10s to 14s per dozen; New Zealand lambs — firsts, 17s to 230 i)."j dozen; do seconds, 12s to 16s per dozen. A sale of rabbitskins is to be held to-day, when the offerings will include 263 bales from Now Zealand. The market remains steady. During the last three weeks arrivals of frozen rabbits have been heavy, especially in the case of those from Australia, but the devmand has lately shown considerable Improvement, and prices are rather firmer. Th.-> National .Mortgage and Agency Company says that the* consumption is hardly sufficient to absorb shipments as they arrive, but there is no serious accumulation of stocks. Arrivals include 22,369 crates from New Zealand, and 137,444 crates from Australia during the period under review. Top price for New Zealand labbits, pea- case of 24 — large, 2Jlb and up, is Its to 14s 6cb, with 13s to 13s 6d for Australian rabbits of similar description; young New Zealand rabbits, 21b to 241b, arc quoted 1 at 12s to 12s 6d per case of 24; and small ones, Hlb to 21b, at 10s per ca«e of ths same ntrnber.