NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2695, 8 November 1905, Page 22

NEW ZEALAND PRODUCE IN LONDON.

(Faosr Oue Own CosbespokdentO LONDON, September 22. WOOL.

The fifth series of colonial wool pales of the present year opened on Tuesday evening with 9351 bales, including 6548 from New Zca-

Messrs C. Balm and Co. write to me

that the attendance of buyers was fully as large as imiol, and competition spirited. As regards the resuHs they say: ' Wool vplues have again advanced, under the dual influence

of a slightly impioved trade and extreme

scarcity of raw material, and this nothwithstanding the prospect of a large increase in this season's Australasian clip, which will be arriving in the European centres of consuinp-

tion fresly towards the close of the present , year. Indeed, so great has been the depletion I of stocks in manufacturers' hands, whether of coarse or fine wools, during the past few years, that it seems probable that the increase in this season's production of Australasian staple will be absoibed by the trade without any material reduction in values. Merinos meet with a keen demand, and realise prices par to 5 per cent, in excess of those current in July, the improvement being most noticeable in average to good lots of combing length. Superior wools are also the turn dcT-er, but short faulty parcels do not show any appreciable change. The American section of the tradia are again eager buyers of the fine and medium qualities of greasy cropsbreds. Fine descriptions in good condition frequently exceed last sale's rates by 5 per cent., but heavy sorts -are net quoiably higher; med.um growths lealise 5 per cent, and coarse 11 per cent, above July closing values. As regards scoureds and slipes, fine grades have appreciated -Sd, and medium and coarse Jd to ldl per lb. Among South African wools, super Western snow-whites barely maintain previous prices. The market for all other classes, however, is in sellers' favour, particularly shortstapled greasies, which last series were difficult of sale. As compared with July final values, we quote : Super snow-whites, Jd per lb cheaper; snow-whites and scoured, par to id I per lb deaarer; fleece, washed, par; grease, combing, par to |d per lb dearer; grease, clothing, id per lb dearer." NE>V ZEALAND MEAT. "No improvement," Messrs Weddel say, " has taken place in the demand for meat, supplies of pork, game, and rabbits having -now to be absorbed. Marketings of home-fed mutton are not heavy, and values remain steady at 7Jd to Sd for Scotch and 62d to 7Jd for English sheep. The frozen meat markef remains without any special features. Sales of mutton have increased slightly at the lower level of prices current, but the i demand still leaves a gocdi deal to be .desired, 'xhe lamb trade has gone from bad to worse. The bsef market is a little irregxilar, foies being steady, but hinds weak. Arrivals of New Zealand mutton during the fortnight ammuit to 60,000 carcases. The demand for certain grades has shown a slight improvement — in fact, mutton of all kinds has bee-n going a little more freely into consumption. At the same time, this is probably owing t» sales having been made at slightly lower rates, which has induced buyers to operate a little more free'y. Canterbury sheep, under 561b, are quoted at 4d to 4Jd'; larger weights range in price from 3ftd to 3|d. Best brands of North Island nratton realise from 3Jd to 4d, and occasionally 4£d, according to size ; ordinary North Island can be quoted at 3|d io 4d. Ewes are selling in small quantities at 3|d to 3£d."

Arrivals of New Zealamdi lambs number 82,000. " A most unsatisfactory position now prevails in this department," Messrs "Weddel lcmark. " The market has all along been oversupplied with heavy lambs, but the prices demanded had the effect of causing retailers to cease handling lambs in any qiiantity earlier than usual this year, particularly in the provinces. Now that the season is closing, with considerable supplies available, consignees are pressing sales ; but although prices are now at a much lower lever only a comparatively few buyers can be found. Canterbury lambs under 361b cannot now be quoted at more than 5d to 5Jd, the 361b-421b grade at 4£d, and carcases of 421b to 50lb at 4*di io 4|d per lb. Other New Zealand lambs of 30lb to 421b range in price from 4Jd to 4Jc! per lb. . . . New Zealand beef is being sold slo-wly at 2gd to 2id for fores, and 3id per lb for hinds."

It is a some considerable time since the quotations for North Island and Canterbury sheep were on a parity for all grades, and the position may be accepted! as conclusive evidence that the superiority of the Canter-

bury has largely < disappeared. . There 'has-been a curious reversal in the value of light and heavy carcases. The short supply •of medium-weight New Zealands has placed "» premium, on the^heavy Plates, ' and the latter now make up to 3id per 3b, while the light carcases can' be .bought at 3£d per lb. I jaSCELLANEOXTS PHODCTCE. J Grain, Wheat, et:.—" Although there has { been am absence of activity in the market during the past fortnight," report Messrs , Weddel, " there is more disposition to. buy at . about late rate 3. There are continued reports «f damage to the Eussian crop, and India is not "offering wheat, ' while the position in ] America is still uncertain. The preliminary official Russian crop report indicates a somewhat serious position as regards wheats rye, and- oats, which are estimated at 20, 40, and 30 million quarters respectively less than last year. These reports, however, are notoriously unreliable; but, considering theconditions prevailing in that country during the past year, it will not be surprising if the shortage is very serious. There also seems to be a shortage in Belgium, Holland, and Germany, as large quantities of- Russian and Danubian -wheat are being shipped there, •while the shipments to the United Kingdom " are comparatively small. If these countries are all short of wheat, which seems a reasonable conjecture, then there does not appear to be aiy room for fearing a dtecline in prices. Harvest operations have been much more proIrac'ted- than- at.-.,one time seemed probahle. . ■M«ize< has bejen firmer at an advance of 3d to „ 6d -per- quarter./ Barley and oats are v -alsp , dearer to the extent of 3d to 9d per .quarter. j "- "Jpwing to indifferent quality of the • " home-grown ' wheat, 'New Zealand wheat — ex stores-has been more inquired for at the reduced* lesglrof- t prices ,'now asked. We ..quote : | Shdrtberry,- 28s -to 28s"'6d; 16ngberry,-,;228s 4 to^ 295" per, 4961b. In New Zealand oats-^-ex . ■store — ther e- is' -no" change -to report,' but ten- ■■ -dency of'" prices- is firmed: The market for • New Zealancfr beans— ex store — continues firm j , »t' late, rates. Quotations are: New^cfop, -32s : to 33sVold crop, 33s to 34s per 5041b! - There has -been a quieU demand during the past' fortnight A for the ordinary qualities of tallow, and although " values are not quot- > ably lower no business is' possible at the present " level. ' Finest sorts of edible mutton xnd beef continue in good demand at full prices, and at^the auctions on the 20th inst. the one line of finest mutton offered was sold at 3d per cwt advance. Buyers are hoping for lower, prices, and- -at 6d per cwt decline &^ fair business couldi be done, -but so iarj sellers have not met buyers to this extent, 1 hat they* will probably have to do so before any business will be done. On c.i.f. terms there is .little doing, but sellers are prepared to meet buyers to the extent of 6d per cwt. "The market in> salted hides remains firm, ■without" much business . passing."

DAIBT PItODTTCE. According to Messrs Weddel, the demand for, butter has been slow, except for " Choicest " lots of "'• both salt ' and saltless, •which have made full figures — viz., 110s and 114s' per C.W+. There are many lots of secondary qualityfpf both kinds (some allowing signs of storage)^ v are ! Tgellin^"ata44s 7 andl 108s,, but ttadfsTfdr7such.'js 'somewhat' sldw*at' the"* present--mqn»i*itf- The.re;, are -^indications, j hqjw-; ever. ,of iannimproved" demjind^and^a, .cpnsequeiit;nearer'approach in.value^o " Choicest" •go6as. -: :^ -> " '"* <v ' . ; • \ V i September 30. Ths National,- Mortgage and ' Agency Company vinferm-s roe "that the lafe series of wool sales -occupied eight sittings, with a daily average of- 10.378 bales against 10,014 bales at the corresponding series of 1901. " There was an excellent attendance on the opening nigbi," xuns this report, " all departments of the tiade in Europe being in evidence. On the other hand; doubtless owing to the somewhat miscellaneous nature of the offerings, American buyers were fewer than in July. Merino, both greasy and scoured, were wanted, and an all round advance of about 5 per cent, was well maintained right through the .sales. The New Zealand merinos were not so attractive as those offered m July, but nevertheless, taking into consideration the condition, some useful prices were obtained. Scouieds were -in requisition on home trado account, and sold up to 2s Id per lb. The offerings of crossbred 3 amounted to 34,000 bales, and of these a. verj large proportion were slipes. "With' regard to greasy sorts, some of the finest lots were taken for 'the United States at Is 2*d to Is Ud per lb, about July prices. Medium grades were also par to 5 per cent.' up, while on coarse sorts the advance was fully 5 per cent., and ■sometimes' rather more. Sli'pes sold v?ry steadily ait an advance of about 5 per cert., fine lambs showing the greatest improvement. The expectation that prices would show an advance at these sales was fully' justified by the result! Stocks everywhere arc now reducpd to a mininium, and competent authorities give it as their opinion tha/t they have not been so low for 30 years past. This being the case, and should not the general txade of the country meantime improve, it is by no means unlikely j that prices wil continue good through the next

season, notwithstanding the expected increase in Australia. It is therefore in the interests of all thait during the next month's supplies should not be crowded' into the market. A great deal will depend 'on what happens in Australia between i-ow and the end- of the year." Ecvi^whig the sixth series of wool sales, just brought to a close, the New Zealand Loan and Mercantile Agency Company tell me tha>t there was throughout a good attendance of buyers, while competition was general and active, with the result that values for nearly all descriptions ruled in favotvr of sellers. The advance was most marked on coarse crossbred wool, which, as compared with the closing rates of the preceding sales, appreciated 5 per cent, to 1\ pei cent., medium and fine grades and merino (except faulty sorts, which were unchanged) bexng about 5 per cent, dearer. The sales closed with a very firm tone, and thare seems every reason to anticipate a maintenance of the present position in the near future. * As compared with the closing rates of the previous series, Messrs Balme supply me the following current prices for New Zealand and Australian wool: — Merino, in grease, superior, par to \d per lb dearer (current price Is 3d to li s£d); merino, in grease, average to good, - £d per lb dearer (current price ll^d to Is 2^ci) ; merino, in grease, poor condition, par to id per lb dearer (current price 8d to lid) ; merino, in grease, inferior pieces and looks, par to Id per ' lb dearer (current price 3|d to 8id) ; merino, iscouTed, super, Id per lb dealer "(current .price- 2s OJd to 2s 3d) ; m&rino, scoured, average to good, Id to lid per lb dearer (cur- ; rent price ls-BSd to 2s; merino, scoured, inj'ferior, §d per lb dearer '(current price Is l|d to 1 '-Is' 8<j) ; merino, secured, faulty pieces , and looks, pur (current price 7Jd to Is 0£d) ; merino lambs' wool, m grease, superior, par (currant f -price ll^d to Is 3d); do medium, per lb I 'dearer- (current -price<7£d to lid); ,0o inferior, [ jd per "lb dearer (current "price 5d to 7Jcl) ; crossbred, in grease, fine, par- to |d per lb ; dearer "(current price lijd to Is 3£d); oross- ! bred, in grease, medium, par to id per lb [ dearer -(current price lid to Is 3d) ; crossbred, in grease, ccwrse, §d to Id" pejj lb dearer (current price lOd to? Is Id) ; -crossbred, in grease, inferior pieces and locks, -Jd per lb dearer (current price 5d to 9id; crossbred lambs, in grease, «d per lb dearer (current price BJd to Is Id)); crossbred, scoured, <me, id per lb dearer (current price Is 5Jd to Is 105 d ); crossbred, scoured, coarse, Ad to Id per Ib dealer (current price ll£d to Is 4£d) ; crossbred, sliped, fine, id to Id per lb dearer (current price Is o|d to Is 6d) ; crossbred,- sliped, coarse, Jd to i id per IB dearer (current price lOJd to Is 3*d). jr.,- The sixth .series of wool sales -is arranged io open on. the 28th November, the list of arrivals being closed at 4 p.m. on the 20th of ruiat month. To date the gros3 arrivals are 4852 bales (552 from New Zealand), of which about 1500 bales of Australian and 500 bales of South African have been forwarded direct to ?he manufacturing districts.

WOOLLED SHEEPSKINS. The seventh .aeries of public sales of woolled sheepskins took place the day before yesterday, when 40G1 bales were offer&d, New Zealand lteeJddng the list with 1167 bales, West Ausoccupying second place with 1018 bales. t^Megsrav Charles Balrae afed Co. tell me that i tlie.% attendance of buyers was fully as. large ai' usual, but competition was-marked'by conj ■ -s\tterable hesitation. Full-woolled merinos * and'cro%sbreds ruled, from' par to 5 per cent, f '"cheaper. As regards the,shorter' growths, however^ prices for ruerinos showed no change from previous rates, while crossbreds were occasionally s' per cent, dearer. As compared' with the values current ait the sales held on the 17th Axigust, Messrs Balme quote: — Merino, dull io three-quarterwocllcd, par to 'id per lb cheaper ; merino, half-woolled, paa* ; rcermo. short and shorn, par; crossbred, fine, full to three-quarterwoolled, par to Jd per lb cheaper; crossbred, coarse, full to threequarterwoolled, par to Jd per lb cheaper; ciossbred, half-woolled, par to |d per lb dearer; crossbred, short and shorn, par to £c! per lb dearer; la-inbs, par to Jd per lb chea-per. The nest sale of woolled S'heep&kins will be held on November 10, and the last for the current year on the 21st December, while the Bth February* 1906, will witness the opening sales for that yea.r. Pres-ent quotations ■are: Merino — full-woolled, 7|d to 9Jd per lb; Half to three-quarterwoolled, 7id to B|d; short and shorn, 5Jd to 7£d; crossbred— -full-woollo'.l, iine, Bki to 10id ; full-woolled, coarse, BJd to lOJci; half to ihiree-quarterwoolled, fine, I\d to 9?d ; half to three-quarteiwaolled, coarse, 7Jd to 9£d; short and shorn, 6£d to~7id. I NEW ZEALAND MEAT. f The New Zealand Loan and Mercantile I Agvncy Company says that tho New Zealand mutton trade has been extremely slow, and values of Canterbury sheep are id per lb iower, those from the North Island being ivnohangedl. Australian sheep, the quality of which murks an improvement over last season, so far have arrived in a bright condition, and meet a fair sale at slightly lower rates. Car>tea:bury sheep are quoted at 3|d to 4Jd per lb; North Island at 3%d to 4d per lb. The same report states that supplies of lambs arc much in excess of present requirements, anci, with holders pressing values of CantT-

bury descriptions for the last three wee^ks mark a decrease of Id per lb. North Island lambs, which are in smaller supply, make very nearly the same prices. Canterbury lamb, all weights, is quoted a-t 4d to 5d per lb; and Norl'h Island at 4d to 4|d per lb. There has beeai only little inquiry for New Zealand beef, and for the few quarters sold, the New Zeiu land Loan and Mercantile Agency Company say that about late values have been obtained. The experiment of bringing 500 quarters of chilled beaf by the Tokomaru from New Zealand has proved, says the same company, "a disastrous failure, the whole of the cargo arriving in a bad condition, and being condemned at ship's side."

I'AIEY PItODTJCE.

It i 3 remarked by the New Zealand Lean and Mercantile Agency Company that, during the last 10 days a batter felling has prevailed in the butter market, and prices have now more !han recovered the decline. The outIcok for tho next three weeks is_ decidedly strong, and it is expected :.hat value-s will rise futher. Salt Australian of choicest quality is quoted ait 108s to 110s per cwt, and choicest Australian sapless at 112s to His per cwt. The tono of the cheese market is firm, and the consumptive demand is good. New Zealand cheese is not now receiving the sam 3 inquiry. The attitude assumed by factories has not fcendrd to promote business.

I heaa- from tho National Mortgage and Agency Company that cheese remains steady and firm all round. Opinions differ very much a^ to whether there will be an advance during the next two or three weeks, but the speculative element is so strong that we would not ba at all surprised if / & slight advance were made. The legitimate trade, however, is from hand-to-mouth,' and the retailer is only taking just enough for his immediate wants.

MISCELLANEOUS

-I hear frcm the New "Zealand Loan and Mercantile Agency Company th«* a fair amount of business has been passing in wheat. That fiom New Zealand, to compete with English qualities, has been selling at from 28s 9d to 31s per 4961b (c:: store). The oat market is firm, with a good demand for all qualities, New Zealand sparrowbills being quoted at 19s 6d to 20s 6d, with G-artoiis at the same prices, tho finest qualities being quoted at 21s 6d to 22s per 3841b. Beans and peas are- firmly held, with little offering. New Zealand maple peas are quoted at 35s to 40s per 5041b, and blue at 29s to 30s. The market for cocks-foot is quiet, with very little busines passing, and prices have an easier tendency.

New Zealand wheat sells rather slowly in competition with the New. Emgijsh at 29s to 30s- par 4961b (ex store) reports the Nationai Mortgage and Agency Company. Oats have shown some improvement fox the commoner sorts, and New Zealand oats meet with rather it.o-re inquiry. Beans are very firm at 32s Gd to 34s 6d' per 5011b (ex store). Peas are fairly steady. Maples meet a slow demand at about 36« to 38s per 5041b (ex store). Cocksfoot is qiiiet bui firm. New Zealand description is nominally quoted at 46s to 54s pel- 1121b for 141b to 181b seed. There is, however, little business passing.

A,t the last three public auctions of tallow 3745 casks have been- offered, and lSOS^Jiave been scld. The "National Mortgage and Agency Company reports- that at thefirst series of sales there wa.s a good" demand at firm prices, but subsequently the inquiry, fell off, wi,th .the result that lor the past fortnight .practically no business has b'aon doner, with the exception of best nralton gnd beief for edible purposes, which, by reason of ihe short supply, command full values. Continental purchasers have been, unwilling to follow the recent rise ia prices, chiefly attributable, to Russian orders. At the sales this week, although edible qualities were m fair request at firm prices, common descriptions were fully 6d per cwi lower. Home melt waa fairly plentiful. The market closes with a- moderate inquiry at lower prices. The shipments from Australasia during Axigust were advised at 3630 tons, as compared with 2800 tons for tho same moiith last year. Imports during the last three weeks have included 1874 casks from New Zealand.

Consequent upon a firm tone in the Manila market, there has been a good demand for JS'ew Zealand flax, «nd the New Zealand Loan j and Mercantile Agency Company srtates that ; prices have advanced 20s to 25s per ton. A fair business has been passing, and although the offerings from the colony have been somewhat restricted, many parcels in second hands have been resold at the advance. At the close there is a good inquiry foi October-Decemlier shipineu fc. "Good fair" spot is quoted pt £'.iO to JE3O ss; October-December, £30 10s; Decem-ber-Fobiuaa-y, £30 os; fair, spot, £28 to £18 ss; Ootober-Decembar, £23 10-s per ton (c.i.f.). Fair current Manila is quoted at £38 10s per ton (c.i.f.). ;

At the last public sale of hides 920 salted descriptions from Australia a.nd New Zealand were offered, of which 317 were sold. The National Mortgage and Agency Company tells r.\& that New Zealand bulls realised 4d per lb. The supply was mainly of excess weights, which were saleable at previous sales' rates. One thousand three hundred and' .sixteen salted caK were alsn offered. b«t the-*e failed to reach

sellers' valuations. For shipment the denial' d has been active, a±xl values have advanced fully Jd per ib, but shippers' quotations exceed the advance, and business is again checked. Business at ths last auctions of leather was restricted by firm limits. Heavy sides from Wellington "sold at 9Jd; light at lid to Hid ; bulsl at 3d, first dressing sides at 15id, second do at 131 d per lb. These were full values for regular lines of good tannages. The demand has been strong, and values have been well upheld. Nine hundred and ninety-one sidc-<3 were catalogued, but only 171 were sold. There was a good demand for basils at last prices io 4<l per^lb advance. AH the 6006 skins offeied were disposed of. Arrival* in the market have bc-en very moderate, and, with a good trade ruling, values have been fully supported.

It is observed by the National Mortgage and Agency. Company that the season for pelts is drawing to a close, although arrivals have been considerable during the past three weeks, and these have met a strong demand at fully late rates. "English pelts continue to advance in lyrioe, and high as >are the prices now ruling for all classes of pelts, it does not seem probable that there will bo any change m the near future. Quotations remain unchanged.

There was a lull attendance of buyers, both home and export, at the last sale of rabbitI skins, and from the oiitset, competition was very keen at a substantial advancs m valuos. ! r JTie National Mortgage and Agency Company states that 263 bales of best selected New Zealand skins were not available. Fair to good . winter and incoming qualities were in active, request at fuly 2d per lb advance; middling season gained about Id per lb; and low grades •srid fleshy Id to Id per lb. Small axid 'suckers sold firmly. Black and silver grey, suitable for furriers, showed no material change; cutters' sorts were Id per lb dearer. Top quotation for good 'to prime 'season New Zealand rabbitskins is lp 9d ie Is lid per lbj^fair to ,gocd season (mixed thin and stout pelts), Is 6d to -Is 9d per lb.