NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2719, 25 April 1906, Page 9

NEW ZEALAND PRODUCE IN LONDON.

(Fsou Oun Ovrx Cobeespokdzkt.) LONDON, March 9. •WOOL. I learn to-day from Messrs TP. Weddel ard Co. that during the past fortnight the wool market has, if anything, gained in strength. All grades and conditions of wool have moved a turn against the buyer, and both at home and on the Continent the activity in practically every branch of the industry has been most marked. Raw wool is wanted everywhere, and it is now evident that stocks of u'l kinds must have been reduced gradually during the past 12 months to such a low level that any expansion in the consumption ci goods, such as is being now experienced, was bound to be severely felt With the demand apparently overtaking the production, no anxiety should be felt as to the course prices will follow at the coming series of sales; indeed, for the remainder «tf JkU *r*wn. —

that is. up to the time when the further clip comes on the market — all wools should be good property. "Very few transactions ha\e been put through this xnssket lately, owners preferring to await the public auctions, the arrivals for which are somewhat smaller tha>) at one time seemed likely, owing in some measure to a mishap to a steamer with 9~n important London xiargo on board. GEAIN. Stocks of New Zealand wheat are exhausted, and quotations are nominal. The market for New Zealand oats is quiet, ajxl 6d per quarter easier, owing to large offerirgs of American description. Messrs "Weddel quote: Good Canadians, sparrowbills and Gartors. 24s to 25s per 3841b; duns, 19s to 20s per 3361b; and Danish. 16s 6d to 17s 6d per 8201b. The market for New Zealand beans is steady at the quotation of 34s to 33s per 5041b. TALLOW. There has been a steady demand for li;e lower and medium qualities of Australasian tallow during the past fortnight, but for mutton there has been little demand, while good mixed descriptions have also been dull of sale Messrs "Weddel further say that finest mutton is neglected, only retail quantities finding buyers at 32s to 32s 6d , the value Jn lines cf 50 to 100 casks is not more than 3Cs per cwt. At the public sales 2287 cask 3 haw been offered, but only some 834 were sold, s»t late rates to 3d per Vwt decline. To arrive there has baen » moderate business passirg in good coloured mixed at 263 6d c.i.f., while 50 tons of fine New Zealand mutton tallow have changed hands in a near position ai 29s c.i.f. The February shipments from, the colonies are cablad ss 3900 tons, making a total to date of 7100 tons, against 6200 tons in the sarca period of last year. DAIHY PRODUCE. According to the report which has reached me from Messrs W. Weddel and Co., the demand for New Zealand and Australian butter has been gocd. but supplies have be<>n abnormally large Some of the agents, in face of the ltrrge supplies, forceS sales and brought down prices without clearing their stocks, and thus made, the sales more difficult. The quality of mush ■ of the Queensland, New South Wales, and some of the Victorian butter is very inferior,- and the prices asked are far too hi?h as compared with ihoee of the strictly choicest Australian brands. The quality of the choicest New Zealand butter is most satisfactory, and il i 3 worth easily 4s to 6s per cwt more than Australian. Of coxirae, the Australian season is nearly ovar, while New Zealand is barely past its prime Unfortunately the large supplies of inferior Australian are not only dragging down *he prices of choicest Australian, but also those of New Zea-land. The great scarcity of u~salted butter is causing an absolute record difference in price between itse'f and salted. The difference amounts to 6s to Ss peT cwt over salted. Prices this week have b»en most irregtilar, and have been governed by the timid or confident holder. The average price of choicest Australian salted to-day is 100s, with 102 a for fancy brands, against 104s to 105s last week. But some holders have forced sales at 98s to 100s. New Zealand choicest salted is making I<Mb to 105s. Unsalted of bcth kinds is bringing 108s to 110b. Messrs Weddel add that Argentine butter is selling at 105s and lOSs for salted, its paler colour giving it a 3s advantage over New Zealand in ths noithern markets. It is strange t-.-note that last year at this time Danish butter was only about 2s to 3s above New Zealand, while tbi<s year it is 10s to 12s above it. There has been a good trade for New Zealand and Canadian cheese this week at an advance cf Is per cwt. Choicest white Canadian is making 63s to 6is per cwt, ar.d New Zealand 62s to 635; choicest coloured Canadian is selling with a strong market at 65s to 66s per cwt, and New Zealand at C3s to 64?. Arrivals of cheese from New Zealand are going lapidiy into consumption. NEW ZEALASD MEAT. Importations of New Zealand mutton during the fortnight amount to only 34,000 carcases. The demand is still slow, and the short supply, especially from the South Island, constitutes ths sole element of strength in this department of the trade. Messrs Weddel leport that certain retailers must continually use Canterbury sheep, and from thc?e buyers slightly higher prices have been demanded and obtained, in spite of the cheapness of Australian mutton and stored. New Zealand lambs. So small are stocks of Canterbury sheep that quotations are practically nominal at 4Jd to 4gd per lb for carcases under 641b, and 4d to 4Jd per lb for heavier weights.^ No Southland- sheep are available. Best North Island mutton realises id to 4£d per lb, Vut carcases of secondary quality and heavy weights are qiioted down to 3gd per lb. Ewes are being sole] at about 3d to 3|d per lb. Arrivals of lambs during the pa=t fortnight include 67,000 carcases from New Zealand. A spell of unusually warm weather for the time of year has had a beneficial effect upon the consumptive demand for lambs, more especially at the present level cf quotations. Even the increased rate of pale, however, is not sufficient to cope with accumulated stocks, and in the meantime no improvement can be reported in prices of Australian lamb?, while in the case of the new .season's New Zealand lambs some reduction has taken place from last prices. There are still a few old season's New Zealand lambs on offer, but they are difficuH to sell even at 3id to -l£d PCT lb. The later arrivals of new season's Naw Zealand lambs have not all been of the same good standard of quality as those previously received, and a number of carcases coming forward under secondary brands are of really inferior quality. Importers have consequently found it impossible to maintain prices at the level of those obtained for the earlier shipments, more especially in view of the large premium demanded for these lambs as compared with choicest Australians. Messrs Weddel tell me that best new season's New Zealand lambs realise from 5Jd to 5Jd pel 1b; others from 4£d to s£d. The few River Plate lambs now arriving are being marketed in the piovmces, and, having regard to their quality and the position of the market generally, the current prices of 3Jd to 3gd are comparatively good ones. The demand for frozen beef-Jias received a serious check owing to the low prices row current for chilled beef. Arrivals have in'•"Jjjdfd 100.Q quarters from New Zealand and

caaC s^ l y»i!»iL^»t l li t y,7^j:.''jß7r-fTTTS'TBPBa;S<S^J.UPLrtiaBEBia 29,000 quarters fiom the River Plate. Quotations for New -caland beef are nominal at 2^d to 2|d per lb for forequarters, and 3id. to Sid for hindquarters.