NEW ZEALAND PRODUCE IN LONDON. (From Our Own Correspondent.) LONDON, June 30.

Otago Witness, Issue 2734, 8 August 1906, Page 22

NEW ZEALAND PRODUCE IN LONDON. (From Our Own Correspondent.) LONDON, June 30.

WOOL. It is noted by the New Zealand Loan and Mercantile Agency Company that there is no material change to report in the position of the wool market for the raw material. There has been some little inquiry privately for the few lots sold fully late rates have been paid. Rather a weaker tone has of late been manifest in Yorkshire, and some slight concession in prices of merino tops is reported, but on tho Continent the position is very firm.

Although the wool markets are not quite so active as they were a month ago, the National Mortgage and Agency Company say there has been a strong and steady undertone. Users of crossbred wools have been hoping that as the home-grown wool was placed on the market some relief would be afforded them in the way of prices, but although a good deal has already found buyers, many of the farmers are holding out for extreme figures. At the Leicester fair on the 19th inst. a good ciearance cf the offerings was- made, the average price obtained showing a rise of exactly 10 per cent, compared with last year. Recently there has been a slight weakening in values of low crossbreds in the Yorkshire market, but this set bock is probably only temporary; naturally, with the present high values, the market is particularly sensitive to such fluctuations. On the Continent markets have been devoid of any pronounced feature, but stocks over there, as here, are being well used up, and business, if not easy, is healthy and sound. The total to be available for the July sales in London will bo a good deal short of what was at one time expected, and this fact will help in imparting strength to prices.

With reference to the last sale of woolled sheepskins, Messrs Gordon, Woodroffe, and Co. point out that owing to a very large proportion of the pelts being short-woolled, prices for this description eased off to the extent of 5 per cent, to 7 per cent., while merinos and crossbreds of combing length were par to 5 per cent, cheaper.

NEW ZEAXAND MEAT.

Once agnin a very slow trade has been experienced for New Zealand mutton, and ■with supplies more than sufficient for present requirements the New Zealand Loan and Meicantile Agency Company say that late rates have been with difficulty maintained. Heavy sheep weighing 8/10 stone are particularly unsaleable. Canterbury sheep are quoted at 3gd to 3Jd per lb, and North Island at 3fcd to 3id. Duiing the early part of the last three week* the trade for New Zealand lamb waa somewhat slow, but latterly, with a change to warm weather, the demand has shown improvement, and this week prices at th« close are Jd per lb firmer at the quotation cf 4gd to 5Jd per lb for Canterbury lambs, »nd 4id to 4£d per lb for those from the North Island. New Zealand beef has met with a poor demand, and forequartors, iii sympathy with the lower prices ruling for River Plate beef, have declined about Jd per lb.

Arrivals of mutton from New Zealand during the last three weeks have consisted of 201,270 carcases. The National Mortgage and Agency Company report that although stocks are not excessive in store, the demand has not been equal to the supply, and consignees have continued to press sales. One explanation of the slow demand for New Zealand sheep is that butchers are pushing the sale of lamb at the moderate prices still ruling, and consequently using less mutton. Really prime Canterbury sheep are not plentiful, but realise no more than 3|d to 3Jd per lb under 641b weight, while heavier carcases are selling at 3gd to 3&d. There are no Southland sheep on offer. The bulk of the supplies consist of North Island sheep, which have lately been pressed for sale at the same price as River Plate mutton, and occasionally rather under the quotations for the latter. Best, brands are quoted at 3Jd per lb for 481 bio 561b, 3gd per lb for sClb to 641b. and 3Jd per lb for 641b to 721b. Ordinary brands are freely offered at Jd per lb under these prices. Ewes are selling at 3d to 3Jd per lb. An enormous number of New Zealand lambs have been going into consumption every week, and, in spite of the heavy arrivals, prices are firmer with an upward tendency. Atrivals of lambs from the colony have totalled some 403.225 carcases during the last three weeks. DAIRY PRODUCE. The National Mortgage and Agency Company report that the demand for New Zealand butter continues very brisk, and this firm remarks : " This is not to be wondered at, as the quality is extremely fine." Finest salted New Zealand is quoted up to 106s. Shipments of butter lately to hand from Australia have turned out very well, and the butter generally has given satisfaction, but the season is now practically over. Although new Canadian cheese has dropped to the extent of 4s to 5s on white and 2s on coloured, New Zealand cheese, which is selling steadily, remains about the same as it did three weeks ago, with the exception of a little easier feeling on coloured. The quotation for white is 64s and for coloured 61s and 625. GKAIN. A 'moderate business has teen passing in Australian wheat for arrival, and 81s per 4801b c.i.f, is the value of Victorian cargoes off the coast. New Zealand wheat is quoted at 31s to 31s 6d for long-berried, and 30s 6d to 31s for short-berried. The oat market is quiet at about late rates, fine qualities meeting a good inquiry, but common sorts are neglected. The following are the quotafions given by the New Zealand Loan and Mercantile Agency Company for New Zealand oats: — Sparrowbills, 22s 6d to 235; finest, 2is to 24s 6d ; Danish, 19s 6d to 20s. Beans are steady at about 348 to 365, f.a.q., for New Zealand sorts, but values for peas are rather easier at the quotation of 40s to 45s for Maple peas and 35s to 40s for blue peas. The market for cocksfoot is in a very stagnant condition, as is customary at this season, and no transactions have taken place. Operators are awaiting the advices as to the Continental and American crops, and they will not place their orders until these arrive.

TALLOW.

There have been three public auctions of tallow si'ice the departure of the last San Francisco mail, and at these I learn from the New Zealand Loan and Mercantile Agency Company, there has been a fair demand. The principal inquiry has been for the inferior descriptions-, and these have appreciated in value about 6d per cwt, while prices for the better sorts tend m favour of buyers. Finest mutton is still difficult of sale, and probably to place any quantity some concession in price would have to be made. The tone of the market is quiet, as 19 customary at this season, but, although the home melt is plentiful, the supply of tallow available is not great, and the New Zealand Loan and Mercantile Agency Company hardly look for any material reduction in rates in the near future. In Australasian sorts there has been a good inquiry at 28s 6d for good mixed, 28s for fair, and 27s 6d per cwt, c.i.f., for "no colour," but the market closes very dull. Quotations are • Finest mut*on, 31s to 325; fair to good, 29s 6d to 30s 6d, dark to dull, 27s 6d to 28b Gd ; pdible beef, 29s 6d to 31s; fair to good, 28s 3d to 295 ; dark to dull, 27s to 28s ; and good mixed. 23s 6rt to 29s per cv t. PELTS. It is noted by the National Mortgage and Agency Company that the market for hides 19 quiet, sellers prices being much above the ideas of buyers. At the public sales on the 21st inst. 219 hides were offered, and 123 were sold ; 310 i-alfskins were catalogued, and 172 were cleared at prices ranging from s£d to 6£d pei lb. No Australasian leather was available at the last sales held on the 22nd inst. There was an active demand for basils, all the 4704 skins offered being sold at full prices. Best strained skins are quoted nominally at 20d to 36d per lb. In the absence of sales, there is nothing of interest to report in regard to rabbitskius.

Arrivals of salted pelts during the past three week's have been on a large scale, and these have met a good demand at full prices. The N.M. and A. Company and Messrs Gor-

don, Woodroffe, and Co. state that tire market

for lamb pelts has been helped by the ex-

trem-ely high prices ruling in this country for domestic iambs, which have caused tanners in this country to place important orders for New Zealand lambs, these being relatively cheaper than domestic. Some pi the largest users of New Zealand lambs in America are still keeping out of the market, claiming that prices are too higii, but it seems doubtful whether they -will be able to do better later on. It is possible that the result of their coming into the market later on to cover their requirements may even force prices higher. Sheep pelt 3 are firm, though splitters still complain that they cannot sell their fleshers at old prices. The following are the quotations for New Zealand pelts:—Crossbreds, heavy firsts, 34s to 46s per dozen ; do do, seconds, 26a to 34s per ''dozen; do, medium substance, firsts, 30s to 42s per dozen ; do do, seconds. 22s to 28s per dozen ; merinos, firsts, 17s to 23s per dozen; do, seconds, 12s to 16s per dozen ; New Zealand lambs, firsts, 21s to 26s per dozen ; seconds, 14s to 19s per dozen. NEW ZEALAND FL\X.

According to the New Zealand Loan and Mercantile Agency Company, a fair business

has been tiansactcd m New Zealand flax,

mostly in second-hand parcels, the inquiry being stimulated by the better Cieinand for Manila and Mexican sisal. The market closes fiim at fully late rates. ' Quotations are: Gcod to fair spot, £32 15s to £33; May/July, i' 32 15d; October/December, £32 10s; fai<spot, £31 ; June/ August, £31 , and fair current Manila. £.2 15s per ton. c.i.f. A better demand for tow at £12 per ton, c.i.f., is icported. •