NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2803, 4 December 1907, Page 23

NEW ZEALAND PRODUCE IN LONDON.

(FSOK OUB OWX CojUUtSFOWDBHT.) LONDON, October 18. WOOL. It is mentioned by M«sers W. Weddel and Co. that since the close of the wool sales on the 4th inst. there has been a fair amount of inquiry for merino, mostly on Continental aoccunt, but, as may be readily supposed, stocks available for disposal now by private treaty are of slender dimensions, the prices current at the recent sales having been generally accepted. All available information goes to show that greater interest is still being taken in merino than in coarse wools, fashion being distinctly in favour of the fin© goods. Crossbreds, as a matter of fact, have been rather quiet of sale during the past fortnight. In Bradford business has been of a somewhat dragging natnre, and prices for 40's tops, although quoted steady, have probably only been maintained in many c«s«9 with difficulty. Consumption, howevar, still continues heavy, so that on the face of it there is no reason to anticipate a lowering of value?, stocks being by no means heavy, and the fresh New Zealand clip is still some little way off. SAIBT PHODUCB. The market for colonial butter has been brisk, and Messrs Weddel write that prices for fresh landed newly-made, butter hare advanced fully 2s per cwt, and last year's 6tored butter 4s per cwt on the week. New Zealand last season's make is in small compass, and priceß are nominal. The first arrival of new season's is due in about five weeks. Shipments from Australia total 25,000 boxes, consisting of 11,400 in the Ayrshire, 1200 in the Devon, acd 1 12,500 in the Britannia. The market for foreign butter has been full of interest this week, the Siberian business having flhe-wn special activity, and values haviDg risen for this variety about 4s per cwt. Danish has advanced by 4s 6d per cwt, and the market keeps up. French sailed butter has been advanced by 4s p«r cwt ; " choicest" quality of salt is now selling- at 116s to 120 a per cwt. Since September 1 to October 12 the total import of butter into the United Kingdom has averaged 500 tons a week below that of the same period last year. The rapid and large advance which, hae taken place in values lately is driving tbe prices to a dangerous height. It will be remembered that last year and the year before, when prices reached their present height, tho trade in margarine mixtures became very active, and the valuo of butter came tumbling down; it looks as if the dealers in margarine were again entering upon a brisk and prosperous period. Wi th regard to. cheese, .Messrs Weddel note that trade this week haa been steady at uncharged prices. It is believed that largo stocks of English, Welsh, and Scotch cheese are now in the hand* of farmers, but must be placed on the market very ehortly. The total imports of cheese from September 1 to October 12 were 3500 tons less than in the same period of 190 G.

OHAI^. Meesrs Weddel sas that Xa* Zealand

■wheat would find m good market at the pr«* sent time, but unfortunately there are no stocks on hand. There are no New Zealand oats. For peas the market remains rathei quiet, with very little demand. New Zealand maples are quoted at 86s to 44s pet 5041b. TALLOW. There has been a good demand for tallow during the past fortnight, and Messrs Weddel 6tate that prices may be quoted 6d to la per cwt dearer. The offerings at pubiio auction* were 4129 casks, and most of these were cleared at and after the sales. Alt descriptions have been in demand, but good" coloured, mixed, and hard mutton kinds were in particular request, probably for Russia-. Trade in edible qualities has ulso been good, \ but is again rather slow, and, while edible mutton tallow has improved in value, no advance has been available in the case of edible beef. On c.i.f. terms s> fair business has been done without any material change in values, the nearer positions being more in request. Spot quotations for New Zealand sorts. .Are: Mutton, good to fineest, 84s to 35s 9d per. cwt; dull to fair, 32s 6d to 335; inferior, 31s to 31s 9d. Beef, good to finest, 32s 6d to 35» per cwt; dull to fair, 83a to 32s 3d ; inferior, 30a 6d to 31s. NEW ZEALAND MEAT. During the past two weeks 106,000 ca*. cases of New Zealand mutton have arrived. The market has been very dull, and sales have been very difficult, even at lower prices. The weakness mentioned previously by Messrs Weduel' has been apparent, 'and sheep cfi best brands have been on offer at much reduced rates. The lower offerings apply, nofl only to Canterbury sheep; but North Island mutton has been sold at proportionately low> prices. Small Canterbury sheep are- gelling} at 3|d to 4d per lb, medium-weights at B}cl per lb, while the heavy carcases are onlvi realising 3Jd to Bgd. Best North Islancf | sheep are quoted at 3Jd to 3jd, and secondary! [ mutton at BJd to 3£d per lb. Ewes are j selling at 2fd to 2gil per lb, while a few prim» small sheep realise 3d per lb. At Smithfield, lambs continue to meet with a fair demand, and the reduced supplies coming to hand are insufficient to cope with the present rate of consumption, and consequently stocks in store are being drawn on. There is, however, a marked falling on in the demand from the provinces, whicb is only to be expected at this time of the" year. In consequence of the probability oi the available supply front New Zealand being rather short, and the lateness of tbe Australian season, there was a good speculative ' demand during the earlier part of the part fortnight, and prices showed signs of hardening, but tbe general slackness of trade aff Smithfield during the last week put a temporary check on the advance, " and Messrs Weddel write that prices closed practically unchanged, with the exception, of those foe the heavier grades, which show a fractional advance. Light-weight lambs are not now" meeting with the good inquiry until recently experienced, the present demand being mainly

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for the 361b to 421b grade. A feature of the market has' been the inquiry for the 421 b to jO;b grade, which previously was difficult to aell, and, being in* rather short supply, prices Jiave advanced id per lb. Supplies of North Island lambs ara now praotically finished, the arrivals consisting principally of prime Canterburys and Southlands. The market closes firm at the following quotations: Prune Canterbury, 281b to 861b, 5 5-16 d; 361b to 421b, od. Southland descriptions may be quoted at id per lb under Canterbury sorts. Second quality lambs are selling at 6d to C l-16d. Arrivals from New Zealand during the fortnight have been 69,000 carcases, 11,000 carcases having come from Australia and 200 carcases from the River Plate. The C.C. and D. Company -announces the arrival, during the current week, of the Indralema and Kumara, bringing about 70,000 carcases of New Zealand mutton and 41,000 carcases of New Zealand lamb. The lower prices lately reported for New Zealand mutton attracted a little more demand, and the C.C. and D. Company mention that tiiese •beep are now having their fair share of the trade at a normal margin over quotations for River Plate meat. North Island sheep «re quoted at 3£d to 3Jd per lb, and eeem to have touched bottom. Canterbury descriptions show a slight decline, and range front Sgd to 4d per lb, according to weight. Lambs •re still selling very well, and the stocks of good light carcases have been reduced 1o •ni&H cony>ass.. Quotations show practically Do change, and the inferior grades command prices very close to those obtained for favourite brands. Good light Canterbury lambs are worth up to sjd per lb, and medium weights, s|d to s£d per lb. North Island lambs are selling at 5d to sid per lb. The demand for beef has been slow, with weakening prices, and the inferior chilled beef on the market has interfered with the trade. New Zealand hindquarters are down to S|d per lb, and forequarters 2|d to 2Jd. Fresh arrivals include 6829 quarters from JJew Zealand, add 9396 quarters from AusSlia.