NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Volume 06, Issue 2899, 6 October 1909, Page 23

NEW ZEALAND PRODUCE IN LONDON.

(Fsom Odb Own Correspondent.) LONDON, August 27. WOOL. The firmness of the wool market mentioned a fortnight ago by Messrs W. Weddel and Co. has been fully maintained, and prices are stiffer for practically all kinds. Merinos, in spite of their high level of values, continue to be_ the more actively inquired for, and there is a steady consumption going on all the time. Actual sales will, perhaps, not amount to very much, as the market, even for this time of year, is bare of stock, but 6pinners, who are well booked up to the end of thf» ! year, are taking all they can get, and both at Home and on the Continent this branch of the trade is very biasy. In crossbred wool. Messrs Weddel say there has, been considerable activity in all fine and medium grades. Americans remain eager buyers of all suitable raw wools of these descriptions, and latterly there has been a distinct improvement in tho coarser qualities. " Khaki " contracts of somp importance have been placed in Yorkshire, and altogether the outlcok is promising for holders of all kinds of - raw wooL Considerable business has been transacted in the manufacturing districts at advanced prices, according to the New Zealand Loan and Mercantile Agency Company. A firm tone has prevailed for some weeks past, and there is a good jnquiry for the raw material, but, with most holders preferring to wait for the sales which are to open on- the 21st .September, only about IDOO bales have been placed since the close of the last auctions. The ~ National Mortgage- and Agency Company of New Zealand reports : — " The last three weeks have witnessed a gradual improvement in the position of practically all kinds of wool. Merinos, under a steady consumptive demarnd, on the part of spiniiers especially, have been more aiKJ mova in favour The cheap lots, which for one reason or another were being hawked round, have entirely disappeared, and would-be buyers are now faced by holders who. confident in the> satisfactory position of the produce, aro j 6ianding out for the last farthing/ The ! market, of course, at this between-seasons i part of the year, is rather bare of stock, so that actual sales do not amount to great weights, but one way and another a very fair business has been transacted, and the outlook is promising. | " Fine and medium crossbreds have been j meeting with a good deal of inquiry, and | Americans have all along beer caper i buyer* of anything suitable in these descriptions. Their persisient demands during the pa6t six months have, however, cleaned the market up pretty well, and any lots that are left can command almost fancy prices. The coarser 40's and 36's have latterly been attracting considerably movs attention, and more money can be made for them than was the case ten days ago. Slipes aw not so easy to cell as greasy goods. although a very fair | ' khaki ' order recently placed in York- ; shire may do something towards lifting i values a little." GHAIX. | Trade in English wheat has been extremely slow, and prices are 3d to 6d per quarter lower. Millers continue to buy from hand to mouth, and speculative operations are conspicuous by their absence. Messre Weddel state that prices for New Zealand wheat have receded fuly 2s 6d on the average, and can now be quoted at only 42a to 43s for longberry and 41s 6d to 42s 6d for shortberry, per 4961b, ex store. Present offerings of peas meet with a fair inqujry at about 46s for New Zealand and Tasmanian Maples. For Npw Zealand oats the demand is very quiet, and some concession in prices has failed to stimulate sales. Extreme value of Gartons i* 26s 6d, and Si-ai-rowbills are offered at 2&, to 25c 6d per 384b. ex store. The most serious drop has taken place in duns which are weak at 21s to 21s 6d per 3361b. Messrs Weddel note the arrh al of the following vessels from New Zealand with fre^h supplies of grain within the past two | we?ks : — Maratua, wirb 6393 sacks of wh-eafc. j 5028 sack* of cats from Timaru. and 449 ' sacks of wheat and 1177 sack? of oata from j Lyttelton ; Agapanlhus, with 12,996 sacks of wheat from Timaru and 20.394 sacks of oais, al<*> with 12C0 sacks of wheat and 2778 sacks of oats from Ljttelton; the Clan Ogilvy, with 2507 sacks of oata from Timaru and 1661 eacks of oat,> from Lyttelton; the Aotca, with 750 sacks of wheat. 160 sacks of peas, 156 sacks of seed, and 5070 sacks of oats r roin Port Chalmers, 600 6acks of oats from Oamaru and 3623 sacks of ■wheat, 1213 sacks of peas, and 3453 sacks of oats from Wellington ; the Orari, with 500 sacks of oats from Dunedin, 16,409 sacks of oafs from the Bluff, 1644 sacks of wheat and 8915 sacks of oats from Lyttolton ; the Star of Scotland, with 14,964 packs of wheat, 9647 sacks of oats, 168 sacks of beans, 603 sacks of peas from Lyttolton. ■The New Zealand Loan and Medcantile Agency Company remarks that the market for wheat generally has been quiet, and with little disposition to operate, although sales o r Russian are pressed to lower rates. Today's value of an Australian cargo off

coast is 41s 9d to 425. while the new crop for December-January shipment is offered at about 38s per 4801b. Oats are also weaker owing to heavy offerings of Russian, but beans and peas, ""being scarce, have hardened. Several parcels of Maples recently arrived have been disposed of at 42s to 455, according to quality. This firm gives the following quotations for New Zealand grain : — Long-berried wheat, 42s to 42s 6d per 4961b; short-berried, 41s ' to 41s 6d; barley, 27s to 32s per 4481b; Sparrowbill oats, 20s 6d to 21s 6d per 3841b; fiinest Sparrowbills, 22s to 245; Danish, 18s 6d to 19s per 3201b; beans, about f.a.q., 33s to 34e per 5041b. For cocksfoot the market has been very quiet, buyers awaiting samples of the American crop, which is reported to be good, but of dark colour. Present values of New Zealand seed are : 62s for 161b, 63s for 171b, and 64s 6d for 181b per cwt c.i.f. TALLOW. At public auctions during the past fortnight 2500 casks of tallow have been offered, and 2030 have been 'sold. With the exception of edible sort?, all grades were- in good dernajju. Messrs Wed del say that stocks are now by no moans heavy, and prices therefore- should keep firm. Oils which come into competition with tallow ar© dear, and there are no signs of weakness in that market. On c.i.f. terms- offers have been on a limited scale. Good mixed August-September shipment has been sold at 29s 6d to 29s 9d, -and some " hard " mutton and beef ut 31s and 30s per cwfc respectively. Spot quotations for Australasian sorts are: Mutton — Good -to finest, 31s 9d to 345; dull to fair, 31s to 31s 6d; inferior, 29s 6d to 30s 6d per c\\ t. Beef — Good to finest, 31s 6d tp 335; dull to fair, 31s to 31s 3d; inferior, 29s to 30s per ewt. SKINS. Writing relative to the market for salted New Zealand pelts, the National Mortgage and Agency Company sajs it has kept very firm. Prices on average are perhaps 5 per cent, higher now than they were a month ago. It is surprising that the market has been able to absorb the very larcre sxipplies which have come forward this year, especially in view of the fact that English domestic pelts have been relatively so much cheaper. It is thought the demand has been partly speculative, as sheepskin tanner 3in the United States report business as still rather indiflerent, though more favourable conditions are looked for in the autumn. At the moment the market is active, prices showing an upward tendency, and although all pelts haye not advanced 5 per cent, within the last month that fierure represents about the average advance. New Zealand pelt 3 are quoted as follow :—Crossbreds. heavy — Firsts. 26s to 36s per dozen ; seconds, 20s to ?3s. Crossbreds, medium substance— Firsts, 20s to 28s ; seconds, 14s to 225. Merinos -Firsts, IGs to lbs rer dozen ; ! seconds, 8s to 12-3 New Zealand lambs— ! ,' Firsts 14s to 22s per dozen; seconds, 9s to I 14s. i { For the last sale of basils 17,620 of Aus- ! tralasian description were catalogued, and 13,273 sold at full pi ices. Only 201 sides of Australasian 'sides of leather were offered at the last -auctions. All were sold at id j jto £6f per lb advance. Wellington first-class ] ; realised 10{d to Hid ; second- slass Welling- j I ton, 10d to IQ^d: first dressing sides, 15jid; j j second-class. 13« d. Piivate sales aie re- ! ; ported in favour of importers. For shipj iiient values are very firm, j During the last four weeks 1737 salted . I Australasian hide 3 were ollercd for sale, ! i c.-mprisinpr yearlir.jr 'and second calfskins j ', chiefly ; 1028 were sold at 6£d per ib for first I I yearling, s^d for second yearling, and , j second celt a*- 6id; light hides sold at 6d, | and ex heavy ar si,d to 6|d per Jb c.i.f. ; Salted hnvso hides (i^o2) have be-ni sold at advanced prices: Best, 12s 3d to 143 6d ; j seconds and small, 10s 9d to 12s 9d ; and j rejections, 5s 4£d to 6s 4£d per hide. For j j shipment demand has been fair, and values quite firm. N.Z. FLAX. Although very few transactions have ■ I taken place during tho last four weeks, i j the New Zealand Loan and Mercantile j Agency Company mentions that prices have i advanced in sympathy with Manila, tho j bulk of the heavy supplies of the latter ( being taken for America, with a conse- J qtipnt reduction in shipment." hither. Quotations are: Good fair spot £25 10=, Octp- ' ber-Decenibfr (sellers) £26 per ton, fair j spot £24 10s, October-December (buyers) | £24 15s, fair current Manila £25 10s per ' ton, c.i f. Tow is in goo-J demand at £9 per ton, c.i.f. DURY PRODUCE Messrs Weddell state that the market for New Zealand and Canadian cheese i» very quiet at last week's pri-jss Tho colonial : butter trade is in a state of coma, the only I feature of interest being the shipment of 100P boxes of Australian butter. N.Z. MEAT. Canterbury sheep are only in moderate request, and 2?d per lb about represent current value for carcasas up to 641b. Messrs Weddel noto that the heavier weights are steady at 2Jd per lb North i Island shesp continue-4d find most favour j with buyers, and best quality carcases an> ! firm at 2|d to 2|d per lb, secondary brands i being quoteu at 2£d to 2|d per lb. E\\e.s J are not plentiful, and with a good inquiry j values are a shade dearer at 2&d to 2' A d per lb. | DEPRESSION IX LAMB MARKET. ,' Lambs continue to be firely offered, and j a further drop in values has taken place, \ Toward the close, however, Messrs Weddell j spsak of a slight improvement in the de- I inand being noticeable, helped to a certain extent by the firmer tone shown in tho ! mutton market. This lattei cause has had ; the effect of hardening the values of 421b to 501b grade, and lambs of this descrption. | which wers to be boughL at 2^d to 2\tl during the earlier yeriod under review, have advanced per lb. Holders, however, took ad\anlage of the improved mrjuiry to make headway with sales, and this had the effect of checking the tendency for prices to ad\ance, and ■values — ■vith the exception of thove ruling for the 421b-50!b grade — close practically unchanged to id per lb lower than those quoted a fortnight ago. Current quotations arc : Prime Canterbury lambs under 361b, 3^l to 3id per 'b; 361b-421b, 2£d to 3d; 421b50lb, 2Jd Southland lambs are on offer at 3|d per lb for under 361b, 2Jd for 361b-421b, an<l 2|J to 2id for 421b-501b. North Island lambs are qi.oted at from 2id to 3d per Ib, according to weight and quality. Helped by the firmness of the mutton market, there has been a better inquiry for River Plat© and Australian j lambs up to 2£d per lb. By the New Zealand Loan and Mercantile Agency Co. it is remarked that the market for lambs has couiirmed extremely ,

r depressed, the demand has been disappointing, and with many holders pressing, sales values all round declined id to £d per lb. At the low range of values now ruling (which approximates mutton prices) there is less anxiety to sell, and the marked to-day has a steadier feeling, Canterbury lamb being quoted at 2^d to 3|d per lb, and North Island at 2£d to 3d. There has been a fair inquiry for frozen beef, and for quarters averaging 1901b there is a firmer tendency. New Zealand hindquarters are quoted at 3gd to 3^d per lb, and forequarters at 2£d <o 2£d per lb off the hooks at Smithfield. - Stocks of New Zealand sheep have been increased during the week by 18,354- carcases per Aotea, . 11,833 per Orari, and 18,815 per Star of Scotland, making a total of 49,002 carcases. The C. C. and D. Company observes that quotations disclose very little change in the situation ; there is a elight advance in the value of some of the mutton, partly due to the fact that stocks have been reduced considerably, and there is not that desire on the part of holders to pre^s sales. The position is, however, largely governed by the number of lambs on hand, which is still very excessive, co until they are materially reduced there is little prospect of any marked advance in the value of mutton. The best light Canterbury sheep are making 2fd to 3d per lb, but heavy-weights can be bought at 24d. North Island mutton is selling at prices ranging from 2£d to 2£d per lb. Additions to stocks of New Zealand lamb comprise 84-,031 carcases during the week, as well as 2580 from /Australia and 7954 from South America. The position of the lamb market ie little changed. While prime light carcases are not quite so plentiful, there are very large supplies on hand of heavy and medium weights, and the C C. And D. Company say it is difficult to move these even at the low prices ruling. Canterbury lambs are quoted at 3d to 3|d por lb, and North Island descriptions are making 2£d to 3id per lb, according to weight and quality. Prices for frozen beef are practically unchanged, values being to a certain extent maintained owing to the shortage of chilled beef ; • receipts during the week include 20,609 quarters Croni New Zealand. Hindquarters from the Dominion are today quoted at 3fd to 3ld, against 4fd to 4|d a year ago, and forequarters at 2Jd to 3d, in contrast to 3|d per lb at this time last year.