NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2924, 30 March 1910, Page 22

NEW ZEALAND PRODUCE IN LONDON.

(From Our Own Correspondent.) THE WOOL SALES LONDON, February 11. Briefly reviewing the results of the first series of wool sales/ Messrs W. Weddel and Co. lay stress on the fact that the market kept extremely firm right up to the finish, the. demand for greasy merinos showing really good quality continued very brisk, prices at the close being quite 5 per cent, higher than December's best rates. On the other hand, harsh wools fell away a little. Sccureds sold extremely well throughout, and some good sales were made to Russian ibuyers. Lambs' wool was wanted at a 5 per cent, advance, and the record price of 2s 4d per pound was paid for a lot of iWestern Victorian greasy lambs, and 4s per pound was obtained for spout-waehed. Fine crossbreds went well, except for the heavier, shabbier lots, which were a little easier than in December. ■ The American demand for medium grades broadened out a little without causing any alteration m price, and on the lower lots Bradford men ■were strong buyers, and these sometimes showed a 74 per cent, improvement over December. Slipes sold briskly, coarse grades being 7-| per cent, to 10 per cent. up. The position still appears sound, in that there is a general active consumption of all grades of wool, and mills are well employed here, on the Continent, and in America.

Some New Zealand Offerings. Messrs Dalgety and Co. mention, in the course of their review of the same sales, that the new clip from tb> North Island of New Zealand was well represented; generally speaking, it was well-grown, clean, and in rather lighter condition than last season. A feature of the series has beer the strong demand for merino wools of really finehaired quality, and for such, high prices have been paid. Super lambs' wool has also' been well competed for, and as much as 2s 4d per lb was made for 4 bales greasy lambs of the " E. 0." clip, while for washed, up to 4s per lb was realised, 13 bales " Langi Willi " being sold at this price. Of estimated quantity of wool actually sold—estimated at 175,000 bales,—the National Mortgage and Agency Co. note that 95,000 bales were taken for export, 12,000 going to the United States. With the single exceptior of coarse-haired merino wools, the market was good from start to finish. Several American buyers were present, but so far as merino wools were concerned, their competition was a little disappointing. Their chief attentions were directed toward crossbreds, but they were not inclined to improve on the already high level of values ruling at the close of last year. Many clips which had been sold by growers locally~were re-offered here, and net'profits.of 2d per lb were by no means uncommon. The trade meanwhile is well employed, and there seems no valid reason why the present satisfactory level of rates should not be well maintained in.the near future. j«_t-.»» " GRAIN. There is no New Zealand wheat. Last week's average price of 33e 7d for English wheat per impend quarter marksi a.decline cf 2d from the previous fortnight,

but is 3d per quarter' dearer than at the same time last year. Messrs Weddel remark that there is a moderate demand for New Zealand oats for the '.cheaper grades, but best sorts are neglected. Gartons range from 19s 3d to 225, sparrowbills from 18s 9d to 20s 6d, duns from 19s 6d to 20s 3d, and Danish from 17s 6d to 18s 3d per 3201 b. ' For small lots of peas, ex store, 51s 6d to 61s is obtainable, but the market would not take any quantity at such prices. Messrs Weddel note the arrival of the Turakina arid the Opawa within the fortnight with small supplies of grain from New Zealand. TALLOW. With large quantities of South American tallow arriving unsold in Liverpool, prices have slipped away both' on the spot and to arrive. The decline in South American is as much as Is per cwt.. but Australian sorts are not down more than 6d per cwt., and at the time of writing Messrs Weddel think buyers seem to be more interested at the lower prices established. On c.i.f. terms weak mutton tallow has been, sold at 32s 9d. and 43£deg. good colour mixed at 32s 6d per cwt., and these prices are still obtainable: Quotations for New Zealand and Australian tallow are:—Mutton: Good to finest, 35s to 38s'per cwt.; dull to fair, 33s 6d to 34s 6d per cwt.; inferior, 31s 6d to 32s 6d. Beef: Good to finest, 34s 6d to 375; dull to fair, 33s to 33s 6d; inferior, 31s to 325. Dealing with the tallow market during the last month, the N.M. and A. Company says it has been quietly steady, with very little alteration in prices. A decline of 3d per owt on the commoner qualities is the only quotable change. Toward the close the market has been very quiet, and the tendency is easier. Supplies are now coming . forward in fair quantity, and the demand continues rather limited. For shipment, prices are 3d per owt easier, and parcels afloat are distinctly cheaper, especially those in second hands. Buyers are therefore inclined to hold off as far as possible. NEW ZEALAND FLAX.. For the most part the flax market has remained, inactive during the month, and the amount of business has been small. The N.M. and A. Company reports that the market closes steady, with sellers of good fair at £26 15s, and fair at £25 15s. Tow isi in demand at £l2 15s for No. 1, £ll 10s for No. 2, and £ll for No. 3, c.i.f., FROZEN RABBITS. Trade has continued very fair during the past month, but supplies have been ample, and there has been no material alteration in prices. Prime quality rabbits are, however, a little firmer. The National Mortgage and Agency Company gives the following prices for New Zealand rabbits: Selected, 17s 6d to 18s per case of 24; large, 2£lb and up, 16s 6d to 17s ; young, 21b to 2*lb, 14s. During the month 16,973 crates have come from New Zealand, and 13,374 crates from Australia. SKINS. Rabbitskins.—At the. first series, of sales for the year New Zealand was represented by 363 bales, 328 of which were sold. The National Mortgage and Agency Company says that the collection included a fair proportion of good winter skins, and some of exceptionally fine quality. There was good competition for these, and although buyers showed some reluctance in following previous quotations 'or best grades, some relatively high prices were paid for fair to good sorts. _ Fox ordinary fair season and outgoing kinds, values were raised to 2d per lb, while small and suckers and low season advanced Id to l£d per lb. Black and silvery were unchanged. Quotations for- New Zealand rabbitskins are: Selected (dressing), 4s 2d to 6s 93 per lb; good winter (light pelted), 2s 8d to 4s per

lb; "good winter (mixed pelted), 2s to 2s lOd; fair to good season, Is 9d to 2s 6d per lb; do butchers', la 2d to 2s; mixed season, Is Id to 2s per ib; common and low, lOd to Is 9d per lb ; small and suckers,. lOd to Is 63d per lb; black and silvery, 19 3d to 3s 2d; fawn, le to 3s per lb. March 10 is the date announced for the next sale.

Pelts.—There are a good many inquiries for prime North Island sheep, but, speaking generally, the N.M. and Agency Company ' thinks the outlook at the moment seems to point to prices being rather lower than higher, compared with the best level with 1900. Prices are more or less nominal until tested by bulk arrivals of the new season's pelts.

Basils.—At the sales a week ago 29,436 Australasian basils were offered, of winch. 22,975 were sold. The NIM. and A. Company quotes: —Wellington best, 16|d to 19fd; seconds, 12|d to 16£d; first greasy, 16d; second do, 6d ; best lambs, 17d; second do, 13d. Supplies have been principally of fch-e commoner qualities, for which there is little inquiry. Good descriptions sell readily. Hides. —Privately there has been very little business possible" owing to the high prices asked on the' other side. Heavy New Zealand ox is quoted at 5d to 7fd; light ox, 4|d to 6gdj seconds, 4fd to 61d; cow, 4§d to 6|d. BUTTER AND CHEESE. For New Zealand and Australian butter the market has been somewhat quiet during the week, and prices have been difficult to maintain. Messrs Weddel mention that a few holders show temporary weakness, but recovered as soon as more business resulted from their reduction of one or two shillings. Speaking generally, however, prices are about the same as a week ago, though not quite' so firm. For cheese- the demand continues good l , and the market is firm at 58s to 59s for choicest New Zealand, and 57s for finest. Messrs Weddel note that paragraphs have appeared in newspapers and in trade journals endeavouring to show that New Zealand eheese is making higher prices than it ought to do, on the ground that shipments are 50 per cent, more than last year. It must, however, be remembered that only half the season's make has yet been shipped, and to show how delusive arguments are when based on percentages as to what future shipments will be, take the following facts from the Board of Trade returns for January. This season, from September 1 to Deosmbsr 1, the imports of New Zealand cheese were 12,341 cwt, against 2834 cwt last year, or 335 psr cent, increase. Fro.n September 1 up to January 1 they were 45,100 cwt, against 18,S97cwt last year, or an increase of 137 per cent., and from September 1 to February 1 they were 123,791 cwt, against 76,263 cwt last year, or an increase of onlj' 62 per cent. Tho National Mortgage and Agency Co. writes that the Turakina discharged her cargo last week in fine order, the quality of the butter being exceptionally good, but the price that sellers asked at the beginning of the week (1245) was a little too high, and the butter has therefore not been cleared. But as holders are now willing to meet the market it is thought that the shipment will now all clear up before the Athenio cargo reaches the market. Finest New Zealand butter is quoted at 120 s, 1225, and 123 s per cwt; seconds, 116 s to 118 s; milled, 102 s to 108 s. Argentine salted butter is bringing 118 s to 120 s, and unsalted 120 s to 122 s per owt. The cheese brought by the Turakina from New Zealand is in every way satisfactory, and there is a fairly good trade at about Is over last week's quotations. The National Mortgage and Agency Company remarks that the proportions of coloured cheese seems again a little overdone, and it does not reach the same value as white.

New Zealand white is quoted at 59s to 60s per cwt, coloured at 58s to 595, Canadian white is selling at 61s to 625, and coloured at 60s to 61s per cwt. NEW ZEALAND MEAT. During the last fortnight 50,000 carcases of New Zealand mutton have arrived. Messrs Weddel say that Canterbury descriptions are still scarce and dear, 481 b to 641 b grade being worth 4|d per lb, and heavier weights 4d per lb. Prime North Island and Southland sheep sell slowly at 3|d to 3Jid per lb. Secondary carcases are more plentiful, and with some weak holders medium weights have been sold at 3|d per lb. There is a fair inquiry for ewes, but with stocks very short values are nominal at 3£d to 3§d per lb. For lambs the market has steadily improved. Lighter arrivals and moderate stocks have caused many buyers, who were without stocks, to come into the market and secure their requirements for the next few weeks. Although the higher prices have slightly checked the demand the present rate of" consumption is quite sufficient to prevent stocks from accumulating, and as quantities are light the advanced level of prices can be very easily maintained. Recent arrivals of North Island lambs, ex Staler Scotland, are selling freely at 41d to 5d per lb. The few from Canterbury available are making 5d per lb, and W. M. E. Co. 5-jjd. During the fortnight 44,500 carcases have arrived from New Zealand, 75,500 from Australia, and 11,000 from the River Plate. The mild and muggy weather a fortnight ago checked sales of frozen beef, but toward the close the colder spell has brought about a demand, and values close quite firm for both fore and hindquarters. From New Zealand in the last two weeks 12.000 quarters have arrived, as well as 1500 quarters from Australia and 88,500 from the River Plate. Quiet Demand. The C.C. and D. Company writes that the 1910 arrivals of New Zealand sheep total 146,313 carcases, showing 37,495 carcases fewer than the same period last year. This moderate addition to the light stocks with which the year opened has resulted in prices being held fairly steady, and higher quotations must have been established had not the demand been extremely quiet. Canterbury mutton is almost unobtainable, and no quotation can be ffivenStocks consist entirely of North Island sheep, and these are distributed among numerous holders. At one period the anxiety of certain c.i.f- speculators to reap the profit shown on their purchases at current values resulted in a decline in prices, but other speculators with more confidence in the position speedily snapped up anything that offered below market rates, and a firmer -tone now prevails. Good average North Islands of _ light oi medium weight can be quoted at 3 B d to 3 z rt per lb, particularly the same values as were ruling at the opening of the year, although prices have been both higher and lowei. Ewes are in request, .but are very .scarce, and are making about 3£d' per lb. The earliest of the new season s lamb from New Zealand was somewhat poor in quality, and realised less money than the pnoes now current The CO. and D. Co, record* that some good Wellington lambs are maW up to s§d per lb, and ordinary.«fW£g; selling at 5d to sid per lb. ■ No Canter bur" lambs have been received as yet. Stocks of old season are practically exhausted. Stale North Island carcases have been .realising only 3gd per lb.