NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2934, 8 June 1910, Page 22

NEW ZEALAND PRODUCE IN LONDON.

OPENING OF WOOL SALES. SATISFACTORY PROGRESS. (From Our Own Correspondent.}April 29. The third series of colonial wool sale® of the present year opened this week with catalog-ues comprising 13,037 bales, 6803 being from New Zealand. Messrs Balm© say that there was the usual attendance of buyers, and competition was satisfactory for merinos and fine crossbreds ' on the basis of tihe rates current at the close of the March series. Medium crossbreds also sold at that level, but the coarsest qualities ■must b© quoted from par to 5 per cent cheaper. The position of South African greasiesf is also unchanged. For 'the series, a total of 170,000 bales is catalogued. THE WEEK'S BUSINESS. | Messrs Balme goes on to say that the opening of the sales has been somewhat more satisfactory as regards the coarser qualities of'wool than was anticipated from the course of events in the manufacturing districts during the past few weeks. Competition for such grades is fairly active and prices show no great change from the rates current at the close of the March series, any weakness there may be not exceeding gd per lb and being generally confined to the shabbier and poorer-con-ditioned lots. Merinos are well competed for and easily maintain previous quotations. Fine crossbreds are in keen request at unchanged rates, a remark which also applies to medium growths in the greasy state; coarse sort® in similar condition, however, rule from par to 5 per cent, cheaper. Among sooured crossbreds, the finer sorts realise high prices, but values for the coarser grades frequently fall 5 per cent, below the March level®, while as regards slipes, the position of fine descriptions is unaltered, and medium and coarse- qualities generally 5 per cent, lower. The Cape wools so far brought forward have consisted entirely of greasies. Previous" rates are well maintained for the better descriptions, but some slight irregularity is occasionally noticeable in the figures . paid for heavy conditioned parcels. SLIGHTLY- HARDENING Messrs Dalgety and Co. write: " The "market since the close of the March sales has been very steady for everything except coarse crossbreds, which have weakened slightly, though the sheepskin sales and Antwerp auctions went off bettci. than was anticipated a,nd tended to stiffen prices for these qualities somewhat. The demand from the Home trade is still very strong, and machinery is fully employed, so that any lowering of prices was not expected to exceed 5 per cent. . . Since the opening, the sales have continued with a very firm tone and a slightly hardening tendency, though hera> and there some irregularity in prices is noticeable. Crossbred lambs wool sells specially well, and prices are fully 5 'per cent, dearer for greasy parcels, but merino lambs in faulty condition are rather easier. American buyers are practically out of the (market at present, but with this exception all sections of the trade are represented, and competition is well sustained." • grain; Cocksfoot: Unfortunately the demand for cocksfoot has been disappointing, and as there aire sellers anxious to clear their Stocks before sowing ceases, the New Zealand Loan and Mercantile Agency Co. mention that prices are irregular, and as low as 64s per cwt ex warehouse for 17 lb seed has been accepted. Very few transactions have as yet taken place in ne.v crop, as buyers have hardly begun to operate. Wheat: The maYket has been very quiet during the last month, and with better crop prospects in America and on the Continent pi-ice* have declined Is 6d to 2s per quarter. In Australasian for arrival only a moderate

business lias been done, and with an absence of speculative demand prices rule in buyers' favour. It is reported tha.t 36s 9d per 4801 b, c.i.f., has beer taken for a steamea" cargo of Australian close at hand, and 37s 3d per 4801 b, c.i.f., would probably buy small sailer cargoes " off coast." Longberried New Zealand it quoted by the New Zealand Loan and Mercantile- Agency Co. at 37s to 37s od pen- 4961 b, and shortberried at 36s 9d to 37s Oats: The demand is quiet, and with large shipments and free offers the outlook is not encouraging. New Zealand sparrowbills are quoted at 18s to 22s per 3841 b and Danish at 15s to 15s 6d. Beans and Peas: These go into consumption in small quantites at about late rates, quotations for New Zealand beans being 40s 6d to 41s per 5041 b, and for peas — Tasmanian maples first quality 56s to 60s, second quality 52s to 545, third quality 48s to 50s per 5041 b. TALLOW Since the New Zealand Loan and Mercantile Agency Company issued its last report there have been five public auctions of tallow, and at these, with a good demand, prices have advanced until they mark an appreciation of Is 6d to 2« per cwt. At the close the inquiry is not quite so keen. Finest mutton and beef are for the moment unsaleable at present, values owing in some measure at least to the fall in the price of lard. A large business has been done in Australasian for arrival, and 35s 9d per cwt has been paid for good colour mixed,- but prices for this description have now declined 6d per cwt. Good New Zealand mutton has realised 37s 3d per cwt and fine beet 375. There is a steady tone at the close notwithstanding the large shipments afloat. Quotations to-day are: Finest mutton, 39s to 40s; fair to good, 37s to 38s; edible beef, 38s to 395, and fair to good, 37s to 37s 6d per cwt, ex warehouse. FLAX. The market remains in a quiet state, the few transactions reported being in "fair" quality, "good fair" being very sparingly offered from the Dominion. The New Zealand Loan and Mercantile Agency Co. say that values have fluctuated somewhat, but close at about late rates. There are 1630 tons afloat, due to arrive before 20th prox., and this fact has a depressing tendency. Good fair spot is quoted at £25 (nom.); April to June, £24 10s: fair spot, £24 (nom.) ; April to June, £23 10s to £23 15s; and fair current Manila, £23 to £23 5s per ton, c.i.f. Tow is still in moderate request at £l2 per ton, c.i.f., for No. 1 quality. N.Z. MEAT. Of late the mutton trade has been extremely slow, heavy weights being practically unsaleable, and in face of the much larger supplies offering, the New Zealand Loan and Mercantile Agency Company reports that prices have materially declined, marking a total fall of |d per lb. _ The position at the close continues unsatisfactory, as the demand at the lower range of values has shown but little improvement. Canterbury sheep are quoted at 3|d to 4£d, North Island at 3£d to 3ld per lb. In lamb a fairly good trade has been experienced, but with arrivals proving in excess of requirements, values for some time ruled in favour of buyers, though this week with less anxiety on the part of some holders to sell, the downward movement has been arrested. The New Zealand Loan and Mercantile Agency Company quotes: Canterbury lamb at 5d to sfd per lb, North Island at 4|d to 5d per lb, Australian at 4£d to 4|d. For the most part chilled beef has been in plentiful supply and selling at low rates, but this week, with smaller quantities offering, values marked a sharp advance. In sympathy, frozen sorts have recently been more inquired for, and holders have been able to o"btain higher t>rices. New Zealand hind-quarters are quoted in the fame report at to 4|d per lb, and fore-quarters at : 3|d to 3|d per lb. There has only been one steamer during the week—bringing meat from New Zealand —the Ruapehu,—which had on board 16,228 carcases of mutton, 41,802 carcases of lamb, and 916 quarters of beef. The weakness of the mutton market can only be attributed to the anxiety of holders to increase sales, and not to depression from heavier supplies, as stocks are still very moderate. Canterbury sheep can be quoted at 4d to 4£d per lb, and North Islands at 3|d to 3ld per lb, but a number of the latter have been offered at 3|d per lb, pitched on the market. Under the influence of heavier supplies of lamb prices have tended downward, but fair numbers are going into consumption in spite of ungenial weather. The C.C. and D. Company quote Canterbury lambs at to sid per lb, and holders arc not disposed to accept any lower prices. North Island descriptions are selling at 4fd to 5d per lb, the former figure being for inferior carcases. In sympathy with chilled beef, values of frozen beef show an appreciable advance, but the business done is small, as prices are prohibitive. New Zealand hind-quar-ters are quoted at to 4§d and forequarters at 3|d to 31d ner lb DAIRY PRODUCE. Messrs Weddel write to-day that the

market for New Zealand and Australian butter this week consist of 34-, 130 boxes from of last week, and a further decline has occurred. To-day the market is weak, and prices are irregular. Arrivals of colonial butter this week consist of 3,130 boxes from New Zealand in the Ruanehu and 40,578 of .Australian. The market for foreign butter has this week shown equal, if not greater weakness, that the colonial and Danish is lower again by 3 kroner, which makes a total of 10 kroner in the last three weeks. This steady decline is no doubt due to the gradual increase of the make of butter all over Europe, including the United Kingdom. Imports from Denmark, Holland, France, and Sweden for April show this, and those from Siberia indicate a similar increase. Prices have now reached, or will shortly reach, a retail price of 13d for Danish and Is for Colonial, which will steady the butter market all round for a time. For cheese Messrs Weddel report a dull market, alike for New Zealand and Canadian makes, with prices about Is easier on the fortnight.