N.Z. PRODUCE IN LONDON.

Otago Witness, Issue 2983, 17 May 1911, Page 21

N.Z. PRODUCE IN LONDON.

(From Otjb, Own Cokeespondent.) > LONDON, April 7. GRAIN . New Zealand Wheat.—According to Messrs Weddel there is little or nothing offering an spot, and what there is of old crop meets with practically no demand at from 31s 6d to S2s 6d per 4961 b. Parcels of new crop wheat have been selling in moderate quantity for present shipment at 32s to 32s 3d c.i.f. per 4801 b, with further sellers at the former figure, but holders receive little encouragement from buyers at that price. New Zealand Oats. —With fine foreign descriptions obtainable at relatively much less money, New Zealand sorts find a very limited outlet, and are quoted at: —Gartons and sparrowbills, 17s 6d to 20s 6d; duns, 20s to 21s; and Danish, 15s 6d to 16s cd, per 3201 b. Beans.—Messrs Weddel report that New Zealand sorts still meet a slow demand, and values stand at 33s to 35s 6d per 50jtlb, ex store; while in peas, with both stocks and buyers limited on spot, the business being done at about late raites is of a meagre description. New crop New Zealand maples No. 1 for March-April shipment are now quoted at 38s 6d c.i.f. per 5041 b, and buyers are difficult to find at that figure, wliile there is no inquiry for later positions. Cocksfoot.—The National Mortgage and Agency Company state that this is firmly held at an advance of about Is per cwt on last quotations, but at present the retail trade is not as active as usual at this season, owing to the unfavourable weather conditions delaying sowing. , ' SKINS On skins of various the National Mortgage and Agency Company of New Zealand hav© the following report to make:—. Hides.—New Zealand heavy sold at 6|d at the last sales, and extra heavy at s|d per lb c.i.f. For the offering of salted yearlings, wihioh were fmainly of poor quality there was little inquiry. Privately there has been a steady trade doing _at unchanged prices. The colonies are offering rather more freely. Leather.— Of 154 sides offered all were ©old Best realised lid to Is, second lOd to lid, first-class dressed 17id, second-class dressed 15id per lb. Privately there is a fair business doing at firm rates. Supplies aro still small. -Basils. —New Zealand best are quoted at seconds at 16Ad, first greasy ait 15sd pe; lb. Privately there is a good inquiry for the better classes, but supplies are very scarce, and there is consequently little doing. For the lower grades there is little or no demand. Of the 32,066 brought forward at the auctions on March 24, 9199 were sold'.Pelts. —A good many North Island freezing 6beep pelts have now reached this market, and have found buyers at an average reduction of about Is from the prices ruling a month back: In some cases sales have been made at a reduction of ,2s. The larger end heavier pelts have sold relatively better than the smaller and lighter grades. This reduction is largely du© to the discouraging reports splitters are getting from the United States-of America. Salted grains are being offered in New York at a reduction of 2s per dozen, and splitters naturally look to get the same reduction onjheir pelt purchases. In the case of lamb pelts, business is .difficult to do, buyers holding off in anticipation cif lower prices. It seems probable that prices will rule at a reduction of Is to 2s from last season's prices. No Canterbury freezing pelts, either sheep or lamb, have yet arrived here, and, speaking broadly, the market for pelts is quiet, the tendenoy of prices being against the seller. It is difficult to see how there can be any improvement until business conditions in the United States are better, and there is at present no sign of any improvement. Quotations given by the National Mortgage and Agency C 0. ,: of New Zealand, are:—New Zealand cros3breds —heavy, prime,- 28s to 32s jper dozen ; do firsts, 22s to 265, do seconds 16s to 225; crossbreds —medium substance, firsts 20i to 265; do seconds, 14s to 18s; merinos—firsts 8s to 12s per dozen; seconds, 6s to 8s; lambs —firsts, 12s to 16s; seconds,-~Bs to 10s per dozen. Rabbitskins.—No sales have been held during the .month, but values are thought to rule steady in the coming auctions, wh-xn so'rr.c 2SOO bales of Australasian skins wit' b->, catalogued. The quality of the offerings? is thought to be not quite so good as at the last sales TALLOW : TRADE FLAT, PRICES LOWER.

In their report of the tallow* market during the last two weeks, Messrs Weddel remark that it has bewi flat, with prices continuing their downward course to the extent of 6d to Is per cwt, but at the same time fair clearances have been made at the auctions, and the offerings remain small, and are likelv to be so for the near future. On c.i.f. terms business has been almost entirely restricted l to secondhand sellers, and the business reported shows at least Is p:er cwt drop. Offers from th© colonies are on a limited scate, and in most instances far above ideas of buvers here. The stock in London at the end of March was returned as 14,197 casks, being an increase ; on the month of 3847 casks, but this is likely to be considerably reduced by the end of the present month, iis there is now..a boat on the berth loading for th© Baltic. Soot prices are: —

Mutton—good *o finest 35s to 365, dull to fair 34s to 34s 6d, inferior 32s 6d to 33s 6dj beef—good to finest 34s 3d to 355, dull to fair 33s 6d to 345, inferior. 31s 6dJ to 32s 6d per cwt. North America continues press sales, and has already done a considerable business with this country. New York prime oity has dropped to 30s, c.i.f. U.K., but is at the moment attracting little attention. FLAX. The National Mortgage and Agency Co. of New Zealand report further progress during the early part of the past month, and business was done in good fair from £2O 10s to- £2l for th© prpfsent shipment, and fair at £2O. Later the market became weaker in sympathy with Manila on heavy receipts. High point fair sold at £l9 ss, the nominal value of good fair is now £2O 10s, and fair £l9 10s for April-May shipment. DAIRY PRODUCE The National Mortgage and Agency Company are able to report very favourably with regard to the quality of the last few shipments of New Zealand butter, with the exception of perhaps a brand here and there not being up to the finest standard. But there is never a season where this does not occur now and then. The Turakina's shipment is practically cleared, and a good demand is anticipated for that brought by the Athenic. Finest New Zealand butter is quoted at 106 s to 108 s, and fine at 100 s to 102 s. Within the last month values for cheese have advanced, and the market is firm at the quotation of 61s to 62s per cwt for New Zealand white and the same for coloured. There is a good trade passing. Messrs Wedidel say that the demand for New Zealand and Australian choicest butter has been well maintained this week, and prices are firmly held, and will even show an advance on the prices of a week ago. Arrivals for this week are small compared with previous weeks. For New Zealand and; Canadian cheese the demand continues strong. New Zealand is improving in quality and .maturity every day. Canadian make is in small compass, and the United States have lately been shipping small quantities, but American cheese is .declared to be unsuitable in size and inferior in quality as compared with New Zealand and Canadian. In tho judgment of the New Zealand Loan endi Mercantile Agencv Co. the New Zealand butter is the best value on the market. It is celling well, and the quality is very good. Prices range from 104 sto 103 s per cwt. TJnsalted butter commands a premium of from 4s to 6s per cwt on salted. The same firm quoted New Zealand cheese, white and coloured, at 61s 6d to 62s per cwt.

NEW ZEALAND MEAT. MUTTON —SMALL BUSINESS Demand for New Zealand mutton is still alow, and the wintry weather tends to restrict business. The C.C. B**d D. Company state that the supplies of Canterbury sheep are still extremely light, and the fancy prices asked bear no relation to other quotations in the mutton market. North Island sheep are relatively plentiful, and the majority of holders are trying to push sales at 2gd to 3d; per lb. The normal quotation for good light carcases is 3jd per lb, but not many make this price, while ewes have been sold as low as 2|-J per lb. The com>petitio,n between importers is largely responsible for the present weakness. Messrs Weddel say that stocks of New Zealand mutton are still considerable, and the heavy supplies of other kinds selling at low rates have brought about a iurther reduction in the prices of all kinds from New Zealand. Canterbury sheep are still scarce,, and nominaly are auoted at 4d per lb for the 481 b to 561 b grade, but prime North Islands have dropped to 3d to 3|d per lb, acording to weight. Secondary carcases are offered freely: at 2|d to 3gd per lb. and ewes at to 2fd. THE LAMB MARKET—CURIOUS POSITION While the demand for lamb still leaves something to be desired, the undertone is distinctly stronger, and difficulty is experienced in buying lines at the ■ official quotations —a curious condition. The C.C. and D. Company note that Canterbury brands meet a fair inquiry, and are worth up to sjSjd per lb for 381 b carcases. Lighter weights can be bought ct 4£d. North Islands are plentiful, but inferior carcases predominate. Values range from 4d to 4|d per lb. BEEF —LESS STBENGTH. Prices of frozen beef are not quite so firm as—they were a week ago, and the sale is slow, but stocks in store are still moderate, although thev have been added to. The C.C. and D. 'Co. quote New Zealand hinds at 4dl to 4&d per lb, and forequarters at 2|d! to 2d per lb.