N.Z. PRODUCE IN LONDON.

Otago Witness, Issue 2997, 23 August 1911, Page 21

N.Z. PRODUCE IN LONDON.

THE WOOL SALES. SATISFACTORY COMPETITION. (Feom Oub Own Cobhesponden?.) LONDON, July 14. On the 11th inst. the fourth series of colonial wool sales of the present year opened with 7153 bales. There was a large attendance of buyers, and competition was fairly satisfactory. The bulk of the offerings came from New Zealand (4171 bales). The selection was of a miscellaneous character, - merinos being only ]pa.rtially represented. So far as can be judged, however, Messrs Balme say that prices for these show practically no alteration from the rates current at the close of the May sales. Among greasy crossbreds, fine and medium grades are 5 per cent, and coarse par to 5 per cent, cheaper. Scoureds and combing slipes may be quoted fully 5 per cent, lower, but short-stapled slipes of all qualities sell at last series prices. For the entire series there will be available about 175.000 bales. THE PROGRESS. Writing to-day on the situation, Messrs Baime say that the result of the opening has been distinctly more favourable than had been expected from the course of events in the wool trade during the past few weeks. Fortunately, the strike among the woolcombers was settled prior to the beginning of the auctions, and competition in the sale room from both English and Continental buyers is quite normal, the Bradford section operating as keenly as ever among the various grades of wool suitable for their requirements. Prices for merinos show very little variation from the rates current at the close of the May series. Good shafty greasies, as well as short scoureds, are frequently the turn dearer, but burry wasting combing greasies and average to good scoureds are occasionally "* somewhat easier. Greasy crossbreds may be quoted from par to 5 per cent cheaper. For the finest as well as the coarsest qualities values show very little weakness as compared with previous rates, but on medium sorts a decline of 5 per cent, is usually noticeable. Scoureds and slipes are in large supply, and sell wit<h considerable irregularity. All grades of the former, as well as combing slipes, must be quoted fully 5 per cent, cheaper. Short stapled slipes, however, meet with a more favourable reception from the" trade, and realise figures which show practically ■no •alteration from the May level. Messrs Weddel mention that the results of the sales, so far, are eminently satisfactory, bearing in mind the adverse circumstances of the combers' strike in Bradford, and the unrest i ; n the labour wo.rld generally, which existed only a few days ago. Fortunately for holders of wool the combing mills are now working again, and buyers have been able to ""operate,' and it is mlore than likely that as time goes on the soundness of the industrial position will be even more clear, and users will appreciate the fact that there is not to be too much wool available for the next few months. Messrs Dalgety mention one encouraging feature of the series—-the presence of some half dozen buyers from the United States who have come here with the idea of replenishing their stocks if they can do so at a moderate figure. The tariff question seems to be shelved for the moment, and though some alteration in duties may take place next year, no change is probable in the immediate future. It is anticipated that a fairly large quantity of the wool catalogued for the current series will be carried forward to September. GRAIN. New Zealand Wheat. —The demand continues to be limited, with quotations at 35s to 35s 6d for longberry and 34s to 35s for shortberry per 4961 b. Some parcels, part long and short berry, arrived have been done at 32s 9d to 32s l£d, and on passage at 32s 3d to 32s 9d, and all' longberry, arrived oould be bought at 32s 6d ; per 4801 b, c.i.f. London. I New Zealand Oats.—The small quantity j of good quality available meets with a i good demand. Quotations are: Sparrowj bills 20s 6d to 21s sd, Gartons 21s to 22s 6d, '■ Danish 16s 6d to 18s 6d, and blacks 19s to j 20s 6d (both nominally) per 3201 b. Peas, —Messrs Weddell report very little demand for maples, and New Zealand No. 1 grade remain little inquired for, but some small sales are reported at 38s 6d to 39s 6d per 5041 b. There is nothing doing on a forward basis. Beans —The inquiry is limited. New Zealand descriptions are now quoted at about 34s per 5041 b (ex store). TALLOW. Although the demand for tallow has been" quiet, it is quite average for the time of year, and whereas prices were a little weaker last weak, both for spot and to arrive, the position to-day is again a firm one, with sellers disinclined for fresh business. Messers Weddel do not expect to see any lower prices during the next few weeks, unless North America shows renewed weakness, but this is not very probable. Current spot quotations for New Zealand and Australian sorts are: Mutton —Good to finest 34s to 36s per cwt, dull to fair 33s to 33s 6d, inferior 30s to 31s per cwt. Beef —Good to finest 32s to 33s 6d, dull to fair, 31s to 31s 6d, inferior 29s 6d to 30s 6d per cwt. NEW ZEALAND MEAT. For the fortnight arrivals of New Zealand sheep have totalled 91,000 The recent good demand for the New Zealand sort has hardly been maintained, but Messrs Weddel remark that there is no accumulation of stock, while values are only a shade lower. For best Canterbury brands 4£d per lb is obtainable for oar--9

.cases under 481 b, the medium weights realising 3|d to 4d per lb, and the heavy weights 3|d to 3fd per IK Best North Island sheep are offered at 3£d to 3|d per lb, and the secondary descriptions at 3fd to 3£d per lb. Ewes are freely offered at 3d to 3id per lb according to weight. Weakeb Mabket fob Lamb. The recent very warm weather has had the natural effect of curtailing the demand for all classes of meat, and, with some holders of lamb pressing sales, the market has weakened to the extent of £d per lb. The undertone, however, is healthy, for buyers are not overstocked, and have consequently to remain in the market for their immediate requirements. Messrs Weddel cannot quote prime Canterbury lambs, under 361 b, above 'sgd per lb, 36421 b at 4gd, and 42-501 b grades at 4|d per lb. Southland lambs are selling at gd under these quotations. Best quality North Island lambs of light weight realise 4Jd to 5d per lb, with medium weights at 4|d per lb, and heavy carcases at 4id per lb. Secondary qualities .are quoted at 4|d to 4gd per lb. ... Beep. The continued low price for chilled beef causes values for frozen to be low, with a continued poor demand. During the fortnight 11,400 quarters have come from New Zealand, 69,200 from Australia, and 33,400 from the River Plate. The C. 0. and D. Repoet. So) far this year the receipts of sheep from New Zealand total 1,193,027 carcases, an increase of 21,672 over last year. . The position of the total imports of frozen mutton has, however, undergone a considerable change. Five weeks ago there was a net increase of 279,225 carcases, to-day there is_ a net decrease of 150,302 carcases, a difference entirely due to the light receipts from Australia. It is therefore natural that a firmer attitude should have been adopted by importers in spite of the present restricted output, and although prices have not been maintained at the highest point touched, there is no apparent reason for any further decline. The output is a±mcst confined to the lightest weight carcases. Canterbury sheep of this description are worth 4d per lb, and North Island 3|d per lb, after at one time touching 3gd. Ewes sell at per lb.' '"•-• Total supplies of lambs so far this -"ear are 4,203,222 carcases, an increase of 625,861 carCaseson last year, in which New Zealand. Australia, and South America have shared almost equally. The proportionate advance is most striking in the case of South America.. The increase in the supplies, however, is actually less than it was five' weeks ago by nearly 270,000 carcases, and, as in the case of mutton, the improvement in the statistical position has been followed by advance in prices. In the same way also the latest prices are rather below the highest point marked. There is a certain flatness in the demand which is unexpected at this time of year, and the warm weather has certainly not increased the inouiry. Small carcases command the readiest sale and the most money. Light Canterburys are to be had for'sid, and medium weights for sd. Heavy carcases are slow -Jf sale at 4gd per lb. North Island lambs lange from 4fd to 5d per lb. Provinoiai values are- barely up to London standard; DAIRY PRODUCE. demand for New Zealand cheese is very firm, and the shipment per s.s. Rotorua now in is making 60s 6d to 61s, and it is expected prices may even rise to 625. Three more small shipments are on the w$y —the lonic, the Morayshire, and the Turakina having on board a total of 6570 crates. . For Australian butter Messrs Weddel mention a good demand. " '.'; By the New Zealand Loan and Mercantile Agency Company a strong- market for Canadian cheese (new season) is recorded, with higher prices, but New Zealand make is said to be meeting a quiet trade, and prices are inclined to be somewhat easier; it feels the competition of the new Canadian. The quotation for New Zealand is 60s to 61s, for new Canadian 57s to 58s 6d per owt. Of New Zealand butter there is practically none offering.