N.Z. PRODUCE IN LONDON.

Otago Witness, Issue 3017, 10 January 1912, Page 20

N.Z. PRODUCE IN LONDON.

PROGRESS OF THE WOOL SALES. SATISFACTORY COMPETITION. CFnon Ora Own Correspondent.) LONDON, December 1. WOOL. The opening of the sales this week has not resulted in any material variation from the level of values current during the Wqptombor-October series. The tone of competition from both Homo and Continental buyers is of a satisfactory nature, while the American section of the trade is operating to a alight extent among the few lota of New Zealand superior gieasy crossbreds available. As regards merinos, Mesjsie 'Balm© write that the only actual variation in prices is noticeable among medium and inferior sooureds, which last aorioa sold with great irregularity. These descriptions may be quoted 5 per cent, dearer, but other grades, although in good demand, are not appreciably higher. Iho selection of greasy crossbreds, as is usual at this time of the year, is somewhat limited. Some of the better descriptions of fine Australian growth, as well as medium to fine New Zealand, are the turn, dearer. Otherwise quotations are unchanged. Scoureds and shpes, although not actually dearer than in September, meet with a much freer market and rule in favour of sellers. Messrs Wedded consider that an excellent start was mode, and the trade dhould ir„:~)irod with the confidence that seemed to bo somewhat lacking a few weeks ago. Messrs Dalgety find it encouraging to notice at lost some inquiry from America, oven though it may not be on a very large scale. The industrial and political outlook is certainly somewhat better than nt the beginning of October, but there is still a good deal of unrest in many quarters, and the general outlSbk for trade is not as good as it was 12 months ago. Buyers are therefore inclined to be cautious, and not buy too far ahead. It is thought that prices have .probably touched bottom, and should keep at about their present level for this series. Beyond this it is very hard to see at the moment, though this firm does not look for any very considerable move either up or down in the near future. GRAIN. New Zealand Wheat.—Although in the absence of any demand for this wheat, prices are nominally quoted at 35s 6d to 36s for the finer grades, and 34s 6d to 35s for the inferior sorts. Messrs Wed del observe that no sales are reported at these figures. Less money would have to be taken if business were to bo done. Some transactions on a c.i.f. basis are reported in parcels of long and short berry just arrived per Indralema at London, 33s to 33s 3d per 4801 b, and in parcels afloat to Avontaouth at 55s 9d. For shipment next month sellers ask 34s o.i.f. New Zealand Oats..—What little quanity there is available on the spot is firmly held at: —Gartons and sparrow bills, 2ls to 235; duns. 22s 6d to 25s 6d; Danish, 18s 6d to 19s 6d per 3201 b. Peas. —The trade in maple or partridge peas continues stagnant, and prices remain quotably unchanged at 38s t 0.415. per 5041 b ex store, while the demand for forward! shipment has also disappeared. New Zealand Beans. —These are firmly held at 35s 6d to 36s 6d per 5041 b. TALLOW—LOWER QUOTATIONS. During the last fortnight there has been a very quiet demand for Australasian tallow, and values are now fully Is lower for all descriptions. The fall has been ■brought about through lack of trade and pressure to sell South American, but from Australia there is really little pressure to sell, and offers are on a limited scale. For edible sorts there is still little or no demand, and oils continue weak. On c.i.f. forms prices of Australasian tallow ha% r e also dropped about £1 per ton, the latest sale reported of good mixed being 32® 4jd. Deoember-January shipment. Near positions have been difficult to sell, and with the exception of good mixed, other grades have been little inquired for. The following are the spot price? quoted by Messrs Weddcl:— IMJuititon- —good to finest 27s to 38s 6d per hundredweight, dull to fair, 35s 0d to 36s 6d. inferior 33s to 34s ; beef —good to finest 35s 3d to 36s fid. dull to fair 34s fid to 355, inferior 32s 6d to 35s fid per hundredweight. NEW ZEALAND MEAT. M OTTON. —VALUES ADVANCED.

During: the last two weeks only 4000 carcases of New Zealand mutton have arrived. The present position is a very strong one, and with the limited supplies hold in only one or two hands values show a further advance. Messrs Weddel quote Canterbury sheep of all weights as being worth 4|d per lb, and prime North Island sheep 4id to 4sd. Secondary descriptions are quoted at 4d to per lb. Ewes are linn, the few available realising 33d to 3id per lb. LAMB.—SCARCITY, For the fortnight 123.000 carcases of lamb have come from New Zealand, 58,500 from Australia,.and 12,200 from the River Plate. Although these arrivals are heavier than those of tlie previous fortnight, the good inquiry that still exists for all classes of frozen lambs has kept the market very steady, and late rates have been easily maintained. Now Zealand lambs arc now in short supply, the few Canterbury’s available being a free sale at sid per Jb for under 421 b grades, and 4id per lb for over 481 1>. Southland lambs realise 4sd per lb under 42ib, and 4id per Jb for over 421 b grades. Many buyers have now turned their attention entirely to the new season’s Australian lambs, which are selling very well for the time of tho year. Best quality are firm at 4gd, and 5d per lb is easily obtained for special “Champion” brand. BEEF. —FIRMER POSITION. Quito a spurt has taken nlace in frozen beef, and Messrs Weddel record with satisfaction an advance of about id per lb on forequarters, and fd to id per lb on hindquarters. Stocks available are only moderate. ' ' • THE C.C. AND D. REPORT. LIMITED OUTPUT OF 3JUTTQN. This week the only vessel arriving with New Zealand mutton has been the Rotorua with 4053 carcases. The limited stocks have compelled holders to adopt a very firm attitude with regard to prices, with the not

surprising result that the dull demand has received a further cheek, and the output has been reduced to very small proportions. Canterbury mutton can be bought in limited quantities at 4id to 4§d per ib, and North Island sheep are held for 3qd to 4ad per lb, the latter figure being the value of medium-weight carcases. New Zealand lambs are getting short, and quotations have teen advanced to ssd to sid per lb for Canterburys, and 4£d to sgd per lb for North Islands. There is very little New Zealand beef available.

DAIEY PRODUCE. The rise in the price of butter whicih took place a week ago has made the sale of New Zealand and Australian butter somewhat difficult, except at a slight decline In price. Messrs Weddel say that the quantity of colonial butter at present on the market is too email to permit of any great reduction in values, and if buyers try to force prices down very much it will be only a temporary result, and a reaction must occur. The amount of reserve stock in cold store L very small, and the quality is very poor. For some weeks the cheese market Iras been quiet, as it usually is in November. The Rotorua is to-day landing 8000 crates from New Zealand. Canadian is selling at 69s to 71p per owt., but the requirements for the Christmas market are expected to make business more active and probably raise values .at the same tbs#. Stocks of cheese in the United Stales aro about half of what they were last year at this time, As yet none of the Rotorua’s butter has been landed, though the vessel lg in dock. The New Zealand Loan and Mercantile Agency Company mention that the “spot” market is clear, from 130 a to 134 s f>eing asked for parcels .ex Rotorua. Factories which “ sold ” will now regret their action and those which consigned arc much to be congratulated ; 27.000 boxes are on board the Rotorua. A firm cheese market is reported by the New Zealand Loan and Mercantile, with New Zealand white at 63s and. coloured at 69s per owt.. Canadian white and coloured ranges from 69g to 71e per cwt.