N.Z. PRODUCE IN LONDON.

Otago Witness, Issue 3029, 3 April 1912, Page 19

N.Z. PRODUCE IN LONDON.

A DISTURBING FACTOR. AMERICAN WOOL MARKET FIRM, BUT QUIET. {Fbou Oua Own Cobrespondent.) LONDON, February 23. Ever 6inco the close of the first series of wool eales a quiet tone has prevailed in tho Home manufacturing woollen centres as regards new business, though top-makers and spinners continue to be well employed on old contracts. The New Zealand Loan and Mercantile Agency Company report that values have tended in favour of buyers, the threatened general coal strike being a disturbing factor, while business with the Continent has been disappointing. _ In America a firm but quiet market is reported. The exports of wool from Bradford to the United States during January ehow a marked increase as compared with the oen-nesponding month of last year, and should this state of affairs continue, crossbred* generally may be expected to benefit. Messrs Weddel remark that the possibility j of a national coal strike has naturally boon j a handicap on the market, sellers and buyers j aliko being shy of entering into any fresh' I commitments, otherwise the outlook is not unpromising, and it is confidently believed that once tho future is cleared, and the possibility of strikes out of the way, fresh orders would make their appearance. In the present circumstances and in face of j the possibility of a complete stoppage of ■ the mills, tho market for both merinos and ! crossbreds must bo considered to have s own up well, prices being more or less firm. Continental reports do not indicate any great change in the situation, and in the United States there has been no fresh development; it is expected that there will be some buying from that quarter at the coming auctions. OBAIN. N.Z. Wheat. —Although there is only a comparatively small quantity of N.Z. wheat offering, tho demand is only moderate. For half longborry and half shortberry on sample Messrs Weddel quote 38s 6d per 4951 b, this sum having been paid. On forward basis there is nothing doing. The average price last week of 34s 4d per imperial quarter English wheat marked an advance of 8d per quarter from the previous fortnight, and is 4s Id per quarter dearer than at the same time last year. N.Z. Oats. —Nothing offering; quotations nominal. In new crop there are buyers possibly at 22s 6d c.i.f. per 3201 b for A grade and 21s 6d for B Cartons, but no actual business is reported. Peas. —Maples continue unasked for on spot, and prices demanded are 37s 6d to 39s per 5041 b, according- to sample. There are offers of new crop New Zealand, AprilMay shipment. No. 1 Chamber of Commerce standard, at 38s 3d per 5041 b c.i.f., U.K.. but no buyers are to be found at t'tie figure. Beans. —Messrs Weddel say that higher rates are now asked for the limited supply j available on spot of N.Z. sorts, which a/re | quoted at 37s 6d to 38s per 5041 b, ex store. Cocksfoot. —According to the New Zealand Loan and Mercantile Agency Company there is very little demand for cocksfoot, but prices keep firm. Good French l seed with a purity of 85 per cent, and a growth of over SO per cent, oan be bought at 70s per cwt, ex warehouse. New crop NewZealand will Ik- difficult to sell early in the season, excepting at a low price, as buyers will want to wait until the results of tho Continental crops become known before operating. N.Z. STAX. The New Zealand Loan and Mercantile Agency Company stste that offers from the Dominion are very difficult to obtain, and quotations uro more or less nominal. Parcels near at hand and in flocks have mot some inquiry, but the market closes quiet ; at; a decline of about 10s per ton. Quotations are: Good fair spot—£2l 10s to £2l '

15s, February-April £2l 10s; fair spot—£2o 5s to £2O 10s, February-April £2O 10s; and fair current Manila, £2l 10s per tort c.i.f. Tow is in demand, but is very scarce; the quotation is £l2 to £ls per ton c.i.f., according to quality. TALLOW. During the last fortnight there has been a quiet demand, and although prices show little change the market is inert. On c.i.f. terms offers have been on a limited scale, but hero again buyers have shown little inclination to operate, nnd prices for near-at-hand parcels are easier. Good New Zealand mutton tallow has been sold at 355, and hard mutton at the same price, with fan- beef at 31s 6d to 31s 9d. For edible sorts there is, Messrs Weddel report, scarcely any demand. Current spot quotations are: Mutton—Good to finest 33s 9d to 35a 6d, dull to fair 32s 6d to 335, inferior 31s 6d to 32s ner cwt. Beef—Good to finest 33s to 355, dull to fair 32s to 32s 6d, inferior 30s to 31s pLT cwt. N.Z. MEAT. POOR DEMAND FOR MUTTON. The increased supplies of N.Z. slieep—--85,000 carcases have arrived within tho fortnight—have met with a poor demand, and values are weaker for all descriptions. By Messrs Weddel prime North Island brands are quoted at 4d to por lb, and secondary kinds at 3gd to 3Jd. Ewes are not plentiful, but do not realise more than 3id to 3gd per lb. fat;/., in lambs. Holders of new season's N.Z. lambs have been anxiously endeavouring to push sales, and as a consequence the market has fallen sharply. Although only a limited number of Canterbury lambs have so far come to 'hand, the market has not been able to maintain tho opening quotation of od per lb, in consequence of free offerings of best North Island at £d per lb less, and Canterbury lambs are to-day a weak sj}d por lb for all grades. Messrs Weddel report that best Wellingtons can easily be bought al sfd to s£d, while other North Island descriptions are on offer at s£d to s£d. Secondary descriptions at 4fd to 4|d per lba.ro almost unsaleable at the moment, buyers preferring good average quality Australian lambs at less money. i?eef—unsatisfactory market. Although stocks of frozen beef are unquestionably lierht; sales are of only a retail character. The moderate price at which chilled beef is selling is the chief means of tho restricted demand for frozen beef. DAIRY PRODUCE. iiutter market sound, cheese active. Markets generally have been rathor depressed all through the week in consequence of tho impending coal strike. Otherwise the butter market is in a sound condition, and prices of really "choice" produce are practically unchanged on the week. New Zealand butter is bringing 130 s to 132 a per cwt, both for salt and unsalted, with an occasional Is more for special brands. Some of the Australian butter is showing a falling off in flavour in consequence of the hot and dry weather; this is being sold at 126 s per cwt. Messrs Weddel write that the market for cheese continues to bo fairly active, and during the past two days prices of thla New Zealand variety have stiffened. Shipments of Canadian for the last fortnight are only 3000 boxes, and prices in Canada have shown a further advance, of Is por cwt. On tho spot there has been no change in price. Writing this evening, the New Zealand Loan and Mercantile Agency Company mentions that the Ruahino is in dock. Demand for N.Z. butter has proved very slow during the week, and prices are easier. The volume of business is somewhat restricted on account of industrial troubles. Trade in cheese is quiet, but prices are steady at 7Ls 6d to 72s for while N.Z. and 71s to 71s 6d for coloured N.Z., tho respective prices for Canadian being 74s to 75s and 73s to 74s per cwt.