N.Z. PRODUCE IN LONDON.

Otago Witness, Issue 3098, 30 July 1913, Page 21

N.Z. PRODUCE IN LONDON.

(From Our Own Correspondent.) LONDON, June 20. A QUIET WOOL MARKET. There is little change to report in the wool market. In their report covering the past two weeks Messrs C. Balrno and Co. mention that in the Yorkshire manufacturing districts, while quobat’ons for tops remain steady, rather less business is doing, and the recent improvement in the export yarn trade has not been fully maintained. There has been some inquiry in the London market on Continental account for heavy-con-ditioned South African greasy wools at prices showing a small advance upon last sales’ closing rates. The principal event of interest has been the opening of the season for English wools, which have been selling in the country at figures well above Bradford quotations. Messrs Weddel mention that merino wool remains steady as regards price, but there has been such a comparatively small inquiry that values can scarcely he said to have been thoroughly tested. In this country the trade continues to he well placed, in that consumption is still very well maintained, and sufficient work is on hand to keep mills going for a good while yet; but on the Continent business has not been so satisfactory, and both in ' Germany and France things have been quiet. The statistical position of fine wools is undoubtedly a strong one. and under more normal financial conditions n. greater desire in fact of the shortage from Australia, would assuredly be shown by spinners and others to make movision for the future, but with money dear and the outlook so uncertain users are acting with very great caution, only covering their absolutely immediate wants. The same remarks apply to the crossbred section. In the home demand there : s no cause for complaint, hut practically all departments connected with the rxnort trade are adversely affect/d by the d'fficult monetary conditions on the Continent, and the fact that although apparently progress lias been made towards (he settlement of (he Balkan affairs, a definite conclusion to the hostilities has not been absolutely arrived at. No fresh developments have occurred in the American situation, where uncertain!v with regard (o the adjustment of the tariff question still continues, and keep-; business quiet and dull. The opening of (he sales in July is awaited w : th considerable interest, and it is hoped that when buyers and sellers meet in the saleroom a better tone may be given to the market generally. GRAIN. Values of New Zealand wheat are only nominal, in the abser.ee of supplies. New Zealand Oats: The demand is chiefly conspicuous by its absence, and quotations arc nominal. Pca ; : Messrs Weddel report a good inquiry for the finest qualities available, and holders of these ask fully late rates. New Zealand Maples are rather easier for shipment. For No. 1 grade. June shipment, 42« 6d nor 5041 b, e.i.f. London, has been accepted, and 41s 3d for f.a.q. in the same position. Beans: Holders of New Zealand varieties have been compelled to accept lower pries in order to make progress with sales, and fair average quality parcels are now quoted at 40s per 50411). TALLOW, A DULL MARKET. During (lie past few days (he quietness which characterised the tallow market has developed almost into du’nec-s. and it looks ns if prices will have io ease off a little before buyers again appeal* in the market in earnest. r J here is now more mutton tallow about and verv low (lire and dregrrv parcels get more difficult to sdl every day. At the auet’ons this week 21/5 casks were offered. These came in fur a quad demand. Good to line muttons were neglected, hut the 858 casks of the other qualities sold, such as good mixed, and “no colour” sorts found havers at about late rales. On e.i.f. terms verv little (riding has hem possible. The colonies now show more disposition to go on selling, hut buyers .have run aw.iv r.nd there is a fill of 3d to 6d per cwt to record, and values most be regarded a? more or less nominal. Messrs Weddel do not think there are buyers of 431'deg- good colour mixed at anvth ng over 345. sellers at 34s 3/1 having, foi the moment at any rate, refused the lower figure. Cur. rent spot quotations are; Matron—Good to finest. 37- to 39s per cwt ; clidl jo fair. 36s to 36s fid per cwt; inferior. 71- to 35s per end.. TV. f -Good to finest. 35s to 37s 6d; dull to fair. 34/ 9d to 35s 3d : inferior 33s to 34s per cwt. N.Z. MEAT. Prime Canterbury sheep are rtl'l short and sell at 43d o'er !b for the 431b-56!h grade, and 4|d-4id for the 55!h-641h grade. Over that weight mutton is offered at 4d to 4J»d. Prime North Island carcases sell at 3|(l to 43d per lb. according to weight. Second quality sheep realhe 33d to 4),d. and ewes arc steadily selling at 3|d to 33d per lb. The lamb trade generally has not been quite so good for the last two weeks, hut Messrs Weddel record an excellent demand for very light weights, and for this description there has boon no difficulty in maintaining recent values. Medium and heavyweight lands;, however, have not been selling quite so well, and with holders continuing to press sales, the market has fallen away -harplv. Quotations are : Prime Canterbury land's under 36!h. 6sd nor lh; 361 h to 421 b. 5-jd; and 421 b to 50!h, grade at s£d. Best North Island lambs are quoted at s§d to 6f,d for under 42!h grade, and 51 d to 53d for over 421 b. Southland lambs are also on offer at the same quotations. Small secondary lambs have mot with a verv good inquiry, hut available supples are short and values are firm at 61 to 61d per lh. The™ hi* been a very good inquiry for

frozen beef, and prices arc dearer both for fore and hindquarters. DAIRY PRODUCE. There is still a good demand for “choicest” quality butter from New Zealand ; the supply, though, is virtually exhausted, except for a small quantity in second hands. New Zealand “choicest” salted is bringing 112 s to 114 s. Arrivals this week include 560 boxes from Now Zealand against 484 boxes during the corresponding week of last year. ' Messrs Weddel report the market for both New Zealand and Canadian cheese to ho firmer with a good demand. New Zealand white is making 6ls per cwt, and coloured 59s to 60s. Messrs Weddel not that the underwriters are treating the butter and cheese on the Turakina as a total loss, and arc paying accordingly. ■ The N.Z. Loan and Mercantile Agency Company, reports New Zealand cheese now to be far better value than new Canadian, but the volume of business passing :e not large. White is quoted at 60s to 61s, and up to 625; coloured 58s to 595, up to 60s. There is practically no New Zealand butter on rhe market, and the season may almost he regarded as over. For the few parcels available late rates are quoted.