N.Z. PRODUCE IN LONDON.

Otago Witness, Issue 3101, 20 August 1913, Page 19

N.Z. PRODUCE IN LONDON.

THE WOOL SALES. SOME FALL IN PRICES. (Fbou Our Own Correspondent. 1 LONDON, July 12. Competition in tho sale room has been fairly well maintained during the past week, but prices for inferior merinos and the finer crossbreds have slightly receded. Messrs Balmo report that among merinos the best classes, both greasy and scoured, easily command May hnal rates. Indeed, in some instances that level is exceeded—notably among New England,greasies and New Zealand merinos. Average wools, however, occasionally sell in buyers’ favour to a slight extent, while inferior sorts v must be quoted 6 per cent, cheaper than at the close of last series. Values for fine greasy crossbreds are in average 5 per cent, below May prices, the decline being most apparent on shabby and faulty growths. Medium grades arc also 5 per cent, cheaper, but tho best lots of eoarso quality, realise fully previous rates, and only among tho ordinary and inferior sorts suitable for top-making is any weakness noticeable. Scoured crossbreds sell somewhat unevenly, especially tho finer qualities, and, speaking generally, prices for all grades must bo quoted 5 per cent, lower. Among slipes, fine descriptions soli readily at a decline of 2£ per cent, from last series’ level, but medium and coarse have further weakened s : nco tho outset of tho auctions, and nowrule from 5 to per cent, cheaper than in May. Ovvng to a largo quantity-—chiefly New Zealand crossbreds—being held over for tho September sales, Messrs Balmo mention that the series has been curtailed, and will close on July 15. NEW ZEALAND MEAT. MUTTON —SOME IMPROVEMENT IN VALUES. During the past four wee Its 363,621 carcases of New Zealand muton have come to hand, bringing' the total for the year to 1,354,741 carcases, or 35,352 carcases short of last year’s figures at the same date. In spite of tho largo recent arrivals, tho C.C. and D. Company report stocks to be in very moderate coinpass, and tho numerous inquiries received for hues at current rates clearly indicate tho position. It has boon possible, therefore, to make some improvement in values, and, although this has been done at tho expense of tho output, the reduction gives no ground for anxiety. Tho bottom price for heavy North Island mutton is per lb, medium weights are worth 4id to 4gd per lb, and light weights command 4gd per lb. At these figures the quotations are very firm, but it is still possible to obtam ewes at prices down to 3J<l pe.r !b. Canterbury brands are not in evidence on tho market and cannot be quoted. LAMB—-PRICES TENDING DOWNWARD. Receipts have reached tho largo figures of 643,072 carcases from New Zealand, 23,70-4 from Australia and 71,895 from South America; but tho total for tho year from all countries is still short by 79,711 carcases. Tho 0.0. and D. Company state that prices

have shown a steady downward movement under the influence of the heavy arrivals, and the- keen anxiety of many importers to realise their stocks has prevented any successful effort being made to support tho market. The lower range of values has, of course, stimulated the demand; but buyers aro prepared to pay a considerable premium for the light carcases which they want. This grade, therefore, shows tho most strength, although small Canterburies can be bought at s|d per lb, and small North Islands at id per lb less. Medium and heavy weights are far more difficult to sell, Canterbury B’s are only worth sid per lb, and 4’s aro quoted at 4|d to 4&d per lb, without finding many buyers. Messrs Dalgety mention a further dcclinf in the price of all descriptions of froze* lamb except very light carcases, which; Curiously, no matter how plain, ore in greafe demand, and, if anything, firmer in price. For instance, a 271 b second-quality North Island lamb is actually worth more than a prime 321 b Canterbury lamb. Heavy lambs are the most difficult to sell, and have fallen at least id per lb. This haa curtailed business and weakened the value of small mutton. BEEF. New Zealand beef is scarce, and there is hardly enough Australian for the demand; but River Plato is fairly plentiful. New Zealand hindquarters are quoted by tho C.C. and D. Company at 4id per lb. and forequarters at sid per lb. CANTERBURY MARKETS. CHRISTCHURCH GRAIN AND PRODUCE REPORTS. (Lyttelton Times, August 16.) Extreme , slackness is still the leading feature of the grain and produce markets, buyers showing almost absolute indifference about purchasing at current rates. Offerings from growers of both wheat and cats aro still within, narrow compass. A considerable amount of both cereals is still held in stores, but, prices having cased since the purchases were made, holders are in tho unsatisfactory position of not being able to unload without incurring loss. The reduction of freights to Britain to 25s per ton will not. it is generally anticipated, lead to any material increase of exports, the prices ruling in tho Home market being too low to enable trade to bo on the basis of tho values now current in the Dominion. Tho downward tendency which ha* marked the. potato market for some weeks still continues, and buyers have still further reduced their limits, the current price ranging, from 35s to 40s. on trucks at country stations. These prices are not enticing to holders, and many of them still persist in standing out for higher prices, arguing that tho vaTucs ruling in tho Commonwealth would warrant ■ higher prices in the Dominion. Owing to increased supplies, tho price of fresh eggs has been, reduced to 10d per tlozon. The- following quotations are for purchases from farmers, net cash, sacks extra, delivery at country stations:— Wheat—Tuscan, 3s fid to 3s 6d; Him tors, 3s &id to 3s 7£d; Pearl, 3s 9d to 3s lOd. Oats —Gartons, Is lid to 2s 3d; Duns, Is lOd to 2a Id; Danish, is Dd to 2s 2d; Algerian, Is lid to 2s Id. -- liarley—Malting, 3s 6d to 3s 5d per bushel, according to quality.^ Partridge Peas—-5s 4d to 3s fid. Chaff—£3. Potatoes —£1 15s to £2. Flour —T 9 per ton; 1001 b bags, £9 10s; 501 b bags, £9 15s; ‘2slb bags, £lO. Bran —Local, £4 15s; f.0.b., £4 10s. Pollard—£6 per ton. Oatmeal—£l4 10s per ten. Seeds —Ryegrass, Italian and Perennial (farmers’ parcels), 2s to 2s 6d; machino-dre-ssed parcels, 3s 3d to 3s 9d; cocksfoot, 3id to 3gd; plain seed, sd; white clover, to lOd Dairy Produce —Cheese, dairy largo s£d ; factory, largo 5Jd to 6d. Butter, fresh local factory prints, Is 4d; second grade. Is 3d; farmers' separator, lOd ; farm dairy, Pd. Hams, lid; sides. 9jd; rolls. 10id; rolled hams, Hid Lard pats, Hid. Eggs, lOd per dozen.

TIMARU,

(Timaru Herald, August 16) A few sales of 'grain haffe been made locally during the week, but generally epcakfog She market is quite m sympathy with the lower values ruling at Homo. for London have come down during the week from 30b to 25s per ton but: shippers Bay that the reduction is not sufficient to enable them to ship wheat Home with a margin of profit, freights, they say, will require to come down to 17s 6d oi 20s before they will consider sending shipments Home. 1 Millers are fairly well stocked and the bulk of the pram is now concentrated in the stores. There were those in the grain trade who predicted a few months ago that wheat would go up to 4s 6d towards the spring; but they have now changed their opinion, because they find that there is a much larger quantity oi wheat in the country than they had supposed. They express the opinion now that prices are not likely to go higher thart they now are. Velvet is worth 4s. and for extra prime linos 4s Id can be obtained. Red Chaff finds buyers at 3s 9d to 5s 9id; and Tuscan at 3s 5d to 3s 7d, all on trucks Timaru. Fowl wheat is fetching 3s od i.0.b., s.i. , . , . The oat market is very quiet, only a hand-to-mouth business being For ordinary lines of good Cartons 2s is being paid, and 2s Id for extra choice #i in pice, on trucks at country stations. Oatsheaf chaff is soiling in small quantities at £3 ss. country stations, sacks extra. The potato market has been a great surprise this season. A' large quantity of potatoes was held by growers all through the -season in anticipation of high prices towards the spring. Many growers refused £4 10s per ton in the autumn, and to-day the same potatoes are worth only £2 10s. They have to bo well graded and in new sacks to find buyers even at this price. This refers to table varieties. There is a pood inquiry for early seed at up to £7 ,10s per ton for small lots. For later seed there is comparatively lit tip demand.