N.Z. PRODUCE IN LONDON.

Otago Witness, Issue 3102, 27 August 1913, Page 20

N.Z. PRODUCE IN LONDON.

THE FOURTH SERIES OF WOOL SALES. PRICES GENERALLY LOWER. tFuou Ocr Own Correspondent.) LONDON, July 18. For the fourth series of colonial wool sales of the current year about 177,000 bales were available (including 105,000 from New Zealand). About 129,952 bales were catalogued (including 72,265 from New Zealand) and some 67,000 bales were held over (41,000 being from Now Zealand) Of the quantity sold 43,000 bales wore taken for export, including some 2000 bales purchased for shipment to America. Messrs Charles IBalme and Co. write that since the close of the April-May sales business in the Yorkshire districts has been less active than during the earlier part of the year. On the Continent trade has also been somewhat dull, while in America the impending changes in the tariff are causing considerable inconvenience to traders. In these circumstances the result of the auctions must be considered satisfactory, as, although there has been some weakness noticeable in the prices paid for inferior descriptions, competition for all desirable lots has been well maintained. The report continues: “Among merinos the best classes, both greasy and scoured, have easily commanded May final rates — indeed, in some instances that level has been exceeded. Average greasies have ruled from par to 5 per cent., and faulty and wasting sorts fully 5 per cent, lower. The position of average to good scourcds, however, was practically unchanged, but inferior parcels were ifroqucntly 5 per cent, cheaper. Values for fine greasy crossbreds declined in average 5 per cent., the fall being most apparent on shabby growths. Medium grades were also 5 per cent, lower. The best lots of coarse quality realised practically May rates; but prices for ordinary and inferior sorts suitable for top-making must be quoted 5 per cent. down. Scoured crossbreds sold with considerable irregularity, especially the finer qualities, and values for all grades receded 5 per cent. Among slipes fine descriptions met with a good demand at about previous quotations; but medium and coarse wore from 5 per cent, to 7i per cent cheaper. THE FUTURE. “ Although there baa been some slight weakness in quotations during the auctions just concluded, th-’ prospects do not appear unfavourable. The comparative steadiness of the market during the past few weeks, while business has been hampered by the dearness and scarcity of money as well os by the anxieties caused by a fresh outbreak of war in the Balkans, strikingly illustrates the strength of the position, and suggests the possibility of some improvement in values for both merino and crossbred wools as soon as a settlement of the dispute in the Near East is arrived at, and the European money markets resume their normal conditions.”

In comparison with the closing rates of the July (1912) series, Messrs Balme quote the following prices for New Zealand wool:

Bv the New Zealand Loan and Mercantile Agency Company it is noted that the best descriptions of merino and coarse greasy crossbred wool throughout met with a steady demand at prices generally showing no change from preceding sales s closing rates, the exception being Now Zealand scoured merino, which ruled about o per cent, dearer. For wasty merino, medium and fine greasy, as well as shpe and scoured crossbred, however, the bidding showed considerable irregularity, scoured halfbrcd being more or less neglected, and the \voakness in these descriptions, manifest at. the opening, became more marked with the progress of the sales. Merino lambs wore m small supply, and ruled firm, while crossbred descriptions, which met a good inquiry, showed practically no change, though the extreme rates paid in May wore net always obtainable. The homo trade and France wore the chief operators. Germany showing lees activity than of late, while some support in the case of coarse crossbred was furnished from America; but there was no general buying for that quarter. There was a fairly firm tone at the close. MESSRS WEDDEL’S REPORT.

For all superior ..and good light greasy merinos there continued to be most excellent demand during the second half of the auctions. Home manufacturers and German spinners showed themselves especially interested in these descriptions. Up to Is oid per lb was paid for the best. For the medium lots and all seedy parcels and those of doubtful yields there was, however, not an altogether satisfactory demand, and with some irregularity closing prices were 5 percent. easier than in May. Superior scour.*!* sold unchanged and steadily all along. Lambs’ wool sold very well indeed, and was in strong' request Fine crossbreds improved a little under some inquiry on Scotch account. The best sorts firmed up, but closing prices on averago .wore about 5 per cent, lower than proviously. Medium qualities for a few days were inclined to go easier, the rcclassed lines being more affected than straight clips Closing catalogues found a rather bettor tone prevailing, and with prices more regular, opening quotations of about 5 percent. fall from May finsl rates were confirmed. The demand for coarse qualities was excellent all through, and was quite at its best on the last day, prices being on a par with previous auctions. Greasy crossbred lambs closed firm. Scoured crossbreds were irregular throughout. Fine and

medium qualities were mostly 5 per cent, easier. Slipes eased off as the sales progressed, and opening rates were not maintaind. Halfbrcd combing lambs finished in favour of buyers. Medium qualities were from 5 per cent, to per cent, cheaper than in May, and coarse grades about 5 per cent. The shorter fleece and seconds and thirds, although a good market, were irregular as compared with previous auctions, and the best prices were not available. At the finish the tone in the saleroom was satisfactory, bidding being spirited and fairly general—in fact, Messrs Weddel characterise the competition for the lower grades of greasy crossbred as being quite a fealux’c. Between now and September 23, when the next series of sales will start, considerable inroads will of necessity bo made upon existing stocks, and as these cannot bo augmented to any great extent by direct importations, it is fair to assume that the trade will by that time bo able to deal with the 154.000 bales which are expected to be available then. GRAIN. New Zealand Wheat; Prices are normal at 39s to 39s 6d per 4961 b. As regards business in new crop wheat for shipment, Messrs Waddel say there have been some offers received hero of Longberry for JulyAugust shipment at 36s per 4801 b, c.i.f., U.K., and upwards, but this price is not available so far, although 35s 6d has been put forward and refused. To-day’s value is about 35s to 35s 6d per 4801 b, c.i.f. New Zealand Oats: Values remain unchanged at 25s to 25s 6d for finest A grade Gartone, 23s 6d to 24s for ordinary grade, 22s to 22s 6cl for Duns, 21s to 22s per 3201 b fo£ Danish. The sale is reported of finest A Carton new crop at 25s 6d ex store, which is the figure asked for present shipment from New Zealand, but the price likely to be obtained is not over 22s 6d to 23s per 3201 b, c.i.f. Peas: Inquiry has practically disappeared, particularly as regards the lower grades, and the high prices being asked for New Zealand maples of good quality on spot are chocking the consumptive demand. Values for the better grades range from 42s to 45s per 5041 b, ex store. On c.i.f. terms No. 1 quality New Zealand maples afloat are reported sold at 42s 6d per 5041 b. Beans; These come in for very limited inquiry, and the nominal value of New Zealand sorts on the spot is 38s to 395. Offers have been received of f.a.q, new crop New Zealand beans for present shipment to the United Kingdom, but prices asked have so far proved quite prohibitive to trade resulting. TALLOW. There was an exceptionally good demand —though rather an unexpected one for the time of year—at the tallow sales held two days ago in London. Some 2323 casks were catalogued, and nearly all were cleared at prices—with the exception of good mixed, which was a trifle easier—that were very firm, with an occasional advance in the case of good to fine mutton. There is still a fairly large quantity of material to bo offered, but it looks as if it will be wanted. Messrs Weddel add that on c.i.f. terms a decidedly better market has been experienced, and the standard quality, good colour mixed, has boon sold in fair’y large parcels at from 33s 9d to 345, and to-day probably 34s 3d per cwt, c.i.f.. U;K. t would be obtainable. Good, hard mutton has gone at 35s 9d p<?r cwt, and there are still inquiries •at this figure. Current spot quotations for

! Australasian sorts are: Mutton —Good to finest 36s 9d to 38s, dull to fair 35s 9d to 36s 6d. inferior 35s to 34s 6d; beef—good to finest 35s to 37s 6d, dull to fair 34s 3d to 34s 9d, inferior 33s to 34s per cwt. NEW ZEALAND MEAT. MUTTON —DEMAND FAIR—SOME FALL IN PRICE. For medium and heavy-weight sheep there lias been a fair demand during the last fortnight, but Messrs Weddel record that light-weight mutton has been seriously affected by the low values now ruling for the heavy-weight lambs, and consequently values for the same have fallen id per lb. Canterbury sheep of prime quality, under 561 b, are quoted at 4id per lb., but tho 56-6411) and the over 641 b sheep are unchanged at 4g-|d per lb respectively. Prime North Island mutton is selling at 4g-id per lb for tho light and medium weights, and 4d for tho heavy-weights. Second quality wethers are worth round about 3gd to 4d per lb. Ewes are steady at 33d per lb. 1 LAME—LOWER PRICES ' There has been a marked falling off in the demand for lamb during the past two ■ weeks, and with sellers continuing to force I sales as much as possible, closing values show a further fall of Id per lb.- as compared with those ruling two weeks back. At the close, however, a slightly better feeling ie manifest, and buyers are showing more inclination to operate at the comparatively low levels now rulintr. Messrs Weddel quote: Prime Canterbury lambs, under 361 b s§-3d per lb. 36-421 h at s£d per lb. and 42-50'b 43d nor lb. Best North Is'and and Southland lambs can bo quoted at id under these prices for the respective grades. Secondary small lambs are again in short supply, and sell readily at sjd to s|d per lb. I RF.F.F. i Frozen hindquarters continue to meet with a very fair inquiry, and recent high values have been easily maintained. Forequarters. however, have not met with quite such a good sale, and values changed are a shade easier.

Merino in grease, good condition ,, „ „ poor condition ,, ,, inferior pieces and '.oc ks scoured superior ,, „ average to good .. ,, ,, inferior . Crossbred in grease fine superior .. „ ,, „ fine ordinary „ ,, medium superior „ „ medium, ordinary „ ,, coarse, superior .. „ coarse, ordinary .. , ,, lambs, superior .. lambs, ordinary .. „ scoured, fine medium and coarse .. —

Current prices. Prices July, 1912. Per lb 8. d. s. d. B d. s. d. Jcl to Id cheaper 1 0 to 1 2i 0 Hi to 1 4 Id cheaper 0 9i to 0 Hi 0 9 to 0 H par to 1<1 cheaper 0 51 to 0 9 0 41 to 0 H Id dearer 2 0-J to 2 2 1 10 to 2 0 Id dearer 1 91 to 2 0 1 71 to 1 91 par to Jd cheaper 1 4 to 1 9 1 0 to 1 7 Id cheaper 1 01 to 1 3 1 1A to 1 3 Jd to Id cheaper 0 j.0 to 1 0 0 91 to r 1 Id cheaper 0 m to i 01 0 11 to 1 U Id to Id cheaper 0 91 to 0 11 0 9 to 0 101 par to id cheaper 0 11 to 1 0 0 10 to 0 11J Id cheaper 0 8J to 0 101 0 81 to 0 91 jd to Id cheaper 0 111 to 1 H 0 11 to 1 01 Id to Id cheaper 0 8 to 0 11 0 7 to 0 101 Id cheaper 1 4 to 1 101 1 31 to 1 9 Jd to Id cheaper 1 Oi to 1 6 0 11 to 1 51 par to Id cheaper 0 1U to 1 51 0 11 to 1 5 Id cheaper 0 11 to 1 3 0 lOi to 1 o Id cheaper 0 10 to 1 H 0 9 to 1 0