N.Z. PRODUCE IN LONDON.

Otago Witness, Issue 3112, 5 November 1913, Page 19

N.Z. PRODUCE IN LONDON.

FIFTH SERIES OF COLONIAL WOOL SALES. (Fbou Ouh Own* Cobeespondext.) LONDON, September, 26. Competition was animated from both the Home and Continental sections of the wool trade when the fifth series of sales for the current year opened this week. Ihe catalogue on the first day comprised 11,011 bales, 7257 being from New Zealand. There was the usual attendance of buyers. Alessrs C. Balmo and Co. note that prices generally showed no quotable variation from those current at the close of last series for either merinos or crossbreds. Occasionally, however, some irregularity was noticeable in the rates paid for the fine and medium qualities of slipcs. The position of South African wools was also unchanged. Altogether, about 170,000 bales are available for the series.

KEEN PARTICIPATION ON CONTINENTAL 'A COO o NT.

In view of the ’somewhat quiet state of trade in English manufacturing districts during the past few weeks, the result of the opening of the auctions has been eminently satisfactory. The strength of the market is in a large measure duo to a keener participation by French and German buyers in competition than for some time past. Speaking generally, i Messrs Balmo say there is no appreciable alteration in values for any class of wool as compared with the rates current at the close of last scries. As regards merinos, the finest and best Now England and Geelong greasios arc ralising slightly more money than in July, while the position of other grades is practically unchanged. Fine and medium crossbreds in the grease command last sales’ prices, but the coarser sorts, which are scarce, occasionally exceed that level to a slight extent. Scourcds and slipes are in large supply ; the fine and medium grades of the latter sell somewhat irregularly, and occasionally fall short of July prices by id per lb, but the demand for lots of coarse quality is satisfactory at previous quotations. Competition for scourcds is more ■general than was the case last senes, and somewhat higher figures are frequently realised for the better descriptions. BUSINESS ACTIVE AND GENERAL. Fortunately for holders, the pessimistic views expressed in some quarters have proved groundless, as, with competition active and general, Messrs W. Wcddel and Co. report that merinos, both greasy and scoured, have been selling very fully on a full parity with previous rates, any change that there may be being in favour of sellers. Crossbreds in the grease have not been in largo supply, but all qualities have commanded do-e attention. The fine grades are steady ■ and unchanged, and medium and coarse lots, but especially the latter, are extremely firm on July prices. Coarse lambs are selling readily. Slipes have been offered dn good quantities, and eome attractive parcels have been submitted. The fine and medium quality lambs have been sold at a 2jr per cent, to 5 per cent, decline, but coarser lots have boon steadier. The shorter sheep’s wools are a shade easier in some cases. Scoured crossbreds have met with a much better demand than had been expected. In the report of the New Zealand Loan and Mercantile Agency Company it is mentioned that the tone of the wool market has continued buoyant, merino meeting a keen demand, both for Yorkshire and the Continent, prices of scoured sorts tending in favour of sellers. For slipe crossbred, which is in large supply, competition on home account is spirited, and some support is also being furnished by the Continental section. So far, United States buyers have practically remained spectators, and it would appear therefore that any immediate impetus to the demand from that quarter consequent upon the passing of the now tariff cannot be counted upon. GRAIN.

Wheat.—A slight decline in most country markets ia reported owing to liberal offerings of new crop English wheat. The current price is 3s per quarter lower than at the same time last year. On c.i.f. terms Messrs Weddel report only a. limited trade for New Zealand wheat, but some further business is mentioned in arrived parcels of longberry to London at 33a 6d to 33s Tjd, and to Avonmouth at 35s 3d per 4801 b. Now Zealand Oats. —The small supplies of old crop available are of little interest to buyers. Nothing is being done on a forward basis New Zealand.

Peas.—Old crop New Zealand maples are receiving little attention, and prices range from 38s to 435. New crop come in for a fair inquiry at 44s 6d to 46s for bettor qualities, and 42s to 44 s per 5041 b, ex store, for the medium to f.a.q. grades. Beans. —New Zealand varieties come in for a poor inquiry, and in order to induce business sellers have had to reduce their limits. As a result, some sales have gone through of good quality at 35s per 5041 b, ex store. NEW ZEALAND FLAX. In sympathy with Manila, the market for New Zealand flax has been dull, and prices have declined 10s to 20s per ton. The New Zealand Loan and Mercantile Agency Company reports a better demand at the close, the quotations given being: flood £air “spot,” £29 10s (nom.); OctobcrDecember, £3O; fair “spot,” £25 10s (nom.); Octobor-Docember, £23 15s to £26; and fair current Manila. £3O 5s per ton (c.i.f.). Tow is in fair demand, but little is offering; £l4 to £l4 5a is the quotation per ton for No. 2 quality. TALLOW. During the past fortnight the spot demand for Australasian tallow has been quite good, and a small drop in prices a week ago was fully recovered yesterday, and a good quantity of tallow has been sold both through the medium of the auctions and also privately. Meters Weddel mention that the demand has run more especially on the low and medium sorts, but good mutton has abo found favour, while the finest sorts of that variety—more especially beef —are still very difficult to move. Premier Jus is still very unsaleable, and until this quality

conics into demand sweet beefs must re* main more jess neglected. On c.i.f. terms a very limited trading has come about until the last few days, when a good deal of hard mutton tallow has gone at 36s 6d, c.i.f., with fair beef and mixed at 33s 6d to 33s 9d. These transactions have been in parcels, either on the river or close at hand, but the market for distant stuff is still a very dull one. The best price obtainable for the standard quality, 43sdeg. good colour mixed, is 33s 6d per cwt, c.i.f., with a few sellers at 3d per cwt more money. The New Zealand Loan and Mercantile Agency Company mentions the slight weakness apparent at the sales on the 17th inst., but as the market has now fully recovered it is hoped that prices will keep firm for some time to come. MUTTON. In the last fortnight some 140,000 carcases of New Zealand mutton have arrived, and those, coming to hand at a time when stocks in store arc comparatively light, have' met with a very good inquiry, and values have further advanced. There axe very few prime. Canterbury sheep being offered on the Sm:thfield market, the bulk of the recent arrivals finding their way into the hands of the contractors and some of the multiple shop firms. The market closes firm at the following quotations Prime Canterbury sheep, under 641 b, 4|d per lb; over 641 b, to 4|d per lb. Best North Island sheep are worth 4jd per lb for the under 641 b grade, and 4Jd per lb for the heavier grades. Secondary sheep are quoted at -4id per lb. The higher prices now asked for Now Zealand owes has curtailed the demand to a certain extent, and values close to-day unchanged at 4d per lb.

LAMB. There has been a marked falling off in, the demand for all descriptions of frozen lamb, and as stocks in store are fairly heavy it is generally anticipated, write Messrs Wcddel. that the market has reached the top, at any rate for the present. At the close a few small sellers were anxious to quit their hqldngs, and arc quotng somewhat lower prices. The bulk of stocks, however, continue to be fairly firmly held. Quotations for prime Canterbury lambs under 361 b. s|d to 5 11-16 d per lb; 36-421 b, sid to s|d per lb; over 421 b, 5d to 5Ad. North Island and Southland lambs are selling at s§d to s£d per lb for the under 361 b; to s|d for the 36-421 b; and 4jjd to 5d per lb for the over 421 b grade. Small secondary lambs are not quite so firm, but values are unchanged at sgd to s£d per lb. BEEF. Actual demand has not been brisk, but there has been a fairly active speculative inquiry during the fortnight, and for parcels afloat and for forward shipment very full prices have been realised. Spot quotations are accordingly Slightly firmer. CftHMXIUTIAI. CABLEGRAMS LONDON. October 23. The wheat market is steadier. From 35s Ijd to 35s 6d is asked for Australian cargoes. m October 29. The wheat market is firm, but there is a disappointing demand. The sum of 35a 4£d is asked for Australian November shipment, per steamer. The American visible supply is 100,932,000 bushels. Copper: Forward delivery, £70,15a. Tin: Spot. £lB2 ss; three months, £133 10s. Load, £2O 8s 9d. Silver, 27£d per ounce. I,inseed oil, £22 10s. Turpentine, 31s 4£d. Tallow: £25 casks were offered and 657 sold. Prices are unchanged. October 31. The stock of gold coin is £55,763,000; the reserve, £27,115,000; the proportion of reserve to liabilities, 54.45; notes in circulation, £28,728,000; public deposits, £8,714,000; other deposits, £41,061,000; Government securities, £11,788,000; other securities, £28,619,000. Short loans are discounted at 3J per cent, to 5 per cent., and three months’ bills as follows: —London, 5 per cent.; Paris, 3J per cent.; Berlin, 4J per cent. Consols are quoted at £72 17s 6d. The quotations for colonial Government stocks are unchanged.

In the Bradford wool market merinos are weak, but crossbreds are firm. Prices are unchanged. The wheat market is firm, but quiet, and prices are unchanged. Australian and New Zealand spot, none offering. The flour market is steady, and prices are unchanged. Oats are quiet. La Plata, January-Feb-ruary shipment, 14s 6d. Peas and beans are quiet, and prices are unchanged. _ - The butter market is quiet. Australian choicest salted, 123 s to 1245; unsalted, 124 sto 1265. The market is closing rather easier in> anticipation of larger arrivals and the news of heavy shipments this week. Secondaries, stored, are very dull. The cheese market is quiet. Canadian, 63s to 665. Jute: Quiet. November and December shipment, £34 10s. November 1. The copra market ie dull. South Seas, in bags, £3l 2s 6d; bulk, £29 I7e 6d to £3O ss. ... , The hemp market is inactive. OctoberDocember shipment, £29 ss. Cotton, November-Dccembcr shipment, 7.24 d. Rubber: Para, 3s 2£d; plantation, 2a 2d; smoked. 2a sd. v November 2. Wheat: The market is firm, though on ices favourable weather reports from tha Argentine it is disappointing in the demand for cargoes. Six thousand five hundred tons of Australian per steamer sold at 35a 4d. The quantity of wheat and flour afloat for the United Kingdom it 11.755.000 quarters, and for the Continent 1.720.000 quarters. The Atlantic shipments are 446,000 quarters; and the Pacino nil. The totals are: Europe 1,105,000 quarters, Australia 41,000 quarters. Rabbits: Flat and unchanged. Antimony; 2s 9d per unit of 50 per cent, of ore. SYDNEY, October 2a Tha price of bran and pollard has been reduced by 6a per ton. THE FROZEN MEAT MARKET. LONDON, November 2. The following are the latest quotation#

SHEEPSKIN SALES; LONDON, October 30. At the sheepskin sales 7000 bales were offered and sold. The New Zealand Loan and Mercantile ’Agency Company has received the following cablegram from its London office: —“ Merino Sheepskins id, crossbred sheepskins fully id, dearers”

for all classes of meat. In the case of those not quoted the price is unchanged: — ' * Oct. 25. Nov. 3. Canterbury motion, lighl „ matton, mod lorn •«A — — — — Canterbury motion, hoary — — — BonthUnd mutton 4 5-16 41 g.I. mutton, boat brands. 66-641b — i 7-16 H.I. mutton, ordinary, 6Q-641b . M.Z, owes — ■Australian motion, light _ •— — Australian mutton, hcary — — Australian cwm 3 11-16 — Hirer Plato mutton, light, iO-551b — — Hirer Plate mutton, hearr. 56-721b — • — Blror Plate ewes ... ... ... — — Canterbury lamb, light ... 6i *1 Canterbury lamb, medium — H Canterbury lamb, hearr — Jforth Island lamb, selected — 6 H H Vorth Island lamb, ordinary Southland lamb, selected ... - 5 1-16 6 Southland Iamb, ordinary — .. 6 1-16 'Australian Iamb, best brands >>r — *1 Australian lamb, fair quality 1| , — Australian lamb, interior — ii Hirer Plata lamb, first quality .„ Birar Plata lamb, second quality Baw Zealand beef, lores „ 3i S 7-16 Saw Zealand beat, hind* „ 42 *i Australian beef, lores „ mmm 3| H Australian beaf, hinds « 4$ P> Plate beaf, chiliad fores S 5-1G 34 P> Plats beef, chilled binds _ 5 5-16 61 P» Plate beef, frosen fore* „ Si P> Plate beef, frozen .binds _ ’f- " - • 4