New Zealand-Produce.

Gisborne Times, Volume V, Issue 143, 27 June 1901, Page 1

New Zealand-Produce.

The most interesting information received by last mail was that in regard to commerce. The London correspondent of the N.Z. Herald gives a very interesting summary of the position : In regard to the wool sales Messrs Balme and Co. say that although the saleroom continues to be well attended, competition is not so active as during the previous week. Continental buyers (who throughout the series have been the chief supporters of the market for merino wools), have recently somewhat curtailed the scale of their operations, while the Home trade are not particularly eager bidders for this class of wool. In these circumstances, prices for medium and inferior parcels, both scoured and greasy, weakened, and are now' somewhat below the highest point of the series. Tine-haired New South Wales clips, however, continue in great request, and command full rates. The finer qualities of crossbred wool, when in good condition, maintain last week’s prices, but values for medium and coarse grades, which Messrs Balme say form by far the larger preportion of the available supply, have receded, and now stand 5 per cent, below the level established at the opening of the auctions. In Messrs Weddcl’s report on the wool market, it is stated that a large assemblage of buyers has been in attendance since the opening, and prices for the general run of merino wool have somewhat improved, and are now about 5 per cent, dearer than the closing rates of the previous auctions. The demand for wool of really fine quality has been very keen, and a rise of 10 per cent has been established as compared with March prices. Competition on the part of American buyers for the better class wools has to a certain extent been of material assistance in giving strength to the market. Scoured merino has also sold well at 5 per cent, above previous quotations. Then with regard to crossbreds, Messrs Weddel say that the general characteristics of the market have varied only little. The finest descriptions, when in light condition, have been practically the only quality in vogue, and prices have ruled firmly at March rates. On the other hand, medium and coarse grades, the latter of which have been abundantly represented, have not been in favor, and have sold irregularly, at fully 10 per cent, decline. Crossbred lambs’ wooLhave also sold at about 10 per cent, lower than in March. Slipes have been in rather short supply. The finest descriptions have mostly sold at March figures, but all other kinds have relapsed 5 to 10 per cent, according to condition. The fourth series of sales is to open on July 2. Arrivals of New Zealand mutton for the fortnight had bSon heavy according to Messrs Weddel, who give the total figures as 163,000 carcases. This considerable addition to provious excessive supplies in London had assisted in further depressing tho market. There is, Messrs Weddol say, a serious congestion of stocks in cold stores, and difficulty is being experienced in arranging for warehousing rcaent arrivals. Efforts to effect sales and thus relieve the position, have resulted in a further lowering of prices, particularly of heavy sheep, without materially increasing the consumption, so quiet is the retail trade, and so little iuducemeut is there for wholesale buyers to operate at the moment. An unusually wide margin now exists between small and heavy weight mutton, owing to scarcity of the former and excessive supplies of the latter description. Arrivals of mutton from Australia have also been heavy, numbering 108,000 carcases in the fortnight. The beef market generally had shown less strength during tho past fortnight, particularly in the case of forequarters. This was partly the result of the warmer weather, and partly owing to the larger quantities of River Plate and New Zealand beef on hand ; but is chiefly the outcome of tho cheapness of mutton that makes that article more remunerative than beef for butchers to handle at present. Messrs Weddel report the demand for New Zealand butter is week by week restricted to fewer and fewer buyers, especially for the present consumption; those who are continuing to uso New Zealand butter are doing so only until they can get Irish or Canadian, buying for export to South Africa, or for cold storage is a necessity, as buyers cannot be found. Values are slightly easier on tho week, though “ choicest ” may be quoted at 98s to 100 s, and “ finest ” 92s to 965. During tho week there had been three small arrivals of Australian butter, and from New Zealand the steamer Rimutaka arrived with 6048 cwt. The demand for Canadian and New Zoaland cheese is about the same as last week, and prices are virtually unchanged. The Rimutaka brought 300 tons. Messrs Weddel remark that the amount of Canadian fodder cheese exported this season is much below the quantity last year. As to grass seed the Loan and Mercantile Company note that there is practically no business passing iff spot cocksfoot seed, of which a very small quantity is available in first hands, and for which 39s per cwt., ex warehouse, is being asked for good color 181 b seed of last season. The market for new season has now fairly opened, and some considerable business has been done at prices ranging from 32s per cwt. c.i.f., for 171 b medium color, while 41s is asked for 181 b, and 39s for 171 b bright seed. Messrs Weddel report that the tallow market was fairly active during tho fortnight, and the good demand for tallow has continued and prices ate unaltered, except for finest mutton, which is 6d per cwt. lower, while fine beef tallow is _ still very unsaleable at anything like a fair market value. The demand for the last month has been entirely for a large Russian order, rumoured to be 2000 tons, and when this order is filled it looks as if a quiet' time will be experienced, as the Home trade and other exporters are doing very little ; however, either of these may operate shortly. At the public auctions on the. 15th 1200 casks were sold out of 1600 offered at late rates to an occasional 3d per cwt. in buyers’ favor. The National Mortgage and Agency Company state that at three public auctions of tallow 4982 casks were available, and 2945 were sold. The demand throughout has, they say, been very dull and dragging, at a decline of about 3d per cwt. Fine mutton tallow has met with a fair inquiry, but beef, especially the dull sorts, has been difficult of sale. At tho auctions in the week of report fine mutton tallow also occasionally sold at 3d per ewt. decline. The shipments from Australia dunng April w’ere advised as 3600 tons, as compared with 3360 tons for the same month last vear. Imports for the past three weeks had amounted to 2827 casks from Australia and 4803 from New Zealand. To sum up it may be stated that the markets for produce from this district are not in the best form.