NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2817, 4 March 1908, Page 9

NEW ZEALAND PRODUCE IN LONDON.

(Fboii Otjb. Own Cobrespondent.) I.ONDON, January 17. SHEEPSKIN BEPOBT.

Yesterday the first series of public sales Of Toclled sheepskins of the present year took place wilh a total offering of 3104 bales. New Zealand contributing 1121 bales and Punta Arenas coming second on the list with an offering of 646 bales. Messrs Balme and Co. write to me that there was a fair attendance of buyers, but competition was of a somewhat unsatisfactory character. Prices for merinos and for fine crossbreds ruled in average 5 per cent, cheaper, while" on the coarser sorts of crossbreds the decline amounted to 7J per cent. Pelts were not wanted, and a good many of the lots of ihis description brought forward failed to elicit t offers. As compared with the prices current at the sales held on December 19, Messrs Balme quotes -Merino, full and threeouarter woolled, id "to id per lb cheaper; inerißa half-woolled, id per lb cheaper; merino short and shorn, Jd per lb cheaper ; Crossbred fine, full, and three-quarter woolled, *d per lb cheaper; crossbred coarse, full, and Shree-quarter woolled, |d per b cheaper; croasbred half-woolled, id per lb cheaper; crossbred short and shorn, Jd per lb cheaper, lambs', id per lb cheaper. Current prices few New Zealand woolled sheepskins are: Merino iull-woolled. 6Jd to BJd per lb, against 6J<i to BJd at the preceding series; merino half 4o three-quarter woolled, s*d to 7Jd per lb, •gainst sjd to 8d per lb; merino short and shorn 33d to s£d, against 4Jd to 6Jd per lb; crossbred full-woolled, fine, 7±d to BJd, against «7Jd to 9Jd per lb; crossbred full-woo.led, coarseV 5Jd to 7Jd per lb, against 6id to 8d; crossbred half to three-quarter woolled, nne, 6Jd to 8d per lb, against sid to B£d per lb; crossbred half to three-quarter woolled, coarse, 5d to 6Jd per lb, against 5Jd to 7J<l; crossbred- short and shorn, 3id to 6Jd per lb, against 4d to 6Jd per lb at the preceding series. The aext sale of woolled sheepskins will take place on March 12, and the other fixturofl for the current year are: — May 7, June 25, July 30, September 10, October 22, December 17. WOOL. Messrs W. Weddel and Co. write that the past fortnight has witnessed some improvement in tie wool market, and values for both snerinqs and crossbreds have been rather better, showing a distinct recovery from the low basis which was ruling about Christmas time. The lowering of the bank rate has been followed by a more confident tone in the Jlome markets, and a more cheerful view is taken of the situation. Continental news, on the other hand, continues to be partly of a pessimistic nature, and_neitber Germany

nor France has shown much inclination <o follow Yorkshire's lead. The sharp advance however, in the future market is worthy cf notice, and it may quite well be that the situation is not so l>a*l as some wonlo! tary to make out. Trade continues up to the average, and there is a good consumption of raw wool going on, so that, taking one thing with another, prospects for the coming series of sales seem more favourable than appeared likely a few weeks back. Actual inquiry on the spot during the last few days has been all for merino wools, and these seem to be better placed than crossbreds- The new seriea of sales here begin on the 213t inst., The list of available quantities was closed on the 13th inst. with a total of 191,000 bales, Australia contributing 133,600 bales and New Zealand 41,100 bales.

DAIHY PRODUCE.

Messrs Weddel state that the great shortage of butter below the " choicest " quality is producing a peculiar and most unusual position, namely butter 10s or more per cwt in value below " choicest " in normal times is bringing within 2s to 3s per cwt of - the price of " choicest " description today. In consequence of this strange situation Australian butter of second-grade quality has approached the price of first grade, within Is to 2s per cwt, which is closer than ever previously experienced, and " choicest " , first grade Australian is selling at virtually the same figures as New Zealand. Siberian is fetching 112s to 114s. In fact, all secondary butter is bringing the prices of primary quality. The market is consequently very strong with prices of " choicest " at last week's figures, but lower qualities have all drawn up closer to " choicest." Shipments this week from Australia amount to only 16,600 boxes, and cables received from Australia advise that the previous estimated short-age of 7500 tons for the season must now be raised by an additional 2500 tons, so that the current estimate is for a deficiency of 10,000 tons, which is equal to 400,000 boxes less than last year. Arrivals from Australia this week total 68,990 boxes. Next week the arrivals will be about 41,500 boxes, and for the following week only 26,250 boxes. It is now possible to estimate very approximately the total arrivals of Australian and New Zealand butter during February, which will be : Australia, 137,500 against 203,500 last year; and from New Zealand, 92,000 boxes against 122.000 last year, making a total shortage of 96,000 boxes, which is equal to 3310 boxes a day. " Choicest " New Zealand butter is quoted at 118s to 120s, and Australian at 114s to 116s ; "finest" New _Zealand at 112s to 114s, and Australian at 108s to 112s. The demand for cheese is steady at prices unchanged from last week both for Canadian and New Zealand makes. Coloured is bringing Is per cwt over white. The lonic from New Zealand is bringing 18,000 crates. " Choicest " New Zealand cheese is quoted at 63s to 645, and finest at 61s to 625, against 64s to 655, and 62s to 63s for the respective classification of Canadian. TALLOW. There has been only a quiet demand with moderate business passing in the tallow market during the past two weeks, and Messrs Weddel say that at the public auctions held here on the Bth and 15th. inst., out of 2844 casks offered for sale only 990 found buyers, at prices showing a decline of 6d to 9d per cwt on all descriptions. The demand has been fairly good for hard mutton tallow and good mixed sorts, but for the low and medium grades there has been little inquiry. On o.i.f. terms values have also declined to about the same extent; 43Jdeg good colour mixed has sold at 30s 3d, and 48deg fair colour mutton at 31s 3d per cwt c.i.F., the latter near at hand. Spot quotations for New ZeaJand -sorts are: Mutton, good to 'finest, 33s to 34s 8d; dull to fair, 32s 6d to 335; inferior, 30s 6d to 31s 6d per cwt. Beef: Good to finest, 82s 3d to 33s 6d; dull to fadr, 31s 6d to 325; and inferior, 30s to 31s per cwt. W.Z. MEAT. During the last fortnight 72.000 carcases of New Zealand mutton have come to hand; the demand is slow and prices are easier. Values for prime Canterbury sheep alone keep fairly steady, in consequence of the scarcity of that description, for practically the whole of the recent arrivals consist of Nort Island and Southland sheep. Those from the North Island are on offer at reduced prices, but do not meet with a ready sale, as most of the parcels have been stored for some time. Quotations to-day are: Prime Canterbury sheep, 481b to 561b, 4d; 561b to 641b. 31d; and heavier weights, 3Jd to 33d per lb. North Island and Southland sheep are realising 3|d for light and medium weights, and 3gd to 3id for other descriptions; ewes are also easier at 3gd to 3d per lb. y Included in the small arrivals of lambs from New Zealand— 5000 carcases during the past fortnight— Messrs Weddel mention that a few have been of the new season grade, which although lacking much in point of quality realised in the neighbourhood of 6d •to 6Jd per lb at Smithfield. The bulk of the New Zealand lambs now being offered have been stored for some time, and present a somewhat stale appearance. However, they are practically the only ones to be obtained, and buyers who must use a few New Zealand lambs have been compelled to take these In spite of the cold weather ths lambs are going into consumption rather more freely at the following quotations: — Prime Canterbury— 2B-361b, s|d per lb; 36-421b grade, sgd per lb; 42-50lb, 5Jd per lb. South--and lambs are realising Jd to Jd per lb under ihese prices. The large arrivals of Australian l»mbs — 232,000 carcases during the last fortnight — are considerably in excess of present lequirements, and large numbers are going into store. Holders are still endeavouring to clear parcels of plain secondary lambs, but the demand for this description at present is so very limited that it is extremely difficult to effect sales, even at reduced prices. Good quality lambs, however, meet with fair inquiry, and values keep firm. The continued slow sale of beef is disappointing in view of the spell of colder weather Messrs Weddel say that forequarters are slightly firmer, chiefly owing to the moderate supply of chilled forequarters ; but hindquarters are weak, and the market is adversely affected by the low price of small South American hindquarters of plain quality.

The C.C- and D. Company announce the arrival this week of a total of 63,937 carcases of New Zealand sheep, brought by two vessels — thy "Whakarua. and the Maori. Tho demand for frozen mutton is anything but briak. but owing to a comparative shortage of prime quality new seasons the best grades are making a little more money. Canterbury sheep- aro being sold at 3gd to 4Jd per lb. and North Island descriptions at 3gd to 3£d per lb. There are indications that values have reached their lowest limit, and some slight improvement may reasonably be expected- Only a small shipment of new season New Zealand lambs has arrived during the week, amounting to 3102 carcases; this is not sufficient to give a reliable quotation. Old stock is quoted at 4£d to 52d per lb, and new season at 6d to 6Jd has been asked, at this latter figure very little business could be done. There is a slight improvement in th« demand for frozen beef, but not sufficient to induce higher prices.