NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2896, 15 September 1909, Page 20

NEW ZEALAND PRODUCE IN LONDON.

(Feom Oxjb Own Coebespondent.) LONDON, August 6. wool. Since the close of the July auctions the only event of interest in the London wool market has been an inquiry during the present week from Yorkshire for greasy coarse crossbred wool. This, Messrs Balme state, has led to the sale of a few hundred bales at prices about 5 per cent, in excess of those current at the end of the late series. In the manufacturing districts the consumption of merinos is well maintained, but some complaints have been rife until quite recently as to the scarcity of fresh business in coarse wools, but latterly advices a» regards the volume of demand for this class of produce have been rather more favourable. For the fifth series of sales, to open on September 21, arrivals to date include 21,382 bales from New Zealand, 2500 of which have been forwarded direct to the Continent, Yorkshire, etc. K.Z. MEAT. During the week there have been no fresh arrivals of New Zealand mutton, but the C.C. and D. Company says that the supplies on land and afloat will, in the : present state of the market, be more than sufficient for the demand for some time to come. There appears to be a little more inquiry for mutton, but prices are not likely to advance until stocks are further reduced. Prime Canterbury sheep are worth less money, 2ld per lb being top value, while heavy and inferior grades ar,e making 2id to 2|d per lb. The value- of North Island mutton is unch tange ip« ranging from as low as ljd to 2&d per lbraccording to quality. . The position of New Zealand lamb is unaltered, except for a farther ■ dechnfi in values for North Island and Canterbury meat. The latter range from 3£d to 3|d per lb, but 3d is being taken for heavy-weights. North Island lambs aremaking onty 3d to 3id per lb, according to quality. There does not seem much chance of improvement for some little time Messrs Gordon, Woodroffe, and Co., m their report for to-day's mail mention I ™* fc owing to the blockage at the cold stores, ships Are discharging very slowly, but tne stocks are so much in excess that this is causing little or no inconveo* lence to the market except as regards Canterbury lambs, a.nd the general feeling is that, notwithstanding the enormous stocks of lamto in store, only a small percentage of thee© are from Canterbury. With the W prices ruling the demand has naturally fallen upon Canterbury lambs, more especially those weighing under 361b. If this continues, there may be some rise in vai u€6 , later on in this particular meat. lhe ? e is no doubt that the consumption of lambs is bein°- stimulated by the low prices current, and that the output ie i» excess of any previous year. Whether it is sumcient to overtake the enormous stocks before the end of the year, is a matter which is exercising the minds of all holders in London. Messrs Gordon, Woodroffe, and Co. remark that the shipments of lambs to this country from all sources this year up to July 31 total not less than 3,455,000, as compared with 2,878,000 last season, in the circumstances it is almost impossible to effect sak-a at the (present time, as all the largo firm* v\ho are usually buyers ex ship arc fully supplied for some time to come. CONTIXCED LOW PRICES OF XEW ZEALAND SHEEP. The position with regard to New Zee- t land motion, is almost without precedeot,

as that description is selling at lowefl prices chan are obtained for River Plate! Sleep. Messrs Gordon, Woodroffe, and Cc 'Bay this is having the effect of driving the retail trade on to New Zealand 1 mutton, and 1 consequently it is going into consump-. tion at a very rapid rate Stocks, however, are very heavy, one or two firms being 1 large holders. Owing to the heavy supply of good North Island sheep,' Canterbury and Southland descriptions are beingneglected by the retailer, and prices have fallen to a corresponding' extent. Smithfield fjpot prices are : C.M.O. and 0.F.M.C.sheep up to 481b 2fd to. 2gd, per lb, 481b to 561b 23d to 2ld, 561b to 6Ub 2 11-163 to 2 13-16 d; W.M.E. Co., up to 551b 2gc': to 2gd, 55ib to 651b 2|d to 2*d, 651b to 701b 2&d to 2id; fair average North Island sheep f SCK-b to 701b, 2d to 2|d per lb. Prices for frozen beef have- declined owing to iteavy supplies of chilled Ameri-i can beef, and trade oontiniues very quiet., FELTS. During the past four weeks arrivals of pelts have vbeen heavy, but Messrs Gordon,, »Woodroffe, and Co. write that the demand has been* well maintained. The result is that stocks are still in small compass, prices being quite firm, and in the case of, heavy sheep pelts suitable for splitting sometimes rather higher than thay were a month ago. It seems probable that prices of all classes of sheep and lamb pelts will now be maintained until the close of the season. Supplies are, however, very heavy, and any attempt to advance prices of-freez-ing lamb pelts generally stops' business.New "Zealand pelts are still relatively, higher than English domestic pelts, thisbeing especially true in the case of lamb pelts. TALLOW. , ' The market closes steady, with a ten* dency in favour of buyers. Stocks in warehouse are 10,961 packages, against 12,032 last year. There has been a good demand for parcels afloat and forward shipment, which have been taken at full rates. GRAIN. All spot stocks and close-at-hand oats are firmly held at late rates, but for shipment the inquiry is poor, and prices are considerably lower. Messrs Gordon, Woodroffe, and Co. mention that New Zealand qualities are neglected for forward shipment owing to the long time before their arrival here, and the improved reports of the Home crops. For cocksfoot the market is still quiet and unchanged, with practically no business passing, buyers still waiting to hear before operation the results of the Continental and American crops. New Zealand longberry wheat is quoted at 45s f.a.q. per" 4961b. FLAX. The market for hemp has lately become firm owing to the scarcity near at hand and on. the spot also being influenced by. the Manila market, which advanced considerably. Fait on spot soid at £23, and for near at hand £22 15s. Good fair has been done for> May-July at £24 and fair £23. Good fair September-October, £24; 'fair, £23. Since there were buyers up to £24 10s (good fair), and £23 10s (fair), almost any position. Messrs Gordon, Woodroffe, and Co. quote, the following spot values: Good fair Wellington, ex warehouse, £24 10s to £24 15s; fair ditto, £23 10s to £23 15s. DAIBY PBODTTCE. For colonial butter the demand is reported by the New Zealand Loan and Mercantile Agency- Company to be quietly steady at late routes. The market for cheese has remained without change during the week, New Zealand white and coloured being quoted at from 60s to 61s for choicest descriptions, while Canadian is worth from 57s to 58s per cwt.