NEW ZEALAND PRODUCE IN LONDON.

[FROM OCR own- corresponded!,

LONDON, January 1?. WOOL. ACCORDING to the date arranged, the first series of colonial wool sales of the present year opened on Tuesday evening with three catalogues, comprising in all 7824 1 ales, of which some 1330 were classed "New Zealand." Referring to the opening of this series, Messrs. Balme say there was a large attendance of buyers, both Home and Continental, and competition was general and fairly animated. As compared with the closing rates of the October-November auctions, Messrs. Balmo quote New Zealand and Australian merino wool 5 per cent, dearer; crossbred, fine, 5 per cent, dearer; and coarse crossbred at par. The net available supply for the series totals 539,000 bales, 209,000 being new arrivals, and the remainder old stock. In the report for to-day's mail, Messrs. Balme state that confidence has been gradually restored during the long- interval which has elapsed since the close of the last series, and the trade is now in a more settled state, both on the Continent and in England, than for some months past. The saleroom is well attended, and competition is widespread and animated, while French buyers, who operated very sparingly during both the July and October auctions, are purchasing now with freedom. The initial advance of 5 per cent, in. average for merino wool has been fully confirmed, and in some instances accentuated by the end of the week. Medium and good scoured wool has benefited most by the rise, and sells fully per cent, above last series' closing quotations. Similar qualities in the grease are also well competed for at quite 5 per cent, dearer. Some hesitation is noticeable in the demand for heavy and earthy ship- ' meuts, particularly if of old clip, which realises prices only slightly in excess of October final rates. Fine-haired crossbred wool is reported by Messrs. Balme to have moved in sympathy with merino wool, and may be quoted 5 per cent, dearer for greasy qualities and 7£ per cent, dearer for scoured wool and slipes. Medium qualities maintain their position, but coarse growths in the grease, although keenly competed for, are occasionally slightly cheaper. Values for scoured and slipes of medium and coarse quality have not materially varied. DAIRY PRODUCE. While the demand tor Australian butter this week has not been so keen as that of last week, Messrs. Weddel inform me that for butter from New Zealand there has been a more keen demand, and supplies of "choicest'' quality are exhausted until the arrival of the Paparoa, which is expected next week. New Zealand cheese is meeting a fair demand at 50s to 535, and in some cases 545. In the latest report on the Glasgow butter market, which I have received from Messrs. Mathie and William, it is said that New Zealand butter is coming to hand in very fine condition, while the quality and flavour show a decided improvement on the make of former seasons; so far it has been characterised by less fishiness of flavour than last year. The quotation in the Glasgow market for finest colonial butter is 105s to 108s. The first shipment of cheese from New Zealand, per s.s. Kumara, is stated as not having met with a quick demand, while some cf the brands " were found to be of last season's make, and very over-matured in flavour. The shinning of this latter class in the beginning of the season is somewhat unfortunate, and does not tend to enhance the reputation of colonial cheese." Messrs. Mathie and McWilliam give the following quotations for New Zealand cheese:—New season's, 54s to 565; old season's. 48s to 50s. NEW ZEALAND MEAT. By the C.C. and D. Company, 1 am informed that there have been no arrivals of New Zealand mutton. All the vessels have now discharged except the Wakanui, and she has nearly finished. lam told by this company that there is little or no improvement in trade for New Zealand mutton; deliveries at Smithfield are small, much below the average, and in the country they are not up to their usual numbers. Values keep high; stocks are in few hands, and not heavy; holders, knowing the lightness of shipments afloat, do not press sales, and are thus able to maintain the good prices now current. Prices at the Central Meat Market show little change. Very few Canterbury sheep are offered in lines; ono or two sales have been made at slightly enhanced rates, up to 4£d per lb, but others again Have realised 43d per lb, and this is abont 'be price made in the market. Dunedin and Southland mutton has sold at 4gd per lb; that from the North Island has sold for the same price for specially bright, fresh, and sizeable meat, while for the ordinary run of staler mutton, 4JO to 41d is the quotation. The market is almost bare of New Zealand lambs. Perhaps the only parcels now on hand are the few landing from the Wakanui. The C.C. and D. Company note that a.iy lambs of nice size, and fresh, good quality, would make 5d per lb for the limited numbers required. Trade in frozen beef has again this : week been very bad; prices remain an. they I were, but the Quantities sold are extremely i email.