NEW ZEALAND PRODUCE IN LONDON.

Evening Post, Volume LVI, Issue 98, 22 October 1898, Page 5

NEW ZEALAND PRODUCE IN LONDON.

[from ouk special correspondent.] London, 9th September. WOOL. In their report to-day of the London wool market Messrs. C. lialme & Co. tell me that the more promising aspect which trade has assumed in the manufacturing districts, both Home and Foreign, since the close of the war between Spain and America, lias beeu easily maintained, and in some quarters slightly improved upon, during the past week. The confidence of holders of merino and fine crossbred wool continues unabated, and the amount of raw material which has changed hands is, in consequence, exceedingly small, even in proportion to the reduced available stocks. In the coarser grades of wool a slight reaction has taken place from the lowest point, and such descriptions are, without quotable alteration, somewhat easier of sale than heretofore. The list of quantities available for the coming auctions will, as arranged, close on the 12i/h inst. To date, the arrivals total 231,772 bales, including 99,381 from New Zealand. Altogether about 27,500 bales of New Zealand and Australian, wool have been forwarded direct to the manufacturing centres. Yesterday the sixth series of public sales of woolled sheepskins of the present year was held. The quantities catalogued comprised 2717 bales, of which number 281 were from New Zealand. Messrs. Balme and Co. inform me that the material invprovement which has recently taken place in the wool market has enabled fellmongers to relieve themselves to a great extent of their stocks of pulled wool. Consequently the selection of skins offered met with a brisk demand, merino and fine crossbred wool marking an average advance of 7i per cent., while coarse crossbreds, though not quotably dearer, were readier of sale. As compared with the values current at the preceding sales held on the 28th July quotations are : — Full and three-quarter woolled merino, #d to id per lb dearer; short and shorn merino, yd to $d per lb dearer ; full and three-quarter woolled fine ci'ossbredfi, |d per lb dearer; full and three-quarter woolled coarse crossbreds, par. The seventh series has been fixed for the 27th October. NEW ZEALAND MEAT. Messrs. Weddel & Co. tell me that frozen meat has maintained its position relatively well, and that values on average show no appreciable change during the fortnight. The market closes steady, but the demand is feeling the adverse effects of large arrivals of Australian rabbits. Of course, too, the warm weather has naturally caused the demand for meat of all descriptions to slacken considerably. Quotations for fresh-killed beef and mutton of all kinds show more or less of a reduction. So far as New Zealand mutton is concerned, Messrs. Weddel say that the demand for best Canterbury sheep has remained slow, and that prices are maintained with difficulty, many buyers having at least temporarily reduced their operations in this class of meat, owing to its relatively high price. " There is/ continues this firm, "a good deal of irregularity in the quality of some recent arrivals, with the result that quotations show a wider range than usual — viz., from 3£d to 3£d, and occasionally 3|d per lb for best brands. Good secondary classes of New Zealand mutton are selling more freely at 3id to 3id, according to qualit}\ Inferior sheep are difficult of sale, heavy weights making 2^d and 3d, and ewes 2£d to 2|d, without' reference to brand. The market closes steady to firm for all prime sheep, except Cauterburys, which are rather weak." As the season has now far advanced the demand for New Zealand lamb has slackened materially, although the weather 'has remained favourable for the lamb trade. Sales at Smithfield have, I learn, been reduced by about one-half of late, but, nevertheless, prices have been fully maintained owing to the reduced quantities available, and the continued firmness of the principal holders. Scotch lambs were plentiful and cheap last week, and it was feared that the markets for New Zealand lamb would be forced to a lower level ; but the anticipated drop hasuot taken place, as the Scotch lambs have recovered in value this week. There are fair quantities of New Zealand lamb close at hand, Messrs. Weddel conclude, • but with stocks well concentrated prices are quite steady at the dose. Messrs. H. S. Fitter & Sons remark that the extremely hot and oppressive weather has seriously interfered with the demand for meat of all classes. Trade at the retail shops finished up badly at the end of last week, and at the beginning of this scarcely anything was wanted. Owing to the unusual heat large quantities of Scotch and Homekilled meat have arrived in London in bad condition, some of this was|condemned and the remainder very low prices. "With regard to New Zealand mutton, Messrs. Fitter say that for about two months they anticipate a slow trade for the season, for game and pork is now commencing. " The s.s. Waikato," they slate,' " has just finished discharging her lambs, but her meat has turned out in a very unsatisfactory coridition. The lamb prospects for next season are good, but we would again remind shippers that the greater number of the lambs should be about 361b. Smaller ones of about 301b find a ready sale in the provinces, and in London there ia a demand for a fair quantity of large lambs up to 48 or 501b. For frozen beef the demand continues very slow, and many of the parcels are in an uusatisactory condition." MISCELLANEOUS. For the few parcels of New Zealand wheat on offer there is no demand, and they are quite neglected. Quotations are nominal. The supply of new English wheat on the markets is so far small. The average price for it last week of 28s Id per imperial quarter marked a decline of 4s 6d per quarter from the previous quarter, and was 5s 6d less than for the same time last year. For New Zealand oats the market is firmer, with a little more business passing at recent rates. A quiet trade has been done in New Zealand oats, so Messrs. Weddel & Co. report, at from 31s to 32s per 5041b. During the past fortnight Messrs. Weddel say that no transactions in New Zealand flax are reported, but there are sellers of good Wellington at £24 per ton. Manila is steady, but inactive. Quotations are nominal. Both for preserved beef and mutton the demand is only moderate. Values for parcels on spot ai*e fairly well maintained, but for arrival prices are easier. There is no improvement to report in the tallow market. The demand has been very dull, and the last public sales passed off flatly, whilst privately the position of afl'airs has been characterised by excessive dullness, say Messrs. Weddel, who add that " the Home melt is still plentiful and sufficient for the moderate requirements of buyers. The public sales on the 7th instant passed off with meagre demand, only 320 casks finding buyers out of 1200 casks offered at previous rates. Business on c.i.f. terms has been limited, but some transactions have recently takeu place in good mutton arrived in the river at 20s 9d to 21s per cwb c.i.f." Supplies of salted hides are still small, and prices are well maintained for all descriptions. The position generally for rabbit skins is strong, and supplies are strictly limited.