NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2362, 1 June 1899, Page 15

NEW ZEALAND PRODUCE IN LONDON.

(Frou Our Own Correspondent.) LONDON, April 21. woor.

During the past week the position in the wool markets, both in England and on the Continent, has been well sustained. Messrs Balme remark that the evidence of improvement afforded by the " terme " market quotations has been confirmed by the results of the London woolled skin auctions held on the 13th and 14th inst., by the recent sale of River Plate wool in Liverpool, and by the rise in the price of merino '' tops " in Bradford. It is, moreover, satisfactory to note that the movement has had a distinct effect upon the values of fine to medium qualities of crossbred wool, while even the coarser grades are said to be slightly firmer. Ihe National Mortgage and Agency Company, writing to me to-day regarding wool, say that everything tends to point to higher prices at the coming auctions, which are to open on the 2nd May, especially for the finer haired descriptions, while the coarser grades are said to be rather firmer. A few thousand bales of New Zealand and Australian merino wool have been sold privately at about Id per lb advance on last sales' rates, but holders are reported as having confidence in the future, and are by no means anxious sellers.

For the coming sales the list of arrivals was closed on the 10th inst., and the National Mortgage and Agency Company say that s-everal New Zealand ships have been shut out, inchiding the Gothic, Hakaia, Pakeha, Taranaki, and Sterling. The net quantity available is about 186,000 bales, including about 60,000 bales from Xew Zealand.

The fourth series of sales has been fixed to start on the 27th June, the list to be closed on the 19th of that month, or on the date when 350,000 bales of new wool have come to hand.

KEW ZEALAND MEAT.

There has been a good demand, I learn, from the National Mortgage and Agency Company of New Zealand for meat from that colony during the past fortnight. As stocks in hand were very light, the recent heavy arrivals have not in any w.iy weakened the position, which is a very strong one. Both miitton and lamb are reported to have been going into consumption as fast as delivery could be obtained from the ships, and prices are firmer all round. Canterbury sheep, although rather dearer, do not show the same advance as other descriptions; 4d to 4Jd per lb is obtainable for prime quality, and up to 4Jd per lb for a few selected carcases. There are no Dunedin or Southland sheep offering. Those from the North Island are, say this company, quite id jjer lb dearer, and 3?d to 32d n.er lb has been.- made for a considerable quan-

tity this week. "Longbnm" brand has realised 3Jd per lb (ex store). The continued cold weather is somewhat prejudicial to the lamb trade. Canterbury lambs have been fetching 4gd to 4|d per lb, a few selected carcases selling up to 5d per lb. The lower qualities, however, are said to be firmer, and there are none from New^Zealand offering for less than 4£d. The market closes firm.

Weddel, too, say that the market for New Zealand mutton remains in a very satisfactory condition, particularly in the case of secondary sheep, where a sharp advance is noticeable;' Canterbury sheep are, still in short supply, and, although sales are^not numerous, values hav<| hardened, and now stand at 4d to 4Jd per lb.

About 500 quarters of New Zealand beef have come to hand within the past fortnight. That marketed has met with a good demand at about 3|d per lb for fores and 4§d to 4Jd for hindquarters.

In the opinion of Messrs Fitter, the marked advance in the secondary qualities of New Zealand mutton has been largely occasioned through the short supply of that from the River Plate and Australia.

Regarding lamb from New Zealand, Messrs Fitter remark that it continues to meet a good demand, and prices, no doubt, " would have shown a greater improvement had it not been for the fact that two or three large cargoes have lately arrived. The lambs are more distributed, and another drawback has been that the s.s. Aotea discharged her meat shipments in a very unsatisfactory condition; many of the carcases were spotted inside, others were misshapen and off-colour. Holders of these have been very anxious to get clear, and occasionally during the past week the market has been somewhat pressed."

MISCELLANEOUS.

For New Zealand oats, Messrs Weddel tell me that the demand has improved, and that several shipments from New Zealand have just come to hand/ and will be placed on the market in. a few days. Quotations are nominal. There are no New Zealand beans on offer, and prices are nominal.

There is little of interest to report in the tallow market for this week, as Messrs Weddel say that the transactions^have been of a very trifling character. The demand for- Austra— lian tallow continues very quiet, "and prices " are put down as being" 6d to 9d per cwt lower. For arrival there is very little inquiry. This is thought to be caused by the high prices asked on the other side, as. well as to the fact the United States have dropped prices considerably without business resulting, while South American cargoes have been underselling ihe colonies.

For New Zealand butter prices remain firm, and in some instances Messrs Weddel say that an'advance on last week's has been made. The Gothic and Pakeha have - arrived during the last few days with a considerable quantity of New Zealand butter. Prices are now 6s to 7s per cwt better than last year at this time, and 8s higher than in 1897.