NEW ZEALAND PRODUCE NOTES.

Press, Volume LIV, Issue 9669, 6 March 1897, Page 8

NEW ZEALAND PRODUCE NOTES.

3 (FROM OUR SPECIAL CORRESPONDENT.) I LONDON, January 23. 5 WOOL, f The first wool sales of the current year f open on Wednesday. It was generally . recognised that the dulness of the wool i market since the close of the December ; auctions, and the unsatisfactory tenour of > recent advices from the manufacturing _ centres at Home and on the Continent, fore- - shadowed a weakening in values. In these _ circumstances the fall experienced at the L opening of the current series, which took I place on Tuesday, was not unexpected, although in particular instancas the de- . preciation somewhat exceeded anticipations. The salerooms have been well attended, 1 all sections of the trade being represented. 1 Competition, however, has been rather ' irregular, although on Wednesday evening, . under the influence of freer participation by , foreign buyers in the bidding, and a few purchases on American account, a slightly steadier tone was noticeable. I learn that prices for superior merino 1 wools, both greasy and scoured, rnle closely up to December final quotations, while 1 medium to good parcels sell about 5 per ' cent., and faulty and inferior classes fully 5 per cent, below that level. Coarse cross- ' breds met with a ready sale at rates dif--1 fering but little from those of December. Values for the finer growths, however, 1 especially when in poor condition, show 1 some signs of weakness* FROZ*EN MEAT, i This is what Messrs N. S. Fitter and Sons i write to mc to-day with regard to frozen meat: —" The demand for frozen mutton is s steadily improving. There is however one » very serious drawback to the development • of the New Zealand trade, and that is the • quality of the mutton. We have often drawn attention to this, and have pointed out the fact that the quality of Australian : mutton was steadily improving,, and that the only chance New Zealand had was to go in for quality. Unfortunately, however, forward selling has made the competition among buyers very keen, and, in consequence, very many of the sheep lately to hand are very thin and weedy, the effect on the trade being this, many buyers who once sold nothing but New Zealand mutton have i been tempted to buy Australian, the result being that the demand for New Zealand mutton has not been improving. There is no doubt that this competition will increase in the future, and medium quality sheep will be still more at a discount." They quote Canterbury sheep 3d to 3|d, Wellington 2|d to 3d per lb. Messrs W. Weddel and Co. say that at the present time the frozen mutton market is in a very demoralised condition, aud that arrivals during the past fortnight have been ten times heavier compared with the arrivals of the preceding fortnight. Beside this, other large cargoes are due, and this being the case, they naturally say that it is not surprising to find tbat prices are easier. Canterburys are the only description which show any degree of firmness, and even they aae only selling at 3|d to 3|d per lb. The market closes very weak. Quotations for frozen lambs are merely nominal, as the arrivals from New Zealand have only been very small lately. Secondary and stale descriptions meet a slow sale at 3&d to 4d per lb. DAIRY PRODUCE. Writing to mc last Messrs Dempster, Paterson and Co. said—" We have to report a much quieter tone in our market for colonial butter to-day. In sympathy with the Manchester market we have an easier range of prices for choicest quality, viz., 104s to 106s, with seconds 100s to 102s. It is generally anticipated that the Copenhagen market will be easier for next week. The weather is cold and dry." This week the same firm say :—" Our market for butter to-day was very depressed, and low prices had to be accepted in order to effect sales. Large quantities of butter arrived here this morning fi*pra London, and were . freely offered? at 10#to 106s foi* choicest Australian and New Zealand ; 100s to 102s for good butters, but not so well known brands." Messrs W. Weddel and Co. tell mc that the market for New Zealand and Australian butter has been decidedly brisk, but prices are lower, resulting from the large arrivals which came to hand last week. For butters of not the finest grade the demand has been particularly good, and prices ranged from 90s to 98s. This class of butter has been above its intrinsic value in comparison with the best. Canadian cheese is still in eager demand, and is selling at from 53s to 565, some houses indeed refusing to sell under 555. A small consignment arrived by the Tongariro from New Zealand, and this met with a ready sale at from 52s to 545. Other consignments are expected in the course of a week or two. MISCELLANEOUS. . New Zealand oats have been fairly steady (so Messrs Weddel and Co. say), and late rates well maintained. New Zealand beans, on the other hand are easier, and transactions have only been oh a small scale. New Zealand flax was in slow demand at last Wednesday's sale, and most of the lots offered were withdrawn. Quotations are nofninal. Though preserved beef and mutton have been a little more enquired for during the past fortnight, the demand is still far from active. Arrivals during the past month have been heavy. It is not expected that there will be any material increase.in the demand for preserved meats while fresh meat continues at such low prices. Quotations are firm for mutton. The arrivals of rabbits are much in excess of requirements and prices easier. The late firmness in the tallow market was but short lived, and the demand soon fell off. Last public sales passed tiff very quietly, and there was a decline of 6d per cwt. for beef tallow. Hides are in moderate supply at the present time, and there is a prospect of values being maintained for some little time. There i 3 nothing fresh to report with regard to rabbit skins. Messrs Flack, Chandler and Co. say that copra is in steady demand, but prices show no improvement. The supply of bones is small, and prices were firm at the last auctions. A few particularly fine lots advanced to 10s per ton, but dirty lots were not in such good request, and showed a decline of 10s per ton.