NEW ZEALAND PRODUCE NOTES.

Press, Volume LIV, Issue 9815, 26 August 1897, Page 6

NEW ZEALAND PRODUCE NOTES.

(FKOM OCR OffS CORRESPONDENT.)

LONDON, July 16.

From enquiries in the wool trade I learn that during the past week the general tendency has been in the direction of harder prices. A leading woolbroker tells mc that buying on United States account has varied from day to day with the news received with reference to the Tariff Bill, but, as at present, tho passage of that measure through the Joint Committee of the two houses appears not likely to be a smooth one, American purchasing may last longer than has been recently anticipated; meanwhile the competition from that quarter, though somewhat spasmodic, has continued to stimulate the market.

I am informed, also, since last week German buyers have considerably increased the acale of their operations, while French and English consumers have beea actively engaged. In these circumstances New Zealand and Australian greasy merino wools have steadily improved their position, and shafty combing parcels are now fully 10 per cent, dearer than at the close of the May Bales, while inferior and " wasting " growths have risen in value 74 per cent, from the game rates; scoured descriptions have not benetited throughout to so large an extent, being in comparatively abundant supply, and lacking, as they have done, support from America. They are, however, eagerly bought at an advance of from $d to Id per lb on tho final quotations of the previous series, the appreciation being most marked for the medium and inferior classes. The same informant writes to mc that fine haired greasy cro9sbreds, which have attracted a share of attention from United States consumers, are £d per lb higher in price than at the close of last sales, the advance frequently amounting to as much as Id per lb for light conditioned produce. Most other grades, however, though still freely supported by the Home trade, remain at May rates, but shabby, coarse, show some signs of irregularity. Scoured crossbreds constitute the weakest spot in the market, for though qualities approaching the merino more or less maintain their ground, other descriptions have given way. The fifth series of public sales of woolled sheepskins of the present year waa held yesterday, the quantities catalogued being 4838 bales, including 688 from New Zealand. There was a full attendance of buyer 3, but competition was somewhat lacking in animation, and a larger proportion than usual of the produce offered was withdrawn. Prices for merino descriptions were practically unchanged, while rates for crossbred skins ruled in the average some 5 per cent, lower, the depreciation being particularly noticeable for coarse-woolled parcels. As compared with the values current at the preceding sales held on the 27th May, Messrs Chas. Balme and Co. quote—Merino, threequarter and full-woolled, par ; merino, halfwoolled, id to £d per lb higher; merino, short and shorn, Jd per lb higher; croesbred, three-quarter and full-woolled, par to $d per lb lower; crossbred, half-woolled, par to £d per lb lower. The sixth series is fixed for the 2nd September.