NEW ZEALAND PRODUCE NOTES.

Press, Volume LV, Issue 9990, 21 March 1898, Page 6

NEW ZEALAND PRODUCE NOTES.

[FROM OCR OWN CORRESPONDENT.] LONDON, February 12. WOOL. The first series of colonial wool sales of the current year, which opened on the 10th ult., closed on the 2nd inst. It will be remembered that the sales opened with an average advance of 5 per cent, on merinos, which was soon increased to 10 per cent. Prices were only maintained at this level for a few days, when, in consequence of some falling off in consumption from the Home trade, a slightly weaker tone supervened, especially for faulty and inferior wools. Messrs Charles Balme and Co. state that the demand from the UniteO States was chiefly directed toward deep-grown, light-con-ditioned New South Wales and Queensland clips in the grease, which frequently obtained figures 15 per cent in excess of the December final quotations. Scoured wools made very full prices, although superior combing parcels did not move much until toward the close of the sories. Lambs' wool and finehaired clothing wools were unusually scarce, and realised extreme prices. With the exception of the finer descriptions and long lustrous growths, which rose 5 to 7$ per cent the conditions of demand have not been favourable to crossbred wool. Medium and coarse qualities during the first week gained 5 per cent., but upon the receipt of unsatisfactory advices from Bradford, the market weakened, and prices soon fell back to December rates.

It is satisfactory to hear that the New Zealand clip from the North Island is in very good order this season. The wool is bright, light in condition, and sound, but in some flocks the staple is rather deficient in length.

It has been pointed out- to mc by a prominent exuert that the fact ot the rise in values of merino wools being due to scarcity of the raw material, both actual and prospective, and not to any expansion of European consumption, makes a forecast of the course of prices in the immediate future hazardous. The smallness of stocks of merinos in England and on the Continent, the heavy falling off in the Australian clip since 1895, as well as the rapid change that has taken place of recent years in the quality of the Argentine production —65 per cent, of which is now stated to consist of crossbred wool—should render any reaction from the comperatively high rales now current for merino wool both limited in extent and of temporary duration, while, should the American consumers continue their purchases during the remainder of the season with anything like the vigour which has characterised their operations during the present series, a further improvement in values may be experienced. FROZEN MEAT. The Colonial Consignment and Distributing Company iuform mc to-day that there has been within the last week or so a slightly improved demand for New Zealand mutton, and more sheep have gone into consumption without any great fall in values. Prices are weaker, but there has been no great reduction except for large, heavy carcases, which holders now seem to realise cannot be advantageously kept longer. Some shipment* that came to hand in September are only ju9t cleared aud others are still in stores, to go out now, at low prices, with four months' storage charges incurred. "Really good sheep are scarce, any of handy weights and in bright fresh condition almost unobtainable, and there are buyers for such at comparatively high prices ; the parcel of seventy sheep said to be prize-winners at the Wellington Show selling at 4d per lb proves this. Very prime sheep in breed, shape, and make, many were too heavy and wasteful for general trade, but they were so bright and fresh they sold readily, and are said not only to have satisfied the buyer but pleased his customers as % well. This time last year afforded a similar example, a number of sizeable sheep of the same description making up to 4gd per lb, the heavier 3|d per lb, their bloom and fresh bright condition selling them as they did the parcel this year. Buyers are again receiving complaints from their customers of New Zealand mutton being dry and tasteless, and sometimes tallowy, as they did a year ago, when several gave up its use, substituting Dutch or home killed, until new season's fresh killed meat was procurable—a practice that will probably be reverted to this year. Quotations are difficult, sales have been msde at' such varying prices. The best 551b to 661b Canterburys have sold from 3d to 3Jd per lb, the higher prices probably paid for the brand, and was not the intrinsic value of the mutton. Canterburys of 661b and upwards have sold at 2fd per lb down to per lb for the heaviest, 701b to 801b; sheep of about 521b at 3£d per lb, but these light weights are scarce and sought after, and long lines of these could be placed if in fresh condition. Dunedins and Southlands can be quoted, the best light weights at 2£d per lb, 551b to 6.1b at 2£d per lb, heavier 661b and upwards at 2sd to 2|d, North Island mutton at 2gd to 2|d per lb, though a number of fresh landed were sold three weeks ago at 2d per lb." Messrs H. S. Fitter and Sons say—" The demand for frozen, mutton shows sign.of improvement, and, no doubt, prices would now have been better, had it not been for the large quantity of big, fat unsaleable sheep, and also sheep of very poor quality. The big sheep are utterly useless for the provinces, and find a very slow sale in London; consequently they are offered at very low prices, and therefore check the advance in prices which otherwise would have taken place. The demand for New Zealand lsmb is good, and as there are very few on the market, prices are very high. These prices cannot be expected to last when larger quantities arrive, but it shows" what can be done when the market is not over-supplied and a suitable article is I shipped." Messrs W. Weddel tell mc that "the quality and condition of New Zealand beef , leaves little to be desired." DAIRY PRODUCE. Messrs Weddel say that the demand for New Zealand butter continues good and prices have advanced 23 per cwt. Choicest | brands are now selling at 94s to 96s with, in very rare cases, 98 . " Finest" are about 85s to 90s. The 36,800 boxes of New Zealand and Australian butter to hand by the Kaikoura and Arcadia have been landed in good condition. With regard to cheese Messrs Weddel rerrarks —" The market continues dull and unsatisfactory. New Zealand is making from 38- to 41s. A large quantity of the Rangatira's cheese was not so good as the Rirautaka's, and it will require some time to ripen." MISCELLANEOUS. Low prices are ruling for rabbits, and in consequence dealers are paying more attention to them. New Zealand honey is scarce, and really pood quality would realise quite 35s per cwt. if not more.