NEW ZEALAND PRODUCE NOTES.

Press, Volume LV, Issue 10130, 1 September 1898, Page 3

NEW ZEALAND PRODUCE NOTES.

■■♦ ■ — [From Ocr Own Correspondent] LONDON, July 22. WOOL. The fourth series of colonial wool sales of the current year which opened on the 28th tut., closed on Monday. Of the quantity sold, approximately 91,000 bales have been taken for export, a few parcels having been purchased for shipment tc America. During the interval which preceded the sales, the uneasiness caused by the outbreak of war gradually subsided, with the result that the effects of the scarcity of merino wool, which had been somewhat lost sight of in Alay, again came prominently to the front. So tar as coarse wools were concerned, however, increased supplies from the colonies, coupled with the marketing of the English dip, tended to hinder any rally in demand. Competition from European consumers lias been both free and general throughout, and toward the close of the auctions buying on American account was occasionally* noticeable. Aledium and inferior grades of New Zealand, with the exception of heavy-condi-tioned wools, attracted special attention, and with some further accession of competition from (Jontinental.buyers, eventually marked a rise of per cent, on Alay rates, which appreciation in the case of scoureds frequently amounted to 10 pel cent. A large proportion of the daily offerings has consisted of crossbred wool. Although no lack of spirit was noticeable in competition, only the finest qualities have gained ground, rates for both coarse and medium grades weakening after the opening until they stood fully 5 per cent, below last sales' prices. "The prospects for merinos," say Aiessrs Balme and Co., '"appear to be amply secured by the circumstances both of supply and demand, while the revival of confidence which would be engendered by an early termination of the war between Spain and America, should not only sharply stimulate enquiry for fine wools, but would also probably afford some relief to coarse-haired produce. ' FROZEN MEAT. The C.C. and D. Company state that the Timaru has arrived with 12,830 carcases of Wellington mutton, which has sold at a satisfactory figure, c.i.f. This week a fair trade has been done in New Zealand mutton, and prices have been maintained. Best sheep, really prime Canterbury, continue very scarce, so this firm tells mc, and they are wanted. Inferior Canterbury sheep", merinos, ewes and suchlike are not in demand. There are not many Dunedin or Southland sheep on the market, the best, when in bright condition, sell at to an occasional 3£d per lb. For New Zealand lamb, demand keeps good, the numbers going into consumption being probably larger than in any previous week of the season. An even more satisfactory feature is that with lew exceptions, consignees are selling direct ex sliip as the lambs are landed, and though prices cannot be quoted higher, sales are generally at a remunerative figure, and all descriptions are finding buyers.