NEW ZEALAND PRODUCE IN LONDON.

Press, Volume LXVI, Issue 13910, 8 December 1910, Page 3

NEW ZEALAND PRODUCE IN LONDON.

("Weekly Press and Referee.")

CLOSE OF WOOL SALES,

VARYING CONDITIONS.

FLUCTUATING PRICES,

{-fROM OUR SPECIAL CORBISPONDKNT.)

LONDON, October 14. The fifth series of colonial wool sales held in London opened on SePte-mbo'* 27th and closed on the Bth mst. Altogether somo 128,000 bales were W- j able for tho series (including over 12,000 hales returned for re-sale), -Sew Zealand contributing 74,000 bales to the total Queensland taking second place with 21,000 bales Altogether fet 14,000 bales £eZ^ k en ol for S eToort,thoamonnt purchased for America being only about 400 bales. REVIEW OF THE SALES. Messrs Charles Balmc end Co. write tl,.t during ihe interval following .tho clot of the July f ieS 'L t t hO ,^ I s nC Tho feature in the wool market was the Sitv of trade in the facturing centres. Imports from JM Continent wore not of quite so.satisfactory a character, while in America business is still in a »mhtion. Throughout *.he sales there has been a large attendance, and while the Home trade has been the principal support of the market Continental buve?s have operated freely, and American purchases have been again insignificant. At the opening, all kinds of merinos ruled firm at previous rates. As the series progressed, competition became more general for wools of combing Icnrth, both greasy and scoured, and these descriptions may now be quoted about 5 per cent, above July prices; inferior greas.es and short iaulty scoureds, though easier to s 6 * l than in July, are not quotably dearer. I-ine crossbreds in the grease have not been in "reat demand, and they ruled the , turn cheaper than at the fourth series. The medium and coarse qualities opened with a rise of o to 10 per cent., but soon lost this advance, closing prices being little above those current at the end of the July sales. In sympathy with greasy wools, sliped crossbreds at first wero rather dearer, but they also failed to maintain their position, and tho fine and medium sorts have closed from par to 5 per cent, below Inst sale's prices, while coarse grades are unchanged from that level. Scoured crossbreds havo sold somewhat more regularly this s-ries, and the finest oualities may bo quoted 5 per cent, dearer, while the coarser growths have firmly maintained previous rates. THE OUTLOOK. "Prices for merino wools have during the last twelve months been on a high level," remark Messrs Balme and Co., "the rates now current being closoly tip to those ruling in September last year. Trade, however, in this country is in a satisfactory state, and as no very large supplies can reach Europe until the end of tho year, it seems likely that we shall see little change in values in the near future. As regards crossbreds, they will not be plentiful during tho nest series of sales, and should not experience much difficulty in maintaining their position." MUTTON PRICES HIGH. During the past five -weeks 188.591 carcases of New Zealand sheep have come to the total receipts for the year so far showing an increase of 139,272 carcases over last year. ; The C.C. and T>. Company state that the stocks in storo aro only moderate, and are mostly in strong hands, hut it must be confessed that tho current prices have had a decidedly restrictive effect upon the consumption. '"'" Only the absence of necessity to increase sales -permit present values being maintained. Canterbury brands are very scarce, and make up to 4Jd per lb for good light carcases, but heavy weights sell down to 4d per- lb. North Island sheep are not quite co firm as they havo been, but are still worth 3Jd to 4d per lb. Tho shiproentß afloat are light, and importers cannot replenish stocks to any extent until the new season's meat arrives. LAMB STOCKS REDUCED. So far this year tho imports of lamb from New Zealand total 3,388,741 carcases, showing an increase of 359,144 carcases over last year's figures, but the stocks are reduced to very moderate dimensions, and prices have shown an uoward movement. The demand, although it has declined considerably, has been maintained sufficiently well right up to the closo, and no lambs Khould bo carried over this season. Light Canterbury*, are in request at prices up to s|d per lb. and medium weights cannot ho bought under 5Jd per lb. North Island and Southland descriptions are worth from <sid to s|d per lb, but supplies are limited. BEEP. Tho C.C. and D. Company mention that chilled beef is more plentiful, therefore values for frozen have weakened, but good New Zealand and : Argentine hindquarters are still worth j 3Jd to 3Jd per lb, and fores about 2§d per lb. I