NEW ZEALAND PRODUCE IN LONDON.

Evening Post, Volume LVI, Issue 26, 30 July 1898, Page 5

NEW ZEALAND PRODUCE IN LONDON.

[FEOil OUR, SPECIAL CORRESPONDENT.] London, 17th June. WOOL. Messrs. Charles Balme & Co. inform me this week that there has been no actual change in the situation of the wool market. The improved tone lately noticeable in the manufacturing districts is well maintained, and so far as merino wool is concerned prices show a hardening tendency. Crossbred wool is in better demand, and mark a small improvement on the lowest point ; values, how* ever, are still depressed hy the large supplies, both actual aud prospective, of this class ot produce. Yesterday the fourth series of public sales of woolled sheepskins of the present year was held, the catalogued quantities comprising 3220 bales, of which 626 bales were from New Zealand. There was the usual attendance of buyers, who operated with considerable freedom, especially, I learn, for full-woolled merino and the finer growths of crossbred produce, which marked an appreciation of 5 per cent. ' The following are the quotations as compared with the prices curvent at the preceding sales held in April last: — Full and three-quarter-woolled merino, per lb dearer ; short-woolled merino, £d per lb dearer ; shorn, unchanged ; full aud three-quarter-woolled fine crossbred, id per lb dearer; full and three-quarter-woolled coarse crossbred, unchanged ; short and shorn crossbred, unchanged. The fifth series of sales is fixed for the 28th of next month. NEW ZEALAND MEAT. Although there have been no arrivals of sheep from New Zealand during the past fortnight, Messrs. "W. Weddel & Co. tell me that stocks of North Island mutton are fairly heavy', but that very few Canterbury and Dunedin sheep are obtainable. " The scarcity of prime Canterbury sheep," they say, " is more pronounced than ever. In fact, so short is the supply that dealers find great difficulty iv supplying their usual customers with suitable sheep. Anything really prime, averaging about 601b, has been realising 4d per lb, while for good Canterburys of similar weights 3|d per lb can be made. Canterbury's, 641b to 721b, have been in good demand, but unfortunately, like the small and medium weight description?, there are no quantities on offer. The best of these have sold at 3£d to 3|d per lb. Extra heavy Canterbury sheep have noli been setting so well during the past fortnight, and although 3d per lb has been made for a few of the best, 2£d per lb has had to be accepted for the majority. There are very few Dunediu and Southland sheep available. A small lot of medium weight sheep have sold well at 3^d to 3sd per lb. Heavy grades at 2s d to 2f d per lb, according to quality. North Island mutton is not so firm as it was at; the time our last report was issued. Small sheep can now be quoted at no more than 2*d to 2|d per lb (the latter price being difficult to obtain except for a few), whereas a fortnight ago similar mutton was selling readily at 2|d per lb. Large sheep are also easier, and in few cases can anything over 2|d per lb be made." Stocks of New Zealand lamb in store, while not heavy, are, so Messrs. Weddel write, sufficient to meet the requirements of the trade. The Tokomaru is still discharging, but owing to the numerous marks and consignees, progress is very slow indeed. Although the demand is not quite so brisk as it was a fortnight ago, it still continues good, and more has been disposed of during the past fortnight than for the corresponding period of last year. The undertone is good, and with the largest proportion of stocks in firm hands it is thought that there is little likelihood of prices giving way to any extent within the near future. Best Canterbury lambs have sold readily, aud for the best (Eclipse brand) 4&d to 4|d per lb has been made, although a fewer number have realised 4sd per lb. Good Canterbury?, other than Eclipse, have been making 4£d to 4£d per lb., at which prices considerable quantities have been sold. Dunedin and Southland lambs are in request at 4d to. 4£d per lb. Generally speaking, conclude Messrs. "Weddel, the quality of lambs received from New Zealand so far this season compares very favourably with former years. For New Zealand beef the trade is very slow, and, with consignments split up among various agents, all of whom seem anxious to realise, the outlook is not very promising. Messrs. Weddel and Co. quote New Zealand hindquarters at 2fd to 2|d per lb ; forequarters at 2d to 2£d per lb., The Colonial Consignment and Distribution Company tell me that there is little change in the market for New Zealand mutton. Trade has been dull, they say, and the absence of eagernets to push sales has alone prevented a fall in values. Stocks are not heavy, and the largest holders have been content with a rather restricted output, so that prices might b« maintained. Prime mutton is very scarce and in demand, and a fair amount would find buyers at higher prices than have been made for many months. Referring to New Zealand lambs, the same firm writes that "700,661 have now been received, or 124,356 more than came to baud at the same date last year. A fortnight ago prices hardened considerably, aud there was a fair promise of % satisfactory

finish to the season, but these expectations have not been realised, and prices have fallen id to id per lb, W ith several weak holders inclined lo forco sales. Prom 4|d to 4-* d per lb was obtainable ior a few days. Best Canterbury hunbs can now bo bought at 4»d per lb, and oilers to sell at 4ld per lb nre reported. Dunedin lambs have gono Crom 41(1 IH? r Hi to 4 ld per lb, and do not k>ll treely at t l, : ,t price. The sudden change irom the bright summer weather of last week to the almost wintry cold of this has told against demand, and consumption has been considerably restricted " Messrs. U. s. Fitter & Sous note to-day :— Ihe most remarkable feature iv the New Zealand mutton trade just now is tho great difference m pr i ce between Canterbury mutton and most other brands (South Downs exi-epted). The cause of this is the scarcity of the former. Buyers are gottiu^ tired of payiug the large difference in price, and many of them are giving up buying the Canterbury mutton, and they are the more inclined to do tins in consequence of the poor quality of many of the sheep lately to hand. The demand for New Zealand lamb is satisfactory. Large lambs are shorter and are making good prices ; many of them are being used for mutton."