IN.Z. PRODUCE IN LONDON. [FROM OUR SPECIAL CORRESPONDENT.]

Evening Post, Volume LVI, Issue 155, 29 December 1898, Page 5

IN.Z. PRODUCE IN LONDON. [FROM OU R SPECIAL CORRESPONDENT.]

London, 19th November. WOOL. It is pleasing to learn that the improvement in the tone of the woollen market which was lately noticeable has continued, and, indeed, somewhat developed, so far as merino wool and the finer grades of crossbred are concerned. My informants, however, say that there has been no expansion in actual business, which is still very much restricted. The London market has been exceedingly quiet. From the latest reports, I notice that the gross arrivals for the coming auctions now amount to 96,351 bales, of which 77,948 are classed as "Australasian." Of the total quantity, about 5500 bales of New Zealand and Australian wool have been forwarded to manufacturing districts. As arranged, the list will be closed at 4 p.m. on the 21st inst. NEW ZEALAND MEAT. For New Zealand mutton trade has been very slow, demand limited, and the output considerably below the average •* fortunately, stocks are light ; until the Indraghiri and Rakaia arrived they were at a very low ebb. Messrs. Weddel report : — " No improvement can be reported in the market. Trade in Canterbury mutton has been dull and disappointing, and values are oarely maintained. Best weights (481b to 641b) are at the moment being less enquired for than the heavier weights, and consequently there is very little difference in rates current for these two descriptions, the heavy sheep showing more quality than those of lighter weight. . . Secondary New Zealand sheep continue in moderate supply, and, as the quality of those now on the market is excellent, and compares . favourably with many Canterburys at present on offer, values remain very firm. Best weight Southlands and Dunedins are making 3|d per lb, and heavy carcases may be quoted at 3^d per lb. North Island sheep have also been selling well, the lightness ot stocks and general good quality of these enabling holders to keep prices steady at 3^d to 3gd for best weights, and at 3£d for heavies." In the opinion of Messrs. H. S. Fitter and Sons, tne weather has depressed the frozen mutton trade very considerably. Without much apparent demand, the C. C. and D. Co. say that a fair number of New Zealand lambs are sold every week,and so long as they keep fairly bright and fresh it is thought that sales will probably continue until the stocks are exhausted, and Australia's new season's lambs come to hand ; the weather also has been favourable and has stimulated demand. Prices have kept Up for "sizeable meat, 341b to 381b, at about 5d to s^d per lb ; heavier, 401b and upward, at 4^d to 4£d per lb, and a few 481b have made 3|d. During the fortnight, Messrs. Weddel say, 3700 carcases of New Zealand lamb have arrived. "There has been a little more enquiry lately, and, as stocks are moderate, rather better prices have been obtainable. Best Canterbury are selling at 5d per lb, and secondaries at 4£d per lb. The Australian lambs now being marketed are of very mixed quality." DAIRY PRODUCE. No New Zealand butter has yet come to hand, but butter from Australia is arriving in fairly large quantities, and the C.C. and D. Company tell me that " though the first one or two shipments met with a fai* demand, buyers are now chary in taking on the butter at the opening price"." During the past fortnight the weather hap been decidedly against butter, but there is a prospect of prices holding up to a reasonable figure of 98s to 102s for finest grades for some little time. Messrs. Dempster, Peterson, and Co., of Glasgow, write this week that they anticipate a good* demand for the first shipment of NeAv Zealand butter, which is being brought by the Gothic. i MISCELLANEOUS. As English oats are being offered cheap, it is difficult, Messrs. Weddel v report, to make progress with New Zealand oats. Bluff oats are being offered* but they are very dull in colour. Fine heavy samples are quoted at 28s to 30s ; fair ordinary, 26s to 27s per 3841b. There are no New Zealand beans on the market. No New Zealand flax has been offered at the auctions, but the market is firm. Superior current Manila sold at £30, and 150 bales at £31 lo £32 ss. For shipment, I learn from Messrs. Weddel that the market is flat. New Zealand good fair flax, near at hand, has been sold at £21 10s o.i.f. terms, but distant arrivals are neglected. Quotations are nominal. Prices for all brands of preserved beef and mutton are firm, and there is a fairly good demand for both kinds of meat. Some tallow has been sold privately at firm to slightly advanced rates, and during the past fortnight a steady market has prevailed, while a fair amount of business has' also been transacted at public sales. Salted hides are still quiet, and the recent public sales resulted in a decline, I am informed, of -Jd pev.lb all round fov salted ox and 1 cow. The long-expected movement in English leather has not come about, and, as hides ate comparatively dear, the tendency of the market for the latter of all descriptions and in all centres is to easier rates. At the last auctions the demand fov rabbit skins was good, and the catalogues which contained only 925 bales, were practically cleared. Messrs. Weddel say that there was, however, a re-action against the high prices paid at the two preceding series of public sales, and on the whole there was a decline of Id to 2d per lb as compared with the September sales, best New Zealand sorts showing the least reduction. The following are the quotations for New Zealand descriptions : — Good winter skins, 2s to 2s 2£d per lb; summer and low skins, Is 6d to Is lid ; inferior and suckers, 7£d to la 5d per lb. In my last letter I referred to the seed and manure tests that Mr. -Thomas Mackenzie had gone in for. In his circular report to the Associations he represents, he deals very fully with this matter, which is of such importance to agriculturists that I take the opportunity of supplementing what I sent a. week ago. Mr. Mackenzie says : " The fact remains that highpriced manures have had to fight against others of much lower grade. » Constantly I am reminded by our New Zealand friend 3of the difficulty they experience in getting a slightly better price foMi vastly better manure. Quantities of superphosphates are sent to New Zealand, guaranteed 35 per cent, of phosphates, while inferior sorts containing only 26 per cent, are also shipped. Tt is well that farmers should know that every unit above 35 per cent, 'increases largely the cost, but the higher the quality the less waste substance is contained in the manure, while the cost oi labour, bagging, shipping, and ot.hev charges is no higher fov the best than for the inferior. The soundest economy is reached with the bigher-p-iced quality and the nearer 39 per cent, of soluble phosphates the farmer reaches the better is his produce. A ton of 39 pev cent, of phosphates contains 10s worth of raw material above the 35 per cent, guarantee. Superphosphate, instead of being sold by the ton weight, should really be sold by the unit of soluble phosphates, the method followed on the Continent. It may be well to mention for the guidance of farmers that superphosphates are now being sold containing a guaranteed percentage of phosphates, soluble and available. Farmers should only buy phosphates soluble in water; the "available" phosphates in ordinary agricultural operations will not dissolve, and therefore remain unused. AN IMPORTANT CONVERSION. I gather that a North of England firm, whose headquarters are in Manchester, who have well over two dozen shops, and

who for some years past have been doing a very large trade in Argentine meat, have opened negotiations with Mr. Thomas Mackenzie, with a view to selling nothing bul. the best New Zealand meat. They have gone thoroughly into the question of the advantages likely to accrue from keeping the superior article, and Mr. Mackenzie has shown them round several of the best shops in London, where nothing but the primest Canterbury product is kept ; the proprietors of these were not slow to say that they had no regret through having determined to stick to the best New Zealand meat, and have no other.