NEW ZEALAND PRODUCE IN LONDON.

New Zealand Herald, Volume XXXIV, Issue 10426, 26 April 1897, Page 6

NEW ZEALAND PRODUCE IN LONDON.

[from oor special correspondent.] London, March 20, WOOL. With reference to the opening of the current wool sales an eminent "expert" writes to me as follows :— Although American competition has become somewhat more discriminating than was the case earlier in the year, it became quickly evident that after the opening of the current series of sales that Transatlantic demand'had gained in relative importance since the close of the January-February auctions. This is due to the comparative want of activity on the part of French, English, and German operators, who, though well represented, have so far failed to contribute very effectively to the support of the market— a faot which is hardly to be wondered at in the face of indifferent trade and the present troubled phase of Eastern politics."

New Zealand and Australian wool is coming forward earlier in the season this year than was the case last year, and it is thought that this cannot fail to affect the ratio between supply and demand in the autumn unless, as was the case in 1896, considerable quantities are carried forward from series to series.

On enquiry among the principal London authorities on the wool trade I learn with reference to the current wool sales that the course of events during the past week has tended to heighten the contrast between the respective prices for the class of wool which suits America and for that outside the scope of Transatlantic demand. Owing to the growing improbability of any protective measure coming into force in the United States before the Ist of May at the earliest competition from that quarter has distinctly improved. During the past few days French buyers have displayed rather more activity, but English, and especially German, operators continue reluctant to do more at the existing scale of prices than to satisfy their pressing needs. Superior greasy merino wool firmly maintains the strong position it occupied in February, but deep-stapled wool in grease, when light in condition and free from fault, is now $d per lb dearer than at the close of the first series. Other descriptions of unwashed, however, though somewhat firmer than at the close of last week, still fall short of February rates. Merino lambswool is in good demand at last sales' quotations. Scoured wools remain practically unaffected by the American demand, and in consequence show but little alteration from opening prices. Light-conditioned, well-bred crossbred wools of all qualities meet with a free sale at rates of last sales, or up to Jd per lb dearer. Shabby, wasting wool, however, shows no improvement, and is occasionally \i per lb cheaper than it was last month.

NEW ZEALAND MEAT. In a memorandum received to-day from Messrs. H. S. Fitter and Sons I find the following very serious statement:—" The supply of Home-killod mutton is very short, and prices continue high. This fact ought to influence to a large extent the frozen meat trade; but, unfortunately, the quality of the New Zealand mutton has so deteriorated that whatever prices the butchers have to pay, they must have Homo-killed mutton." This is a very grave assertion coming from such eminent authorities. They go on to say : " There are still a lot of stale sheep on offer at low prices, and until these are cleared off there is not much chance of any material advance in prices. There are also a great number of thin, weedy sheep on the market. Those, when thawed, look simply wretched, and cause great dissatisfaction to the consumer. When the market again assumes a healthy appearance there should be no difficulty in obtaining better prices, as medium Homekilled mutton is very dear." I trust that these remarks will receive careful attention in the colony. The demand for Now Zealand lamb is good, and the high prices of Scotch sheep will no doubt help this trade, but the three steamers, Otarama, Duke of Westminster, And Pakeha, discharging simultaneously, have for the moment rathor pressed tho market.

DAIRY PRODUCE. Messrs. Dempster, Peterson and Co., of Glasgow, wrote to me as follows under yesterday's date:—Since last week our markets in Scotland and England for colonial butter have, we regret to state, shown no improvement. The tone generally has been quiet, with a slow and dragging sale and the tendency to easier prices. Within the past few days, however, there has been a better inquiry for brands of choicest quality, but the consumption demand has not boon sufficient to warrant any advance in price even for these. Danish butter is at present being retailed at Is per lb, and the public, prejudiced in its favour, naturally give ib the preference. The low prices recently accepted for some brands of really good serviceable butter, though not of choicest quality, which were accumulating in agents' hands, have also 1 had a depressing influence on the salo of best brands, and prices for these have in consequence been dragged down. Secondary qualities are now pretty well gone into consumption, and there should continue a better onquiry for choicest. With the advent of the Irish butter season, and the fact that in some of our country districts the farmers are now freely offering their fresh butter, we do not anticipate any material advance in prices. The Danish official quotation remained unchanged in the end of last week, and stands at 92s to 10fi8 f.o.b. according to quality." The C.C. and D. Co. Bay : " New Zealand cheese is in good demand, and on the whole shows an improvement in quality, but during the present experienced brisk demand, buyers are not so particular as to the quality and many faults pass unnoticed." MISCELLANEOUS. With regard to canned meats in Glasgow, Messrs. Dempster, Peterson and Co. say that owing to the limited supplies from America, and a better demand, prices are a shade higher. There is an increased enquiry for sheeps' tongues, and holders have been able to make an advance of 3d per dozen. Tinned rabbits are also enquired for in Glasgow. The London market still continues bare of Now Zealand wheat. For New Zealand oats the demand remains slow at unchanged rates. New Zealand beans are dull, with easier prices, and are quoted at Sis to 32s fjdperaOilbs. New Zealand flax is in dull demand. At the sales held last Wednesday, 100 bales of fair Wellington were offered, but were withdrawn at £14. Quotations are merely nominal Preserved meat continues inactive and business is quieter than ever. Nominal quotations are unchanged. For preserved mutton the demand is fairly good with slightly firmer prices, supplies being rather short. For rabbits lower prices are expected. There is no material change in the tallow market. Trade has been quiet but steady and prices are unchanged. Hides are inclined to be dull, and Messrs. Weddel tell me that the export demand is likely to fall off owing to the restrictions adopted by certain Continental countries. But they do not anticipate anything worse than a slight decline in prices. At last week's rabbit sales there was little demand, and prices for New Zealand rabbit skins remained ununchanged.