NEW ZEALAND PRODUCE IN, LONDON.

New Zealand Herald, Volume XXXIX, Issue 11954, 1 May 1902, Page 3

NEW ZEALAND PRODUCE IN, LONDON.

[f'EOM orr. owx cor.r.Es?o.vn£NT.] LONDON. March -IS. WOO'.. FROM Messrs. Charles r,.;,-. an d Co. I hear tkis morning that tjm won , series or colonial/ sale** of wool for Ute'vccrt ant year, which opened on the 13th ins:., closed yesterday.! The total available quantity for tho series was about 162,000 bales, including new arrivals and old stock; the total quantity on, offer at the seco.au series of 1901 was about, 1 218.000 mile:?. Of the quantity available this' time. Messrs. Ualme tell me that 166,029 balca' (including 50,631 from .New Zealand; were catalogued, and that about 11.500 bales (including j6jo from New Zealand) were .hold over. Ot\ tie quantity sold, approximately 73,000 hales; have been "taken for export, including souioi 4000 bales purchased for shipment to America. I Referring to tiae second series of sales for the year just, closed, tlie New Zealand Loan-; and Mercantile Agency Company's report, says:— The attendance of Home .'.rid colonial buyers has throughout been good, white there has also been some American inqvtiry both for merino and crossbred of suitable* qualities. Competition las been general and brisk, particularly for the finest Qualities ofj merino and all description? of crossbred.! values for the former improving with the progress of tho sales, and closing at an advance of 5 :■) 10 per cent.. a:» compared -with: January series closing rates, other qualities being par to 5 per cent, dearer. In crossbred, line New Zealand greasy may bo quoted Jd per lb higher, while good merino qualities, for which United States bidding) was enlisted, marked an advance of Id and sometimes more. The coarser grades showers some irregularity according to condition, but, on average rule id to \d dearer. Scounxlu have moved iii sympathy with greasy, but. sltpes have not participated to the same extent in the improvement, for while medium, and coarse qualities advanced about id pep; lb. fine sorts show practically no change.; Merino lambs have met with a good demand' at- id to Id advance, crossbred realising about id per lb more money." WW ZEALAND MEAT. I hear from the New Zealand Loan and Mercantile Company that, a slight improvement in the demand for all descriptions of. frozen mutton lias been experienced, but, values, though firm, are not quotably higher.. Prime light Canterbury sheep are scarce, and the inquiry lor other brands of light-weights has in consequence improved. No appreciable improvement has taken place In the lamb market, although to bte expected at this, period of the year both for lamb from Now Zealand and Australia. Prime Canterbury is to-day worth from os 7d to 3-s 9d, North Island 3s 2d" to 3s 5d per stone. A fairly, good trade has been passing in beef, especially' lor fore-quarters, which show a hardening;! tendency. Supplies of New Zealand beef on' spot, are light, and therefore parcels in store command relatively lush rates; prime New, Zealand -quarters tire worth from 2s 94! to 2s lOd. and fore-quarters 2s Id to 2s 3d per stone, ex market. DAIRY PRODUCE. In consequence of the near approach of the Faster holidays there has been a slowness of demand for butter during the week, but after Easter more business is looked for. Messrs.; Weddel tell me to-day that there is a further fall of 2s per cwt. to bo recorded in New' Zealand butter, of which the " choicest" is : now standing at 106s to 108b per cwt., the : hulk of the sales beintr at the former price;. " finest" make.,. 102 ato 104*. A further ih'us-' Iri>.t,on of the peculiar position of the colon tali butter market, is shown by this continued fall,' in values, while Danish is rising weekly. Three weeks ago the Danish and New Zealand' butter were alike in price: the one hind is rising week by week, the other kind is falling., Messrs. Weddel add that the Papanui arrived late yesterday with about 30,000 boxes of Newt Zealand butter, but she wilt not begin discharging until next week after the holidays. For .New Zealand cheese there is a good op-' mand. " Choicest" brands, first Government grade, bring Ms, and " Ilnest" brands, second Government grade, are quoted at 50s to 52s;' " choicest" quality Canadian cheese is quoted at 55s to "6s per cwt. It, is stated in the report, of the New Zealand Loan and Mercantile Agency Company? that during the past three weeks the inquiry for fine and finest descriptions of New Zealand butter has ruled low. while values rue. easier to the extent of ram 2s to 3s per cwt.-; as compared with last, quotations. Inferior. and secondary sorts, however, have been itr. good request, but prices, in sympathy withi the lower quotations ruling for finest, being? rather easier. Finest, is quoted at 105s to', 108s, good to fine at 100» to 104s. and inferior' at 945, to Ms per cwt. The improvement in! the inquiry for New Zealand cheese has been.'! well maintained, and with stocks in moderate supplies holders hare been able further to advance values. Quotations are 503 to' Ms per cwt. MISCELLANEOUS. From the New Zealand Loan and Mercantile Agency Co. I hear that a dull feeling has characterised the wheat market throughout the last three weeks, the large quantities both of flour and wheat afloat checking speculative business, and 'prices generally are 6d per quarter lower. In. New Zealand wheat on the spot business, has been restricted, but with small stocks lute rates havo been maintained. I here is very little inquiry for oats, and the tendency la toward easier prices. > The small supplies of .New Zealand oats available "here, are firmly held, and sales are of a. hand-to-mouth nature. Latest prices are:—Now Zealand longberried wheat. 29s 6d to Jos bd; shortx*re(f', 39s to 29s 6d per 4961b; barley, 25a to 27s Od per v?eil); oats, fine, 26s to 27s 6d per 3841b; common. 21s to 22s per 3201b; and' beaux, 3js 6d to 3os 3d per 5041b. The market for Now Zealand flax has displayed much irregularity, the New Zealand' Loan and Mercantile Agency Co. report, and although some brief intervals of slight improvement have been manifest, the general tendency, owing chiefly to the continued heavy receipts of Manila, .las been toward a lower level of values. At the close a dull lone exists, and prices are fully 3Cs lower for. spot, and near positions, while for distant and] future shipments there is practically no inquiry, and to effect sales a reduction of £3 to &5 10s on quotations of three weeks aj'tf would have to be submitted to. On the shod about.6o tons have been sold at £37 10s down,' to £36 15s, and for arrival the sales amount to about 600 tons. January-March being: quoted nominally at £35. March-May at £33, April-June, at £32 10s per ton. As for (allow, the same report states that the market has been very dull. There have been three nubile sales, each small, while the business done has been only of a hand-to-month description, without quotable change in values. Tallow of all kinds is still veryscarce, but. speculators who have bought freely to arrive are now pressing their purchases on the market, and this fact, coupled with poor soap trade, is mainly responsible tor the depression. At the same time there seems no good reason to anticipate any serious lull m values, and. indeed, .prices mar not unlikely improve in tho autumn. To arrive, little has been done of late except in) second-hand parcels, and quotations are unaltered. On the spot good to tinest mutton tallow is quoted at 36s to 325. fair 32s to 33*. and fair to good beef, at 31s to 32s 6d per cwt; edible, at 33s to 34s per cwt.