NEW ZEALAND PRODUCE IN LONDON.

Otago Daily Times, Issue 11191, 13 August 1898, Page 6

NEW ZEALAND PRODUCE IN LONDON.

(Fbom Otis Own Correspondent.) LONDON, July 2. WOOL. The fourth series of colonial wool sales of the present year opened on Tuesday. The attendance of buyers, with the exception of American operators, who are still for the most part absent, was well up to the mark, and competition was both quick and general. I learn that New Zealand and Australian merino wool in the grease, as well as the finer grades of crossbred, ruled fully 5 per cent, dearer than at the close of the May series. Scoured merino, however, though well .cpmpeted for, hardly appreciated to the same ektfent. The coarser grades of crossbred, if in good condition,, maintained previous prices, but if shabby they occasionally brought lower rates. A leading broker,-oh being asked his opinion of the progress and'l prospects of the current sales, said:—"The general expectation as regards prices was fully .'realised at the opening of the fourth series 'of. p.ublic auctions. As was anticipated, the scarcity ipi -merinos is not- only a preponderating 'influence- in the market, but has aiso reached a-helping hand to the finer qualities of -crossbred. "..The lower grades of crossbred wool/ however,, occupy at present a somewhat precarious position, being in abundant supply, and _' being, , further, confronted with the incidence of the.\English clip. New Zealand and Australian, greasy merinos, with fche exception of superior wool, which shows but a slight improvement, rule ' 5 per cent, dearer than iv Alay, good to medium parcels having benefited most by the advance. Scoured wool has gained ground slightly since the opening, and now also stands at an advance of 5 per cent.-on last sales' -prices." He added: "The influence of the wide and keen demand for merinos is apparent in a more or less general rise of 5 per cent, in the rates paid for fine soft greasy crossbreds, and the recent move in mohair has. enabled coarser lustrous parcels to maintain May values. Medium qualities, however, barely hold their own, while coarse descriptions without lustre mark a decline of 5 per cent. ''As regards scoured and sliped, no relief is apparent- from the unsatisfactory market conditions which have now prevailed for some time past." NKW KEAT.-AND MEAT. Since the Ist of January the total number of carcases of mutton received from New Zealand have-been, so the C. 0/ and1 D. Conipany write to mc to-day, Sl4-,157, or 85,071 more than came to hand for the same period,last year. A steady trade, they, say, has been done, and despite the heavy May arrivals stocks are in quite manageable compass. " Prices, too, have 'improved 3lightly, for good-quality,mutton as it-is wanted, aiid from its scarcity/i'.cbmmands high rates. Really prime mutton is 'unobtainable, the best Canterburys offering find a ready sale at 3|d to 4d per Tb, and a considerable quantity would find buyers at these rates. Very little Southland or Dunedin muttdri has been seen on the market. Values-have,ranged from 2|d to3£d per lb. The concerted action of the two principal holders of North Island, mutton has prevented the slump that at one time seemed imminent, and though sales in consequence have been somewhat restricted, values have been fairly well mairitaitf{!'d;^s6lb': to 641b sheep have sold at 2?d per ib.-'lieavler at 2jd per lb, though for each sort less money by Jd to id has been accepted by some consignees.';. -~■•;'■ -y . .',.. ■ ,i Messrs H. S. .Fitter, aincfc Soils remark:...-".With regard to the Nev<v .Zealand miittbti. trade;'- the difference iv price between Canteibury mutton an.l the other brands is having the effect of weakening the .demand for the former, and strengthening, to a certain extent, the demand for the belter classes of other brands. Wellmaturecl medium-weight Canterbury sheep are still very scarce. Many of the North Island sheep aro too large to.meet a ready sale." For New Zealand laiiib the demand Continues strong although values are, Messrs W. Weddel tell me, a little easier than tliey were a fortnight agj. The arrivals for.the past two weeks amount to 113,000 carcases from New Zealand. The strength of .the, present demand is, remarks this firm, "a distinct contrast to the state of things ruling at? the corresponding period lust year, when the most disappointing feature of tlie trade was the slackness of demand. Stocks in store are well within compass, and if the present rato of consumption continues there seern3 little fear of stocks accumulating to any extent. Prime Canterbury lambs have been selling well at 4|d to did per lb ,t.he latter price being for 'Eclipse' lambs. Good Canterburys have been making from 4Jd to igd per lb, according to quality and size, 35-101b carcases being in more request than the 30-351b grade. Secondary descriptions have ruled firm, at previous quotations. Best weight- Dunedins (30-401b) have gone freely at an average of about 4|d per lb; 30lb lambs and under may be quoted at 4d per lb." Messrs Fitter say, too, that tke demand for New Zealand lamb continues good, and that the prospects for the near future are favourable, "for, although tbe arrivals are likely to be fairly heavy, stocks in London are well in hand. Of course, after this month, the demand may bo expected to slacken, but if it keeps well up through this month, it will greatly assist the finish of the lamb trade this season." And the C.C. ancl D. Co., referring to New Zealand lambs, say: "An extensive trade has been dono ahd large numbers moved, and as discharge of vessels was protracted, those consignees who usually force sales were often short and it was possible to raise prices for best Canterbury lambs to 4*d and 4gd per lb, and for Dunedin lambs tp 4Jd to 4Jd per lb. . There has since been some' retrogression, biit- 4jd to 4gd per lb is now tho ruling price for Canterburys, and about 4Jd per lb ifor "Dunedins." ' Now Zealand' frozen,' beef has been selling badly. Fore-quarter's have been making no more than 2d to 2Jd per lb, and hind-quarters 2gd to 2|d per lb, so say Messrs Weddel. MISCELLANEOUS. . New Zealand cheese is undoubtedly increasing in popularity; the C.C. and D. Co. tell me for.ic thore has certainly been .a better inquiry in many districts. Tlie cheese imports for May show a falling off, in comparison with 1897, of 12,000cwt. "The increase from the United States is about balanced by the decreased quantity from Canada, but New Zealand has sent about, 10,000owt less.JJ. Only small sales of New Zealand oats have been made, and these at slightly lower rates; the demand for it isplow. There is practicallj no inquiry for New Zealand beans, but tht market is steady at recent, prices. Messrs Weddel report' a steady market foi flax, but no New Zealand descriptions have been offered at auction. Fine. Auckland is quoted at-£29 to £30;. fair Wellington at £29; good Lyttelton, none; common, £28 ; ■ and tow, £8 to £9 per ton. ~ •,*-.■„•'.... .-' . ". , ' At the close the riiarket; for' preserved beel and mutton was quieter, but a fair amount ol business has boen passing in both descriptions Prices are well maintained. • AVith- reference to tallow, Messrs Weddel remark:—" The abnormal position of the tallow market referred to iti onr last issue has continued, and the situation was so unsatisfactovj ih.it no public sales-, were held last week. Af the auctions on the" 29th ult. the demand was ngain . restricted, ahd oniy 331 casks found buyers out of 1515 casks offered, at a general decline.of ls 6d ; to 2s per cwt on the nominal .quotations, which woro based on the rates established on the 2'sth of May. This adverse positipn in colonial tallow is largely due tc oheap.offers from-America of inferior qualities in which .considerable business has been done both for the United Kingdom and Mediterranean ports'; and also a plentiful supply oi home-melt, which is to-day quoted at, aboui 19s per cwt. Stocks of New Zealand and Australian tallow in London aro now within reasonable compass, so that we look for a rally as soon as there is a falling off in the supply o: home-melt." Quotations are only nominal. Supplies of rabbitskins were, so the same firm tell mc, very scarce at the last public auctions,1 only 468 bales of Nov; Zealand anc Australian being available, as against 847 ai the same time .last year. Tho demand, whicl was chiefly .from the Home trade, proved verj active, and this small quantity was readily dis posed of, several orders remaining uncompleted Now Zealand skins were in insignificant supply Skins of fair to good quality realised extreme Consumptives or persons suffering from weal . ancl delicate chests should not fail to trj Townend's celebrated Cinnamon. Oure. Sole everywhere; price 2s 6d. Write for circula. to W. P. Townend, chemist, Christchurch.Advt.

1 price 3, while stale and oS-season brought relatively high values. Well-furred eilver grey and blacks of dressers' selection sold at recent enhanced quotations. Fawn of good season are appreciated. The quotations lot New Zealand rabbitskins stand a3 follow G-ood to prime, , thin and etout-pelted. Is 7Jd to Is 8d per ib; i fair ordinary to gcod. !s3jd to ls SJd per lb; | common and low,,SJd to Is 2jd per lb; small ] and suckers, 4d to lOd per ib, black and silver grey (furriers). Is, 2|d to 2s ljd per lb; fawn, Sd to ls Ojfd p: er 'Tb. The 473 bales offered were, s.\y Messr.s Weddel,, " cleared at an advance of j I 15 to 20 per cent.