NEW ZEALAND PRODUCE IN LONDON.

Otago Daily Times, Issue 11484, 25 July 1899, Page 3

NEW ZEALAND PRODUCE IN LONDON.

(From Our Own Correspondent.) LONDON, June 16. ■wool. During the past fortnight, I learn, trade reports, both from the Continent and from Yorkshire, have continued to be favourable. Indeed, so far as Yorkshire is concorned, Messrs Ealme say it would appear that the recent rise in the value of fine wool has been followed by a more or less corresponding/advance in the status of thu manufactured article, a point which, it is stated, will give consumers increased confidence operating at present prices. The coarser grades of crossbred wool do not show any improvement, the outlook being somewhat overclouded by the large supplies of this class shortly coming on the market, in addition to the weight of existing stocks. In considering prospects, however, Messrs Balme conclude, the sympathetic effect of a hardening market for fine wool, coupled with great general commercial prosperity, should not be overlooked.

From the National Mortgage and Agency Company of New Zealand I learn that the arrivals of wool for the fourth series of the year, to open on the 27th iiist., was closed on the 2nd. The net available quantity is about 233,000 bales, of which about 114,000 are from New Zealand. NEW ZEALAND MEAT. ,

There is not much alteration in the aspect of the New Zealand mutton trade, Messrs Fitter tell me. There lias been a fairly good demand for really prime mutton, and as this is decidedly short, priee3 are fir:n.. The low prices at which parlinlly damaged Australian mutton is still being offered, has a tendency to weaken the demand for North Island and secondary meat.from your colony. Mersrs Fitter's prices for New Zealand mutton today are as follow.:—Canterbury sheep, 4d to %1 per lb; Wellington, 3^l to 3Jd per lb. Stocks of New Zealand- lamb are light, the demand is good and Messrs Fitter are of opinion that there are prospect!) of prices remaining firm for some time to come. Their quotations this week are: —Canterbury lambs, sid to 6d per lb; Southdown lambs, s^cl to 53d per lb; and Wellington, 5d to s£d per lb. The frozen beef trade is reported, by the same eminent firm of meat salesmen to have been very stagnant, but is slightly better now.

During the past fortnight some 97,500 carcases of mutton, chiefly from the North Island, have arrived. Canterbury sheep; Messrs Weddel note, are still in short supply, and the market for this class continues fairly firm. Small weight sheep are particularly scarce. ■ Supplies of North Island sheep are plentiful, and, being freely offered, values are weak at about 3£d per lb.

Arrivals of lambs from New Zealand are reported by this firm to have been heavy, amounting to 115,000 carcases. The deir.snd for lamb continues strong, and arrivals go readily into consumption, so that stocks in store are moderate. Holders are iinn, and the position has been strengthened by the breakdown of the Mamari, .vhieh ivill muse a delay of a month, probably, in her ctiiral here. Best Canterbury lamb.? are quoted at s^d, with an occasional 6d per }b. The quality of the North Island lambs now marketed is said to be" rather 'irregular., New Zealand beef shows a sharp drop in pc'.w, 2-Jd per lb for fores, and 3d per lb for h.'.id quarters being the present prices. In frozen rabbits the demand is extremely dull, and although prices are low, the demand continues very limited,, and only, more or less damaged goods can find a market, so I learn from Messrs Woddel. These, naturally, are selling at very low figures. The Fifeshire 'has arrived with 3005 crates, from New Zealand. So far, this year, the arrivals of rabbits from New Zealand have totalled C 603 crates as against 6166 last year.: Australia .has sent 40,73S crates this year while the number for a corresponding period of last year was 34-,575 crates. The National Mortgage Company say that New Zealand rabbits are now worth more than 7^d each, but that holders are keeping back their shipments.until the damaged Australians are cleared.

From the report this week of the 0. C. and D. Company I learn that since January 1 754-,732 carcases of New Zealand mutton have arrived, this representing an excess over last year of 45,528 carcases. The Fifeshire has arrived with 26,000 New Zealand-sheep. Trade continues much as it has done for some time as regards demand, which has been steady, and a fair number of' Carcases have gone into consumption—sufficient to prevent any accumulation of stocks.- Values show a change, as sales of best Canterbury sheep have been made at rather more money—namely, at 4^d and a fraction higher per lb, while other qualities have ranged from 4-d to 4^cl per lb. North Island sheep are weaker. Heavy, sheep and ewe 3 are feelftig the competition of River Plate mutton. ''

In New Zealand lambthe 0. C, and D. Company agree with the other authorities already quoted in saying that a good trade has been done, with a brisk demand,, and that deliveries have been good, with a general hardening of values. The best Canterbury lambs, of nice size and good quality, have made s?d .per lb. Sellers of the lamb are quite satisfied with the prices they are making, and the C. C. and D. Company say there seem 3to be no inclination to try for more money. The.fire on the Banffshire destroyed 9026 carcases of mutton and lamb and 3 quarters of beef.

English wheat is still plentiful, and the tone throughout the country i* firm; on some of the exchanges higher rate 3 have been paid. The average price of 25s 6d per Imperial quarter marks an advance of fa\ per quarter on tho previous fortnight, but still it is 19p lOd per quarter lower than at the same time last year. For New Zealand wheat, Messrs Weddel say that there, was a little; more inquiry last week, and that a few parcels were moved at rather easier rates. In New Zealand oats trade is said to remain quiet at about recent prices. There are no supplies of New Zealand beaus on the market, and quotations are consequently nominal. The National Mortgage and Agency Company report cocksfoot as firm, but there is little business doing. Both these firms tell me to-day that the tallow market has been decidedly- quieter during the past fortnight, and say that-little actual business was effected at the two auctions lately held, only 1185 casks finding buyers out of 3382 offered. Owine to the firmness of holders, values are unchanged, although buyers have been making one of their periodical efforts to get prices down. Messrs Weddel are of opinion that-these efforts will prove fruitless in face of the strong position in which the holders find thomselyes. Very little business is reported on c.i.f. -terms. Shippers' ideas of values for present or forward shipments are said to be still above those of the buyers. Some parcels in the River have fetched 25s 6d for mutton and 24s .for beef on e.i.f. terms.