NEW ZEALAND PRODUCE IN LONDON.

Otago Daily Times, Issue 13586, 7 May 1906, Page 4

NEW ZEALAND PRODUCE IN LONDON.

(FiOVt Ora OVOt CORRESPONDENT.) •LONDON, March 23. WOOL. Writing to me in time for the outgoing mail, Messrs Clmrles Balme and Co. remark that under keen competition from all quarters prices (or both merino and crossbred wools have hardened since the outset of the current ■ auctions. The Home • trade is the chief operator, but German and French buyers are well to the fore; while considerable quantities of medium aid fine crossbreds, as we'l as a few of the best merinos in the grease, have been secured on, American account. Prices for merinos now rule from 5 to 10 per cent, above last sales' closing level, the greatest measure of improvement being apparent among medium and faulty descriptions, both scoured and greasy. Values for crossbred wools have risen 2k to 5 per cent, since the opening, fine and medium grades realising 10 per cent, and coarse qualities 12J per cent, •more than in January. The stronger tone of the market:is fully reflected in the pricea paid for South African wools, which sell in average' 75 per cent, above the rates current 'ast series. . wooulp. sheepskins. The second series of public sales of woolled sheepskins took place yesterday, when 3952 bales were offered,; including 639 bales from New Zealand. I am, ihforaied bj Messre Charles Balrne and' Co. that-there was a large attendance of buyers, who' operated with freedom, the catalogues boiiig practically cleared. Prices for fn'l-woolled merinos advanced % per cent., and fine arid . coarse croesbreds 10 per cent. IJalf-woolled crossbred were also 5 per cent, dearer, but the rates paid for shortffoolled merinos and pelts, although fully Up to previous values, showed but little alteration. As compared with the pricea current at the sales held on .the Sth February, Messrs Balmc quot;: Merino, full to three-quarter-woollod, |d per lb higher; merino, half-woolled, Jd per lb higher;, merino short and shorn, par; crossbred, fine, full to thrce-quarter-woolled, Id per lb higher; crossbred, medium, and coarse, full to threc ; quart«r-woolled, 2d per lb higher; crossbrcd, half-woolled, Jd per lb higher; orossbred short and shorn Jd per lb higher; lambs Jd per lb higher. Present quotations per ib for Now Zealand woolled skins are:—Merino, full-woolled, SJd to lljd, merino half to threc-quarter-woolled, 7Jd to .sjd; merino short and shorn 6d to&id; crossbred full'ivoolled, fine, IOJd to Is OJd; crossbred fuli-woolled, coarse, 9Jd to lljd, cross-

bred half to three-quarter-woolled, fine, BJd to lid; crotsbred short and short, GJd to 83d. ' The following arc the dates fixed for tho other series of wooded sheepskin sales during the current year: Hay 3, June 21, August 2, September 20, Novoinbcr 1, December 20; while the first salo of - .~ext year will be held on tho 7tli February. DAUY PRODUCE. According to the report which I have just received from Messis W. Weddel and Co., the n:;\rket [or Australian butter this week has beon daily growing weakor, and at the close this weakness lias affected the New Zealand market. The cause of this decline in value is duo mainly to two causes—the large proportion of Australian that is of an inferior quality and the over-supply of buttor generally; but principally in Australian, American, and Russian compared with last year. For the first three weeks of March, 1905, the total imports of all kinds of buttor were 216,989cwt. Hie Australian imports for the same three weeks in 1605 wero 29,514cwt against 67,844cwt this year. " Choicest" N.Z. butter is quotod at 104s to IOGs, and 1 " finest" at 100s to 102s. 'Die demand for Canadian and New Zealand ohees* continues firm at last week's prices. TALLOW. Messrs W. Wcdde! and Co. note that there has been an active demand for Australasian talio?,* during the past fortnight, and values* on tho low and medium qualities have advanced fully Is per cwt, while the -better sorts aro Gd per cwt dearer. Fine mutton tallow can be now be bought at 30s, and at thie figure buyers are intacstod. The titles from Australia continue to come very low, no doubt, caused by the lamb fat, and, in consequence, *ny tallow of good tike sells to advantage. There appears to be a decided clement of speculation in the market, and there are some operators'in evidenco who have been absent for some time past, and of course this tends to force ci.f. values up, but there is little doubt that many parcels will have to be resold on arrival, when probably lower prices may have to be accepted. On o.i.f. terms considerable business lias come about in mixed at 20b 9d to 27s Gd, according to titre, and in ordinary mutton at 28s 6d. Sellers are nowasking more money, but at present without success. KZW ZEALAND MEAT. During lie pait fortnight receipts of New Zealand mutton have been only 25,000 carcases. Messrs Weddel report that this departs ment of the meat market is still very much under supplied, and in the case of South Island sheep the shortage is so pronounced that present prices are normal. Canterbury sheep, under Glib, are quitted ali 41d to 4Jd per lb. and heavier weights at 4d to 4}d pet lb. Tho North Island sheep now ; being marketed are of good quality and condition, and they aro in fair demand at 4Jd to 4Jd for small carcases, and about 4d for heavyweiglitn. New Zealand ewes are realising only about 3d to 3|d per lb. The demand for lambs is undoubtedly expanding in London and throughout the country, but stocks' ol Australian lambs are still heavy, and the average of prices is unchanged. Large lambs of good quality aro most inquired for, as i result of tho short supply of small New Zealand sheep, aid these are quoted a shade higher tjian they were. On the other hand, no change has taken place in the prices of the large quantities of ordinary and inferior . quality lambs available, the aim of most consignees of theße descriptions being more in the direction'of getting them into consump- . tion. than of raising prices. With regard to New Zealand lambs, Messrs Weddel say that those from Canterbury have been in rather short supply, and consequently those available have met with a good inquiry. Supplies will, liowever, ba replenished l)y tho s.s. Mntatna, ■whioh is now discharging. North Island lamba of best quality ]iave derived some benefit from the Bc«,rcity of Canterbury brands during the past few days, and values are firm at tho close. An unusually large proportion ,of inferior is being offered, however, for ,which' description there are only very limited outlets, and low prices are accepted. Canterbury lambs are quoted at 5Jd to 5M per lb, and best North IsTand at 4jd to s|d; inferior lambs are put at 4Jd to 4Jd per lb. Tho few old season's lambs still available are difficult to sell even'at 3Jd to 4d per lb. Some of the River Plate lambs reoently received have been of unusually good quality, -and realise up to 4-d per lb. The general quotation is about 83d to 3Jd per lb. • ,