NEW ZEALAND PRODUCE IN LONDON.

Otago Daily Times, Issue 13637, 5 July 1906, Page 10

NEW ZEALAND PRODUCE IN LONDON.

(Frou Ou« Own Cokresposmnt.) LONDON, May 25. WOOL. On the 23rd inst. the third series of wool sales for the current year, which opened on the Bth inst., were brought to a close. Messrs Charles Balmo and Co. tell me that the available quantities for the series were approximately 165,000 bales, New Zealand coming first on the list with 92,000 bales; New South Wales taking second placo with 24,500 bales. In all, some 104,911 bales were catalogued (92,804 being from New Zealand), and about 9000 bales were held over (including •2200 from New Zealand). At the same series a year ago 155,593 bales were catalogued, and about 10,000 bales were held over. Of the quantity sold on the recent occasion about 60,000 bales; were taken for export, including some 9000 bales purchased for shipment to America. Messrs Balmo and Co. write: "With a continuanco of the increased consumption which.was noticeable earlier in the year, tho tendency of values for all classes of wool in the manufacturing districts; both in England and on the Continent, lias ruled in sellers' favour since tho ciose of the ll«.reh auctions. The market has been particularly sjrong in the English centres, where supplies of the raw material, both fine and coarse, are exceptionally light (or this period of the season. Competition throughout the ECiics.. which has been attended by a very" large number of buyers, has been active,on the part of the European section of the trade. American representatives, however, who operated among the medium and finer growths of crossbred in March, have been somewhat mere- cautious in their purchases. The quantities catalogued have included an unusual number of shipments, both of merinos and crossbreds. acquired in the colonies by speculators, which, in the present favourable "state of tho market, havo realised very handsome profits. Merinos have sold at an advance of about u per cent., (he improvement being most apparent among combing descriptions, particularly when in scoured condition. Fine crossbreds have ruled from par to 5 per cent, dearer, the position oi superior lots being practically unchanged, while the heavier-conditioned parcels were generally 5 per cent, higher. Medium qualities may be quoted from par to 5 per ceJit. cheaper, the rates paid tor stylish lots being frequently somewhat below March prices. Coarse grades have been in great demand for homo at prices generally 5 per cent, above those current at the close of the preceding series, shabby-eottcd lots realising especially satisfactory rates. . .Seourods and siiprs havo been in fair supply, the finer descriptions making about 5 per cent, and the coarser 5 to 7J per cent, in excess of previous quotations. South African wools ruled from par to 5 per cent, higher thaSi in March. Light-conditioned groasies were generally 5 per cent, dearer; snow-whites and scourcds, which were scarce, also sold well, but the prices paid for good-conditioned greasies havo frequently, proved disappoint-

ing." / In conclusion, the report says: "Under existing conditions of supply and demand a maintenance of current' quotations is confidently looked for. Business everywhere is good, and machinery is fully employed, tho present high values for both merinos and cros'sbreds being due to a genuine tradedemand and not to speculation."

As compared with the closing 'rates of the previous series, Messrs Baimo add the following current prices for Jfcw Zealand and Australian wool: "Merino in grease, exceptional lots, current price, Is (id to Is 7(1; Merino in grease, superior, Xd per lb dearer, current price, Is 2jd to Is 5Jd; merino in grease, average to good, .Jd per lb dearer, current price, Is Old to Is 2d; merino in giease, poor condition, par to Jd per lb dearer, current price, 9d to Is; merino in grease, inferior pieces and locks, Jd per lb dearer, current price. 'IJd to SJd; merino scoured, super, Id dearer, current price. 2s Did to 2s 4fjd; merino scoured, average to good, Id per lb dearer, current price, Is Old lo 2s; merino scoured, inferior, Id to Id per lb dearer, current, price, Is 3Jd to Is 3d; merino scoured, faulty pieces and locks, Jd per lb dearer, current price, SJd to Is 3d; merino lambs'-wool in grease, exceptional lots, current price, Is 5d to Is 7d; merino lambs' wool in grease, superior, par to Id per lb dearer, current price, Is Old to Is 4{d; merino lambs' wool in grease, medium, Id per lb dearer, current price, 9d to Is; merino lambs' wool in grease, inferior, Jd per lb dearer, current price, a\<\ to Bid; crossbred in grease, fine, par to Jd per lb dearer, current price, Is lkl to Is sld; crossbred in grease, medium, l'l per lb cheaper, current price, HJd to Is 3d; crossbred in grease, coarse, Jd per lb dearer, current price, lid lo Is 2d; crossbred in grease, inferior pieces and locks. Id per lb dearer, current price, 5Jd to WJd; crossbred in grease, lambs', Jd to Id per lb dearer, current price. 10J,d to Is 3£d; crossbred scoured, fific, Jd per lb dearer, current price, Is Oct to Is llid; crossbred scoured, coarse, Id per lb dearer, current price, Is Id to Is Old; crossbred sliped, fine, Id per lb dearer, current price, Is lid to Is 7d; crossbred sliped, coarse, Id flor lb dearer, current price, Is to Is 5d."

For the fourth series, which is to open on the. lOth July, the list ol arrivals will be closed on the 2nd of that month. To dato the gross arrivals arc 51,736 bales (10,728 from New Zealand, of which 1000 have been forwarded direct to manufacturing districts). The remaining series for the year open on the 25th September and the 27th * November respectively. DAIRY PRODUCE. For the lime of the year, it is considered by Messrs Veddel, Australian and New Zealand butter is meeting a very good demand. Prices now are about 4s per cwt higher than they were 12 months ago. This is largely due to the abnormally short supplies of foreign butter, as the arrivals from the colonies are about equal to last year. Shipments of butter from New Zealand are practically over for the season, and the Rimulakft, which sailed last, has only about GOOO boxes on board. Australian shipments, however, are keeping up remarkably well, averaging about 15.000 boxes a week, exported principally from Queensland. Prices remain firm, with a stronger tendency, and

" choicest" New Zealand is making 100s to 102s per cwt. with an extra shilling or two ior a specially, fancy quality. Australian, which now consists principally of New South Wales and Queensland makes, sells at 96s to 98s foi " choicest," with an occasional 100s. Tho exceptional character of tho season is well illustrated by the fact that tho Danish official quotation has never been raised in the month of May since the year 1839 until yesterday, when an advance of 2 kroner took place, snd the quotation now stands at 92 kroner, which is tho highest prico reached in May since 1892.

I am told by Messrs Wcddel that the stiffening which recently occurred in the prico of Canadian and New Zealand cheese has made a further advance of 2s on the week, although shipments afloat show a big increase. Kcw Zealand shipments, too, keep up well, and the llimntaku, due here about the 20th June, has 220 Ma pj* bo£rd, Erjsea

for wholesale qualities for New Zealand cheosa are: Choicest, Gls to 02s; finest, 60s to Gls, At this time last year.the respective prices for New Zealand descriptions were 51s to 52s and 60s.

'flio C.C. and tt Company reports the arrival of the steamers Ayrshire and Papanui with fresh supplies of New Zealand meat, The former lias brought 4381, carcases of mutton and the latter 2G,G55 carcases. Together, tho two steamers havo added 133,483 carcases of Now Zealand lamb to tho already existing supplies.

With reference to Mow Zealand mutton, die C.C. and D. Company write? that, although slocks are by no means heavy and the number of sheep afloat is no more than average, tho market is in a most unsatisfactory condition. All sellers appear to be actuated by an unreasonable desire to hasten sales, and it is difficult to give actual quotations. Canterbury sheep rango in value from 3}<l to 3Jd per lb, and complaints .regarding the quality of these sheep are numerous. North Island mutton is in the hands of many holders, and shows great variations in price. For small, good carcases as much as 3Jd will be nslced at one stall, while similar sheep can be bought elsewhere at 33d. Heavy she?!., havo been sold at 3£d, and medium weights at 3Jd per lb. In the present disorganised conditions prices are weak, and arc likely to go lower.

In spite of the facts that some holders of New Zealand lamb have been obliged to work supplies direct from the ship, and that the demand has not only been maintained but is increasing, the C.C. and D. Company reports that no improvement can be recorded in quotations. Sellers are numerous, and appear alarmed at tho numbers afloat. Best light Canterbury lambs are worth iip to 4Jd per lb, but North Island carcases are still selling very cheaply at 4d to 4&d per lb, according to quality. Inferior carcases are still plentiful.

Chilled beef is slightly dearer, so a battel inquiry has been experienced for that from New Zealand at 3|d per lb for hindquarters and 2Jd to 2gd per lb for forcquartws,