NEW ZEALAND PRODUCE IN LONDON.

Otago Daily Times, Issue 13857, 21 March 1907, Page 2

NEW ZEALAND PRODUCE IN LONDON.

(Fitosi Ora Own Correspondent.) LOUDON, February 1. wooi.. On January 30 Ilie first series of colonial wool sales of the cuTronl year was brought to a close; it opened on January 13. The available supplies wore approximately 153,000 bales,. New Zealcnd aud New Soulh Wales each contributing 37,000 bales. Some 3000 bales wore held over, including 400 from Not Zealand. Of ilic quantity sold, about 73,000 bales havo beeu taken lor export, including some 13,000 bales purchased for shipment to America. Messrs Ba.lmc End Co. write as follows regarding tbe late sales:—" Owing to the lato arrival of the now reason's wool from Australia and 'the- over-sold condition of tlio market tor tbe coarser qualities of crossbreds, several consumes were obliged to make fairly largo purchases to fulfil existing contracts during (ho interval which elapsed between the close of the December and the opening ot the January auctions, and vero forced to pay very high prices for tbc latter class of produce. In tho manufacturing districts consumption was well maintained, and showed a tendency to expand as regards merinos. ! ho demand for which in this country is now larger than for soma years past. Prices for merinos have not undergone any very appreciable alteration. At tho outse-t of the series qimiationx for inferior.sorts wore somewhat irregular, but this weakness was only temporary, and with the progress of tho auctions competition for most classes strengthened, 'final rates being fractionally higher than those current at the closc of last sales for all grades except avcrago to good greasies. which throughout have sofd in. buyers' favour. Lambs wr.ol lias been in exceptionally keen request' from all quarters at an advance of 7i per cent. Fino crossbred* in t!ic grease have sold readily at December prices; the belter descriptions of medium quality, which have met with a strong demand on American account, have ulfo maintained their position, but similar growths in poor condition have declined Jd per lb. Coarso sorts were slightly dearer to begin with, but later on competition from the Home trade became less vigorous, and ultimately prices were about 5 per cent, below previous values. Scoureds and siipes which have been in small supply, have made slightly more money than in' Dsc-eni'l-cr, the improvement being especially noticeable among the latter The condition of tile New Zealand clip, speaking generally, appears distinctly heavier than last season. The wools are well grown and thoroughly sound, but the fleeces carry a considerable quantity of yolk, whereas last year tliev were exceptionally light in tho grease." After referring to the selection of South African' wool, which has sold freely, ilessrs I3alme continue: "With tho present scale of consumption for merino wools, a. maintenance of current quotation adeems probable. The [•osition of the finerigrades of crossbrcds is also generally considered satisfactory; as regards the coarser qualities, however, the outlook is at present somewhat obscured by the results ol" the forward sales made in Octobcr and November last, and until the cheap tops which were then disposed, ot, and which are now being delivered to consumers :ii prices quite out of proportion to those ruling for tho raw material, have been absorbed, the market is likely to remain in a somewhat unsettled and sensitive condition." The second series of sales is to open on March 12, the new arrivals being limited to 150,000 bales net; lo date the gross arrivals arc 114,>139 bales, 10,169 being from Now Zealand. Of this latter quantity GOOO bales have been forwarded to manufacturing districts direct. Other dates arranged for tho year aro: April 30, July 0, September 24, November 26. The next sale of woolled sheepskins will be held ,on February 7. DAIRY PRODUCE. Writing lome to-day, Messrs W. Weddel and Co. say that the market for 2few Zealand and Australian butter lias been somewhat quiet after tbe excessive activity of last week. This has been, brought about by "two main, causes—first, the iUxiwlsy

and, secondly, fhe moxo than usual weekly purchases niado to 10 days ago. At tlio beginning of the v/ecl; prices hardened under tile influence of luildars, who declined to lower their price?, and i buyers have had to yield In the sellers. One; or two firms, however, tfwided to press sftes, and a weaker' condition. of tho market was )>rought about. Sti'il, prices remain at. last week's level, and as arrivals will again bo comjuratively sircill, values nro cspociwd to remain at their present. level. Tho Tery_.'tago sup'pKes'of Australian butter this year are 'having a pomiaiioiif. and very beneficial aiect upon tho, market, as the butter is finding its way 'into msvnj- hundreds ot trader 1 !! • shops who novor hsraUed it. bcfoie, and if th*> had been of the same high standard-.is- jSiew Zoulaiid butter, it would have given tlai Australian.-product, a much firmer hold' of! tho market than it- ever had before. The I'aieha is due from Now Zealand next woek with\&)oo boxes of New Zealand butter for West toast ports, and the Kaikonra is coming to Ijon'lou with 10.800 boxes, but somo erf this will Vo sent by rail to the West. Const. New Zealand "choicest.'' butter is making 101 st') and "finest" .9Ss to 1098; "choicest'' Australian, is qircted at 98s to 100s per cwt, end'"finest" at tUs to 5Gs. Australian quotations nro Gs lower -than last Star, and New ZeuAmrl 3s lower. s.z."xr..\v. T!ae C.C. and D. .Company report this nfleMOOii that, although stocks of Xew Zealand nnifl ton have not l-jen iiuqmi/ited hy any arrival fluring the week, and hp in very moderate compass, they still appear -to bo adequate for requirements! A slight, improvement in the demand ceil !*■ recorded, but there has been no movement in quotations. Canterbury brands are stiil extremely scarce, and the quotations given are' practical*;,' nominal. jS'orth Island phcep rratg; in value from "td to '!}d per lb, the lsA'oer jirice being for gccul. light. carcases, which am extremely scarce. The available supplies of 23 sw Zealand lambs are too limited t,o make a. and the quotation.of Gd to GJd por lb little moro Ihan umuina.l. The trade i.-: ex-s-dlsed by tho conflicting reports concerning - ft-Si effects of the drought in Canterbury, sni information regarding future supplies shows very wide Tivergence. J'* Zealand be«f fiJiOS'a dragging sa-le, and quotations are without change.