NEW ZEALAND PRODUCE IN LONDON.

Otago Daily Times, Issue 13942, 29 June 1907, Page 12

NEW ZEALAND PRODUCE IN LONDON.

(Faou Oca Own Cobrespokdmt.) LONDON, May 17. WOOL. Yesterday saw the close ot the third series of colonial wool sales of "the current year, which opened on tlw 30th uil. Mossra Balmo write that tho available quiuititiea were approximately 162,000 bales, including 93,000 from New Zealand, which colony by ft long way headed the list, as New South Vv'iiies occupied second place with 21,000 bales. About 16,000 bales were held over, including 12,000 bales from New Zealand, against 950 bales held over at "the corresponding series of 1906, when £000 of that number were from Key? Zeaiand. Of the quantity sold on this occasion about 55,000 bales have been taken for export, including some 4000 biles purchased for shipment to America.

The roport on the sales issued by ilsssia Balme and Co. runs as folloivs:— "Since the close of the March auctions, business in the manufacturing centres has continued very active, and consumption of both merinos and crosabreds unusually large. In spite of this satisfactory state of affairs, heavy arrivals of direct purchases caused some congestion in the Bradford district prior to -the opening of the scries, which was reflected in lower quotations for tops made from the coarser grades of wool; tho position of merinos and fine crossbreds, however, was not sifoctcd. Throughout the sales the bolter olasßos of merinos have met with a keen demand at previous rates, the results obtained for New Zealand seoureds 'wing eopecißr.y satisfactory. On the other hand, faulty ecoureds and heavy masting greasies have sold somewhst irregularly.

"Fine cro6sbrcds in the grease have been woll competed for, New. Zealand descriptions having frequently realised slightly higher prices than in March. TVie fluctuations in vttlnos for medium and coarse nossbreds have been unusually sharp. Beginning with a decline of G per cent., they rapid'y fell another 2i to 5 per cent. This fall induced a considerable increase in the volume of competition, with the result that quotations gradually hardened, until at the clo3o of tho sales light-conditioned paresis of both qualities ruled ful'y up to and occasionally exceeded the previous sale's final rates; whilo shabby, poor-conditionod lota sold at from par to 5 per cent, bslou- that level. Among scoureds and slipes, the iir.cst sorts have been practically unchanged; medium growths of combing , length were 5 per cent, and long-stapled coar.w descriptions 2J per eent. lower, but clothing parcels oirt ot these qualities have sold c!o.=cly up to March rates. " Nothing has occurred during the past few weeks to check in any way the groat activity in the wool trade which has been noticeable duriug the present year.' Consumption is well maintained—indeed, complaints are rife that combers nnd spuiner.3 are tinable to deliver last enough to satisfy their clients; while manufacturers hiive orders on their boo!; 3 which will keep them busy for some time to come. In these circumstances, a continuance of high prices for all grades, of wool seems assured."

As compared with the closing rates of tlie previous series, Messrs Ba!mo now giro the following price 3 for N«w Zealand and Australian wool:—Merino, in groiso, superior, par (current price Is 2d to Is GVd); mcruio. in grease, average to good, par (current price 11W to Is l*d); merino, in graisc, poor condition, par to hi per lb cheaper (current price Bd to lid); merino, in grease, inferior pieces and looks, par to li per lb cheaper (current price 3jd to 7jd); merino, scoured, superior, exceptional lota 2s 3£d to 2s sd; merino, scoured, superior, par to Jd per lb dearer (current price 2s O.'.d -to 2s 3d); merino, scoured, average to good, pstr (current price Is 3d to 2s); merino, scoured, inferior, }d to Id per lb cheaper (current price Is 2d to Is 7d); merino, scoured, faulty pieces and locks, id per lb cheaper (current price BJd to Is lid); merino, fleece-washed, exceptional lots, 2s Id 1o 2s 3d; merino, lambs' wool in grease, superior, par (current price Is Id to Is -l^ct); rcerino, inmW wool iu gre&se, medium, par (current price 10d to Is OJd); do do inferior,, por (current price Gfd to OJd); crossbred, in grease, fine, par to Jd per lb dearer (current price lHd to Js 6d); crossbred, in grease, medium, par to Jd per lb cheaper (curront price 9{d to la 2Jd); crosobred, in grease, coarse, par to 3d per lb dearer (current price 9Jd to Is Id); crossbred, in grease, inferior pieces and locks, }d per lb cheaper (curront price 5Jd to 8}d); crossbred, in grease, lambs, Id per lb cheaper (current price BJd to Is 3d); crossbred, scoured, fine, par (current price Is 4Jd to Iβ lljd); crossbred, scoured, coarse, Jd per lb cheeper (current price IOJd to Is s£d); crossbred sliped, fine, par (current price lljd to Is Gd); crossbred, sliped, medium, Jd to Id per ib cheaper (current price lid to Is 3d); crosshred, sliped, coarse, Jd per lb cheaper (current price 10M to Is 2(1).

Tlie fourth series in fixed to open on the 9th July, the list of arrivals being closed at 4 p.m. on the Ist of that month. To dste the gross arriveU are 150,008 bales, of which about 9000 bales of New Zealand have been forwarded direct to manufacturing districts.

Of the late sales Messrs Weddcl write: — "Throughout the auctions buyers remained in close attendance, and each sitting witnessed keen competition for all grades of greasy ni«rinos, the choice in which was not noteworthy. Rates remained steady throughout, with some slight improvement during tho closing days. Seoureds were not over plentiful, and the bc.it lots sold fully up to March rates. Short-skinned parcels, on the other hand, were difficult of sale, and showed m average of about 1§ per oont. decline. Lsmbs, Iwth grease and coonrcd, have ruled unaltered. Cro3sbreds Trent easier for a day or two after tho opeaiing, but the second week witnessed a return of Confidence, and rates were put up all round and rule;! firm to the close. Fine grades finished quite firm at March prices, good mediums beinsf just a little lower, while the ordinary nui of coarse qualities was nearly, if not quite, up to the March basis. Shabby medium qualities were thus the only grades which were distinctly cheaper, and at a 74 per cent, decline were not much in favour. Lambs sold somewhat irregularly at a genera! decline of 5 per cent. Slipes oloscd' strongly, and could be quoted on average unchanged from March, with the exception of medium qualities, which were nearly 7J per cent, cheaper, The generally busy state of affairs in manufacturing centres has thus been reflected in the London market, and the recent levelling up of prices may well be takon as promising well for the rest of tho year. There is a lengthy inforval beforo the next sales be?in on the Oth July.' STOEPSKIKS. Messrs and Co. report:—"At auction last weok about 3920 bales Australian and Cape skins wsrre offered, beaide3 750 South American, and nearly all were sold. As ,opmpirs4 vjjtli tyst (ilst M»rch)

Australasian merino combing skins were unchanged. Pine ami medium crossbred combing, Jt! per lb lowar; coarse crossbred combing, id per lb lower; obthing merino crossbred, psir (o Jd per lb lower; short, pelts, irregular, and often Jd por lb lower." DAIRY PRODUCE. The National Mortgage and Agency Company mention that the s.s. lonic is now discharging her cargo, and most of the best brands ot New Zaaland butter arc baing sold as they come to hand. Tho demand is good (or choicest quality, but anything showing the least signs of being off in flavour is difficult to dispose of. Finest salted Now Zeiland buttor is quoted at 38s, 903, and 100s par cwt; good to (in® at 90s to 935; and milled at 76s to 80s. Tho quantity of finest cheooo offering is exceedingly small, nnd buyers nro practically without stock. This lias caused a stnarf riso in the prie« of New Zealand obecsc, as it is undoubtedly the bed checse now on tho market. New Zealand white and coloured is quoted at CGs, 645, and 65s per cwt. IUBBITSKINB. At tho Inst sa-lo of rabbikkins 1571 bales were offered, and 1215 bales were Bold. Hie oollcotion from New Zealand comprised a fair proportion of winter selections. Tb*«e were net svioported by dre-swrs. and only P'rtly sold at about lit per lb lwlow March prices, stout pelted showing most deprecia-

tion. Outgoing and low season were fairly steady, while light nnd sucker realised full prices. The few greasy skins offered nold nt slightly oisier values. Black and silvery were not saleable at stoady price?. Top price fer New Zealand skins, fair to good season, is Is 7d to 2« 2d per lb.