OUR COMMERCIAL LETTER.

Otago Witness, Issue 2087, 22 February 1894, Page 12

OUR COMMERCIAL LETTER.

(From Our Special Correspondent.) London, January 5.

I learn that since the close of the late wool sales the market has been extremely quiet, transactions by private treaty being confined within narrow limits. Advices from the manufacturing centres, particularly from the Home districts, continue to be characterised by a somewhat hopeful tone with regard to trade prospects during the present year. Apart, however, from special causes, any decided improvement in values appears to depend largely upon the course of events in the United States. According to my latest information on this subject, the arrivals to date for the next series of wool sales (which open ou the 16th inst.) amount to 117,600 bales, of which about 43,000 bales have been forwarded direct to tbe Continent, Yorkshire, and other localities of demand. Some light may possibly be thrown on probabilities in regard to wool by the following : — A sale of River Plate wool was held in Liverpool on Wednesday last, the catalogue consisting of some 417 bales from Monte Video, and 912 Bueuos Ayres produce. There was a good attendance of Home buyers, and a few Continental operators were present. _ The competition was brisk for the coarser qualities of crossbred staple, which realised full rates. Buenos Ayres merinos, however, which are this season mostly in poor condition, having suffered from drought during the period of growth, were in small request and were chiefly withdrawn. I understand they have mostly been placed since by private sale, but the prices charged have not transpired. HUTTER. With reference to colonial butter, Messrs Coey and Co. report under to-day's date :— " Owing to colder weather there is a better feeling and buyers have more confidence. We are well cleared of butter ex Massilia, and if it were not for the large shipments afloat higher prices ceuld be made. Butter ex Massilia is in fine condition, and we hope to find that ex Orizaba, due to-morrow, open equally well." FROZEN MEAT. Messrs Nelson Brothers report as follows :— We are pleased to have to record a very marked improvement in the frozen meat trade that set in with the New Year. Demand has been fairly active, the weather seasonable, and thanks to concentration, for stocks of meat aie in very few hands, prices have advanced rapidly till they have now once more reached remunerative rates. New Zealand Mutton. — There have been no arrivals since the Indramayo on the 16th ult. ; her cargo has been discharged in good condition. The next and only vessel from New Zealand nearly due is the Ruapehu, which should arrive on the 7th, with about 11.0G0 carcases, or noc one-third of a full cargo. Since Monday last there has been a considerable advance in prices, any veiy prime neat Canterbury wethers, of handy weights, fetching 4gd per Ib, and being inquired for ; heavy Canterbury sheep, 681b to 701b, are woith 4}d per Ib ; as are Dunedin, Bluff, and the best of the Noith Island sheep, and are in very fair demand at those prices. There is more life in the market, and the absence of Dutch sheep and cheaper sorts of Home killed have been in favour of frozen meat. New Zealand Lamb has advanced somewhat in price, selling in Smithfield at about 5d per Ib. Demand, however, is very limited.