NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2215, 13 August 1896, Page 7

NEW ZEALAND PRODUCE IN LONDON.

(From Our Own Correspondent.) London, Juno 26. - The programme for- the next wool B»lesha» now been issued, and as at present arrauged, exteudo from the 30th inst to the 27th prox.. - During the past few days a somewhat, more 'hopeful tone has been 'noticeable, bo the authorities tell mo, in the reports from Bradford'; but with this i exception the position of the wool market remains unaltered since the date of my last advices. "On. the eve of a new series of wool sales," writes to me a friend in the trade, "it is perhaps of interest to recapitulate some of tho main circumstances which are of direct importance to the woollen trade. As regards production; a- substantialisliortage from the Australasian and Cape Colonies )9 but very, slightly compensated for by a Binall increase In the River IJlate productions. There has been a steady, if gradual, growth of conßumptioni in all quarters, with the exception of America, and the present asp set of trade seems to favour a further expansion in the future. It. would appear, however, that, leaving the United States out of the question, tho present consuming power of the rest of the world is able to do liltle more than to absorb existing supplies at recent rate.", and that for any marked improvement in values we mu»t look to some revival of ( American activity. " Houce," he continues, " the varying prospects of the outcome of the present political Btruggle in that country are watched with the keanest interest by all concerned in our industry ;. and while on the one hand the present outlook for sound money appears to be fairly satisfactory, a resumption of the tariff rates on raw wool and a proportionate increase on manufactured goods, though they might induce some temporary spirit before imposition, would in the long run undoubtedly tend to- contract the volume of ' European exports." The arrivals for the fifth series now amount to 111.D71 baleß, including 67,075 from N«w Zealand. About 4500 bales- of New.Zealand and Australian and 10,000 of South Afiica have been forwatded direct to the various manufacturing districts. • - >• FROZEN HKAT. ' j. ' With regard to~ the frozen meat trade, Messrs H. S. Fitter and Sons' write to me" today as followi :— "The frozen mutton trade, after a,very long state of depression, shows at last so me, sign of an improvement. Those who Mild sheep are not quite so anxious to sell at ridicuouay: low prices, and the market has not been so glutted, consequently prices have a firmer tendency, and the outlook iB decidedly brighter. There are, however, a great many stale sheep on hand, whica will probably be plac*d on the market very eoori now, and, although the supplies to arrive will fall off, the demand after next month will Blacken considerably, thus making it. very risky to hold for very high prices. The demand for lambs continues good, and although large quantities have lately arrived prices h*ve remained firm and prospects are good." The following are the latest quotations for Now Zealand mutton :-Canterbury, 3Jd to 3|d per lb ; Wellington, 2}d to 3d. For lamb-Canterbury, 4Jd to Bid per lb ; Dunedin,, 4Jd to 43d ; Wellington, 4ii to 4id. ' MISCELLANEOUS. A sale of New Zealand flax was held on Wednesday last, but there was very little demand and most of the lots were withdrawn. Quotations are purely nominal, but the latest supplied to mo by Messrs Weddel and Co. are a% follow :-Fme Auckland, £16: good Lyttelton, £\5 10a; fair Wellington, £15 si. . . __ There is nothing doing in preserved meati. No nominal reduction has taken .place in prices, but that is only because no sales have been effected. Preserved rabbits seem likely to improve. Tallow is duller than ever. The recent improve, ment has not been sustained, but prices have gone back to the old level. A sale was held, or, rather, attempted, on Wednesday, but of 1150 casks which were offered only some 280 wero Bold. Hides and rabbitskins are unchanged.

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