NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2251, 22 April 1897, Page 7

NEW ZEALAND PRODUCE IN LONDON.

(From Our Own Correspondent.) London, March 5.

From one of the leading firms in the woollen trade I learn that a demand on French account for New Zealand and Australian combing me iuo wool has been experienced during the past week, and several hundred bales have changed handß at prices fully up to the closing rates of February. Sales are also reported of one or two parcels of African fleeces on similar terms. This movement, taking placq so cloae to the opening of a large series of sjjes, in conjunction with the improved American inquiry which I mentioned recently, ensures that at the opening of the auctions on Tuesday next February quotations will be

at any rate iirmly maintained. Moreover, in spits of the large quantities of colonial wool absorbed by the United States marked oince the election of Mr ftl'Kmley, it is anticipated that American buyers will again operate with considerable freedom.

The programme for the m xfc series of sales has beeu iai-ued. It extends ro the 7th April. Th- arrivals to date are 371,568 bales, including 74,766 biles from New Zealand. Of the total amouut, about 79,500 bales (59,000 New Zealand and Australian) bave been forwarded direct to thu Continent and to Yorkshire. The list closes to-morrow.

JUesßis W. Weddel and Co. write: "Since the close of the fiivt series of ea!e3 the market has been very quiet, and transactions have only been made on a scale for bjth Home and American trades. Although the tone generally in the various manufacturing centres in Europe t-till leaves a good deal to bw resired, there has of late been ra'.her more disposition to do business, .spinners for certain brauch.es of the trade being better employed thau they were at the beginning of the year. It is expected tbat the position all round will become better defined at the opening of the second series of sales here on the 9th met., when it is hoped that American buyers may again play an active part."

NEW ZEALAND MEAT

Writing to me about the frczen meat market to-day, this is what Messrs H S. Fntsr and Sons tell me: "The frtzsn mutton trade is still iv a most unsatisfactory condition ; really prime sheep are in demand, but there is such an abundance of middling aud interior quality mutton, and holders are so anxious to sell, that the market ia beiug unduly pressed every day." With regard to frozen lambs, the same firm write : " The new season New Zealand lamb trade is now commencing, and the dernaud, considering the time of year, is very satisfactory. There are, however, a good many lambi just now arriving, aud probably prices will not be quite so good as soou as a large number of these are available. Some of the lambs are large. This is rather unfortunate, for at the beginning of tb.9 season mosb of the lambs are sold in quart j rs, cansequeutly small ones a*e wanted." Prime Down (New Zealand) sheep are quoted at 3d to Zf i ; Canterbury sheep, 2£d to 3£d ; Wellington, tyd to 2i|d ; Cauterbury lambs, 4fd to s£d ; Welliugton lambs, 4d to 4f d.

The C. O. and D. Co. 3ny that the same stagnation rules throughout the frozen meat market, and though sales have been fprced and prices lowered, only small numbers have been cleared. All other kinds of mutton— English, Scotch, German, and Home-killed Argentine — are daily rising iv price. The C. C. and D. Cj. say that a few years ago a rapid advance in the values of other mutton would have eeen a corresponding rise in New Zealand ; but this is not the case, and as one has gone up the other has gone down. Thay further say that prices for Ne.w Zealand meat have seldom been lower than they are at present, and that certainly such a continued low range of values is quite unprecedented

With regard to-New Zealand lambs, the same firm tell me that there has been a good inquiry for the new season's, and most of them have be?n sold so soon as landed at from 5d to s£d per lb. While bright, fresh carcases find a ready market, last season's lambs are difficult to sell, and large numbers oi thesa are still coming on the market.

Messrs W. Weddel and Co. have much the same story to tell. This is what they write to me: — '-The position of the New Zealand frozen mutton market cantinues very unsatisfactory. Sales have been exceedingly slow, and the neb result of the past fortnight's operations Las been a further increase in stocks held in London. As regards values, best prime and secondary grades are miking less money. Canterbu - y3 have during the last few dajs been in better request, owing to the dearness of Argentine sheep ; but prices are no higher, and holders have great difficulty in obtaining more than 3 l-8d per lb for best sorts. A few selected carcises have been sold at 3j:d per lb, bub the quantity rea'isiug this figure is too small for quotable purposes. A far larger nnmber are making only 3d per lb, while a good many plain, inferior carcases have been sold at 2 7-8 d per lb."

MISCELLANEOUS.

New Zealand oats continue quiet, and quotations for Nesv Zealand beans are merely nominal. New Zealand flax stands at nominal quotations also. At the last sales 637 bales were offered and held for previous rates, but there were no buyers at these prices. Sisal was disposed of a"; £15, beiug fully 10s lower. In cDnbequence of limi/pd supplies, preserved mutton has been firm. Bsef, however, has only been in small demand, and so have rabbits. Here again quotations are only nominal. A fair amount of business has been done privately in tallow, and good mutton has been sold at 183 9d, and good beef at 17s 6d. The market for hides is quiet, and there is nothing fresh with regard to rabbitakins.

DAIRY PRODUCE.

From G'asgow Messrs Dempster, Peterson, and Co. write to me to-day as follows : — " Our market for colonial butter still continues quiet, but there are a few parcels yet in sellers' hands, which are pressed tor sale at low rates. When thepe are pushed eff a better feeling will be experienced in our market. Prices to-da7 for Australian — 94s ta 96s for choicest, and 903 to 92s tor brands not so well known bub of choice quality." There has been a considerable and inexplicable fall in the price of butter general 'y, and this has been shared by the New Zealand produce. Choicest butter is quoted at only 92s to 943, other qualities being oown proportionately. On the other hand, New Zealand cheese continues at a very high price, 53s to 59s for white and 57s to 53s for coloured. lam afraid that those New Zealand producers who sold their

cheese in advance at 40s or less must now be bitterly repeutent of their precipitation.

cheese in advance »t 40s or iesß must now be bitterly repeutent of their precipitation. During a recent scarcity ot buttor in Yorkshire some purchases were made ot New Zealand buttertrom Manchester. Au assurance wim given that it was quite equal in quality to Ditiisb, bus one of the purchasers tells me that a good deal of disappointment was lelt when the butter was received, as it was considered by no _, means equal to Danish, and too absolutely tresh to suit the local taste, which prefers h. touch of saltness and the more pronounced flavour which salt brings out in the butter. I