NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2253, 6 May 1897, Page 14

NEW ZEALAND PRODUCE IN LONDON.

(From Our Own Correspondent ) London, March 23. WOOL. With reference to the opening of the current wool sales mi eminent expert writes to me as follows : " Although American competition has become somewhat more rtitcriminating than was the case earlier in the year, it became quickly evident that after the opening of the current series of sales that Transatlantic demand had gained in relative impoi'tmcs since the close of the January- February auctions. This is due to the fomparativo want of ( activity on the part of Kionc!), English, and German operators, who, though well represented, havo so far failed to contribute very effectively to the support of the market— a fact which is hardly to be wondered at in the face of indifferent trade and the present troubled pha?c of Jthstera politics. While the batter inscriptions of merino wool in the grease comm -li'l Fob;uary prices, faulty aud inferior wool, both unwashed and s.-.ouved, sells irregularly, ;ii d frequently falls 5 per ceut short of tho p.ivity of the first teiies. The market for crosstbreds has run ujibii very similar lines, lightconditioned wool?, both coarse and tine, benefiting to a large extent by demaud on United States account, while shabby, dingy, and heavy wool, pav.icularly if fine-haired, exhibits weakness, ofteu amounting to a decline of 5 per cent, on February values."

New Zealand and Australian wool is coming forwaid eailier in the season this year than was tho rase last year, and it is thought that this cannot fail to affect the ratio between supply and demand in the autumn —unless, as wus the case in 1898, considerable quantities are carried forward from series to series.

On inquiry amona; the principal London authorities on the wool trade, I leara, with lefcreuce to the current wool sales, th.it the course of events during the pjst week has tended to heighten the contrast between tho respective prices for the class of wool which suits America aud for that outside the scope of Transatlantic demand. Owing to the growing improbability of any protective measure coming into force in the "United States befoie the Ist of May at the earliest, competition from that quarter has distinctly improved. During the past few day 3 French buyera have displayed rather more activity ; but English, :md especially German operators, continue reluctant to do more at the existing prices than to satisfy- their pressing need 0 . ,

Superior greasy merino wool firmly maintains the stvouij position it occupied in February, but deep-stapied wool in grease, when light in condition aud free from fault, is now Jd per lb dearer than at the close ot the first sevies. Other descriptions of unwashed, however, though somewhat iirmer than at the close of last week, still fall short of February rates. Merino lambs' wool is in good demand at last sales' quotations. Scoured woolrf remain practically unaffected by the American demar> 1, and in consequence show but little alteration mini opening prices. Lightconditioned, well-bred crossbred wools of all qualities meet with a, free sale at rates of last .saks, or up to id per lb dearer. "Shabby, wasting" wool, however, shows no improvement, and is occasionally *d per lb cheaper than it was last month.

In a memorandum received to-day from Messrs H. S. Fitter and Soiih I find the following very serious statement :— " The supply of Home-killerl lnuttoa is very short, and pi ices continue high. This fact ought to influence to a large extent the frozen meat trade ; but, unfortunately, the quality of the New Zealand muiton has so deteriorated that, whatever pr.ee the butchers have to pay, they must have Home-killed mutton." This is a very grave assertion, coming from such emineut authorities. They go on to pay : "There are still a lot of stale sheep oti offer at low prices, and until the3e are cleared off there is not much chance of any material advance in prices. There are also a great number of thin, weedy sheep on the market. These, when thawed, look simply wretched, and cause great dissatisfaction to the consumer. When the market again asmmes a healthy aopearance, there should bo no difficulty in obtaining better prices, as medium Home Jailed mutton is very dear." I trust that these remarks will receive careful attention in the colony. The demand for New Z^aUnd lamb is good, and the high price of Scotch sheep will, no doubt, help this trade ; but the three steamers Otarama, Duke of Westminster, and Pakeha, discharging simultaneously, have for the moment ratber pressed the market, and as it is rather early in the season, prices have given way somewhat, but there does not teem to bd any reason for a further decline ; but, on the contrary, as the Beason advances and the demand increase?, experts believe that this heahon will sh »vv satisfactory results. Messrs H. f* Fitter and Sons give the following quotations : Prime Down (New Zealand) ?heep, 3Jd to 3?d ; Canterbury (New Zealand) do, 2Jd to 3td ; Wellington do, 2Jd to 2^d ; Canterbury (New Zealand) lambs, 4id to sid ; Wellington do, 4d to 4Jd per lb. On th« same subject the C. C. and D. Company write : " The known scarcity and increasing dearneos oC Home-hred sheep should have the effect of hardening price?, and doubtless would wpre the meat of the came character as it used to be, and as popular ; but the vast quantities of plain and inferior sent Home, and the very unsatisfactory condition in whien it has too often been maiketed, havd detracted from its reputation and lessened its consumption in quarters where fairly remunerative prices could be afforded. Good sheep have been, and are, scarce— almost unobtainable. Even in the late arrivals of ' new season's' mutton really prime sheep havo not been 'seen, dealers in this class of meat finding it pietty well impossible to supply their requirempnts." Also Messrs W. Weddel and Co. say: "Many of the sheep fit present ofFeied are by no means high class, either as regards quality or condition."

' DAIRY PRODUCE,

Messrs Dempster, Peterson, and Co., of Glasgow, write to me as follows under yesterday's date :— "Sincd last week our markets in Scotland and England for colonial butter have, we regret to state, shown" no improvement. The tone generally has been quiet, with a slow and dragging sale, and the tendency to easier prices. Within the past few days, however, there has been a better inquiry for brands of choicest quality, but the consumption demand ha 3 not beea sufficient to warrant any advance in price even for theee. Danish butter is at present being retailed at Is per lb, and the public, prejudiced in its favour, naturally give it the preference. The

, low prices recently accepted for some brands of really good serviceable butter, though, not of Choicest quality, which were accumulating in agents' hands, have also had a depressing influence on the sale of best brands, and prices for these have in consequence been dragged down. Secondary qualities a>e now pretty-well gone into consumption, and there should continue a better inquiry for choicest. With the advent of the Irish butter season, and the fact that in some of our country districts the fanners are now fieely offering their fresh butter, we do not anticipate | any material advance in prices, 'the Danish ; official quotation remained unchanged in the end ! of last week, and stands at 02s to 100s (f.0.b.), j according to quality." i This week's Glasgow prices have teen as follow : — Choicest Danish, 100 dto 102s : choicest Swedish, 100s lo 102s ; finest Danish, %i to 953 ; finest Swedish, 96s IoWSs; choicest Australian, 92s to 94s ; choicest New Zealand, 02s to 94s ; finest Australian, 88s to 90s ; finest New Zealand, 883 to 90s.

Messrs Dempster, Peterson, and Co. also write that the demand for cheese keeps generally quiet, but stocks are light and sellers are firm in their views as to higher prices ruling in the near future. This week's Glasgow pvices have been : — Finest 'Canadian, 58s b'd to 60j ; finest Now Zealand, 58a to 60s. As to the London market, Messrs W. Weddel and Co. write to me to-day :— "The demand for New Zetland aud Australian butter has been much rnoro active this week and prices have an upward tendency, though quotably unchanged. Choicest and finest grades are comparatively scarce, and really choice butters find a ready sale at die."

On the other hand, the Colonial Consignment and Distributing Company write to me on the same date :— " Australian and New Zealand butter, if anything, has been more depressed than most kinds until the r-hango a week ago, business being more or less stagnant, with the demand very slow even at low prices. Shipments of fairly large quantities have been received during tbe montb, and on the whole the quality has been good, with the exception of variableness in some factories. . . . •There has, however, been a brisker demand during this last week, with suppliea moving freely at slightly firmer prices." Of New Zealand cheese, 300 tons will be delivered by the s.s. lonic next week, and Messis Weddel tell me that if it prove to be in good condition it will lind a good market. Prices of a f-w choice New Zealand cheeses being quoted at 57s to 595.

The C.C. and D Company say : "New Zealand cheese is in good demand, and on the whole shows an improvement in quality, but during the present experienced brisk demand buyers are not so particular in assessing quality, aud many faults pass unnoticed."

MISCELLANEOUS.

With regard to canned meat 3in Glasgow, Messrs Dempster, Peterson, and Co. say that, owing to the limited supplies from America and a better demand, prices are a shade higher. There is an increased inquiry fov sheeps' tongues, and holders have been able to make an advance of 3d per dozen. Tinned rabbits are also inquired for in Glasgow. The London market still continues bare of New Zealand wheat. For New Zealand oats the demands remains slow at unchanged rates. New Zealand beans arc dull, with easier prices, and are quoted at 31s to 32s 6d per 5011b. New Zealand flUx is in dull demand. At tbe sales held last Wednesday IGO bales of fair Wellington were offered, but were withdrawn at £14. Quotations are merely nominal. Preserved meat continues inactive, and business is quieter than ever. Nominal quotations are unchanged. For preserved mutton the demand is fairly good, wi*h slightly firmer prices, supplies being leather short. For rabbits lower prices are expected.

There is no material change in the tallow market. Trade has been quiet but steady, and prices aie unchanged. Hides are inclined to be dull, and Messrs Weddel tell me that tho export demand is likftly to fall off owing to the restrictions adopted by certain Continental countries. But they do not anticipate anything worse than a slight decline in prices. At last w ek's rabbit sales there was little demand, and prices for New Zealand rabbitskins remained unchanged.