NEW ZEALAND PRODUCE IN LONDON,

Otago Witness, Issue 2299, 24 March 1898, Page 14

NEW ZEALAND PRODUCE IN LONDON,

(From Our Own Correspondent.) Loxdon, February 12. WOOL. The first series of colonial wool sales of \hß current year, which opened on the 18th ult., closed on the 2nd inst, - ■ . It will bs lerneinbered that the sales opened with an average advance of 5 per cent, on merinos, which soon increased to 10 per cent. I learn, however, that prices were only maintained at this level for a few days, when, in consequence of some falling off in consumption from the home trade, a sl'ghtly weaker tone supervened, especially for faulty and inferior wools. Messrs Charles Balme and Co, inform me that the demand from the United States was chiefly directed towards dee»-grown light-conditioned New South | "Wales acd Queensland clips in the grease, which frequently obtained figures 15 per cent, in excess of the December final quotations. Scoured wools made very full prices, although superior combing parcels did not move much until towards the close of the aeries. Lambs' wool and fine-haired clothing wools were unusually scarce, and realised extreme prices. With the exception ,o£ the finer descriptions »nd long lustrous growths, which

roae 5 to 7i per cent., the conditions of demand have not been favourable to crossbred wool. Medium and coarse qualities during the first week gained 5 per cent., bub upon the receipt of unsatisfactory advices from Bradford the market weakened, and prices soon fell back to December rates. „ It is satisfactory to hear that the New Zealand clip from the North Island is in very giod order this season. 'J'he wool is bright, light in condition, and sound, but in some flocks the staple is rather deficient in length. It lias been pointed out to me by a prominent expert that the fact of the rise in values oFmeripo wools being due to scarcity of the raw material both actual and prospective, and not to any expansion of European consumption makes a forecast of the course of prices in the immediate future hazardous. The smallness of stocks of - merino 3in England and> on the Continent, the heavy faliing-off in the Australian clip since 3895, as vreli as the rapid change that has taken place of recpnt years in the quality of the Argentine production— 6s per cent, of which is now stated * to consist of crossbred wool— should render any reaction from tha comparatively high rates now current for merino wool both limited in extent and of temporary duration ; while, should the Aiieiican consumers continue their purchases during the remainder of the season with anything like the vigour which has characterised the operations during the present series, a further improvement in. values may be experienced. - As compared with the closing prices of ths previous series, Messra Balme an 3 Co. quote : Merino in grease, superior, £d to Id per lb dearer ; * do super, Id- per lb dearer; do average, Jd to Id per lb dearar ; do iuf ci ier, -Jd to £d per lb dearer ; </niermo scoured, super, Id per lb dearer ; do medium^ ljd per lb dearer ; do inferior, id to Id per lb dearer ; merino lambj' wool, superior, Id per lb dearer; do inferior, £d. per lb dearer; crossbred in grease, fine, §d to Id per lb dearer ; ■"" do coarse, par ; crossbred washed and scoured, fine-, ld,per lb dearer ; do coarse, par ; do sliped, par. The second series ia fixed to commence on the 15th. March, the list of quantities available being dosed at, 4pm. oa the 11th of that month, or on any earlier day when 300,000 bales shall have •' arrived. To date ■the- arrivals comprise 104,032 bales (including £882 from New Zealand), of which about 21,000 bales of New Zealand and Australian wool have been forwarded direct to manufacturing districts. The third and fourth series hay* heeu arranged to open on the 3rd of May and 28th o* June respectively, the new arrivals in each case being- limited to 300,000 bales. Mr Thonihs Mackenzie; representing the New Zealand Farmere' Co-operative Association in i London, writes to-day that the wool nurket in { the North of England continues to have a con- | fident tone, and there is a good average turnover j in all the leadicg grades of home and colonial j produce. There have been no public sales of j woollel sbeervkin* fno» the 13th ult., and the ; »>ext asi-'i "' - -•»' fnv Ihe 3rd prox. ' .J Jli-A.'' 1 i.e. '>.•_•. .. vjT.-*ay repcrl to-day that j li'jre has been within the last week or no a siightly improved demand for New Zealand nmttOD, and more sheep have gone into consumption without any great fall in values. Price*, I learn, are weaker, but there has been no great reduction, except for large, heavy carcases, which ' Holders now seem to realite cannot be advantageously kept longer. Some shipments that came to harid in September are only just cleared and others are still in stores, to go out row, at low prints, with four months' storage charges ~ incurred. "Really- good sheep are scarce, any of handy weights and in b.ight fresh condition aim Oat unobtainable, and there are buyers for ■ vr auch at comparatively high prices. The parcel of 70 sheep, said to be prize winners at the Wellington show selling at4<lper lb proves thh. Very prime ! sheep in breed, shape, ana rnnke, many were too "Heavy aad wasteful for g-n<?ial trade, but they j weie so bright and fresh thsy sold readily, and are said no; only to have satisfied the buyer, bu i j pleased his customers as. well. This time last year afforded a similar example, a number of sizea^ie ' sheep of the same description making up to 4&d .per lb, Ihe heavier 3|d per lb, their bloom and fresh, bright condition selling them as they did the parcel this year. Buyers are again, leceiving complaints from their customers of New Zealand lautton being dry and tasteless, and sometimes tallowy, as they did a year ago when several gave ! up its use, substituting Dutch or home-killed j until new season's fresh-killed, meat was procurable—a practice that will probably be reverted to ' this year. Quotations are difficult, sales have been made at such varying prices. The bpst 551b to 681b Canteiburys have sold from 3d to 3*d per lb, the higher prices probably paid for the brand and was not the intiinsic v^lub of ths mutton. Canterbury of fiblb and upwards have sold at 2fd ' per lb down to 2^d per lb for the heaviest (701b to | 801b) ; sheep of about 521b at 3£d per lb ; but these light-weights are scarce ai)d sought after, and long lines of these could b,3 placet! if in fresh condition. Dunedins and Southlands can be quoted, the best light-weights at £Ji per lb, 55)b to 641b at £Jd psr lb, heavier (66*b and upwards) at 2£d to 2f d Ncvth Island mutton at 2|d to £|d per lb, though a number of fresh landed were sold three week* ago at 2rt per lb." The lambs which arrived by the Rangatira and the Earkoura came to an absolutely bare market, and the Co'onial C' nsignment and Distributing Company write :— " Promptly landed, those ex Rangatira have made the highest prices of re 'ent years ; a mixed parcel as lesards coudition, they •were generally of excellent quality, well-shaped and well bred, hut many lacked condition end finish, and were fortunate iv corniiig to a market in which nothing else was offering, or 7d per lb would not have been realised, as it has been for the bulk." Messis H. S. Fitter and Sons say: "The demand- for frozsn mutton shows signs of improvement, and no doubt prices would now have "been better had it not been for the large quantity ■ of big, fat, unsaleable sheep, and also sheep of very poor quality. The big sheep are utterly .useless for ihe province-!, and find a v»iy slow sale in LondoD, consequently they are offered at very low prices, and thereby check the advance in piices which' otherwise would have taken "place. The demand for New Zealand lamb is good, and as there are very few on the market prices are very high. These prices cannot be expected to last when larger quantities arrive, but it showa what can bs done when the market is not over-eupplied and a suitable article is shipped." TT f Jcy quote : Canterbury (New Zealand) sheep at 3d to 31rl per lb, Wellington 2Jd to " 3d ; New Zealand beef, hindquarters 3£d to 3|d, forequa'ters 2Jd to 2Jd per lb ; New Zealand lambs (Downs) 6d to 7d per lb. Messrs W. Weddel report that " the quality and condition of New Zealand beef leaves little to be desired." DAIRY PRODUCE. Messrs Weddel say that the demand for New Zealand butter continues good, and prices have advanced 2s per cwt. Choicest brands are now selling at 94s to 963, with, in very late ca,'es, 983 Finest are about Sss to 90s. Ihe 36,800 boxes of New Zealand and Australian butter to hand by the Kaikoura and Arcadia have been landed in good condition. The C.C. and D. Co. say that New Zealand and New South Wales have increased their output of butter, and the quality has been fairly well maintained ; " but larga quantities have still been conjing forward, 'fishy' in flavour. We must again call attention to the fact that some of the older and better known factories have not been progressing at the same rate the newer ones have. Until a fortnight ago business was very sick, stimulated by the unseasonable weather ; but, in sympathy with other butters, has since been brisker, and although the rise in prices is ' not great, there is a firmer tone, and there appears every prospect of the colonial season closing well,, although many purchases made on the other side are likely to lose money. New Zealand butter has been arriving in large quantities, and the quality shows improvement. la many districts on this side it ia preferred to Australian, and during tha last week large purchases have been made for the Midland Counties, the West of England, and South Wales." From the same firm I hear that further arrivals of New Zealand cheese have come to hand "and the quality on the whole ia up to the average of last season's early shipments. Prices, of course, have been on a low level, but, compared with Canadian, thoy havt been good. With the

American market in the state it is, there is little prospect of New Zealand cheese improving in price to any extent. Coloured cheese has been : in better demand than white, 6.i to Is having been obtainable." "With regard to cheese, Messrs Weddel remark : "The market continues dull and unsatisfactoiy. . . . New Zealand is making from 38s to 41a. A large quantity of the Rangatira's cheese was not so good as the Rimutaka's, and it will require some time to ripen." MISCELLANEOUS. At recent sales there has been a slightly better inquiry for New Zealand oats, and fine heavy samples are now quoted at 25s to 26s ; fair ordinary, 23s to 245. Quotations for New Zealand bea.ns are merely nominal, and there is no improvement in the demand. The demand far New Zealand flax was dull at the last auctions, but quotations remain unchanged. Values in preserved beef and mutton are steadily improving. Compressed beef meets a ready sale, and the advance is fully maintained. Low prices are ruling for rabbits, and. in consequence dealers are paying more attention to them, j 21b tins of boiled beef are quoted at 53 6d to 6s 3d tier dozen, and the same sized tins of mutton at 7s to 8i per dozen. New Zealand boiled rabbit! (flat tins, 21b), 53 b'd to 6s 9d per dozen. A moderate demand has been experienced for tal'ow, and Messrs Weddel say that, out of 2139 Cisks offered 1157 were sold at their last auctions Beef tallow and medium sorts are quoted occasionally 3d per cwt lower, but values for mutton j are fully maintained, holders being firm. C.i.f. . transactions have been limited; but an advance of fid to 9d per cwt on late iates has been secured for mixed sorts, which are quoted 19s (id to 20s 31 per cwt, c.i.f. ' There havejbeen no recent public sales of rabbit- ; skins, and therefore nothing to report. New Zealand honey is scarce, and really good quality would realise quite 35a per cwt, if not more. KAURI GUM Messrs Figgis and Co. held their last sales of > kauri gum on the 10th inst. when the very mode- < rate arrivals were quite unequal to the den. and, and deliveries exeseded landings by 100 tons. , Buyers were privately eager to secure any gum, ! and higher prices were paid. About l£oo cases three-quarter scraped sold at 983 to 100 j , and some half-scraped at 75s to 80s. -Scarcely any of these , qualities or pickings are now obtainable, and Messrs F>'ggis inform me that at their sales on Thur-day labt exti'avasant prices were paid, the advance? being generally 5* to 10j per cwt, and everything wast sold. In all 1734 packages were offered. 'Ihe following i* the result of the auction : D.al, sold at £14 to £14 17s 6d ; rescraped sold at £5 15s to £11 7s 6d ; three-quarter scraped sold, fair to good £5 10s to £5 15s ; middling, £5 2s 6d ; half scraped, good, sold at 85s ; pickings, fair to good clean sold at 63s- to 67s ; chips sold »t 26s to 85s ; siftings and dust sold at 20s to 32s (two cases 49 -); bush sold at 43s to £6 2* 6 J (two cases fine £8) ; dark brown sold at 42s t to £5 17s 6d. The next sales 1 will be held on the 10th of March by Messrs Figsis.