NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2302, 14 April 1898, Page 7

NEW ZEALAND PRODUCE IN LONDON.

(From Our Own Correspondent.) London, February 26. WOOL. From a recognised authority in the woollen market I learn that no change has taken place in the position or prospects of that market. Merino produce is still in good demand, bub transactions are few and unimportant, holders considering that the prospective paucity of supplies of this class should make for enhanced . rates in the future. Owing to the contraction in the export demand, advices from ' the various woollen industrial centres still report a dragging and unsatisfactory market for both yarns and goods, and the values of such descriptions of the raw material an are in normal supply are consequently rather wanting in stability. NEW ZEALAND MEAT. From Messrs H. S. Fitter and Sons, to-day, I learn that the frozen mutton trade is improving, but they continue as follows: — "There are, however, still too many big, unsaleable sheep on offer, and these prevent any rapid rise in prices. ,Tl\e stale and partially damaged sheop Ih&b ha.*o lately been troubling the market are now going off very well, and we are i&eiog $hat ia the near future wo shall be able.

to report more satisfactory prices." With .regard to lamb they say :: — '* Considering how early it- is in the season, the demand for New Zealand lamb has been satisfactory, and good prices have-been realised. Of course, now that there are more lambs on the market prices are not so high, and the cold weather of the last few days has somewhat checked the demand, -but if shipments arrive in good condition, and the market is not glutted, satisfactory prices' should be obtained for some time." The following are Messrs Fitter's quotations for New Zealand meat : — Canterbury sheep, 3d to 3Jd per lb ; Wellington sheep, 2£d to 3d per 1b ; .North Canterbury lambs; s£d to 6^d per lb ; Wellington lambs, 5d to 5Jd per lb ; hindquarters of New Zealand beef, 3£d to 3|d per lb ; forequ&rters, 2£d to 2£d. The CO. and D. Company write in much ihe'eame' strain, saying that for New Ze*land mutton there has been a better tone, a slightly improved demand, and greater numbers of carcases going into consumption, without reduction in values.

Stocks of New Zealand beef are light, but the CO. and D. Company say that there is probably iuffieient to meet the demands.till further shipments come to hand. Messrs W. Weddei and. Co. tell me that most of the New Zealaad. beef being sold is of excellent quality. DAIRY PRODUCE. From Messrs Weddel and Co. I learn fchafc the demand for New Zealand and Australian, butter has continued very good, end business has been brisk during the greater part of the week. Valuea have again advanced, and choicest brands have been bringing 102s to 106s per cwt. Some few sales of special brands iv small lots are reported at 108s. They continua: "It; is interesting to note that those agents, who before Christmas were the first to bring prices down and break the market: are now forcing prices to the utmost. This sudden change of policy is causing considerable comment; in the'-trade, which attributes the ueif .aoYemenfi to inspiration received from producers in. the colonies. It is a pity their iieal for high prices did nob begin before the closing weeks of the season." It is expected that about: 1111 tons of "New Zealand bubter will arrive in. March, as against a total of 732 tons from Australia, and Messrs Weddel say that this mcan3 that they will receive 518 fcons let* from A.ustralia,and 630 tons tuotelrom New Zealand than was the ca*e in March d last year. The cheese market continues dull and dragging. There is a quantity of Canadian on ths market being forcibly realised at . cheap price*,, owing to it not being according to contract, though it is thought that had the market been good it would not have been tejectod. The Gothic's cheese was landed in good condition, but "sales areelowaid prices very discouraging." MISCELLANEOUS. For New Zealand oats the demand has somewhat; abated, but prioet remain unchanged. There has been a slow trade in New Zealand beans, but holders are firm at late rates. The market for New Zealand flax is firm bub quiet. Good fair Wellington has been sold %b £16 per ton. Forward sales have been made at; about the same rstes as spot values. Quotations are nominal. Considerable business has been done in preserved beef and mutton and show an advance. Stocks are greatly reduced and this gives sellers more confidence. First quality beef is quoted at 5s 6d to 6s 3d per dozen 2lb tins. Mutton, of the same size tins, 7s to 8s per dozen. Low prices still rule for rabbits, but some fair s&lea have been effected. Compressed beef is dearer and there is a brisk deias-nd for it at 8s 9d per dozen 21b tins. T&llow is firmer and an active demand prevails in all positions. - At the last sales 1423 casks were sold out of 1561 offered, full piice3 being realised for mutton and an advance of 3d to 6d per cwb for beef. Some business is reported for tallow afloab from 18s 9d to 19s 9d per cwt, c.i.f., for beef and mixeJ, and 20s 9d to 21s 6d for mutton. The market for salted hide 3 is active, and ifc is anticipated that values will be fully maintained at the next auctions. There is nothing fresh to report with regard to rabbitskins.