NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2355, 13 April 1899, Page 6

NEW ZEALAND PRODUCE IN LONDON.

(Faoic Our Own Correspondent.) LONDON, February 24WOOL. This week the London wool market has been voiy quid. The only event of interest in tho trade has been tho opening of the second seriea of sales nt Antwerp. Messrs Baline and Co. say that according to advices recoived of ths firel and second sittings'thoro, competition was somewhat unsatisfactory, and that an -unusually large proportion— two- thirds, in fact-^. of tho quantities catalogued had beon withdrawn. This being the case, my informants lemark that it has been difficult to make an accurate comparison of existing pricos with, those current in Antwerp during January, but so far as can be judged they show no appreciable change from previous quotations, which wcro about on a par with the ra-taa ruling at the last London auctions. For tho next London series, 202,518 bales have arrived, of which 157,311 aro from New Zealand und Australia. About 59,000 bales from these colonies have been forwarded direofc to manufacturing districts. Tho list i 3 to close on the afternoon of Monday next. SEW ZEALAND iIEAT. Th.s week I learn from Messrs H. S. Fitter anti Sons that the demand for New Zealand mutton is improving, especially for primo quality ; in fact, Messrs Fitter say that they have continually to turn away orders for best sheep simply because it is impossible to find them. There is no doubt that this Inn think that the c.i.f. business has been one. of tha chief causes oi this deterioration in quality, aa a half-fattened coarse sheep is worth as mueli as the finest quality shoep of the same weight on paper. It is quite nnpossiblo to get high pricos for the new season Now Zealand lamb, Messrs Fitter tell me. They say that larga quantities from Australia aro still being placedon the market, some of which aro of very good quality, and it is yet very early in the season. However, as demand will gradually increase*, anl the supply of Australian will shortly probably slacken, hopes are entertained of better results later on, " especially if the supply ia not too heavy." According to this same hrm, quotations this week stand thus- Canterbury (New Zealand) mutton, 3Jd to 4Ad per ib; Wellington, 3Jd to :jjd. Canterbury lambs, 4^-1 to sid per lb, Southdown lambs, 4*d to 54 1 per lb ; Wellington, 4d to od por lb. Austral ian lambs are quoted at 3Jd to 4£d per" lb. New Zealand hindquarters of beef are down at 3^d to 4d per lb, and forequarter3 at 3d to 3id per lb.

Discharges from the lonic and Waimate of New Zealand mutton are progressing, and from the C.C. and D. Company I learn that tho discharge from the Waimate is being aided b/ an elevator, constructed on much the »ame lines as those which have been in successful operation at Nelson's wharf for nearly seven yeara. So far the results have been satisfactory, for discharge has been expedited, and handling and knocking about has been minimised. Trade has been ' steady, and prices generally fairly well maintained. Present moderate stocks seem to warrant higher values, for not only aro stocks of New Zealand mutton ; light, but those from Australia and the itiver Plate are also light. In the opinion of the C.C. and D Company the continued ruhrketing of stale and ofT-colour mutton prevents tho rise that otherwise would have come off. " Good Canterbury shoep are inquired for, bufc aie almost unobtainable; a parcel of good weights and favoured brand made- 4 1-Gd per lb, others have sold from 3Jd to 4d per lb -for the best offering, many being of indifferent quality." There is as yet little life in tho New /pidund lamb trade. The colder weathe* of the last few days has not tended to increase* the consumption of lamb. Many of those from the North Island, say the C.C. and D. Company, have been exceptionally good, both from Wellington and Napier, but pricos realised this week and last — about 4d per lb — have been far below their ret>l value. Canterbury lamb haa sold at about ljd to 5d per lb. ltcferrmg to New Zealand lambs, Messrs Wcddel say this afternoon that the top price (or the best from Canterbury is no more than 5d per lb, while sales are being made down to 4J.1 per lb " Many of those nailing from tha North Island are intrinsically worth more than some of the Canterburys, and for these up to 5d per lb has been made. The quality of th* new season's lambs, taken as a whole, is very good, and compares favourably with that of early arrivals of former yeara. This in particularly co in the case of North Island lambs, the bulk of which arc excellent." • MISCELLANEOUS. Business W Wn slew in 2£qp ZttisaS

oeans, and quotations are nominal, as there are no supplies on the market. — Messrs "Weddel report that the New Zealand Box market is quiet but firm at about previous rates. Some forward business haß been done for shipment at £19 10s for February-March, and £18 10s for March-April. A parcel of Wellington now landing fetched £21 (c.i.f.) For preserved beef and mutton a good, Steady demand prevails at full rates. Firmness has characterised the tallow market. At the auctions of the 22nd inst. a good demand was experienced, and 618 casks were Bold out of. 856 offered. Messrs Weddel say that prices realised showed an advance of 3d per cwt on previous rates. Business on the spot is to some extent restricted owing to the offerings affording only a limited choice to buyers. A firm market is anticipated for some time to come in view of continued light shipments from the colonies, and small offerings of Home-melt. America is said to be the oniy uncertain factor, and improved prices, here will tend to draw supplies from that quarter. The provincial markets are not so strong as London, Messrs Weddel note. Business on a c.i.f. basis is also somewhat restricted as shippers' ideas are above what buyers are disposed to pay. Some sales, however, have been made of shipments afloat or close at hand, fine mutton realising 23s 6d to 245; good beef, 22s 6d to 2Gs '3d; and inferior quality, 21s 3d per cwt (c.i.f.) DAIRY PRODUCE. By Messrs Weddel and Co. I am informed •thai the demand this week for New Zealand vnd Australian butter has been very sluggish,, and though ' there is weakening in values, it is said to be el-ear that buyers have been holding off in the hope of a fall, " but there%are evident signs that they will soon be forced to ?juy again, though probably only on the hand-to-mouth principle. There is a good demand for butter, which can be retailed at Is per lb, but it is very difficult to supply it. The low priced New Zealand butter, Messrs Weddel report, at 90s to 94s has brought keen disappointment .to many buyers who secured it for ihe Is retail, as its keeping qualities have been found defective, and some purchasers have had to resell it for confectionery purposes as it was unfit for a counter butter. The value for choicest New Zealand and Australian butter remains at 98s to 100s, with 3s more for " fancy," and " finest " also continues unchanged at 9is to 965.

There is more tone in the cheese market than was the case last week, and there are reported to be indications of a revival shortly, though values remain unchanged at the present.