NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2565, 13 May 1903, Page 17

NEW ZEALAND PRODUCE IN LONDON.

(From Our Ov?n Correspondent.) March 27,

Last Tuesday saw the close of the second Bcries of colonial wgol sales of the current year. The series opened on the 10th inst. with an available total of some 167,000 bales, New Zealand being represented by 76,000 ba!es. I hear from Messrs Charles Balme and Co. that the total quantity catalogued was 156,466 bales, 4302 being from New Zealand. About 17,000 bales were held over, including 5000 bales from New Zealand. At the second eeries of sales last year the catalogued quantity was 156,029 bales (with 50,631 from New Zealand) and the quantity held over was about 11,500 bales (with. 58D0 from New Zealand). Of the quantity sold at the late series about 77.000 bales have been taken for export, including some 6000 bales purchased for sbin-

ment to America. From Messrs B?.lme anf Co. I learn that the unsatisfactory termination of the January auctions had a depressing effect on business in the manufacturing districts and impaired confidence in the stability of prices for. both fine and coarse wool. Yalups of the former, however, were fairly well maintained owing to the smallness of supplied this season although, so far as the Home trade is concerned, consumption is reported to- be on a smaller scale than in previous years. Aa regards ths latter, the sharp fall at the close of last series quite paralysed the Bradford market, and, notwithstanding a vigorous and healthy consumption, quotations foi "tops" declined. In these circumstances foreign, buyers have been the chief supporters of the market, the English section operating throughout with great caution. Messrs Bahne go on to say: "The position of merino wool was not materially altered at the beginning of the series, the better grades bsing rather firmer and inferior sorts slightly cheaper than at the end. of the January sales. Under keen- competition from German and French buyers, however, prices gradually hardened, and at the close luled in average 5 per cent, above opening values— the improvement being most pronounced on fine-haired greasy wool from New South. Wales and Queensland. " The finer descriptions of crossbred wool were not quotably dearer at the outset," Messrs Baline's. report proceeds, " but later on appreciated in sympathy with merinos, and ultimately stood 5 per cent, above January final rates. Coafcee qualities, although well, competed for, were 5 per cent, cheaper to begin with, and further weakened with the progress of the sales, until the" declino amounted to fully 10 per cent. This fall induced considerable purchases on French account, which had the effect of steadying the market, and during the last few days of the series prices reverted' to the level current at the beginning _o.f tha auctions. South African wools were from pal to 5 per cent, cheaper at the opening. . petition for light-conditioned greasies, however, as well as scoured descriptions, soon improved. On the other hand, demand for wasting greasies was unsatisfactory throughout the series." In conclusion, Messrs Balme write: — "The position of merino wools is exceptionally, strong. Prices for the raw material are -high, and, in view of the smallness of supplies and scarcity of old stocks, appear likely to remain so for some time to come, notwithstanding the difficulty which manufacturers are experiencing in obtaining a commensurate advance for. their products. The dearness and scarcity of merino wool is increasing demand for the finer grades of crossbred, both in England and on. J cha Continent— a fact which augurs well for' the course of values of this clas3 if wook-' As regards the coarse growths if crossbred, it is true that supplies from all sources are large, but consumption is well maintained, while confidence, which was shaken by the declina at the end of January, :s: s gradually being restored ; so that prospects are more hopeful now than was the case a few weeks ago." Messrs Balme enclose the following . prices now current for New Zealand and Australian wool in comparison with, the rates -of the previous series: — Merino in grease, average to good, Jd per lb Jearer; merino in grease, inferior, par to Ad per lb dearer; jnerina scoured, superior, M per lb dearer; merina scoured, medium, Jd per lb dearer; merina scoured, inferior, par to Jd per lb cheaper; merino lambs- wool, superior, Id per lb' dearer j merino lambs' wool, medium and inferior, Jo per lb dearer; crossbred gTease, fine, £'d to Id per lb dearer; crossbred grease, medium, par; crossbred grease, coarse, Jd per lb oheaper; crossbred grease ; lambs', Jd per lb dearer; crossbred scoured, fine, Jd per lb dearer; crossbred scoured, coarse, id per lb cheaper f. ~cros& bred aliped, fine, par; crossbred sliped, coarsa Jd per lb cheaper. The third series of wool sales for the current year is to open on May 5, the new arrivals being limited to 170,000 bales net— i.e., afteh deduction of shipments in transit. To data the gross arrivals are 97,216 bales, New Zealand being represented by 20,825 bales. 01 the total, however, some 4000 bales of New Zealand wool have been sent direct to manufacturing districts. The remaining series foi the year are arranged to open on the following dates:— Fourth series, July 7; fifth, series, September 15; sixth series, .November 24. DAIBY PRODUCE. According to to-day's report issued by Messri Weddel and Co. the recent advance in the price of New Zealand butter has restricted the operations of buyers. The near arrival of tha Maori also induced many wholesale dealers to wait until her butter was available befon again coming on the open «■»«*■* 23w ifMßd

•jrrived yesterday — a day before she was expected. There is a weaker tone in the market, and prices are down about 2s per cwt on the •week. "Choicest" may be quoted at 104s to 1063 per cwt; "finest," 100s to 'iO2s. The Eimutaka has just left the colony with 12,400 iioxes of butter on board, and is due here at the beginning of May. Demand for New Zealand and Canadian cheese has slackened ihis week, although values have advanced afurther shilling per cwt.; and "choicest" New Zealand cheese, as well as " fine3t," is relatively Is below Canadian, whose top price for *' choicest " is 70s to 71s. NEW ZEALAND MEAT. This afternoon I hear from the C.C. and D. Company that arrivals of New Zealand mutton have been : Ruapehu, with 42,365 carcases; Niwam, 60,867; and Maori, numbers not available. Trade is not active, but a fair amount of mutton is going into consumption — sufficient at present to prevent accumulations in stores, — aud unless receipts become unduly heavy, output should keep pace with arrivals, as' at this season there should be increasing demand. Continental mutton is in short supply, and likely to be so for some time;, imports of States' mutton seem to have come to an end. Stocks of River Plate mutton apparently are light, and the present policy of holders dots not indicate any immediate great augmentation; that prospects of New Zi-aiand * mutton are not discouraging, despite the reported heavy afloats. Prime sheep continue very scfirce. Of the number of Canterburys that have come to hand of late, a very small proportion only can be characterised as first class ; the high values obtainable for carcases only passably good— up to ad per lb — show how few of the sort there are. Heavy Canterburys and others of plain, indifferent quality seem plentiful, but buyers of good-class meat have °reat difficulty in supplying their wants. North Island mutton this week is maintaining its value; for the best sorts are hardening. Good email sheep are far irom plentiful, and soil readily at 4d pei lb; 60lb carcases as a rule show lack of finish, and make about 3;d pei lb; heavier, 68lb to 72'.b, about 3Jd per lb. New Zealand Lamb.— 103,076 have arrived this week. Trade as regards numbers sold continues good, values showing s : gns of weakB2ES- at present not to any great extent, but as numbers landsd increase lower prices seem probable. Sales of Canterburys have been made at 5Jd to 6d per lb, the last occasionally only. North Islands have sold at sid to 5Jd .per lb. Frozen Beef.— Receipts are 3678 quarters New Zealand, 15.660 quarters frozen ; and Gl3B quarters chilled River Plate. Trade in hard l)eef has been almost nominal. A few quarters iNew Zealand have sold — hind-quarters at about 4id and fore-quarters at 3|d per lb. The market has been almost bare of River Plate frozen ; a few hind-quarters have lvade 4d per lb. Chilled has sold at 4Jd to Ud per lb for hinds, and 3id to 3£d pei lb for lorequarters, j

havo been offered. Prices for merinos and £ne erossbreda are higher by 5 per cent, medium croesbreds higher by 15 per cent., coarse crossbred* higher by 10 per cent. ■They also received the following cable from ■their head office, dated London, 6th May: — "Wool sales eoaiinue with, increasing spirit, and prices, have gained further ground. Merinos arid fin© erossbreds are at par to 2g per cent, higher." , Our cable on Thursday notify that at the .London wool eales there was an advance in nrices as compared with the March sales. The following are given as the March quotations for New Zealand vrool by Messrs 'Windeler and Co! : —Scoured : Good, 19d to 20d ; average, 17d to 18d. Greacy : Superior, Hid to 12d; average to good, lOd to lid; .inferior, B£d to 9d : crossbred fin*?, ll^d to 12d; do average. 9d to 10£ d: do low. 6d to 7d : do lambs. 6£d to 7£d. Slipe : Halfbred, lid to 12d; Lincoln, o|d to 7id.