NEW ZEALAND PRODUCE IN LONDON. (From Our Own Correspondent.) LONDON, January 21.

Otago Witness, Issue 2660, 8 March 1905, Page 30

NEW ZEALAND PRODUCE IN LONDON. (From Our Own Correspondent.) LONDON, January 21.

Last Tuesday saw tho opening of the first seriaa of colonial wool sales for the current year. At the ogening sitting the catalogue

. composed 6887 baitesj 1164 having come from iNew Zealand. I hear from, Messrs Charles Baline and Co. that the attendance of buyers was large, and competition, both for merinos and crossbreds, was animated. The selection brought forward, although somewhat smaller than usual, was of a- thoroughly representative character. Merino wool, in average, realised the- ratea current at the close of the November auctions, tha better greasies and scoureds running in favour of sellers, while faulty wools and wasting greasies. sold somewhat irregularly. Prices for fine and medium crossbred produce were practically tmchanged, while the coarser grades occasionally made a alight advance. The position of South African wools was not materially varied. The net available supply for the series, including old stock (consisting of about 1000 bales Australian wool), totals some 146,503' bales. Of the new arrivals 34,721 bales came from' New Zealand, less amount in transit, 6000 bales-. New arrivals have included 45,206 bales from New South Wales, 41,451. bales from Victoria, and 13,224 bates from tho Cape. *So far the result of the auctions has not materially varied the range of the values ctirrent in- Noveinbea: last either for , merino or for crossbred produce, Messrs Balme fuither remark. The tendency of the market generally, however, is distinctly m favour of sellers. Prices for the better grades of merino, both sc-o'ared and greasy, rule fully up to and occasionally slightly exceed the previous quotations, while faulty descriptions and greasies ' of doubtful yield are not appreciably dearer. Fine crossbred wool, as well as the medium growths, comaniands last series rat-e3, while the coarser qualities generally realise id per lb above*that level. The position of scou r ed and aliped parcels have not perceptib'y altered. ThL* reason's clip from. New Zealand is in exceptionally good condition. The wools are ! wel? grown and even lighter in grease than was the case last year.

Referring to the opening of the current series of wool sales, the New Zaaland Loan and Mercantile Agency Company tell me that com-

petition w.is very animated ou tho rart of Home, Ou3itinpr>ta,l and American Li>ers the last coufinir-sj their ope»at:ons chiefly to crossbred pioduce. Merino was in strong lequest at prices generally m sellei-s' favour, good, scoured., and light-condit'oned parcels m the grease frequently niling 5 per ccut. clearer. Fine and medium crossbred wools v\ ere very film, while coarse ar.a greaeics, as compared with the closing ratea of the November sa'es, E-howeU, an advance of 5 per cent. Owirg to the prevalence of fog no sales were held on Thursday. . The National Mortgage and Agency Ccmpsuiy write " lhe merino wools in the grease were in stiong request on accou.it it both Home and foieign buyeis, at prices fully equal to those hi. ing at the close of the Nove Tiber auctions, and occasionally slightly above those Scoureds were also very firm at an improvement of par to 5 per cent. Crcssbreds met a most excel" ■•at market, and showed an allround improvement of par to 5 per cent, as compared with closing November figures, the rise being most pronounced in the case of coarse descriptions." For the second series, to open on March 7, 35,510 bales are now to hand.

NEW ZEALAND MEAT,

Messrs W. Weddel say that only 23,000 carcases of New Zealand mutton have anived during, the past fortnight. Notwithstanding the pmallness of stocks, the continued slowness of the demand, and cheaper River Plate mutton, have combined to drag down prices of New Zealand descriptions to the extent of ftd per lb. The bulk of the Canterbury sheep now offered have been held in store for a considerable period, and cannot be quoted at more than 4%d to 4fd for best weights, and 4j|d for large carcases. There" arf no Southlard or Dunedin sheep offered. The Wellington Meat Export Company's brand realises 4§d to 4]sd par lb, according to weight. Other North Island sheep are sold at from 4Jd to 4gd per !b. Ewes are not plentiful, and are quoted at 3|d to 3|d per lb. Only 392 car-ca-fes of New Zealand lamb have arrived during the past fortnight, against 91,000 carcases from Australia and 12,000 carcases from the River Plate.' Messrs Weddel write that the comparatively heavy supplies of Australian iambs, and the irregularity in the quality and grading of a large proportion of these, have a very depressing effect on the market. Sellers of ordinary to plain quality lambs are numerous, and the low rates accepted for these descriptions h&ve inevitably dragged down values of t-he relatively small proportion of prime larabs ,avaiil»b!e. A few new season's New Zealand iambs have arrived from- the North Island, and these have realised as much as 7d per !b. Top price fcr the*.Australian " Champion" brand is given as 5Jd fo sgd per lb Notwithstanding the smallness of supplies, quotations for New Zealand b&ef are weak at 2Jd per lb for forequarters and 3!d to 34d per lb for hindquarters.

It is remarked by the New Zealand Loan and Mercantile Agency Company that . with a very weak demand for ail descriptions of mutton values have declined, particularly in th& case of Australian and River Plate sheep*. A few new season's North Island lambs are being offered at Smithfield, and up to 6fd per lb Us being realised. Owing to large arrivals of lambs from Australia, values for prime carcases have declined id per lb. For the past three weeks arrivals of New Zealand mutton have totalled some 85,300 carcases. Messrs Gordon, Woodroffe, and Co.,^n their report, remark:— "The fact must no'Fbe lost sight of that year by year the quality of Plate mutton goes on improving, aud the sheep are much more economical to the butcher than most brands of New Zealand sheep, as the> are not too fat, and there is little or no waste in cutting up. Consequently it is xo be feared that when New Zealand sheep are quoted at high prices the consumption will be more materially decreased than in the past. This is much to be regretted, but cannot be lost sight of, and consequently a shortage from New Zealand is not likely to have so much effect on London markets in future. There is little or no business doing in New Zealand hard beef. A few sales have been made forward at from 2|d to 3d per lb for January shipment, but forward business has been completely stopped by the Plate companies selling" their beat frozen beef weighing 1601b to 2201b at 2!d, c.i.f., London, monthly for three months, commencing February. New Zealand hindquarters are quoted at 33d to 3Jd per lb, and forequarters at 2gd to 3d."

DAIRY PRODUCE,

The New Zealand Loan and Mercantile Agency Company state that during the earlier part of the last three weeks the inquiry for finest New Zealand and Australian butter ruled quiet, and values receded 2s per cwt., but latterly, with a firmer tone, the decline has been recovered, and at the close holders are endeavouring further to advance prices. There is a good demand for secondary butter, supplies of which are in small compass. "Finest" New Zealand butter is quoted at 100s, finest Australian at 98s; and secondary at 90s- to 94s per cwt. A steady demand has been experienced both for home and Canadian cheese; for New Zealand make there has been a fair inquiry, and for the small supplies offering up to 523 per cwt has been realised.

In regard to cheese, the New Zealand Mortgage and Agency Company note that the trade just at the moment is rather slow, but holders mostly being firm there is practically no reduction in the prices. The quality of the New Zealand cheese this season is very nice, and there is an improvement on the early arrivals of last season ; the supplies that have come to hand up to the present have all been cleared; the quotation given is 535 ; Canadian is quoted at 53s to 545.

MISCELLANEOUS,

The New Zealand Loan and Mercantile Agency Company reports that there is very little demand for cocksfoot, and, with lorge stocks on hand, and America offering freely, prices have a downward tendency ; 181b bright seed is quoted at 51s, 171b bright seed at 49s 6d, 161b medium seed at 48s per cwt, ex warehouse. There is a fair demand for oats at about late rates. There is a very dull market for beans, English offering at low prices. Blue peas are- difficult of sale, but Partridge peas are a little more in demand owing to homegrown not being so freely offered as of late, so those from New Zealand are now quoted at 30s to 36s per 5041b.

It is stated by Messrs Gordon, Woodroffe, aud Co. that a small parcel of New Zealand barley for malting was recently sold at 25s 6d, liut most of the New Zealand barley here is black-ended, and only fit for chicken food, and worth about 245. There is still no linseed here. Supplies of New Zealand oats are not heavy, but there is only a retail demand, and English oat 3 still control the market. The Natioi'ttl Mortgage and Agency Company say that the market for New Zealand flax has been very quiet during the past three weeks, and latterly, owing to the decline in Majiila business has been impossible except at a or-usiderable reduction in price. The sales amount only t-o sbout 100 lons. Spot and in dock at £30 ss. January-March ar a more distant positions are nominal at abotit £30 to £29. Tow is U-qiured tor at about £iO, but there is none offering. Sisal is quoted at £34 per ton (c.i.f.).

For frozen rabbit* 1 hear from the National Mor^jpge and Agei.cv Company that theie has been a iau rlemnnd. and ccnsideraole Lumbers aie <=tiil gom? lr'o consumption. There is no quota be improvement m price, but it would ii;,pear piobable tlirt old stocks will be cleared before the new reason's arrivals from Austia'ia com" to hand. Arrivals have been 11,583 cases from New Zealand, and 10,160 cases from Atutialia

At the fi. :t series of sales of labbitskins for tha current year, the offerings totalled 1954 b3lcs of \ew Zealand and Australian skins, and, with a steady demand, 1916 bales were sold. The collections were chiefly of fair to good season and outgoirg skins. New Zealand contributed 427 bales. The better grades weze well represented, and met with a good demand, so I hear from the X.M. and A. Company. Best selected winter skins brought full values, while outgoing skins wc'e generally \d to Id per 1b dearer. Mixed parcels and low season skins wpie fairly steady, but light and suckers declined id to Id per lb. Black silver giey, and lawn, of furriers' quality, were in supply, but could not be sold at high rates late-Iy current

I heVir from Messrs W. Wedclel and Co. that during the past fortnight the demand for tallow has been very poor and prices have consequently gone substantially in favour of buyers, the only exception being fine white mutton, which, being abnormally scarce, remains unchanged. There is a good deal more Home melt about, and all other soap making materials, siich as cotton oil and linseed oil, are in very large supply, and selling at very low comparative prices. At the public sales this week 1401 casks were offered, but only 500 were sold at 6d per cwt decline from the previous week. To arrive, prices have also given way, and there is hardly anything doing in Australian sorts, offers of 43* good colour, mixed, passing unheeded, while the best South American beef is now quoted at 25s 6d per cwt (c.i.f.), which marks a decline of Sd to 6d per cwt. As 'regards the future the market is very flat indeed at the moment, but, looking at the strong statistical position, Messrs Weddel think it is hardly likely that prices will shrink to a further appreciable extent during the next month or so.

It is noted by the National Mortgage and Agency Company that imports during the past three weeks have included 1051 casks from New Zealand. At the last three .public auctions 3232 casks have been offered and 1259 sold.

I hear from the National Mortgage and Agency Company that no change has taken place in the market for salted pelts, d-urirsg the past three weeks. Supplies are small and must remain so until the new season's pelts come forward, and, with a very strong d-e-mand, prices for all classes are well maintained, and still tend to favour sellers. The National Mortgage and Agency Company say there was only a fair demand for basils 1 at the last saJes, when of the 6280 skins offered only 1379 weresold. Prices remain without any material alteration. Out of 393 hides offered for sale on the 12th inst. only 15 were disposed of. Sydney ex hides were not saleable at importers' prices, buyers being only prepared to operate at about §d per 11? decline. About 70 sfdes of New Zealand leather were sold at the auctions on the 13th inst. Prices remain unchanged.