NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2667, 26 April 1905, Page 21

NEW ZEALAND PRODUCE IN LONDON.

(Fitosi Ovr Owx Correspondent.) LONDON, IVlarch 10. WOOL.

T!ie second series of colonial wool sales of the picsc^t year opened on Tuesday with, catalogues tctalhng 11.953 bales, mcluch'jg■ll263 bales oi Xew Zealand wcol. There was a, laige attendance ox buyers, but competition was somewhat wanting m animation. Piiceo n.r menro prcdiice luled from p<>r to 5 per cent, below those picMously cnric.it, the fall being mo-st pronounced on inferior and laulty ict«. for which the demand was lestiicted. Fine cioasbied wool sold at a dec Hap ot irom par to 5 per cent, on last sales' closing rates, while the medium and coarse qualities weie from 7\ to 10 per cent, cheaper. For the £>cne=, ihe iota! available "-upply of wcol, mc i, ding pome 50QO bales oi o^c"! stock (500 being New Zealand) i, about 170 SUO bale?. Wilting ti me to-day m time for the outgoing mail, lies-is Balire >-.py : "The developments m Russian, internal affair- cl.ring the past ie-,\ weeks have had a piejudicial mfluenco on the wool maiket. Not only has German tiade v, th Russia b°en materially curtained, but Birdioid has ?! = o experioncecl a decline la iljo IJii^~. an dcmaiid ior cros-yrcd yarns, vliJ] under i.oixj-ttl coadition*. i« c£ considerable importance. Fortunate!}', the Hade genera'iy is in a tomul condition, and should coii■=Louently bo ?hle to abscib iho available supplies of both lr.cimo and cio--bied wool*, in "-1 ite oi the possibility oi bunnies'- m Kn-si.i umaimur disci s^ain-ed for a 'lengthened penoci. Ihe =.i:o loom is v, ell attended, and comiTetiaon ]<- somewhat more ani'iiated aiul general than it. +he outset of tli3 ?eric= alihc/rgh \n ces .no not actually firmer. Mnmos iv average in c 3 per cert, below Januaiy c'osmg iate=, tho better soits shewng but little change, while on inferior and faulty clr..-»es tLc :a\l amounts to irom 5 per cent, to 1\ per ccat. Valuer for the fincbt ciossbitcls are also closely up to the picious level.

but all ether grades, langing from 50s quality dewnwai'da, are from 71 psi cent, to 10 per cent, cheaper than m January."

In view of the recent somewhat unsettled state of business, both in this country and on the Continent, it was surprising to find a large and representative body 01 buyers in pUer.dauce for the opening sale, when catalogues comprising a <,ood all-round selection v ere brought forward, write Messrs W. "Weddel and Co. The competition for merino woo! was rather irregular, this report states, for while the Continental firms bought readily anj, parcels of gocd condition or qttality at prices fully equal to last January rates, faulty descriptions were neglected and sold at quite £ per cent less money, a - acl especially wa<j this the case with liurry-stained scoured lots. Cicssbiods met an excellent demand, continue ilesprs Weddel. The better class of the fine qualities went at abaut last sales' rates, while medium and coarse grades showed a decline of 5 per cent, to 7\ per cent., the medium sorts being the class to suffer most. Slices were, barely represented. These iesuH=. a 'though unsatisfactory in so far that lower inces are fcithcomirsg for rcost descriptions, =re reassuring, m that the talk m certain quaiters of a slump in prices has not been realised, and the general Tone of the bidding for all crossbred wool points to the belief that the refccu.id from the top rates has been exaggerated during the last three- weeks.

DAIRY PHODTTOE

Messrs Weddel write to me that the market for iSJ'ew Zealand and Australian butter keeps firm, and some holders have made an advance en last week's prices of Is to 2s per cwt. for the former description. The market fo^ Canadian mid Xew Zealand cheese is strong-, and an. advance in price has been made foi both claspes.

NEW ZEALAND MEAT

Arrivals of New Zealand sheep for the fortnight tobal some 73 000 carcases. Messr:. Weddel sa\ there is a slight improvement in the demand for small sheep of good quality,

fcut the inquiry for medium-weight and heavy Bheep remains slow, and the position of the market as a whole is not very satisfactory. Cheap chilled and frozen beef is ot present anore rerun; nerative to butchers than is mutton, and they are not unnaturally pushing the sale of beef and. correspondingly neglecting mutton. Canterbury mutton of light weight i«alises 4id to^4i|d per lb; the heavier grades sell at 4d to 4Jd per lb. Southland and Diincdin sheep are off the market. Best North Island brands are quoted from 3gd to 4Jd per lb, according to size, and ordinary North Island sheep at 3Jd

to 3id per lb. Ewes are offered at 3d per lb. 'Arrivals of New Zealand lamb are increasing, and have amounted to 53,000 carcases for the fortnight. The receipt of only 30,000 from Australia during the same period shows a marfeeo! falling off. With large numbers of New Zealand lambs arriving, Messrs WedcleL, tell me it was found impossible to main tarn quotations. An all-round drop of £d per lb has taken place; but, even with this reduction. frice3 are -still sufficiently high to check the expansion of the consumption in some branches of "the trade. Canterbury lambs, under 361b, realise 6Jd to G^d per lb, and the 361b to 421b grade sellers at 6d to 6Jd per lb. Other Naw Zealand lambs are quoted from 5Sd to sgd per lb. Only 4000 quarters of New Zealand be-sf have been received during the fortnight, but imports from the River Plate still cd-tinue heavy and the prices low. Sales of Ne.w Zealand beef are so few that quotations »re nominal. Eiver Plate frozen beef is selling at 2£d to 23d for forequarteis, and 2Jd to 2gd per lb for hindquarters of best quality, but jaicred stocks and veiry heavy quarters are being' sold at as low as 2d for forequarters and 2Jd per lb for hindquarters.

The C.C. and D. Company state that there have been no fresh arrivals of New Zealand, mutton during the week, and there is no r material alteration in price or demand to be reported. Canterbury sheep are quite unobtainable in any number. A few light carcases have been disposed of at prices up to 4Jd per lb. but heavy sheep sell at much lower figures, and the average quotation is not more than 4^d per lb. There are no Dunedin or Southland sheep on offer. North Island 'mutton is still in fair supply. Light sheep are now commanding 3^d per lb, and heavier carcases make SJd per lb. Ewes bave been plentiful lately, and are freely offered at 3£cl per lb. The discharge of recent arrivals of .New Zealand lamb has kept the market fully and it is to be noted that the demand has showa no perceptible Increase during the last week or so. Prices, however, aie distinctly weaker, and the best light Canterbury lambs cannot now be quoted higher ihan 6d per lb. A few from the North Island have been nia.king the same figure, but s|d is a. more general price, and secondary quality sells down to ssd per lb. Very limited business is being done in New Zealand beef, and prices are unchanged from the quotations current a rreek ago.