SEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2685, 30 August 1905, Page 22

SEW ZEALAND PRODUCE IN LONDON.

(Prom Ora Own Correspondent.) "jONDON, July I*, woor,. Tha foiulh series oi colonial wool stfes o£ tho current year, which, opened on the 1 till inst., closps to-day. Messrs Changes Ealrne and Co. inform mo that ths quantities available), for the series were approximately 127,000 bales, New Zes.jand contributing 70,500 oale.s, v.hie Xew South "Wales came- next on tho catalogue v.ith 22,000 bales The total niuntsr of balo3 catalogued v;as 120,325 (G5,415 from jSTew Zealand), while aLout 11,000 baler? wire held over (including 6000 bales frcm New Zealand;. Last year for tho fo-mth series about 130,232 'la-lea were available (including Gi.637 bales from- New Zealand), and some 7000 bales we>ra he'd over (including' 2200 from the colony). Jlessis Balms inform me that o? Hi* quantity sole! on this. occ?sion abvuf 46.C00 brlos have b"eix taken iov expaii, iue!iit!ii:g some 7000 bales purchased for shipment to America. They report : "In consequence of the scarcity of the raw material wcol vahies have again hardenscl since the close cf the May auctions. A. oontinuaiiicc of tUti American demand for suitable parcels of Australasian and Eivcr Plato crossJrvecte, as well as considerable purchases of home-grown we old for the sams market, established a higher ia:ige of prices, in «pite of a contraction in the Kuiopean consumption of coarso wools; while some increase in the requirremci:ts of the users of merincs led, pries? to tho opening oi I he present series, to an appreciation in value 3, more particularly im the Yorkshire districts, where stocks were- practically exliaitsi.ee!. In these circumstances thei Home iracle has taken an unusually lea-gs pr^-< portion of the quantities catalogued. American buyers competed freely for the medium

*n<3, fljaer grades of greasy crossbreds during tho earlier .days of tho sales, but later .on seduced their operations considerably. At Ilia outsat, nierinos w«re in average" 5 per cent.

dearer, the improvement being most proiiouncod on the better cila-ss, <rf wool, white , fsuHiy and inferior descriptions div not command any appreciable advance. This scale oi quotations was maintained throughout tho

auctions, th* " tendency oi the market being

in favour of sailers for good -wools, while faulty au.il. inferior lots, particularly when in scoured condition, sold irregularly. - • Fine crossbred •wool h-as realised abo\it last series' rates. Superior lots, for •which the Americans paid extreme prices in May, have ruled 'somewhat easier, but on the other hand, wools falling short of this standard have made rather morp money. Values for medium crossbred woo] "in good condition wero unchanged to .begin •with, button a curtailment of the American «Tem*ad declined! Jo the extent of 7£ per cent. Heavier lots of tiie same quality invproved 5 .per cant, at tho' opening, but subsequently ■weakened, and at tn« close are not qu.ota.biy dearer "than in .May. -Coarse-grades appreciated 10 per cent, at the beginning of the series. This -advance, however, was not folly maintained," final rates being xtbt mark than,.?& per cent."*' hi excess of those previously, current. Scoiufers-'ancl slipes .Tahve met- with a good tlemand'iat'/frbm.'par ,tb S percent, advance for, the finer, and 7S-per cent, for the «oars-ir qualities. - * „ " Airong' South African wools,' prices ,for . combing greasies in good condition have risen. 5 per, cent. Snow-whites, cs well as scoured-s iia'dvwastiEg greasies of gocd length, hay© also. ' improved to a slight extent. The demand for 1 short stapled greasies, however, especially whesi in' 'poor condition, has b&en very wnsatisfactory. " The position of the wool market at present x&. most- perplexing," remark Messrs Balme in conclusion. v CitlcutUutions based on supplies iox* the next' few months suggest the probability of an* -even higher rainge of values at the September sales, when tbs quantities available are not expected to .exceed some 60,000 to ' 70,000 bales The European trfcde, however, appears to be so harassed by the high rates now mling fc-r the raw material, and the difficulty manufacturers e&perience in obtaining adequate prices for their goeds is so great, that—it is possible -values may not further advance although any appreciable modification of the present quotations, more particularly for merinos," sSeems unlikoly." As compared with the closing rates of the previous etiies, -Messrs Balms quote the following figures for New Zeailand and Australian wool: — Merino, in gTease, superior, id p&r lb dearer (current price Is 2|d to Is 5Jd naer lb) ; merino, in grease, averaga to good, Jd to Id per lb dearer (current price 11-Jd to Is *2d); merino, in grease, poor condition, par x o Jd per lb dearer (current prioa.7fd' to lid); aiieriuo, in grease, inferior pieces and locks, par to Jd per lb dearer (current price 3id-.ta Sd); merino,, scoured, superior, -, Id per lb' dearer (current price Is llidjjto 2s 2d) ; merino, scoured, average , to good, Id to l|d l.per lb

tlearer (current price Is 7£d-tq Is .lid) ; merino*, scorned; inferior, par to |d per 5b dearer (current price Is ~o|d -to Is 7d) ; merino, scoured, aaulty pieces and "locks, pax to Jd per lb clieaper (current price 7?jd to Is); merino, lambs' v-001, in grease, superior, par (current price lid to la 3d); " merino, lambs' wool, in grease, medium, par (current price 7£d to IOJd) ; TOiaino, lamts' wool, in greas*, inferior^ par to |d per lb cheaper prico 4|d to 6<fd); crossbred, In grease, fine, par (current price ll|d to Is 3Jd); crossbred, in grease, medium, light condition, Id per lb cheaper (current price Is ■to Is 2d) ; crossbred in grease, medi/uan, heavy condition, par {current price 10k! to 11 £d); crossbre-d, in grease, coarse, id to Id per lb dearer (current price 9id to Is 0|cl) m crossbred, in grease, inferior pietces and locks, §d per 'b dearer (current price 5d to S|d) ; crossbred, in grease, lambs, Id per lb dearer (current price &id to Is Id) ; crossbred, scoured, fin«, \d per lb dearer (current price Is 54d to Is 10|d); crossbred, scoured, ineditun, par (current price Is 2d to Is 6§d); crossbred, scoured, coar£? ; . Scl per lb dearer (current price lid to Is 3§d) ; crossbred, sliped, fine, £d per lb dearer (current price Is to 1» 4%&); crossbred, sliped, coarse, Id to Id per lb dearer (cxirrelufc price lOd to Is 2d). 'The fifth series of sales will open on the iStti^ September, and the .sixth on the 28th November, th'a ]isti of arrivals "being closed at 4 p.m. on this lltb September and 20th November respectively. To date {he gross arrivals for the fifth ' series total 14,856 bales, including 6168 balea from New Zealand. The next sale of -vroolled sheepskins will taike^ place *m the 17th August. NEW ZEALAND MEAT. I am told by Messrs W. Weddel and Co. that the arrivals of New Zealand mutton for the last fortnight amount to only. 35,000 car- (

cases, as against 65,012 carcases fo? the- previovia two weeks, and 107,209 carcases in the fortnight b&fore that. The new arrivals have been brought by two vessels, the bulk of whos3 cargo is not y*t available. Notwithstanding the /curtailment in the arrivals, there is as yet no indication of any improvement in values, and there is really no change to record. There is, however, a slightly firmer tone in tho market fcr River Plate mutton, and this, together with the shorter arrivals from N«w Zealand, should have a tendency to harden values somewhat all round. Canterbury sheep under 56:b a.re scarce, and realise from 4^d to 4|d p«r lb, but larger weights are not readily sold even at from 3jd to 4J& per lb. Quotations for best brands of North Island mutton range from 3£d" to 4{a p"sr lb ; ordinary quality _sheep selling at id. per 2b below these figures. Ewes aro realising 3d to 31d par !b, according to 3izc. Importations of lambs have been very moderate, and have included 55,000 carcases from New Zealand. Th&re is a steady demand for this moat, and, n>s' the statistical position of / istocks .and arrivals is./ quiteu sound,- itessrs Weddel say that several , holders are making sales a.t''what would agpear to be unnecessarily •low prices^ In view of this, a meeting of th« principal importers was called la3t week, with, tho objsct or arresting the downward ■ coursa of "prices. At' the meeting'it was-generally*ad-mitte-d th,at- tho. ■existing weakness was not warranted,\ai2d it was sigraed that, values should be stiffened up. One or two consignees are still selling *t cheap rates, however, thus -to a great/ extent discounting the efforts of tlio bulk .of importers to put quotations on a higher level than - they -at present occupy, Canterbury lamba, undsi 1 361b, are quoted at sgd to s?d per lb; tih>? Sffb to 421b grade at s|d to 51d said tegs at 4^d. Southland and Dunedfn lamb 3, undor 42ib, realise up to Bid, and tegs 4Jd per lb. Noi-tb Island lamb-a realise s.id to 5Jd, tegs being offered at 4Jd par lb.

The C.C. and D. Company report tha arrival of the 8.8. Gothic -with 15,659 caxcases of New Zealand! -mutton, and the b.s. Paparoa with 21,172 carcases. - Trade continues extremely slow, and -there is little change- to bs reported. Canterbury sheep are remarkably scarce, and few transactions aro recorded at the current quotations of 4d per 1b for heavy sheep, and 4Jd for medium-weights, with beat sheep of ilight weight at 4Ad. There is at lest some indication 'of a better tone in the value of North Island slieap, which are not now being sacrificed so cheaply, and sales of which are not pressed. For light carcases of good quality, which 'are scarce, 4|d per lb can be marie readily. Medium-weightB are. held for %ld per lb, and the lowest price accepted far heavy sheep is- now 3|d per lb. Supplies are so moderate that there still aippears room for a further small advance in the value of tbi-j description. Although quotations show little change, the C.C. and. D. Company say that lambs are certainly -weaker in value, and the demand leav.es something to 7je desired. Xtight carcases are very scarce and nxaintsun their value, but medium-weights are plentiful and difficult to sell. Canterbury lambs are quoted from s|d to sid.per lb, and NortS Island lambs at 5Jd to s§d per lb, according to weight. Tags are scarcely wanted; and do not command mord than 4|d per lb. Stocks of lamb have been increased during the week by 55,373 carcases from New Zealand.