Bank of New Zealand Produce Circular.

Waipawa Mail, Volume XXI, Issue 3899, 18 May 1899, Page 4

Bank of New Zealand Produce Circular.

London, sth April. Wool—Tbe second series o£ Colonial wool sales which opened on the 7th March closed on 23rd March. Of 174,600 bales available for the Bales, about 162,600 bales were Bold ; 77,600 bales for Home consumption, 84,000 bates for the continent, and 1,000 bales for America, leaving 12,000 bales (which includes about 3000 bales of New Zealand) to be carried over for future realisation.

Merinos, which opened on about a par with January *Dd February rates, hardened in value as the sales progressed, and by the end of the first week they stood about 5 per cent dearer, some sorts being 7i to 10 per cent higher than at the commencement.

Fine crossbreds followed to some extent the course of the market for merinos, and they may be quoted 5 per cent dearer ou the average. Coarse sorts failed to make any appreciable advance and all through the series they sold at prices fully id per lb. below last sales’ rates, although after tbe first few sittings a little more' regularity was evinced in the competition bestowed upon them. Sliped wools, which were scarce, met with a fair enquiry, fine sorts selling at a substantial advanoe, while ooarse lots were Jd to)d per lb lower than in January.

Lambs’ wool was not much in evidence but the few lots which appeared sold readily at a slight advance. In regard to merinos and fine cross breds the outlook indicates that values will in all probability be maintained. Supplies show every appearanco of being smaller than usual, and with the present active trade in them it is quite possible that a further improvement may take place before the season is over, more especially should America require to replenish her stocks to any considerable extent within the next few months.

Unfortunately the prospects for ooarse cross-breds are still far from satisfactory. The markets in all manufacturing centres are glutted with this olass of wool and the excess of stocks is pressing heavily on some holders. At present there are no signs of any relief to the depression in the trade. Goods made from fine wools are still in universal favour to the exclusion of all others, and up to the present no fresh designs made wholly or in part from coarse wools appear to hare met with general favour.

Babbit Skins—At the Sales held on 17th Maroh, the small supply of 294 bales were brought forward and all sold. The competition was hardly so brisk as the previous sales, owing to there being fewer buyers present, but prices were well maintained. Occasionally an advance of and Id per lb was obtained, the lighter averages selling to best advantage. Pelts—lt having been decided in America that pelts are not liable to duty under the new Tariff Bill, the market here is firmer, and a good trade is anticipated after the Easter holidays are over.

Basils. —At the sales on 24th Maroh, 64,889 basils were catalogued. Of these 39,300 were disposed of. Heavy sorts sold at about our last sales’ rates to a slight advanoe, while the lighter kinds were jd and jd per lb dearer. Hides.—At the sales held on 23rd March, 13,610 hides were available, of which 5,150 were sold under the hammer. Prices were on an average about -y-d per lb dearer. Tallow—Since last report four public sales have been held at which 4,931 casks Australasian were offered and 1,925 casks sold under the hammer. An advance of 6i per owt was paid at auctions on the Bth ultimo. Since then no movement in values has taken place, and there is at present very little disposition to do business either on spot or forward. Next public auctions take place on the 12th April Shipments from Australasian ports during March are advised as 3,149 tons.

Butter.—The trade is not very brisk but as stocks are low, prices are being fairly well upheld. Best quality is worth 96s and 100 s and secondary 90s and 95s The home supplies will now be increasing and values are likely to decline shortly. Chee e —Canadian is scarce, which lias resulted in an advance in values. Finest qualities of New Zealand are quoted at 52s here, and at 54s and 55s in Glasgow, with an upward tendency. Rabbits (Frozen). —There is a good demand for all kinds in fur. Supplies of New Zealand are short and up till now only Bmall shipments of Australian have arrived. Large New Zealand are fetching lOd each, and young 7Jd and 8u each on the market. Wheat. —The weather during the past few weeks has been mild and spring like. This has promoted the growth of young wheat, which is looking well. The Easter holidays have to some extent interfered with the market for wheat, and the trade has been very quiet lately. Prices remain steady. Buyers still act from hand to month, and the demand is by no means brisk. English red is quoted at 26s to 27s and white at 26s 6d to 28s 6d per quarter. The nominal quotations for New Zealand are Long berried 30s to 31s, short berried 28s to 29s per 4961 b. Oat-.—The market for all kinds of feeding stuff's is extremely quiet. New Zealand oats are neglected, the prices asked being above what buyers are pro; ared to give. Beans.—There is only a small business in this article, prioes being, nominally 38s to 85s per 5041 b for New Ze land, OeokifoJt Seed.—There is an im-

proved demand and values are higher than they have been for Boma time past. Good sorts are worth about 45s per 1121 b ex store. Meat (Frozen). Mutton. The soarcity of prime quality enables salesmen to obtain satisfactory prices for anything really good. Among the best brands there are many plain sheep which the buyere object to. Owing to the shortage in the supplies of Australian and Argentine mutton small sheep are meeting with a ready sale. Lamb.—The season has now commenced and daring the past week the demand has been good, and stocks are smaller than they were. Athough prices are still low the prospects are considerably brighter than they were a month ago. Beef.—American supplies have increased and values of New Zealand are not quite so high as they were last week, but they are still above the quotations of laat month.