PRODUCE NOTES FROM LONDON.

Evening Star, Issue 11678, 10 February 1902, Page 2

PRODUCE NOTES FROM LONDON.

Onr London correspondent, writing on January 3, lays:— Butter. —During the earlier part of the three weeks which I have to review—> namely, from December 32 —the Australasian butter market had not recovered from ■the disorganisation produced by pressed sales, and, indeed, there was a further rccedence of 2s. 'Chen a much better tone supervened, and Ihe only obstacle to an appreciable rise : n values waa the pressing of sales, by some of the agents. At the end of the week choicest was making 104s to 106s, but the value of ordinary good parcels was only about 9Bs to 102s. During the Christmas week the market for Australian and New Zealand butter was nominal only. The Cuzco did not arrive in time for the butter to reach the market before Christmas, and as the Gothic’s and India’s cargoes bad gone into consumption there was nothing much on the spot to sell. Just before the holidays there had been a very good demand for New Zealand batter in the North of England, and sales were freely made at 108s on the Liverpool market. This week, notwithstanding wet and stormy weather, a firmer tone has been evinced, and prices, while not auotahly higher, have been steady. The supply of uusnltsd continues to be in excess of the limited outlets for this descript-ion, with the result that :t realises less money thsvn salted. There has been an improved demand for butter to retail at Is per lb, and supplies of Russian, Irish, and other butters in cold stores have in consequence been materially reduced, and are now in comparatively small compass. To-day choicest is making up to 106s, hnt ordinary good is selling at from 98s to 102s. Grain.—The market for wheat has well maintained the steady tone existing throe weeks ago, and sellers are very firm, although at the moment there is practically no business passing owing to the interruption of the Christmas vacation. The fall-ing-off in shipments and the stability of markets in ihe United (States have had a steadying influence, but conflicting reports continue to be received as to the condition of the crops in the Argentine, which will probably bo the chief factor in determining the course of values in the immediate future. English wheat is in short supply, and the average price last week was 27s 7d pee 4801b, against 26s 4d a vear ago. Colonial wheat on the “ spot ” is tirmlv bold, while several cargoes of Australian have arrived off coast, but owing to the holidays starcely any offers were elicited, and eventually they were withdrawn. The present value of Australian cargoes afloat is about 30s 3d. while 29s is said to be obtainable for parcels. Several parcels of New Zealand have been sold, c.iJ,, :,t prices according to the sample, but nothing has transpired in carcots. New Zealand oats, which are in small compass, are firmly held, and very little business is being done. For New Zealand barley there is no demand to speak of, the quality still being aginst its sale. Present values according to the Loan and Mercantile are as under: —-Australian wheat,, 30s to 30s 6d per 4961b; New Zealand wheat (long-ber-ried), 29s to 29s 6d per 4961b; New Zealand wheat (shorUberried), 28s 6d to 29a per 4961b; New Zealand barley, 26s to 28? per 4481b; New Zealand oats (fine), 25s to 26s 6d per 3841b; New Zealand oats (common), 20s 6d to 2ls per 3201b; New Zealand beans, 35s 6d to 36s 5d per 5041b. Tallow. —Since my last report on December 12 there has been only one public sale of tallow —namely, on the 18th. There was then a good demand, and prices were generally 6d per cwt higher. Since- these sales the" market tns been firm, but business has naturally been restricted owing to the holidavH Some finest New Zealand mutton has found a buyer at 56s per cwt, being an advance of Is per cwt on the public sale price, and the New Zealand l-/oan and Mercantile now ouote (on tho spot) 53s to 56s for fair to finest mutton, and 52s to 52s 9d for fair to fine beef, whilst edible sorts are still 54s to 56s per cwt. In ‘to arrive” little has been done, as quotations in tho colonics have been advanced too much. As regards the future course of the market this largely depends on the extent of the Home melt (usually plentiful just now), but so far there are no signs of any material increase. Lard is the other important factor, and while the price of this article is now very high, it seems likely to remain so. The "stock in warehouse on the Jlst December wa5.6,489 casks, as against 4,892 casks at the fcttf of November. ’Hemp.—During the earlier part (d the period inder review, in sympathy with Manila, New Zealand met a dragging sale at easier rates, but during the last few days the position has materially improved, and with an active inquiry prices have recovered ?_os to 20s per ton. The quantity sold aggregates some 250 tons, the most recent prices paid for good, fair Wellington, being as follow: —Spot, in warehouse, £34; Oc-tober-Deeember, £35 10s; January-March, £32 10s; while for April-June there are buyers at £3l per ton, c.i. f. Stock amounts to 258 tons, as compared with 1,55? tons last vear.

Frozen Meat.—During tlte past three weeks trade generally for all descriptions of frozen mutton has been dull, the dtmanji being restricted, no doubt principally owing to the changeable weather experienced, while values remain practically unchanged. Prime Canterbury mutton is to-day worth from 2s Id to 2s 3d, Dunedin ;uid Southland Is lid to 2s 3d, North Island Is lOd to 2s, and Australian Is 9d to Is lOd per stone. In lamb there is no change to report, and very little c.i.f. business has as yet been done. Prime Canterbury is to-day quoted at Smithlield at from 5s 2d to 3s 3d, Dunedin and Southland 5s to 3s 2d, North Island (none), and Australian 2s 8d to 2s lOd per stone. A good business has been done in prime New Zealand beef, and prices show a slight advance, but Australian lema-ins dull of sale. Prime New Zealand hinds are worth from 2s 9d to 2s lOd; fores, Is 9d to Is lOd; Australian hinds, 2s to 2s 2d; and fores, Is 5d to Is 6d per stouc. A weak demand has characterised the market for frozen rabbits for some time past, but arrivals being light, values have not been affected. Prime New Zealand large-furred are to-day worth from 9d to 9jd; young, 7id to Bjd; small, to 7|d; and Australians, about -jd less all round.