ENGLISH PRODUCE NOTES.

Evening Star, Issue 12943, 5 May 1908, Page 7

ENGLISH PRODUCE NOTES.

| Our London correspondent, writing on | .March 27, supplies the following : j Wool.—The second series of London sales j commenced on the 17th inst., the total 1 quantities available being 201,000 hales. I There was a largo attendance, including 1 several American operators, but there was I a lack of spirit in the bidding, and as com- | pared with preceding sales’ closing rates > values marked a decline of to 10 per 1 cent, on merino and 10 per cent to 15 net | cent, on cross-bred. The course of the market since has been of a very unsatisfactory nature, the demand from the United h't'.tcs and the Continent being extremely restricted, while the bidding on Home account ha? been characterised by want of confidence, with the result that prices have further receded, white withdrawals have been on a large scale. In merino, tho best sorts of greasy have fairly maintained ilieir ground, but other sorts now rule about 15 per cent, lower, tho fall being most marked in the case of short-grown greasy fleece, pieces, and faulty descriptions of scoured. Crossbred has suffered to even a greater extent, and for coarse and medium grades the depreciation is now 20 per cent., anj sometimes more, competition for these sorts being very irregular. Fine grades are about 10 per cent, easier than in February, while lambs, both merino and cross-bred’, show a similar decline. Owing to the heavy withdrawals, a large quantity of wool will be held over, while a curtailment of the sales has been rendered necessary, the series, as at present arranged, closing I on April' 3. I Sheepskins.—At the auctions held on the | 12th afid 13th inst. the quantity offered i was very heavy, amounting to 6,700 bales I Australasian; and, with slow competition, | some 1,800 bales failed to find buyers. As’ | compared with the prices ruling at the pre- , ceding sales (January 16 and 17), values for | merino declined to |d, fine cross-bred ; combing Id, coarser combing 1-Jd. shorter ! growths |d, and cross-bred lambs Id to ; l£d per lb. For a few lots of shorn skins, (which met a special demand for Germany, slightly higher rates were secured. Tallow.—There has been comparatively I little demand since my last report, and ; prices mark a decline at tho close of 6d to Is per ewt. At the sales on 18th inst, there was a better inquiry, with the result that values appreciated 6d per cwt., but at the auctions on 25th idem a- Very dull feeling ruled, and the advance was lost, , The stock on hand—ls,B6o packages—is the largest for some years, and although this must not be taken too seriously, as a failproportion of this total represents purcliases awaiting shipment to the Continent, still the tendency of the market is all its , favor of buyers. In Australasian, for mj rival, offers from the colonies are above the ! market here, and practically the only busi--j ness done has been in second-hand parcels, jThc N.Z.L. and M. quote: Finest mutton, 132s 6d to 335; fair to good, 295-6 d to-31s;

edible beef, 30s to 31s; and fair to good, 28s 9d to 29s 6d per cwt. Frozen Meat.—Although, the trade passing in mutton has been quiet, owing to the small arrivals, holders have been able; to substantially raise prices, especially for light weights, Canterbury and North Island descriptions having advanced Id to |d, River Plate £d to |d, and Australian |d per lb. For New Zealand lamb, the demand continues to increase, but not sufficient to cope with the large quantities arriving, and values here ruled in buyers’ favor. Australian have been in request, and values for medium arid inferior qualities have lately advanced. Farr quantities of River Plate chilled beef have been offering, which have met a steady trade,, and for hindquarters more money has been obtainable. There has been but little business doing in frozen sorts, though with inquiry for hindquartets values ate slightly firmer, but forequarters at the close have a weaker tendency. Latest quotations: Canterbury mutton, 3jd to 4£d; River Plate chilled beef hinds; to 4-^d; North Island mutton, to 4^d; River Plate chilled beef fores, 3d to 3^d; Australian mutton, to 3^d; River Plate frozen beef hinds, to 3i|d; River Plate mutton, s|d to 3?d; River Plate frozen beef fores, 2Jd to 2|d; ewes, s|d to 33d ; New Zealand beef hinds, to 3J,d; Canterbury lamb, s£d to 6d; New Zealand beef fores. 2]d to 2-|d ; North Island lamb, 5d to s||d; Australian heel hinds, 3£d to 3jd; Australian lamb, 3|d to 4£d ; Australian beef fores, 2]d. New Zealand Hemp.—A moderate business has been piassing during the period under review at irregular rates. At one to, the, extreme- depression in the Manila markt, vafues fell £4 per ton, but since then with an improved demand "an appreciation has taken place, and at the close prices mark a decline of about £2 10s per ton. Latest quotations :—Good fair spot, £24 10s; March-Mav, £23 Ids; fair spot, £22 ss; March-May,' £2l 10s to £2l 15s; and fair current Manila, April-June, £23 5s to £23 10s per ton, c.i.f. Cocksfoot.—There has been a very quiet dmand, and prices tendd in buyers’ favor. Last week, however, large quantities changed bands, and up to 85s per cwt was paid for 171b seed, ex warehouse. It is understood this transaction was of a speculative character, as it is expected that owing to the small quantities of seed available for export from the Dominion high prices will rule during the coming season. Grain.—There has been a dull and inactive demand in the wheat market, the very heavy shipments afloat causing buyers to adopt a conservative policy. At'the close a firmer tone prevails, as the conviction gains ground that America will not be able to continue to ship on the same scale as for some time past. In Australasian for arrival little is doing, as prices in the Commonwealth are above the market here. Several second-hand cargoes have recently been sold for the South of Europe at 56s to 36s 6d per 4801b, c.i.f., and the latter price is being asked for a February bill of lading with buyers at 36s 3d. A quiet tone prevails in the oat market, with prices tending in buyers’ favor for the common descriptions, but the finer qualities are firm. Beans and peas are neglected, and quotations are nominally unchanged. Tasmanian maple peas are difficult of sale, and prices tend downwards. A parcel of No. 1 quality new crop has been sold at 55s per 5041b' c.i.f., London, but with no further buyers at this price. The N.Z.L. and M. ‘quote: Australian wheat, 37s to 57s 6d per 4961b ; New Zealand wheat—long-berried 56s to 36s 6d per 4961b, short-berried 55s to 55s 6d per 4961b; New Zealand barley, 25s to oOs per 4481b; New Zealand oats—Sparrowbdls 22s to 23s per 3841b, finest sparrowbills 25s to 25s per 3841b, Danish 18s 6d to 19s per 5201b; New Zealand beans (about f.a.q.), 31s to 52s per 5041b; New Zealand blue peas, 45s to 50s per 5041b; Tasmanian maple peas—First quality 58s per 5041b, second quality 34s per &041b third quality 32s per 5041b; Australian flour, 27s to 27s 6d per 2801b. Tow is neglected at £9 to £9 10s per ton. Butter.—Since my last report prices have, steadily declined, although for a short time values for New Zealand were steady at 112s to 116s. The quality of practically all the Australian has been most unsatisfactory, and consequently there is a conspicuous difference in prices between New Zealand and Australia. Although shipments from Australasia show considerable short *' age compared with those for last vepr, there seems but little probability Hint prices will again appreciate to any marked extent. Latest quotations: New' Zealand, 110s to 112s per cwt; Australian, 98s to 104s per cwt. Unsalted commands a premium of 2s to 4s per cwt. -