PRODUCE CIRCULAR.

Hawke's Bay Herald, Volume XXXIX, Issue 12679, 12 February 1904, Page 4

PRODUCE CIRCULAR.

The New Zealand Loan and Mercantile Agency Company have received the following circular, dated London, January Bth: Wool. —The improved tone referred to in our last report has been well maintained, and values both for merino and crossbred, particularly the latter, rule in sellers’ favour. There has been some inquiry privately for coarse crossbred slipe and several parcels have changed hands at adavneed prices. The feeling throughout the manufacturing centres is decidedly more cheerful and prospects for a strong market at the forthcoming series may be regarded as promising, coarse and medium crossbred, it would seem, being likely to be favoured by fashion for some time to come.

Tallow.—Owing to the incidence of the Christmas vacation only one public auction has taken place since our last report. A fair business has been done between the sales at firm prices, but there being little inquiry either from the home or edible trade, there was a quiet demand at the sales on 6th instant, and whilst hard dull sorts advanced 3d to 6d per cwt., good colour beef and fine mutton were neglected. We do not look for any marked change in values in the near future, although it must be borne in mind that larger shipments will be coming forward from Australia than has been the case for some time past. A large business has been done in Australian for arrival about April on Russian account at 27s for hard mutton, and 26s for beef, c.i.f., London, but sellers now asking advanced prices, which buyers are not prepared to pay, business is at a standstill. Wc quote: —Fair to finest mutton, 27s 3d to 28s 6d; fair to good beef, 26s 6d to 27s 6d per cwt, ex warehouse.

Butter.—There lias been a good consumptive demand, but with considerable fresh arrivals and pressure on the part of some holders to sell, prices have receded, choice descriptions being now worth 98s to 100s per cwt. There seems no good reason why any further decline in the value of choicest should take place in view of the relatively high prices ruling for Danish,

Cheese.—New season’s New Zealand are being disposed of at from 50s to 62s per cwt, and it is generally anticipated that prices will not go lower. New Zealand Hemp.—Only a moderate amount of business has been passing, and with a poor demand prices are inclined to fall. We quote;— Spot £32 to £32 ss, Jannary-March £3l 15s, April-June£3l per ton, c.i.f.

Frozen Meat. —The demand for mutton since last report has been decidedly better, this in part being attributable to the colder weather experienced, and to the fact that it is now realised that stocks have ' been reduced to comparatively small compass. These improved conditions caused the Biver Plate companies this week to advance their quotation to 3|d per lb, and while it remains to be scop whether this position can be maintained, the immediate effect has been to enable holders of Australian and New Zealand sheep to obtain advanced prices. The lamb trade on the whole has been quiet though in sympathy with the advance in mutton; for prime carcases prices have hardened. The supply of bright New Zealand is extremely limited, and hence new season’s Australian find special favour with buyers. The beef market continues to be very unsatisfactory, and with Biver Plate and States descriptions in plentiful supply and offered at very low rates, Australasian hinds are difficult to sell at late rates, though for fores slightly higher prices are occasionally obtainable. We quote : Canterbury sheep, 4jd to 4Jd; North Island sheep, 4d to Australian sheep, 3|d to Canterbury lamb, 4£d to 4gd; North Island lamb, 4Jd to 4id; Australian lamb, 4jd to sd. New Zflaland beef, hinds 3!d to fores 2|d to 2^d; Australian beef, hinds 3d, fores 2|d to 2Jd.