PRODUCE CIRCULAR.

Hawke's Bay Herald, Volume XXXIX, Issue 12731, 14 April 1904, Page 4

PRODUCE CIRCULAR.

. the New Zealand Loan and Min'caSlilfe Agencji Company; Limited, ifl their' produce circular, dated London, Manili 11th,'state; — Wool. There was a large attendance of the trade at the opening of the second series on the Bth instant. For crossbred brisk bidding was displayed by the .home section, itiiile the competition df American find Coritiitiinlftl Operators, tyas also enlisted ,fbt hits,.suited to ilieit i social- reqlditl-meiits,-with the result that for coarse grades values as compared with February, closing rates marked an advance of 5 per cent, fine and medium qualities being unchanged. The best descriptions of merinos also ruled firm, but other sorts, particularly faulty parcels, sold irregularly, generally at . a decline of 5 per cent, the bidding on Continental account showing considerable hesitation. With the progress of the sales the weakness in merino has been emphasised, and for wasty and faulty greasy, as well as all scoured, save the best qualities free from fault, the bids not infrequently rule below opening rates, while fine crossbred must now be quoted par to 5 per cent lower. Medium and coarse grades, however, under the influence of United States bidding, continue very firm.

Sheepskins. At the periodical auctions held on the 3rd and 4th instant, there was spirited competition, and the offering of nearly 3000 bales Australian was practically cleared under the hammer. As compared with the prices ruling at the previous sales on January 21st and 22nd, merino and fine crossbred were par to occasionally per lb dearer, whilst the coarser sorts, especially New Zealand, marked an advance of fully [d per lb.

Frozen Meat. The colder weather experienced during the earlier pan oi the period under review somewhat improved the demand lor mutton, and, with stocks in moderate compass, holders were enabled to advance quotations about Id per stone. The advance, however, was not for long maintained, and, with a very slow sale this week, the improvement has been lost. Tiie demand tor lamb is unsatisfacUu . and prices generally have an easier tendency. Some of the New Zealand parcels have contained a fair number of light weight, plain carcases, which came into competition with Australians. The quality of the latter is very irregular, some of the shipments being of very poor quality. There is hut little business passing in Australian beef, as though there is some inquiry for fores, hindquarters are almost unsaleable. Plate chilled and frozen continue in plentiful supply, and are being sold at very low rales for the latter, as low as 2jd to 2Jd and 2Jd to 3d for fores and hinds respectively being taken. We quote : —Canterbury sheep, 4]cl to 4jd; North Island sheep, 4'd to 4,;(I; North Island ewes, 3;;(I to 3Jd; Australian sheep, 3]d to 3|(1; Australian beef, hinds 3(jd to 2|d; Australian beef, tores 2]d to 2|d; Canterbury lamb, sjd to s£d (all weights); North Island lamb, fijd to Sijd ; Australian lamb, 4[d to fijd; New Zealand beef, hinds 3d to 3]d (nominal); New Zealand beef, fores 2|d to 2]cl per lb, ex market. Butter.—The market for all descriptions of Australian during the earlier part of the period under review ruled much firmer, and values all round advanced, but this week, at the higher rates ruling, the demand has shown a marked falling off, with the result that prices have declined 2s to 3s per cwt. Finest New Zealand is worth 100s to 101s, Australian 96s to, 98s; secondary New Zealand, 88s to 90s per cwt.

Cheese. Though there has been some improvement in the demand for Canadian ami New Zealand, prices continue in buyers’ favour at 60s for the former and 48s to 49s for the latter.

Tallow.—At the three public auctions held hero only insignificant catalogues have been placed before buyers. There was a good demand at the' first two sales, and prices advanced fid per cwt, whilst in the case of finest mutton the rise was even more marked. At this week’s auctions, however, there was a very quiet demand and although rates were not quotably lower for the small quantity sold, holders would have been obliged to accept 3d per cwt less money in order to affect further sales. In Australian for arrival prices, after having advanced in sympathy with the spot market, are now lower, and good mixed is being offered at 25s 9d per cwt, c.i.f. We quote on spot here: Finest mutton 28s 9d to 295, good 28s to 28s 6d, fair 27s to 27s 6d ; low sorts of mixed, etc.. 25s fid to 26s fid; fair to good beef, 26s fid to 27s fid; edible beef 28s to 29s per cwt.

New Zealand Hemp.—The market, in sympathy with that for Manila, has been weak, and prices are about £1 lower, with only a moderate business passing. We quote Spot £3l to £3l 10s. January-March £3l, April-June £3O 10s per ton, c.i.f. Tow.—There Is a quiet demand, and values mark a declines of 5s to 10s per ton. We quote:—Spot £8 ss, for arrival £7 10s per ion, c.i.f.