PRODUCE NOTES FROM LONDON

New Zealand Mail, Issue 1628, 13 May 1903, Page 57

PRODUCE NOTES FROM LONDON

(From Our Special Correspondent.) GRAIN. LONDON. March 20. The volume of business done in wheat since my last advice has again been small, but prices are maintained here largely owing to the smallness of stocks held inLondon. No Australian or New Zealand is offering, and there are no transactions in cargoes to report. The following quotations are therefore more or less nominal : —Australian wheat. 35s to 35s 6d per 4961b5; New Zealand wheat (long, berried), 32s 6d to 33s 6d per 4961b5; New Zealand wheat (shortberried), 32s 6tL to 33s per 4961bs ; New Zealand. barley. 26s to 28s 6d per 4481b5; New' Zealand oats (fine), 23s to 23s 6d per 3841b5; New Zear land oats (common), 19s to 21s per 3201b5; New Zealand peas. 40s to 60s per 5041b5; New Zealand beans, 35s to 37s 6d per 5041b5. TALLOW. There is a better demand for low sorts, and although a decline of 6d was accepted at the sales on the 4th inst., there was a corresponding advance at the nextauctions,. and prices remain steady. Fin*est mutton has declined Is per cwt andi a only small lots_ can be> v placed at this figure, and it would, appear that a stilk further reduction w r i3l have to be accept-* ed to induce business. There is a fair demand for good mutton, while edible and! good beef is in good request for Germany as the import duty is shortly to be raised there. There are no transactions on c.i.f. terms to report excepting for low sorts which have been sold at 29s per cwt. Current quotations—Finest mutton. 33s 6d to 34s (nominal), good 32s 6d to 32s 9d, fair 31s to 325, low sorts 28s 6d to 30s 9d; fair to good beef 31s to 325, edible beef 33s to 34s 6d per cwt. WOOL. The opening of the current series on 10th inst. was marked by a firm tone, all sections of the trade being well represented while competition was general and spirited. As compared with the close of the first series prices for merino and the finer qualities of crossbred shewed little or no change, but coarse sorts ruled 5 per cent, lower. With the progress of the auctions, under the influence of keen bidding particularly from Germany, values for all fair to good merino have advanced fully 5 per cent., but on the other hand, coarse crossbred, which, is in relatively large supply, though well competed for, has further given way, and must now be quoted 5 to It) per cent, lower. Merino lambs meet a strong inquiry and mark an advance of fully 10 per cent., crossbred, lambs also finding a ready sale at 5 to 7\ per cent, above January rates. FROZEN MEAT. Since the date of the last report there lias been a fair demand for all descriptions of mutton. Canterbury sheep are in small supply, and values are very firm. As regards secondary and North Island descriptions, small carcases are firm, but heavier sheep have an easier tendency. The inquiry for lambs still continues good though in the face of the larger quantities arriving values 'have further receded. An unexpected shortage in American chilled and River Plate beef shortly after the date of my last report caused an improved inquiry for colonial and with stocks in small supply, holders have been enabled to advance prices. The New Zealand Loan and Mercantile quote at the close:—

Canterbury sheep, 3s 3d to 3s Id per stone; Canterbury lamb, 3s lOd to 4s per stone; Australian lamb, 3s 4d to 3s 6d per stone; Australian sheep, 2s 4d per stone; North Island sheep, 2s 6d to 2s 8d per stone; North Island ewes, 2s 3d to 2s 4d per stone; North Island lamb, 3s 8d to 3s 9d per stone; New Zealand beef (hinds), 2s 9d to 2s lid per stone; New Zealand beef (fores), 2s 5d to 2s 6d per stone. BUTTER. There has been a further improvement in the demand since my last report, and a substantial advance in prices for all descriptions has taken place. There is a firm inquiry for Australasian, and prices are from 8s to 10s per cwt. higher; finest Australasian being worth 106 s to 110 s, and secondary, 102 s to 104 s per cwt. ■ CHEESE. There has been a good demand during the period under review for New Zealand and Canadian, and with stocks in moderate compass holders have been able to further advance prices. To-day, finest New Zealand is worth 66s to 68s, and finest Canadian is at a like level. HEMP. A fair amount of business has been passing, and more is offering from the colony. The market for “declared” and “near at hand” hemp has been firmer, owing to the difficulty experienced by operators in fulfilling their c.i.f. engagements, and this demand has affected the more distant positions. There is a quiet feeling at the close. The New Zealand Loan and Mercantile quote:—December, ,£34 to .£35 10s'; January, <£33 to .£33 10s; February, £32 to £32 10s; March,. £3l to £3l 10s;" and April, £3O per ton c.i.f. COCKSFOOT. The market since my last report has been exceedingly dull, and holders are asking less money quoting 60s for 161 b, but with bids less will be taken. New 171 b bright seed is cabled at 49s per cwt c.iJh, hut without business at 46s or 47s c.i.f. business could probably be done.