PRODUCE NOTES

New Zealand Mail, Issue 1696, 31 August 1904, Page 77

PRODUCE NOTES

(From Our Special Correspondent.) LONDON. July 16. Wool. —There was a large attendance of buyers at the opening of the fourth series of London sales on the sth inst.. all sections being well represented, _ while competition for nearly all descriptions was animated. Tho bidding for. coarse grades of crossbred was particularly brisk, with tho result that for these, values as compared with preceding series closing rates, marked an advance of to 10 per cent., medium sorts being par to 5 per cent, dearer, while fine showed practically no change. The best descriptions of merino ruled in sellers’ favour, wasty, faulty sorts selling irregularly in u«e absence of Continental support. With the progress of the sales, prices generally have hardened, and fine merino may now be quoted 71 to 10 per cent., coarse crossbred, particularly slipes, 10 per cent., and medium crossbred fully 5 per cent., higher than in May, medium and faulty merino also selling more readily, generally at an advance of 5 per cent. The Home trade have throughout been the principal operators, useful support, however, being furnished by. America in tho case of best greasy merino and medium and coarse grades of crossbred. The quantities bought in irom day to day have been small, and there is every indication of the series closing very firmly on Ilia 16th inst. Tallow.—At the threo public auctions held hero since my last advice there lias been but a moderate inquiry, but prices hava been fairly well maintained. A quiet demand is looked for during the next few weeks, bub as the autumn draws near, it is possible the market may improve. In Australasian for arrival sellers show a desire to meet buyers’ ideas of value, but the amount of business passing has been within very moderate compass. In South American the market has given way and mutton is offered at 23s 9d per cwt c.i.f., but without meeting with much response. Current quotations ex store —finest mutton 25s 9d to 265, fair to good 23s to 255, fair to good beef 23s to 245, "'litre” sorts of mixed, etc., 21s to 92s 9d par cent. Grain. —There has been a better tone in the market for wheat, and prices generally have advanced about Is per quarter. The falling oft in shipments combined with the advance in the American markets, lias sharpened up tho demand, whilst unfavourable crop reports from France help to strengthen the position. In Australasian for arrival a good business has been passing, and recently 30s 7£d per 4801 b was paid for an AugustSeptember shipment. I have not heard of any transactions in New Zealand for arrival, but quote the nominal value of a cargo one-third iongberried at 20s 9a to o'Os per 4801.bs c.i.f. The demand toi oa s continues and prices have advanced 3u to 6d per quarter. There is a moderate inquiry tor beans and peas at late rates Prices, ex store, touay: Australian wheat—Bo3 3d to 30 sJd per 4961 bs New Zealand.—'Wheat (longberried), 29s 3d to 29s 9d per 4861b5, shortberried 28s fid to 29s per 4861 bs; barley 20s to 80s per 4.4 Bibs; oats (Sparrowbills and Gar tons) 20s 9d to 21s 3d per oAribs, finest Gartons 21s fid to 22s per Hllbs, Danish 16s to 16s fid per o201bs; beans about f.a.q. (new crop) 28s to 80s per 50libs, about f.a.q. (aid crop) 80s to per 5044b5; peas (partridge) 34s to 38* pel 5041 bs, (blue) 25s to 80s per sU4lbs. Australian Hour, 43s to 23s fid per 2301b5. Frozen Meat. The mutton trade lias mrain been very slow, the warm weathei now prevailing tending to further depress the position, with the result that piices all round are easier, while heavy sheep (66/i2lb) aro unsaleable there is a good inquiry for New Zealand lambs, and late rates have been fairly well maintained, though for a few days, with one or two holders forcing sales, prices were a shade easier. Tho position of Australasian beef has been steadily improving, but it was not until the 13th inst, consequent upon the nows that a meat strike had taken place in America that any material change took place. It is impossible to say at the moment what will be the ultimate effect upon the course of the market here, as this will mainly depend upon the duration of the strike. Butter. —■ The market for all descriptions is now extremely quiet, and values have a downward tendency: There is verylittle doing in colonial, and prices must he considered nominal at 84s to oos ioi New Zealand, and 78s to 82s for Australian. Cheese. There is hut little demand for New Zealand at from 40s to 42s per cwt , while for Homo and Canadian prices are a shade easier. New Zealand Hemp. with a strong inquiry for Manila, conseauent upon tlio anticipated lignt ceipts for the next two or three months, there has been a better demand lor this description, and, with more offering from the colony, a lair amount o business has been passing at late ra.es to 10s per ton advance. I he In t w idland Loan and Mercantile quote : -bpoD J-30 10s; July up to February, b-J. ~— 15s to £3O per ton, c.i.f. f Cocksfoot-- As is usual aJ..is tuo , year, there is a cessation in J<- a....mi as buyers are waning to lea..j ty- * ; suit of tho American crop. mation will not come to band .in ..■•■ •- the end of the. month, and in thy prices remain firm. IhO Atm .ocaland Doan and Mercantile quote:—Dm

bright seed, 583 to 54s 6d; 181 b medium, 51s to 52s per cwt, c.i.f.