PRODUCE NOTES

New Zealand Mail, Issue 1717, 25 January 1905, Page 64

PRODUCE NOTES

(From Our Special Correspondent.) LONDON, December 10th. WOOL. The sixth series of London wool sales terminated op. November 29th, There wrti hroughout a Saiga attendance of buyers while competition was general and animated, the sales closing at the best point of the series. Values for merino wool, which at the opening ruled at par to 5 per cent, above September closing rates, within a day or two hai*dened, the best descriptions occasionally marking an advance of 10 per cent., while all scoured ruled 5 per cent, dearer. The best descriptions of lambs were very firm, but short-stapled and faulty lots were about 5 per cent, lower. Crossbred, particularly the corser qualities of slipe, was in keen demand, and under the stimulus of large orders for clothing and blankets for the Far East, and brisk American bidding, medium grades improved 10 per cent, and coarse 15 per cent., scoured selling correspondingly well. The total number of bales sold was 80,000. of which 40,000 bales were taken for the Continent, and 2000 bales for the United States, the small quantity of 1000 bales being held over. GRAIN. There is little of interest to report in the wheat market since my last advice, and with a fair demand prices generally have remained steady. Shipments are now showing signs of falling off, and with the closing of the ice-bound parts of Russia, may shortly be expected to come within moderate compass. The reports from the River Plate have varied a good deal, but the latest information to hand states that the weather there has improved, and that good progress is being made in harvesting. There has been a fair business passing in Australian for arrival and handy sized cargoes here changed hands at 33s 3d per 4801 b c.i.f. DecemberJa.nuary and January-February shipments. There has been a verv moderate inquiry for oats, operations being practically confined to supplying the actual wants of buyers, and speculation in forward positions has been very limited. A better demand has existed for beans and peas, and prices are slightly higher. The New Zealand Loan and Mercantile quote:—Australian wheat 34s to 34s 6d per 4961 b, New Zealand wheat, longberried 33s 6d to 34s per 4981 b, shortberried 32s 6d to 33s per 4961 b, New Zealand barley 22s to 25s per 4481 b, New Zealand oats, sparrowbills and Gartons 20s 6d to 21s Gd per 3841 b, New Zealand oats, finest sparrowbills and Gartons 21 6d to 22s 6d per 3841 b, New Zealand oats, Danish 17s 6d to 18s 6d per 3201 b, New Zealand beans (about F.A.Q.) 29s to 31s per 5041 b, New Zealand peas, partridge 32s to 40s per 5041 b, New Zealand blue peas 28s to 33s per 5041 b, Australian flour 25s to 25s 6d per 2801 b. TALLOW. There has been a moderate demand at the three public auctions held during the past three weeks, and prices on the average are fully 6d per cwt higher. At the sales held on 23rd November the inferior descriptions were mostly inquired for, but latterly buyers have turned their attention to fine white mutton. Judging from present indications, it would appear likely that present prices will be fairly well maintained for a month or two, but as a large increase in shipments from Australia is anticipated, a fall in values about March next is very probable, especially if, as seems likely, South America again exports freely. There h" been little doing for Australasian for arrival, but a large business has been passing in South American at 25s 6d to 25s 9d per cwt, c.i.f., for both beef and mutton. Current quotations on the spot:—Fine mutton, 29s to- 29s 9d, fair to good 26s 6d to 28s. fair to fine beef 2Ss to 275, low sorts of mixed, etc., 24s 9d to 26s per cwt. FROZEN MEAT. A further advance in the price of New Zealand mutton has materially curtailed the demand for this article, many butchers now satisfying their requirements with Australian and River Plate. Lambs are now in very small supply, and accordingly it has been possible to realise higher prices. The demand for frozen beef has again been very slow, but with lees pressure on the part of holders to effect sales, values have been slowly improving, and at the close mark an advance of, say, per lb all round. The New Zealand Loan and Mercantile quote: —Canterbury sheep, 4>£d to sd, North Island sheep, 4/£d to 4Jd, North Island ewes, to 3|d, Australian sheep 3ijd to 4d, River Plate 4d to 4Jd, Canterbury lamb 6d to per lb, North Island lamb nil, Australian lamb &£d to 6d per lb. New Zealand beef (hinds) 2id to 8d

per lb. New Zealand beef (fores) to 2fd pei lb Australian beef (hinds) 2|d to 2|d per lb, Australian beef (fores) 2fd to 2|d per lb, BUTTER. Since my last report there has been an active demand for all descriptions and values generally have advanced. Finest Australasian is now making 104 s to 106 s per cwt, fine OSs to 100 s per cwt. while stored parcels are all cleared. CHEESE. The demand has continued steady, and late rates have been fairly well maintained at from 46s to 52s for Home Dunlops, 52s to 56s for Home Cheddar, and 46s to 48s per cwt for Canadian. NEW ZEALAND HEMP. A large amount of business has been passing at irregular prices, but during the last few days the demand has fallen off and the market closes quiet. Latest quotations:—"Good fair,” October-Decem-ber, £3l 15s to <£32, November-January .£3l 10s, January-March .£3l 5s to £3l 10s,

March-May .£3O 10s; “fair, JanuaryMarch <£23 10s per ton c.i.f. Fair current Manila, October-December, «£4l 10s per ton c.i.f. COCKSFOOT. The market remains extremely dull, and there are no sales to report. In some quarters lower prices are being quoted, American seed showing signs of weakness. Nominal prices to-day may be emoted as follows: —l7l b seed 50s, 161 b medium seed 48s to 49s per cwt c.i.f.